Argentina Lithium Closes Non-Brokered Private Placement and Acquisition of Rinconcita II at Salar de Rincon

/NOT FOR DISTRIBUTION TO THE UNITED STATES /

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market (OTC): PNXLF

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") announces that it has closed the private placement announced on July 21, 2022 and increased on August 9 and August 11, 2022 through the issuance of 10,415,000 Units in this 2 nd and final tranche (the "Final Tranche") for aggregate gross proceeds to the Company of $2,083,000 . In total, the Company has closed on 16,630,000 Units for aggregate gross proceeds of $3,326,000 . The Company has also closed the acquisition of the Rinconcita II mining concession area ("Rinconcita II") located on the Salar de Rincon in Salta Province Argentina from provincially-owned company Recursos Energéticos y Mineros Salta S.A. ("REMSA"), as previously announced by the Company on July 21, 2022 .

Each Unit consists of one common share and one transferrable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.38 per share for two years from the date of issue, expiring on August 25, 2024 for this Final Tranche.

No Finder's Fees were paid in the Final Tranche. In total, $36,260 were paid in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 181,300 non-transferable finder's warrants were issued (the "Finder's Warrants"). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.38 per share for two years from the date of issue, expiring on August 25, 2024 .

There were no insiders who participated in the Final Tranche, however, certain insiders of the Company participated in the Private Placement for $20,000 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.

A new Control Person on a diluted basis was created in this tranche. This individual has agreed that he will not exercise any of the Warrants if such exercise will result in his beneficially owning or having control or direction over that number of voting securities of the Company which is 20% or greater of the total issued and outstanding voting securities of the Company, immediately after giving effect to such exercise, or result in the undersigned becoming a "Control Person" as defined in the policies of the TSX Venture Exchange (the "Exchange").

This financing is subject to regulatory approval and all securities to be issued pursuant to this Final Tranche of the financing are subject to a four-month hold period expiring on December 27, 2022 .

The proceeds of the financing were used, in part, to complete the acquisition of Rinconcita II from REMSA. The balance of the proceeds will be used for general working capital and exploration on its properties in Argentina . In consideration for the acquisition of Rinconcita II, the Company made a payment to REMSA of USD$2,500,000 and granted REMSA a 3% net smelter return of mineral and refined products sourced from Rinconcita II over its production life, if the property advances to the production stage. The Company's acquisition of Rinconcita II is subject to the final acceptance of the Exchange which should be available upon filing of a signed copy of the agreement with the Exchange.

About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina and has assembled a first rate team of experts to acquire and advance the best lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"
_______________________________
Nikolaos Cacos , President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States .

Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur and include statements regarding regulatory acceptance of the Company's private placement and acquisition of Rinconcita II and statements regarding the Company's proposed use of proceeds of the private placement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE Argentina Lithium & Energy Corp.

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/August2022/25/c1611.html

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Argentina Lithium & Energy TSXV:LIT Battery Metals Investing

LIT:CA

Argentina Lithium Announces Positive Lithium Values in the 12th Exploration Well at the Rincon West Project

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQX Venture Market: LILIF

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) ("Argentina Lithium" or the "Company") reports positive results from the twelfth exploration hole at its Rincon West Project in Salta Province Argentina . Brine samples collected over a 165 metre interval of RW-DDH-012 ranged from 322 to 371 mgl lithium.

"Our ongoing drilling continues to evaluate the Rinconcita II concession that extends from our original claims, eastwards over the salt flat towards the neighboring Rio Tinto concessions. Our twelfth hole demonstrates a long interval of impressive lithium values in porous host lithologies. Thus far, our drilling at Rincon West demonstrates a continuous aquifer of concentrated lithium brines over an extensive basin." stated Miles Rideout , V.P. of Exploration.

The results including sampling method, the sample interval data, and the brine analyses for RW-DDH-012 are shown in Table 1. Drill collar information is presented in Table 2. An extensive selection of core samples has been sent to an independent laboratory for brine recovery testing; results are pending.

