Ms. Allysa Howell reports

STANDARD LITHIUM FILES TECHNICAL REPORT FOR THE SOUTH WEST ARKANSAS PROJECT

Standard Lithium Ltd.'s preliminary feasibility study for the South West Arkansas project, as announced on Aug. 8, 2023, has been filed.

The report is available for review under the company's profile on SEDAR+ and on the company's website. For highlights of this report, please refer to the company's press release dated Aug. 8, 2023.

About the South West Arkansas project

The South West Arkansas project (SWA project) is located approximately 15 miles west of the city of Magnolia in southwestern Arkansas. The SWA project's indicated and inferred mineral resource of 1.4 million tonnes and 400,000 tonnes lithium carbonate equivalent, respectively, has some of the highest reported lithium brine concentrations in North America, averaging above 400 milligrams/litre. The preliminary feasibility study demonstrates robust economics, assuming production of at least 30,000 tonnes per year of battery-quality lithium hydroxide beginning in 2027 over a 20-plus-year operating life.

The company anticipates completing a FEED and definitive feasibility study for the SWA project in 2024 and beginning construction in 2025. Commercial production is expected in 2027, subject to continuing project definition, due diligence, project financing and receipt of future feasibility studies.

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of lithium brine-bearing properties in the United States. The company prioritizes brine projects characterized by high-grade resources, robust infrastructure, skilled labour and streamlined permitting. The company aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated direct lithium extraction (DLE) and purification process. The company's signature projects, the Phase 1A project and the South West Arkansas project, are located on the Smackover formation in southern Arkansas near the Louisiana state line, a region with a long-standing and established brine processing industry. The company has also identified a number of highly prospective lithium brine project areas in the Smackover formation in East Texas and began an extensive brine leasing program in the key project areas. In addition, the company has an interest in certain mineral leases located in the Mojave Desert in San Bernardino county, California.

Qualified person

Steve Ross, PGeol, a qualified person as defined by National Instrument 43-101, and vice-president, resource development, for the company, has reviewed and approved the relevant scientific and technical information in this news release.

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