Arizona Lithium Announces Discovery of Lithium-Rich Formation at Prairie Project

Jane Morgan Management

Perth, Australia – 15 July 2024 | Arizona Lithium Limited (ASX: AZL, AZLO, AZLOA | OTC: AZLAF) ("Arizona Lithium" or "the Company"), a company focused on the sustainable development of two large lithium projects in North America, is excited to announce that it has made a significant discovery of lithium-rich brine in the Dawson Bay Formation at its Prairie Lithium Project. This marks the first time the Dawson Bay Formation has been tested for lithium across the entire project area, with lithium concentrations reaching 60 mg/L. 

The discovery comes as Arizona Lithium successfully drilled and tested both production and disposal wells at Pad #1. The results from these wells exceeded expectations, representing a key milestone in advancing the Prairie Project towards commercial production in 2025. 

Highlights:

• Lithium Discovery: The Dawson Bay Formation, previously untested, yielded lithium concentrations of 60 mg/L at Pad #1. 

• Successful Well Testing: Both production and disposal wells at Pad #1 were tested, with results surpassing expectations from the project's Pre-Feasibility Study (PFS). 

• Next Steps: The company is now finalizing facility design, with plans to begin construction in the first half of 2025 and commence lithium production in the second half of the year. 

Managing Director Paul Lloyd commented: “Having the first production and disposal wells installed and tested at Pad#1 is a significant milestone towards putting our project into production. As described in our PFS that we released in December 2023, we require production wells, disposal wells and surface equipment. So far we have tested a production well successfully, we have tested a disposal well successfully and we have run a pilot plant to optimize processing at surface. Having all these milestones complete allows us to finalize the design of our facility as we look to construct our facility infrastructure in H1 2025 and produce lithium on Pad #1 in H2 2025.” 

About the Prairie Lithium Project:
The Prairie Lithium Project is located in the Williston Basin of Saskatchewan, Canada. It has a resource of 6.3 million tonnes of lithium carbonate equivalent (LCE), comprising 4.5 million tonnes indicated and 1.8 million tonnes inferred. The project benefits from access to key infrastructure and a sustainable development approach, with plans to minimize freshwater usage and environmental impact. 

Mr. Paul Lloyd
Managing Director
paul@arizonalithium.com

About Arizona Lithium Limited:

Arizona Lithium Ltd. (ASX:AZL) is a lithium exploration & development company with its head office in Perth, Western Australia. Arizona Lithium trades on the Australian Stock Exchange (ASX) under the symbol AZL. The company is currently exploring and developing its two main projects, The Big Sandy project in Arizona, USA and the Prairie Lithium project in Saskatchewan, Canada. The company also has BLM claims for exploration near Lordsburg, New Mexico, USA. Arizona Lithium’s main office and Lithium Research Center (LRC) in North America are located in Tempe, Arizona, with a field office in Saskatchewan.

Jane Morgan 
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au