Anson Resources Wins US$357.7M Utah Incentives for Green River Lithium

The incentives have the potential to reduce Green River's capital intensity and long-term tax burden, Richardson added. "Combined with existing financing initiatives, they reinforce our strategy of minimising shareholder dilution while strengthening project economics."

Anson also won a bid to acquire new mineral rights immediately beneath the Green River and nearby state parks administered by the Utah Division of Forestry, Fire, and State Lands. The new tenure comprises eight leases covering 4.76 square kilometres of highly prospective lithium-rich brines. The leases join the east and west claim areas, reflecting a 5.4% increase in the project's total acreage.

Leases 1 to 4, which sit within Green River's Indicated resource estimate, will be included in a future update. The remaining leases are within the Inferred resource area of interest. The leases abut the project's Bosydaba #1 and Mt Fuel-Skyline Geyser wells, areas of known lithium-rich saturated brines that had no recorded historical assays until Anson's recent drilling programs, the company said.

The wells are separated by about 12 kilometres and share similar geological formations and a supersaturated brine composition described as "very clean" compared to other lithium-rich brines, allowing it to be processed at lower cost.

Green River is one of North America's most advanced lithium brine developments, Richardson said. The project sits in a region the U.S. government has targeted for critical minerals self-sufficiency, with the Inflation Reduction Act, the Defense Production Act and other federal programs providing additional support for domestic lithium production.

The proposed Utah incentives, combined with the new leases, strengthen the project's path toward a final investment decision. The company expects to complete the definitive feasibility study later this year, incorporating the final incentive terms.