The Rincon West Project covers 5198.8 hectares of the salar basin, consisting of three property blocks adjacent to Rio Tinto's Rincon Project. Drill hole RW-DDH-012 represents the third exploration hole of the 6-hole program planned for the Rinconcita II property, announced in the Company's October 19, 2023 News Release. The Company is currently completing the access to the next drill platform (RW-DDH-013), representing a further 1000 m step towards the northeast corner of the property block.

Figure 1 presents a map of the western (main) block of the Rincon West project showing the positions of the twelve completed exploration holes (see News Releases dated July 13, 2022 , October 3, 2022 , October 25, 2022 , January 26, 2023 , April 24, 2023 , May 31, 2023 and January 22, 2024 ). The drill locations are overlain on the conductive zones (shaded yellow) delineated by two geophysics campaigns (see News Releases dated May 2, 2022 and October 19, 2023 ).

Table 1: Interval data and results of brine analyses for lithium, potassium, and magnesium for drill hole RW-DDH-01 2*

Sample Interval (m)			Sample Method	Li	K	Mg	Density
From	To	Thickness	Sample Method	(mg/litre)			(g/ml)
RW-DDH-012
48.5	51.5	3.0	Single packer	337	6284	3062	1.201
54.5	57.5	3.0	Single packer	345	6667	3116	1.204
60.5	63.5	3.0	Single packer	355	6884	3143	1.207
66.5	69.5	3.0	Single packer	365	7230	3169	1.212
78.5	81.5	3.0	Single packer	363	7210	3208	1.216
96.5	99.5	3.0	Single packer	329	7087	2764	1.218
102.5	105.5	3.0	Single packer	339	7262	2867	1.218
108.5	111.5	3.0	Single packer	356	7483	3034	1.216
120.5	123.5	3.0	Single packer	347	7202	2971	1.215
126.5	129.5	3.0	Single packer	366	7260	3184	1.212
132.5	135.5	3.0	Single packer	352	7152	3067	1.213
138.5	141.5	3.0	Single packer	371	7451	3298	1.214
144.5	147.5	3.0	Single packer	356	7192	3157	1.216
156.5	159.5	3.0	Single packer	345	7054	3091	1.219
162.5	165.5	3.0	Single packer	335	6858	2998	1.219
168.5	171.5	3.0	Single packer	315	6679	2827	1.22
174.5	177.5	3.0	Single packer	324	6696	2893	1.219
180.5	183.5	3.0	Single packer	327	6694	2914	1.218
186.5	189.5	3.0	Single packer	323	6685	2874	1.217
192.5	195.5	3.0	Single packer	324	6744	2897	1.218
198.5	201.5	3.0	Single packer	324	6718	2860	1.217
204.5	207.5	3.0	Single packer	322	6697	2827	1.217
210.5	213.5	3.0	Single packer	324	6717	2834	1.217

*The drill hole was inclined vertically; the brine hosting strata are believed to be flat lying resulting in reported intervals approximating true thickness.

Drilling Methodology

RW-DDH-012 was executed with HQ-diameter diamond drilling, permitting the extraction of core samples of the salar basin formations and the recovery of brine samples where possible.

Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists.

Table 2: Collar and maximum depth information for RW-DDH-012
Hole ID	East	North	Elevation	Azimuth	Dip	Depth
	UTM Zone 19S (WGS84)		(m)	(deg.)	(deg.)	(m)
RW-DDH-012	684144	7337989	3722	n/a	90	339.0

LIT's preferred method for brine sampling deploys a 'single packer' sampling unit during drilling. The packer sampling method allows the recovery of brine samples at specific depths while sealing the hole at the top and bottom of the interval. For single packer sampling, an inflatable seal closes the top of the interval; the lower limit of drilling represents the bottom of the interval.

Geophysical profiling and lining the hole with 2" diameter PVC filters have been completed. All core samples recovered in drilling were retained for geologic logging.

