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Alpha Lithium Corporation (TSX.V: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1) (" Alpha " or the " Company ") is very pleased to announce that it has acquired the right, through its wholly owned Argentine subsidiary, to purchase two mining properties, totaling 3,800 Hectares, situated in the renowned Salar del Hombre Muerto, Argentina.

Subsequent to two previous acquisitions in the same salar (see news releases June 15, 2021 and August 24, 2021 ), Alpha now controls a 100% interest in 5,072 hectares in the Salar del Hombre Muerto and is the second largest landholder (second only to Posco) on the Salta side of the famous salar.

All of Alpha's 5,072 hectares are immediately bordered by Korean giant, Posco, which announced last week that it was investing US$4 billion in Hombre Muerto, up from its originally planned investment of US$830 million. This, after a drilling campaign increased its estimated lithium carbonate equivalent to 13.5 million tonnes – a sixfold increase over what was originally estimated when it acquired the property in 2018.

Brad Nichol, President and CEO of Alpha, commented, "The closing of this acquisition places Alpha amongst lithium giants and establishes the Company as a noteworthy participant in the world's highest quality lithium brine salar. As is the case for our operations in nearby Tolillar Salar, our focus is purely on achieving production as quickly as possible. To that end, we expect to commence drilling in Hombre Muerto very shortly." Nichol added, "The unique brine chemistry found in the Salar del Hombre Muerto makes it ideal for production of very high quality, battery grade lithium products. Livent Corporation has demonstrated this for over two decades, as they have produced lithium concentrates and lithium products from Hombre Muerto since 1998."

Hombre Muerto in Argentina, together with salars in neighboring Bolivia and Chile, is at the center of the so-called "Lithium triangle," which is claimed to host the world's largest lithium brine reserves.

Argentina Prime Holdings Inc. (" APH ") has agreed to assign the right to acquire properties to Alpha Minerals S.A., a wholly owned Argentine subsidiary of Alpha (" Alpha Minerals "), in consideration for the issuance of 2,500,000 common shares of Alpha to APH, subject to Alpha receiving all applicable regulatory approvals, including the approval of the TSX Venture Exchange and confirmation of registration of title to the properties under Alpha Minerals from the Argentine mining registry. Alpha Minerals has also agreed to assume the obligation of Alpha to pay up to US$225,000 to the seller pursuant to the sale agreement. The first US$25,000 payment will be due upon approval of the Environmental Impact Report in connection with the Company's proposed exploration of the new property, and US$200,000 is payable six months thereafter. APH may elect to receive up to 50% of the Second Payment in common shares of the Company, issued at then-current market pricing.

ON BEHALF OF THE BOARD OF Alpha Lithium CORPORATION

"Brad Nichol"

Brad Nichol
President, CEO and Director

For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
relations@alphalithium.com

About Alpha Lithium (TSX.V: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1)

Alpha Lithium is a team of industry professionals and experienced stakeholders focused on the development of the Tolillar and Hombre Muerto Salars. In Tolillar, we have assembled 100% ownership of what may be one of Argentina's last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres), neighboring multi-billion-dollar lithium players in the heart of the renowned "Lithium Triangle". In Hombre Muerto, we continue to expand our 5,000+ hectare (12,570 acre) foothold in one of the world's highest quality, longest producing, lithium salars. Other companies in the area exploring for lithium brines or currently in production include Allkem Limited (the combination of Orocobre Limited and Galaxy Lithium), Livent Corporation, and Posco in Salar del Hombre Muerto; Orocobre in Salar Olaroz; Eramine SudAmerica S.A. in Salar de Centenario; and Gangfeng and Lithium Americas in Salar de Cauchari.

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the results of further brine process testing and exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.


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ALLI:CA
Alpha Lithium

Alpha Lithium

Overview

The international community is in the midst of a battery revolution. Shares of electric vehicle maker Tesla (NASDAQ:TSLA) surged over 740 percent in 2020, then an additional 56 percent gain in 2021, making it one of the most valuable companies in the world. This dramatic increase in demand showcases the promising growth narrative of the electric vehicle boom.

The revolution for electric powered cars is not only being led by Tesla, but many other car companies including Nio (NYSE:NIO), with a year-over-year increase of 26 percent. Volkswagen (OTC Pink:VWAGY), General Motors (NYSE:GM), Nissan (OTC Pink:NSANY), Hyundai (OTC Pink:HYMTF) and Bayerische Motoren Werke, known as BMW (OTC Pink:BMWYY) are also investing heavily into the boom.

