Lake Way Process Plant commissioning commences

Lake Way Process Plant commissioning commences

Salt Lake Potash Limited (SO4 or the Company) is pleased to announce the commencement of Process Plant commissioning at its Lake Way Project near Wiluna, Western Australia.

Front-end plant commissioning commences

· First time potassium rich harvest salts, precipitated from lake aquifer brine, have been fed into an SOP Plant in Australia.

· First harvest salts have been successfully fed into the feed hopper, conveyed to the surge bin, run through the lump breaker, and then into the attritioning feed tank at the front-end of the Process Plant.

· Over the coming weeks the utilities, conversion circuit, flotation circuits, crystallisers and dryer will all be commissioned ahead of full load commissioning and SOP production in the June quarter.

· Consultants from the plant designer, Wood Group, as well as vendors Veolia and Broadbent (amongst others) will be assisting in the commissioning process.

· Front-end plant commissioning was powered by 2MW diesel generators. These will continue to be used to progress the commissioning activities over coming weeks.

· Gas supply lines and delivery station for the 10MW power station have been fully commissioned, with Power-on scheduled for late April to support final commissioning activities and production commencement.

· First production and SOP sales on track for the June quarter.

TONY SWIERICZUK, Chief Executive Officer

"Commencing commissioning of Australia's first Sulphate of Potash processing plant is a major milestone for SO4 and testament to the hard work of our owners' team and GR Engineering Services. It is exciting to see the vision that was first conceived in late 2018 come to fruition less than two and a half years later. First SOP sales and revenue are now well within sight."

For further information or a full copy of the announcement including figures, please visit www.so4.com.au or contact:

This announcement has been authorised for release by the Managing Director.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Forward Looking Statements

This announcement includes forward-looking statements. These forward-looking statements are based on the Company's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. Although the Company believes that its forward-looking statements have reasonable grounds, can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the Company's business (including those described in pages 11 to 21 (inclusive) of the Prospectus released to ASX on 11 February 2021), which cause actual results to differ materially from those expressed herein. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, save where required by law or regulation, to reflect the circumstances or events after the date of this announcement.