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Standard Lithium Successfully Produces >99.985% Purity Battery Quality Lithium Carbonate Using Oem Technology and Commences Lithium Hydroxide Conversion Program

Exploration Programs

STANDARD LITHIUM SUCCESSFULLY PRODUCES >99.985% PURITY BATTERY

QUALITY LITHIUM CARBONATE USING OEM TECHNOLOGY AND

COMMENCES LITHIUM HYDROXIDE CONVERSION PROGRAM

HIGHLIGHTS

 >99.985% purity lithium carbonate produced using ‘off-the-shelf’ OEM

technology

 Now successfully demonstrated two different flowsheets for producing

battery-quality carbonate

 Launch of work converting Arkansas-produced LiCl into battery

quality lithium hydroxide

Vancouver, BC – 1st March, 2021 – Standard Lithium Ltd. (“Standard Lithium” or the

“Company”) (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L), an innovative technology and

lithium project development company today announced that it has successfully completed the

conversion of its Arkansas-produced lithium chloride into 99.985% pure lithium carbonate using

OEM technology. The work was completed by Veolia Water Technologies (Veolia) at their

facility in Plainfield, Illinois, and demonstrates that the lithium chloride intermediate product

produced by Standard Lithium’s industrial scale LiSTR Direct Lithium Extraction (“DLE”) plant

in Arkansas can be converted into better-than battery quality lithium carbonate using established

OEM carbonation technology.

Dual Track Program for Lithium Carbonate Conversion

As part of a continuous process of derisking the Arkansas Lithium Project, Standard Lithium

opted to evaluate two different processes to convert the LiCl solution made by the Arkansas DLE

plant into a battery-quality material. The first was using the Company’s own patent-pending

SiFT technology as previously reported (see news release dated December 03 rd 2020) . The

second, as reported here, was via conventional technology, widely used within the industry and

performed by Veolia. Concentrated lithium chloride solution produced by Standard Lithium was

sent to Veolia and was then converted to lithium carbonate using a conventional flowsheet. This

involves additional concentration; chemical softening/purification; initial conversion to solid

lithium carbonate; redissolution to a bicarbonate solution and final crystallisation, washing and

drying of battery quality lithium carbonate. The material produced was of exceptionally high

purity, as shown in Table 1 below where the composition is compared to typical specifications

for battery-grade lithium carbonate compiled from a variety of commercial sources and

producers’ specifications

Table 1: Analysis of Lithium Carbonate

Specification Standard Lithium

Element Target Li2CO3 Sample

ppm ppm

Chloride <100 <50

Sulphur <50 <10

Aluminium <10 <3

Barium <1 <1

Calcium <160 <10

Chromium <10 <1

Copper <10 <1

Iron <5 <1

Lead <10 <1

Magnesium <70 <10

Manganese <10 <1

Nickel <6 <1

Zinc <5 <1

Sodium <500 14

Potassium <10 <10

Boron <30 <1

Silicon <40 26

Total Impurities <142

The total impurities of <142 ppm implies an overall purity of >99.985%.

The Company has now successfully demonstrated two separate crystallisation flowsheets that

can take lithium chloride produced from the Smackover Formation brine and convert it into high

purity battery-quality lithium carbonate. As the Company continues to move towards

commercialisation, successful demonstration of alternative technologies in key areas of the

flowsheet allows it to reduce project execution risk and offers greater flexibility regarding the

final flowsheet that will be deployed at commercial scale.

Lithium Hydroxide Conversion Program

Standard Lithium continues to innovate and optimise its flowsheet, and with a view to expanding

product offerings from the Smackover resource, it has commenced work to assess the feasibility

of directly converting LiCl produced by the LiSTR DLE plant in Arkansas into battery quality

lithium hydroxide. This work is ongoing, and the Company will provide results as they become

available.

Dr. Andy Robinson, President and COO of Standard Lithium commented “ We’ve now

demonstrated that we can convert to battery quality lithium carbonate using the Company’s SiFT

technology; that we can get to the same end-product using established technology developed and

sold by global OEMs; and now we’re looking to add battery quality lithium hydroxide to the

product offering. In the background, we continue to rapidly advance both project and corporate

development work. We’re excited about reaching the various milestones ahead of us and, if

we’re successful, taking this globally important project into commercialisation.”

Quality Assurance

Dr. Ron Molnar, Professional Metallurgical Engineer (Ontario P.E.# 100111288), is a qualified

person as defined by NI 43-101, is independent of the Company, and has reviewed and approved

the scientific and technical information that forms the basis for this news release.

About Standard Lithium Ltd.

Standard Lithium (TSXV: SLL) is an innovative technology and lithium development company.

The company’s flagship project is located in southern Arkansas, where it is engaged in the

testing and proving of the commercial viability of lithium extraction from over 150,000 acres of

permitted brine operations. The Company has commissioned its first-of-a-kind industrial scale

Direct Lithium Extraction Demonstration Plant at LANXESS’ South Plant facility in southern

Arkansas. The Demonstration Plant utilizes the Company’s proprietary LiSTR technology to

selectively extract lithium from LANXESS’ tailbrine. The Demonstration Plant is being used for

proof-of-concept and commercial feasibility studies. The scalable, environmentally-friendly

process eliminates the use of evaporation ponds, reduces processing time from months to hours

and greatly increases the effective recovery of lithium. The company is also pursuing the

resource development of over 30,000 acres of separate brine leases located in southwestern

Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San

Bernardino County, California.

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

quoted on the OTC - Nasdaq Intl Designation under the symbol “STLHF”; and on the Frankfurt

Stock Exchange under the symbol “S5L”. Please visit the Company’s website at

www.standardlithium.com

On behalf of the Board of Standard Lithium Ltd.

Robert Mintak, CEO & Director. For further information, contact Anthony Alvaro at (604) 240

4793

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.