With the rising movement towards a sustainable and electric-powered world, the lithium that will be needed to support this rapid transition lends it the potential to become one of the most valuable resources in the world.

At the forefront of this rapid growth is Argentina, has the world’s third-largest lithium reserve and is the fourth-largest producer globally.
Alpha Lithium - Lithium Triangle

The famous Triángulo del Litio — the Lithium Triangle — is an under-explored area that is becoming a major host for investor-friendly projects prepared to embrace the potential of a lithium-powered future.

Alpha Lithium (TSXV:ALLI,OTC Pink:APHLF) is one of many pursuing lithium in this region, given its potential to be one of the last greenfield project opportunities in this section of the world.

Alpha Lithium is a development company that is focused on highly prospective lithium production of its Tolillar Salar project in Salta province, Argentina.

The company has been able to leverage its 100-percent ownership and work towards repeating the successes of its highly established lithium producing neighbor. There is promising potential for Alpha Lithium to thrive as the company is surrounded by notable players.

Alpha Lithium’s flagship Tolillar Solar project is located in Northwest Argentina near the heart of the Lithium Triangle. Its highly accessible infrastructure connects the project site to Salta and San Antonio de Los Cobres by paved road networks, natural gas resources and a skilled local workforce.

The company recently purchased two mining properties in the renowned Salar del Hombre Muerto, Argentina. Nestled right alongside its existing property, the company controls interest in a total of 5,072 hectares in what many claim to host the world’s largest lithium brine reserves. This land is immediately bordered by Korean giant, Posco, which recently announced that it was investing US$4 billion in Hombre Muerto, up from its originally planned investment of US$830 million. The increase follows a drilling campaign that increased its estimated lithium carbonate equivalent sixfold from a 2018 estimate to 13.5 million tonnes.
Alpha Lithium - Lithium Triangle

In two geophysical surveying campaigns, the company discovered structural trends that mimicked the Salar del Hombre Muerto horizon. This basin hosts one of the longest operating lithium brine producers in the world with over 25 years of active extraction.

“We consider the geological similarities between the Tolillar Salar, and other nearby salars like Hombre Muerto, to be very encouraging,” said Brad Nichol, president and CEO of Alpha Lithium.

Additionally, the project’s discovery and exploration plans are especially exciting for Alpha Lithium (TSXV:ALLI,OTC Pink:APHLF) due to the high-producing mining companies situated near Tolillar Salar.

Local operations include Livent Corporation (NYSE:LTHM) with a market cap of approximately US$3.2 billion and POSCO (NYSE:PKX) with an approximate market cap of US$23.2 billion.
Alpha Lithium - Tolillar Salar

Alpha Lithium presents a unique entry opportunity for investors as an emerging player in the lithium production space.

Global demand for lithium is expected to rise from an estimated 47,300 tonnes in 2020 to 117,400 tonnes in 2024, according to a GlobalData report.

Vinneth Bajaj, a senior mining analyst for GlobalData, said lithium demand will be driven by a surge in EV sales, with annual production expected to go from 3.4 million vehicles in 2020 to 12.7 million in 2024.

Lithium-ion battery production is also forecast to rise from 95.3 GWh in 2020 to 410.5 GWh over the same period. A Fastmarkets report from 2021 explains that the projected EV market penetration will increase from 15 percent to 35 percent by 2030. This sustained increase in demand could strain supply, showing the growing value of Argentine lithium deposits.
Alpha Lithium - Forecast

Alpha Lithium received promising VES geophysical survey results at its Tolillar lithium project and is preparing permit applications for exploration.

These achievements put Alpha Lithium on track for project expansion and execution of the company’s well-engineered six-phase approach for developing its major emerging lithium assets.

Timeline – A Six Phased Approach

Timeline \u2013 A Six Phased Approach

Company Highlights

  • Alpha Lithium is an emerging lithium development company focused on exploring its highly prospective, under-developed lithium assets in Salta province, Argentina.
  • The company currently owns 100 percent of its Salar with over CAD$100 million in funding.
  • Alpha Lithium’s flagship Tolillar Salar project is located near the heart of the Lithium Triangle, surrounded by multi-billion dollar lithium producers with decades of active lithium production.
  • The project site’s infrastructure strategically positions the project nearby accessible electricity lines, paved road networks, natural gas resources and a skilled local workforce.
  • Two geophysical surveys have supported theories that the Tolillar Salar property mimicked structural trends of the Salar del Hombres Muerto, one of the world’s longest-producing lithium brine basins.
  • After two acquisitions in the same salar Alpha now controls a 100 percent interest in 5,072 hectares in the Salar del Hombre Muerto and is the second largest landholder, after Posco, on the Salta side of the famous salar.
  • All of Alpha’s 5,072 hectares are immediately bordered by Korean giant, Posco, which recently announced that it was investing US$4 billion in Hombre Muerto, an increase from its originally planned investment of US$830 million due to a drilling campaign increased its estimated lithium carbonate equivalent sixfold, to 13.5 million tonnes.
  • Alpha Lithium is primed for project expansion and permit acquisition as drilling campaigns are presently underway.

