Mandrake Resources Limited (ASX:MAN) is an Australia-based mineral exploration company focused on advancing lithium and other critical mineral projects. Founded in 1986 and headquartered in West Perth, Western Australia, the company holds a portfolio of assets including the flagship Utah Lithium Project in the Paradox Basin, south-eastern Utah, USA, spanning 93,755 acres (379 square kilometres) with an Inferred Resource estimate of 3.3 million tonnes of lithium carbonate equivalent (LCE) under JORC 2012; the Jimperding Ni-Cu-PGE Project in Western Australia, targeting nickel, copper and platinum group elements with airborne electromagnetic conductors and surface assays up to 0.36g/t palladium, 0.27g/t platinum, 0.5% nickel and 0.19% copper; and the Berinka Pine Creek Gold Project in the Northern Territory, Australia, featuring gold intercepts such as 4m at 6.6g/t, 6m at 3.8g/t and 5m at 2.6g/t Au. Operations target lithium brines via direct lithium extraction (DLE) partnerships that have demonstrated recovery of battery-grade lithium, alongside nickel-copper-PGE sulphides and gold mineralization in underexplored regions. Recent developments include a non-binding letter of intent with Stardust Power Inc. (NASDAQ:SDST) announced in November 2025 for an 18-year offtake of 7,500 tonnes per annum of lithium chloride from the Utah Lithium Project to support US domestic supply chains; an agreement in November 2025 to recover uranium from abandoned mine waste dumps; identification of potential high-grade bulk lithium brines in October 2025; and a US$1 million Department of Energy grant secured in 2024 for DLE advancement, alongside prior brine supply agreements and farm-in deals. The company operates primarily in the United States and Australia, benefiting from pro-mining jurisdictions and existing oil/gas infrastructure for brine access.