Mandrake Resources secures US Department of Energy funding

Mandrake Resources Limited (ASX: $MAN) has been awarded a US$1 million grant by the US Department of Energy (DoE) to conduct research on characterizing and estimating reserves of Lithium and other critical minerals in the Paradox Basin, Utah. The grant signifies a crucial validation of the Utah Lithium Project and demonstrates the US government's confidence in Mandrake's potential in the lithium space.

Executive Commentary on US Department of Energy Funding

The successful qualification for US$1M of US Federal DoE funding is a fantastic vote of confidence from the US government on the lithium potential of Mandrake's Utah Lithium Project and the greater Paradox Basin. Partnering with INL, NREL and the University of Utah will give Mandrake access to the foremost U.S. scientists and sophisticated U.S.-funded laboratories and thrust both Mandrake and the lithium potential of the Paradox Basin into the US national spotlight. Outstanding funding opportunities and general support from the US government are currently available for US-based critical minerals projects as the US seeks to promote a domestic supply of critical minerals and navigate the geopolitical permutations of the new energy transition. Mandrake has an additional three DoE applications for funding that are outstanding.

Summary of US Department of Energy Funding and Outlook

Mandrake Resources Limited (ASX: $MAN) has secured a US$1 million grant from the US Department of Energy (DoE) to conduct research on Lithium and critical minerals in the Paradox Basin, Utah. The successful qualification for the grant signifies a crucial validation of the Utah Lithium Project and demonstrates the US government's confidence in Mandrake's potential in the lithium space. Partnering with leading US government agencies and leveraging these partnerships will propel Mandrake and the lithium potential of the Paradox Basin into the US national spotlight. The company has additional three DoE applications for funding outstanding, indicating a positive outlook for its future endeavors in the critical minerals space.