Key Projects

The Tolillar Salar Project

The Tolillar Salar property covers 27,500 hectares and consists of 10 exploration concessions registered in the Salar de Tolillar basin in Argentina’s Salta province. With limited exploration history, and a strategic location nearby several lithium producing heavyweights, the Tolillar Salar project puts Alpha Lithium in a unique first-mover position for significant mining success.

The Tolillar Salar occupies an internally drained basin with much of the property’s rock formation dating back to the Ordovician period. This geological makeup has created a sediment profile that includes younger continental sediments, salt crusts and evaporite deposits.

This property is in close proximity to the Hombre de Muerto Salar, a premier lithium brine basin. The company recently acquired 3,800 hectares in this area, expected to yield high-grade lithium discoveries with low impurities.

Early stage investigations have already revealed lithium concentrations up to 504 mg/l in a sampling campaign from 2015. With drilling licenses approved, Alpha Lithium is ready to commence an advanced drill program.

The company has conducted two substantial geophysics surveying programs and accomplished development goals under budget and ahead of schedule. This trend in lithium exploration shows promise for the future of the project.

Location

Alpha Lithium is located less than 10 miles away from Livent, which has a market cap of over US$3 billion and over 20 years of production from the nearby property. The company is strategically located approximately six miles from Livent's high-quality, low-impurity Fenix Project.

Immediately adjacent to Livent is South Korean company Posco (NYSE:PKX), with a staggering market cap of around US$20 billion. Posco has been very busy in the area, expanding on their lithium project that they bought from Australian lithium miner Galaxy Resources, now Alkem (ASX:AKE), for US$280 million in 2018.

The Tolillar project area has never been extensively explored, yet is located in prime territory, directly near a concentration of major lithium producers, providing a significant portion of the international lithium supply.

Alpha Lithium

The world’s going to need more lithium mines due to the unprecedented lithium-ion battery demand required to fuel electric vehicles and energy-hungry devices. With a project located in the coveted Lithium Triangle in South America, Alpha Lithium could be sitting on a potentially massive lithium discovery.

The management team at Alpha Lithium comprises industry professionals and experienced stakeholders with years of expertise in mining, exploration and capital markets. This well-connected team uses a proven de-risk approach, priming the company for significant growth on the global lithium market.

Management Team

Brad Nichol - President & CEO

Brad Nichol is an international entrepreneur who has served and advised corporations on strategy and finance for over 25 years. Throughout his career, Nichol has served as both senior executive and director of several public and private enterprises across the finance and resource sectors. He has led successive organizations through multiple rounds of private and public project financing, initiated and executed dual listings and established key international and domestic financial relations. Nichols also has significant experience in various business functions including financial, operational, human resources, investor relations and legal and regulatory processes.

Previously, Nichol worked at Schlumberger, the world’s largest oil and gas services firm, in various technical, managerial, marketing and sales roles in North America, South America and Europe. He left Schlumberger to pursue his MBA at one of the world’s top-ranked business schools, the London Business School in the UK, Nichol he graduated with honours in 2003. Nichol also holds a BSc. in Mechanical Engineering from the University of Alberta and has been a registered Professional Engineer since 1994.

David Guerrero - Country Manager

David Guerrero brings almost 20 years of international experience in the mining industry, 10 of which are specifically related to lithium as a specialty product. He has held various roles with mining major Rio Tinto as well as senior management positions with Canadian company, Lithium One, and with Australia-based Galaxy Resources. In this capacity, Guerrero undertook a critical functional role in a recent US$280 million M&A transaction with giant South Korean steelmaker POSCO for mineral resources at the Salar del Hombre Muerto, the best quality brine producing district in Argentina. He was also the former president of the Salta Mining Providers Chamber and the AUSCHAM Argentina chapter’s vice president. Guerrero brings indispensable local knowledge and communal leadership to Northern Argentenian projects.

