Argentina Lithium & Energy Cor - LILIF STOCK NEWS

Argentina Lithium & Energy Corp. (LILIF) has reported positive results from its fourteenth exploration well (RW-DDH-14) at the Rincon West Project in Salta Province, Argentina. The well produced lithium concentrations ranging from 277 to 379 mg/l across a 225-metre interval, collected through 16 brine samples.

The company is currently working on a resource model for the initial exploration area, which is adjacent to Rio Tinto's Rincon Project. The project covers 5198.8 hectares of the salar basin. Additional rotary wells are planned, pending permit approval, and the provincial ministry is reviewing drill permit applications for the eastern Don Fermin block.

The drilling program has consistently demonstrated mid-grade brines across all fourteen wells, validating the company's interpretation of conductive formations identified during geophysical targeting. A long-duration pump test is currently being completed at the sixth hole (RW-RT-01).

Argentina Lithium & Energy (TSXV: LIT) has applied to the TSX Venture Exchange to extend the term of 35,767,948 outstanding warrants from November 21, 2024 to November 21, 2027. These warrants were initially issued on November 21, 2022, as part of a private placement, with 573,000 warrants already exercised. The warrants' exercise price will remain at $0.40, with each warrant convertible into one common share. Of the remaining warrants, 30,305,000 are held by company insiders, constituting a related party transaction under MI 61-101.

Argentina Lithium & Energy has received a two-year exploration permit for the Paso de Sico mining concession at its Rincon West Project in Salta Province, Argentina. The company plans to initiate a six-hole diamond drilling program to evaluate lithium brine potential. The Paso de Sico property, consisting of 791.3 hectares, is strategically located adjacent to major highways and a 345 kW power corridor, making it suitable for potential future processing facilities. The company plans approximately 8000 metres of drilling throughout Rincon West over 18 months, funded by a prepaid drilling contract established in 2023.

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) reports positive results from the 13th exploration well at its Rincon West Project in Salta Province, Argentina. The well, RW-DDH-13, yielded lithium concentrations ranging from 269 to 340 mg/l over a 327-metre interval. The company is currently completing the 14th diamond drill hole and drilling a rotary well for pump tests.

The Rincon West Project covers 5198.8 hectares adjacent to Rio Tinto's Rincon Project. RW-DDH-13 is the fourth of a planned 6-hole program on the Rinconcita II property. The drilling intersected various formations, including mixed sediments, ignimbrite, sand, clay, and crystalline halite, with sandy units expected to be the most productive for lithium brine extraction.

Brine samples were analyzed by Alex Stewart International Argentina S.A., an ISO 9001:2017 certified laboratory. Quality control measures included blank, duplicate, and reference standard samples.

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) has fully exercised three option agreements for 100% interest in 22 optioned properties totaling 25,391 hectares at its Rincon West, Pocitos, and Antofalla North Projects. The company completed payments totaling US$6,650,000 to secure these highly prospective lithium properties in Argentina's Salta Province.

Key acquisitions include:

• 5,380.5 hectares at Antofalla Salar for US$4,000,000
• 18,248.5 hectares at Pocitos and Rincon Salars for US$4,200,000 and CA$700,000 in shares
• 1,762 hectares at Pocitos Salar for US$700,000

These acquisitions follow the investment from Stellantis and validate the company's initial exploration hypotheses. Production royalties remain on some properties.

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) has completed geophysical surveys at its Don Fermin property, part of the Rincon West lithium project in Salta Province, Argentina. The surveys have expanded the potential extent of conductive brine aquifers by nearly 600 hectares.

Key points:

• 24.2 line-kilometers of Transient Electromagnetic (TEM) sounding surveys were conducted
• Results provide targets for a new 6-hole drill program, currently in the permitting stage
• The property covers 1,456 hectares on the eastern flank of the Salar de Rincon
• TEM surveys identified highly conductive subsurface strata covering approximately 596 hectares
• The company plans to move towards drilling at Don Fermin to potentially define a second area for lithium resource delineation

Argentina Lithium & Energy Corp. (TSXV: LIT, FSE: OAY3, OTCQX: LILIF) has appointed Pompeyo Gallardo as Vice President Corporate Development. With 29 years of experience in corporate finance, Mr. Gallardo brings expertise in project structuring, financing, and various financial instruments. His background includes roles as a Financial Analyst at CIBC, Senior Credit Risk Management at Scotiabank, and CFO and Corporate Finance consultant at Red Cloud Securities. The company's CEO, Nikolaos Cacos, expressed enthusiasm about the appointment, highlighting Gallardo's extensive capital markets and finance experience as valuable for Argentina Lithium's growth plans.

Argentina Lithium & Energy Corp. (TSXV: LIT, FSE: OAY3, OTCQX: LILIF) has applied to the TSX Venture Exchange to extend the term of 16,630,000 outstanding warrants. These warrants, originally issued in a private placement in August 2022, are set to expire on August 11 and August 25, 2024. The company seeks to extend them to August 11 and August 25, 2027, respectively. The exercise price will remain at $0.38, with each warrant exchangeable for one common share of the company.

Notably, 9,100,000 of these warrants are held by company insiders, constituting a "related party transaction". The company has relied on exemptions from valuation and minority shareholder approval requirements, as the fair market value of insider-held warrants does not exceed 25% of the company's market capitalization. The amendment is subject to TSXV approval.

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