Kalium Lakes Limited (KLL) today announced additional assay results from its Beyondie Sulphate of Potash Project (BSOPP).

These results were from auger holes located in the eastern tenements Resource Area, which comprise Stage 2 of the Project. Importantly, the potassium grades are consistent with results obtained from the same locations two and four years ago.

The ongoing sampling program reflects KLL's strategy, where a staged development approach provides initial production from the western areas of the project (Stage 1 currently under construction) then expands production to include the eastern areas.

KLL is currently targeting the construction, commissioning and operation of the BSOPP, based solely on Stage 1 of the Project which covers 6,369 hectares or 21% of the 30,225 hectares of total available lake surface area.

Stage 2 of the Project, which includes the remaining 23,856 hectares or 79% of the total available lake surface area and palaeovalley sequence, represents the expansion phase and is anticipated to deliver considerable benefits in terms of increased production volumes and potential extension to the life of the Project.

Managing Director, Brett Hazelden, commented: 'These results continue to confirm the high grades for our future Stage 2 eastern lakes. The majority of these lakes only have Mineral Resources associated with the upper two metres of the lake area. There is significant potential to move the Exploration Target lake aquifer and palaeochannel material below this upper two metres into Mineral Resources, following completion of future drilling and aquifer testing.

'We continue to focus our efforts on developing the Stage 1 area to become the first SOP producer in Australia. It is important for our current and future investors to recognise the potential that Stage 2 offers which has almost four times the lake surface area of Stage 1,' he said.

The recent auger program conducted in late 2019, within the eastern lakes forming part of the Stage 2 area, was undertaken to test the consistency of brine grades over time.

Differences observed in potassium concentrations between the sample sets are considered to be due to the impact of rain/drought events and surface water flows at sample locations prior to sampling. Not all locations were sampled during the three separate sampling periods.

Cautionary Statement Regarding Forward-Looking Information

Statements regarding plans with respect to the Company's mineral properties may contain forward looking statements. Statements in relation to future matters can only be made where the Company has a reasonable basis for making those statements. This announcement has been prepared in compliance with the current JORC Code 2012 Edition and the current ASX Listing Rules. The Company believes it has a reasonable basis for making the forward-looking statements, including any production targets, based on the information contained in the announcement and in particular the JORC 2012 and NI 43-101 Technical Report - Bankable Feasibility Study. All statements, trend analysis and other information contained in this document relative to markets for Kalium Lakes, trends in resources, recoveries, production and anticipated expense levels, as well as other statements about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'expect' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could' or 'might' occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kalium Lakes does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statement

Contact:

Tel: +61 (0)8 9240 3200

Email: info@kaliumlakes.com.au

(C) 2020 Electronic News Publishing, source ENP Newswire