Recharge Res Ltd. - RECHF STOCK NEWS

Recharge Resources Ltd. announced a fully-funded drill program at its Brussels Creek Copper-Gold-Palladium Project in Kamloops, BC, following the issuance of permits. The 1,100-meter drill program aims to explore mineralization similar to the nearby New Afton mine. The company is also advancing drilling at its Pocitos 1 Lithium Brine Project in Argentina, with significant depth achieved. CEO David Greenway expressed excitement about the drill program, emphasizing a commitment to sustainable practices. The Brussels Creek site covers 1,350.43 hectares, with historic samples showing promising gold and palladium values.

Recharge Resources Ltd. (RECHF) reports progress on its Pocitos 1 Lithium Brine Project in Argentina. The company is drilling to a depth of 400 meters, having cemented a casing down to 50 meters and passed 100 meters this week. Anticipation for encountering target aquifer zones is high as drilling continues. Lithium prices are currently at $75,627 per ton. The project aims to establish a NI 43-101 compliant resource and facilitate a 20,000 tonne per year Ekosolve™ facility, with environmental studies progressing well.

Recharge Resources has engaged JMK Exploration Consulting for an airborne magnetic survey in its Phase 1 Exploration Program at the Georgia Lake North and West Lithium Properties. These properties, totaling 752 hectares, are adjacent to Rock Tech Lithium's Georgia Lake assets in Ontario. CEO David Greenway confirmed ongoing drilling programs and aims to identify potential mineral continuity. Lithium prices are currently high, at approximately US$74,891 per tonne. The exploration is crucial for developing high-value battery metals amid increasing demand in the electric vehicle market.

Recharge Resources plans to transfer its 100% owned Pinchi Lake Nickel Project to a new subsidiary named NextCharge, ahead of spinning out shares to current shareholders on a 1-for-3 basis. The effective date for this transaction is set for December 5, 2022. CEO David Greenway emphasized that the spin-out will enhance value by allowing both companies to focus on their specific projects. The spin-out is subject to various conditions including regulatory approvals. Shareholders will own shares in both Recharge and NextCharge.

Recharge Resources Ltd. (RECHF) has received final approvals from Argentina’s Department of Mines to commence drilling at the Pocitos 1 Lithium Brine Project. Drilling is scheduled to start within the next week and is expected to continue for 7-10 days. The project aims to confirm flow rates and lithium content, contributing to a NI 43-101 compliant resource. Lithium prices are currently at US$72,865 per tonne. The company is focused on developing a production facility for battery-grade lithium, which has been highlighted by previous successful drilling efforts.

Recharge Resources Ltd. (RECHF: OTC) has completed its drill camp for the upcoming production-ready well drill program at the Pocitos 1 Lithium Brine Project in Salta, Argentina. The drill site is approximately 10 KM from the camp, with plans to drill a 400-meter well to confirm lithium brine continuity. This project aims to establish a compliant resource report. Recent drilling in the Salta area indicates significant potential for lithium production, with Recharge moving towards establishing a 20,000 tonne per year lithium extraction plant.

Recharge Resources Ltd. has appointed Mr. John Percival to its senior advisory board, focusing on plant financing for a lithium extraction facility at the Pocitos 1 Project in Argentina. Percival, with over 30 years in investment banking and experience managing over $500 million, will guide Recharge on leveraging the recently signed Ekosolve Agreement. The company aims to build a 20,000-tonne lithium extraction plant, which is vital for meeting supply agreements with clients. Recharge Resources continues to develop green energy solutions in the battery metals sector.