Observations regarding RW-DDH-012

RW-DDH-012 extends drilling eastwards from previous holes over the Rincon salt flat. The hole was completed to 339.5 m depth and a total 23 brine samples extracted using the single packer method were submitted for analysis.

Samples collected between 48.5 m depth and 213.5 m depth (the deepest sample) ranged from 322 to 371 mg/l lithium. Over this 165 m interval, 23 single packer brine samples were collected from discrete 3 m intervals, totalling 69.0 m of sampling, which represents 41.8% of the total interval.

From surface to 20 m depth, gravels with a sandy-clayey matrix were drilled. Dacite was recovered from 20.0 to 22.9 m , whereupon the drill crossed coarse gray-brown sand, to 52.3 m . Fine black sands were then sampled to 106.5 m depth, followed by reddish clayey sand to 122 m . The drill sampled fine black sands to 129.5, followed by coarse red sand to 135.5 m , then medium brown sand to 144.5 m . Breccia with grey sandy matrix was crossed to 151.0, with clasts of andesite and other compositions. Fine reddish and gray sands were then drilled to 177.4 m , where sulphates were encountered, extending to 178.2 m . Brown, medium-grained sand was then drilled to 180.5, followed by breccia to 185.5 m . Between 185.5 m and 201.4 m , the drill sampled andesitic porphyry with veinlets. From 201.4 to 339.5 m , the drill sampled a sequence of volcanic units (porphyries, breccias and ignimbrites, among others) characterised by the presence of fractures and carbonate or quartz veinlets. Brine sampling in these relatively competent basement units proved unproductive below the initial weathered zone.

Analyses and QA/QC

Samples of brine were submitted for analysis to Alex Stewart International Argentina S.A. ("Alex Stewart"), the local subsidiary of Alex Stewart International, an ISO 9001:2017 certified laboratory, with ISO 17025:2017 certification for the analysis of lithium, potassium and other elements. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry ("ICP-OES") as the analytical technique for the primary constituents of interest, including boron, calcium, potassium, lithium, and magnesium. Measurements in the field included pH, electrical conductivity, temperature and density.

The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and reference standard samples included within the sample sequences. For hole RW-DDH-012 the lot contained one blank and two duplicate samples, which all reported within the acceptable range. Single low-grade, medium-grade and high-grade reference standard samples (3 standards in total) were included within the submitted sample suite. The low-grade reference standard analysed higher than 3 standard deviations (SD) of best value, with 8.6 relative percent difference (RPD); the medium-grade reference standard analysed below 3 SD of best value, with 4.9 RPD; the high-grade reference standard analysed below 3 SD of the best value; with 2.9 RPD.

Qualified Person

Frits Reidel , CPG is a Qualified Person as defined in National Instrument 43-101, is the Principal of Atacama Water Consultants, and is independent of Argentina Lithium. Mr. Reidel has reviewed the work carried out by the Company's exploration team at the early-stage Rincon West property. The disclosure in this news release has been reviewed and approved by Mr. Reidel.

About Argentina Lithium

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The Company's recent strategic investment by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects covering over 67,000 hectares in the Lithium Triangle of Argentina . Management has a long history of success in the resource sector of Argentina and has assembled some of the most prospective lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

_______________________________
Nikolaos Cacos , President, CEO and Director

www.argentinalithium.com

This news release contains forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments management of the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Accordingly, readers should not place undue reliance on the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the state of financial markets in Canada and other jurisdictions; the Company's ability to meet its working capital needs; fluctuations in metal prices; operations in foreign countries and the compliance with foreign laws; environmental regulations or hazards and compliance with regulations associated with mining activities; climate change and climate change regulations; fluctuations in foreign currency exchange rates; failure to obtain or delays in obtaining necessary governmental and regulatory approvals; labour disputes and other risks generally in the mining industry. There may be other factors that cause results or events to not be as anticipated. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's Management's Discussion and Analysis for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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SOURCE Argentina Lithium & Energy Corp.