Nathan Steinke - CFO

Nathan Steinke is a highly respected financial professional with over 15 years of experience at public and private companies in the international resource sector. Since 2003, Steinke’s responsibilities have included all of the companies’ financial aspects, including debt and equity financing, corporate structure design and management, cash flow management and forecasting, legal and regulatory compliance, stakeholder engagement and reporting, dual listing execution and management and risk management.

Foster Wilson - Director

Foster Wilson has over 30 years of experience in explo­ration and development, including reserve drilling and estimation, feasibility studies, mine permitting and development. He has worked in various capaci­ties for Placer Dome, Echo Bay, American Bonanza Gold and different junior exploration companies. Foster also currently serves as president of Mesa Exploration.

Sean Charland - Director & Corporate Secretary

Sean Charland is a seasoned communications professional with experience in raising capital and marketing resource exploration companies. His network of contacts within the financial community extends across North America and Europe. Charland also serves as a director of Maple Gold Mines, Arctic Star Exploration, Eyecarrot Innovations and Voltaic Minerals.

Andrew Hallett - Director

Andrew Hallett is a commodity transaction specialist with over 10 years of cross-commodity investment experience within investment banking, trading, and asset management. Hallett is currently a partner at Rice Capital and an investment advisor specialized in alternative investments, focusing on upstream metals and mining investments in critical raw materials. Hallett received a bachelor’s of arts in economics from the Augustana Faculty of the University of Alberta and a master’s of science in finance from the London School of Economics. He was previously a director within the commodities investments group at BTG Pactual Commodities, responsible for all principal investments and structured finance transactions in metals, mining and energy. His prior experience includes commodity investment roles within global markets at Deutsche Bank as a senior structured originator and as a director at Natsource Asset Management.

Chris Cooper - Director

Chris Cooper has over 20 years of management and finance experience in the oil and gas, mining and technology industries. Cooper received his B.A. from Hofstra University and his M.B.A. from Dowling College, both in New York State. He has been involved in the creation and funding of several oil and gas issuers, including Choice Resources Corp., an intermediate oil and gas producer, before it was taken over in August 2007 by Buffalo Resources Corp. Cooper also sits on the board of other junior public companies, including Counterpath Corporation, Westridge Resources Inc, Bullion Gold Resources Corp. and Planet Mining Exploration Inc. He has sat on the audit committee of many public companies in several different industry sectors and has a broad, comprehensive knowledge of financial reports.

Darryl Jones - Director

Darryl Jones has over 15 years of capital market experience and an estab­lished financial network. Jones was an investment advisor in Canada with PI Financial and Raymond James. He was responsible for raising significant risk capital for growth companies in all sectors, focusing on natural resources.

Pedro Mauricio Torres - Technical Advisor

Pedro Mauricio Torres is a metallurgical Engineer with 17 years of experience in operation, process and projects of chemical plants. He has 10 years of experience in SQM Salar, where he participated in developing the new lithium hydroxide plant, expansion of the lithium carbonate plant to 70,000 tonnes per year. In recent years, Torres has also worked as process advisor for Galaxy Lithium, Tianqi Lithium and Eramet Chilean Lithium Salars.

Adrian Sergio Arias - Technical Advisor

Adrian Sergio Arias has over 22 years of experience in the operation of various chemical plants. Arias has dedicated the last seven years to developing technologies and process improvements for the processing of lithium brines. He has also worked in exar with Lithium Americas to develop the Cauchari Lithium project, recently taking on the position of process manager of Galaxy Lithium in the Sal de Vida project, located in the Salar del Hombre Muerto.

InvestmentPitch Media Video Discusses Alpha Lithium's Securing of US$30 Million Investment from Uranium One with Right to Invest Additional US$185 Million at Tolillar Salar, Argentina - Video Available on Investmentpitch.com

InvestmentPitch Media Video Discusses Alpha Lithium's Securing of US$30 Million Investment from Uranium One with Right to Invest Additional US$185 Million at Tolillar Salar, Argentina - Video Available on Investmentpitch.com

Alpha Lithium Corporation (TSXV: ALLI) (OTC Pink: APHLF) has secured a US$30 million investment from Uranium One Group.

Uranium One Group, (www.uranium1.com) one of an international group of companies, all wholly owned subsidiaries of the Russian State Atomic Energy Corporation, better known as Rosatom, manages one of the world's largest uranium mining holdings with a diversified portfolio of assets.

For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Alpha Lithium" in the search box.

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/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

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/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

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/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

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/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

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