Standard Lithium Enters into Option to Acquire Additional Land Package IN Bristol DRY Lake

STANDARD LITHIUM LTD.

Suite 835, 1100 Melville Street

Vancouver, British Columbia

V6E 4A6

NEWS RELEASE

STANDARD LITHIUM ENTERS INTO OPTION TO ACQUIRE ADDITIONAL LAND

PACKAGE IN BRISTOL DRY LAKE

May 15, 2018 – Vancouver, BC – Standard Lithium Ltd.(“Standard Lithium” or the “Company”)

(TSXV: SLL) (FRA: S5L) (OTCQX: STLHF) is pleased to announce that it has entered into a license,

exploration and option agreement (the “Option Agreement”) to formalise the memorandum of

understanding announced by the Company on October 30, 2017. The Option Agreement provides that

the Company will acquire the rights to conduct lithium brine exploration activities on properties

located in San Bernardino County, California. The properties total approximately 23,940 acres and

consist of a series of mineral claims located in the Bristol Dry Lake and Cadiz Dry Lake regions.

Under the terms of the Option Agreement, the Company will initially acquire the right to conduct

lithium brine exploration activities on the properties located in Bristol Dry Lake and Cadiz Dry Lake.

These rights will be acquired in consideration for a series of cash payments and share issuances

totaling US$2,700,000 and 3,400,000 common shares, to be completed over a sixty-month period.

Initially, the Company will make a payment of US$100,000 and issue 200,000 common shares. The

cash payments and share issuances will be made to TETRA Technologies, Inc. (“TETRA”), a non-

affiliated NYSE-listed company, which is the underlying owner of the properties.

During the exercise of these rights, and the exploration of the properties, the Company will have the

option to enter into a mineral lease with TETRA in respect of one or both of the properties located in

Bristol Dry Lake and Cadiz Dry Lake. Such a lease would provide the Company with the right to

conduct commercial operations on the properties, and to remove and commercially exploit lithium and

its derivatives extracted from the properties, subject to compliance with applicable mining laws, and to

the payment of an ongoing royalty to TETRA. The cash payments and share issuances owing to

TETRA in accordance with the Option Agreement are subject to adjustment in circumstances where

the Company elects to enter into a mineral lease in respect of only one of the properties.

Completion of the transactions contemplated by the Option Agreement, and any associated share

issuances, remains subject to the approval of the TSX Venture Exchange. All securities issued in

connection with the Option Agreement will be subject to a four-month-and-one-day statutory hold

period in accordance with applicable securities laws.

Dr. Andy Robinson, COO and President of Standard Lithium commented " We’re very pleased to sign

this Option Agreement with TETRA. Standard Lithium now has finalised agreements in place with the

two permitted operators working in our California Lithium project area."

About Standard Lithium

Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of

large-scale brownfield domestic brine resources, led by an innovative and results-oriented management

team with a strong focus on technical skills and modern brine processing technologies. The

Company’s flagship project is in southern Arkansas, where it is engaged in the testing and proving of

commercial viability of lithium extraction from 150,000+ acres of current brine operations and also the

resource development of 30,000+ acres of separate brine leases, both located in the Smackover

Formation. It is also engaged in the exploration and resource development of approximately 45,000

acres at the Bristol and Cadiz Dry Lake Lithium Projects located in the Mojave Desert, San Bernardino

County, California. All of Standard Lithium’s Project areas have significant infrastructure in-place,

with easy road and rail access, abundant electricity and water sources, and already permitted brine

extraction and processing operations.

Standard Lithium is listed on the TSX Venture under the trading symbol “SLL”; quoted on the

OTCQX under the symbol “STLHF”; and on the Frankfurt Stock Exchange under the symbol “S5L”.

Please visit the Company’s website atwww.standardlithium.com.

For further information, contact Anthony Alvaro at (604) 240 4793

On behalf of the Board,

Standard Lithium Ltd.

Robert Mintak, CEO & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies

of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the

United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities

laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”,

“target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify

forward-looking statements or information. These forward-looking statements or information may

relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves

or resources, regulatory or government requirements or approvals, the reliability of third party

information, continued access to mineral properties or infrastructure, fluctuations in the market for

lithium and its derivatives, changes in exploration costs and government regulation in Canada and the

United States, and other factors or information. Such statements represent the Company’s current

views with respect to future events and are necessarily based upon a number of assumptions and

estimates that, while considered reasonable by the Company, are inherently subject to significant

business, economic, competitive, political and social risks, contingencies and uncertainties. Many

factors, both known and unknown, could cause results, performance or achievements to be materially

different from the results, performance or achievements that are or may be expressed or implied by

such forward-looking statements. The Company does not intend, and does not assume any obligation,

to update these forward-looking statements or information to reflect changes in assumptions or

changes in circumstances or any other events affections such statements and information other than as

required by applicable laws, rules and regulations.

Readers are cautioned that a “Qualified Person” (as that term is defined by National Instrument 43-

101 – Standards of Disclosure for Mineral Projects) has not done sufficient work to specify any

mineral resource or reserve on the Properties.