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Argentina Lithium and Energy: Invitation to Red Cloud's Pre-PDAC 2024 Mining Showcase

Argentina Lithium and Energy (TSXV: LIT) (OTCQX: LILIF) is pleased to announce that the company will be presenting at Red Cloud's Pre-PDAC 2024 Mining Showcase. We invite our shareholders and all interested parties to join us.

The annual conference will take place in-person at the Sheraton Centre Toronto Hotel February 29-March 1, 2024.

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Argentina Lithium Announces Commencement of Trading on OTCQX Market and New Symbol

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQX Market (OTCQX): LILIF

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF), ("Argentina Lithium" or the "Company") is pleased to announce that its common shares are now trading on the OTCQX Best Market under the ticker symbol of LILIF . The OTCQX Best Market is the highest market tier of OTC Markets on which 12,000 U.S. and global securities trade. Trading on OTCQX will enhance the visibility and accessibility of the Company to U.S. investors. Argentina Lithium's common shares will continue to trade on the TSX Venture Exchange under the symbol LIT, and on the Frankfurt Stock Exchange under the symbol OAY3.

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VIDEO: Lithium Universe Limited Alex Hanly CEO Interview - Becancour Refinery Project

Melbourne, Australia (ABN Newswire) - In this interview, Lithium Universe Limited (ASX:LU7) CEO Alex Hanly talks about the company's business strategy, government engagement and fieldwork around the Becancour Lithium Refinery Project.

The project is advancing well and remains on track. Key milestones include finalizing the plant layout, issuing technical specifications for capex estimation, and progressing with supplier quotation activities. Environmental site visits and studies are ongoing, with no significant issues identified. Hatch's transition from Brisbane to Montreal offices is smoothly underway, ensuring continuity in project management. Early contractor engagement and strategic risk assignment are mitigating potential delays. Overall, the project is adhering to its timeline, with significant progress in engineering and procurement, ensuring readiness for a capital cost estimate and commitment to ensure environmental compliance with the regulatory framework.

To Watch the Video Interview, please visit:
https://www.abnnewswire.net/lnk/05GX0H86

About Lithium Universe Ltd:

Lithium Universe Ltd (ASX:LU7) (OTCMKTS:ESMAF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

Source:
Lithium Universe Ltd

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GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce the following update

The Company continues to be highly encouraged by its primary core project known as the Mexican Hat gold deposit located in SE Arizona. The Company's Preliminary Economic Assessment" PEA" reports 36.7 million tonnes grading 0.58 gpt gold in a 688,000 ounce Inferred Mineral Resource. An open pit with a 1.87:1 strip ratio was modeled to extract 32.6 million tonnes of this deposit recovering 525,000 ounces of gold over a 10-year mine life. This is a low capital cost operation, total cost of US$67.8 million, which includes US$12 million in contingency and US$13 million in sustaining capital. Heap leach testing demonstrates an exceptional recovery of 88% of the gold from a two-stage crushing circuit.

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Victory Updates Management

Victory Battery Metals CORP. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) is pleased to announce that its board of directors now consist of Gerald Tritt, David Stadnyk and George Tsafalas, all of Vancouver, BC. David Stadnyk has assumed the role of president and CEO. The Company intends to close its recently announced Yellow Chief Uranium acquisition in the next 10 days

The Company wishes to thank Mark Ireton for his service to the company and wishes him well in his future endeavors.

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CENTURY LITHIUM CHANGES PROJECT NAME TO ANGEL ISLAND MINE

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or the Company) announces it has changed the name of its 100%-owned Clayton Valley Lithium Project in Nevada, USA to the Angel Island Mine (the Project). In April 2024 the Company announced a positive Feasibility Study for the Project, making it one of the few advanced lithium projects being developed in the United States . As the Company now continues to work towards permitting the Project, regulators encouraged a name change for clarity in the permitting process. The Angel Island name distinguishes it from other mining and energy projects in the area by using the name of a topographical feature from the Project.

