Anderson had resigned due to ill-health at the end of February and director Toby Mayo was appointed interim CEO.
Anderson previously worked at Canaccord Capital and founded Far Resources with his brother Frank, who is on Far's board of directors.
He had long recognised the potential in the lithium industry and had recently negotiated the agreement to acquire up to 90% interest in the Hidden Lake lithium project in Canada's Northwest Territories from 92 Resources Corp (CN:NTY), which was finalised earlier this month.
"He had clear ideas and plans for the future of the company and our projects, and we are pleased to honour his legacy," Mayo said.
The company also has the Zoro lithium project in Manitoba and the Winston gold project in New Mexico, US, which it plans to spin out into a separate company.
Shares in Far Resources have ranged widely in the past year, from C7.5c to a high of $1.10 on January 18. They lost 1c on Friday to 38.5c capitalising Far at $38.4 million.