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Brunswick Exploration Outlines New Spodumene Rich Boulder Trains at Mirage and Launches Summer Drill Campaign

Brunswick Exploration Inc. (" BRW " or the " Company ") is pleased to announce the completion of the 2024 prospecting program and start of a 5,000-metre summer drill program at the Mirage Project, located in the Eeyou Istchee-James Bay region of Quebec. To date, 71 drill holes and more than12,000 meters have been drilled on the Mirage project which have delineated nine near-surface spodumene-bearing pegmatite dykes, all of which remain open at depth and along strike. Approximately two dozen additional dykes, with widths ranging from 8 metres to approximately 20 metres, have also been intercepted in the two previous campaigns with minimal to no follow-up work. The proposed program will focus on MR-6, MR-3 and MR-4 as well as new targets that were delineated using drilling, geophysics, till mineralogy and prospecting.

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Lithium Universe Ltd Becancour Lithium Refinery Project Update

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (OTCMKTS:ESMAF) is pleased to announce a project update of the Becancour Lithium Refinery Project. The project is advancing well and remains on track. Key milestones include finalizing the plant layout, issuing technical specifications for capex estimation, and progressing with supplier quotation activities. Environmental site visits and studies are ongoing, with no significant issues identified. Hatch's transition from Brisbane to Montreal offices is smoothly underway, ensuring continuity in project management. Early contractor engagement and strategic risk assignment are mitigating potential delays. Overall, the project is adhering to its timeline, with significant progress in engineering and procurement, ensuring readiness for a capital cost estimate and commitment to ensure environmental compliance with the regulatory framework.

Highlights

- Project is advancing well and remains on track

- Engineering milestones include plant layout, equipment packages, datasheets, scopes of work, and specifications

- Procurement priority one packages for quotes about 60% complete

- Early contractor engagement and strategic risk assignment

- Environmental work is progressing with no show-stoppers identified to date

- Strong engagement from Federal, Provincial and Local Government

- Becancour Lithium Refinery well aligned with Provincial strategy

- Mature local government support and project understanding

Procurement

Procurement activities include sending technical specifications to suppliers for detailed quotations to build the capex estimation. For priority one mechanical equipment, nine packages have been issued, with seven offers received and evaluations currently underway. Five priority one electrical equipment supply packages will be issued for inquiry within the next week. The goal is to evaluate all priority one packages by the end of September.

Due to potential lead times for electrical transformers, the tenderer list will be expanded to reduce these lead times.

Engineering

The major engineering activities include finalizing the plant layout and preparing documentation for equipment packages, such as datasheets, scopes of work, and specifications. Key tasks also involve creating the main power distribution single line diagram and providing clarifications during the tender period. Additionally, proposals received are being thoroughly reviewed to ensure they meet project requirements. Effective handling of process effluent and site runoff is another critical focus area. The development of the package register, material take-offs (MTOs), and comprehensive equipment lists are ongoing, ensuring all necessary components and details are accurately documented and organized for the project's successful execution.

Plant Layout

The first release of the plant layout has been published, with several features still under development. These include new plant areas such as the boiler plant and process effluent treatment. Structural framing of buildings and HVAC systems are in progress, along with civil works encompassing drainage, road pavements, vehicle paths, sedimentation ponds, and car parking. The location and number of plant switch rooms is being optimised.

Efforts are being made to enhance spodumene and residue storage, focusing on materials handling and capacity. Additionally, the routing of major pipe and cable racks is being planned. The layout on-site is being designed with consideration of likely environmental constraints to ensure compliance and sustainability. These developments aim to enhance the overall efficiency and effectiveness of the project.

Environmental Work

The team is actively involved in field inventories to develop knowledge of the biodiversity present on site. Four field campaigns have been carried-out to survey the presence of short-eared owls, breeding birds, fish and fish habitat, and wetlands. Based on preliminary results, no species at risk nor species of concern as listed under the Canadian Species at Risk Act (SARA) have been identified so far. The project team is also engaged in activities to optimize the site layout and reduce encroachment on wetlands identified on the property. Surveys are expected to be completed during the Canadian Summer. Field inventory results will be used to support environmental permitting activities and discussions with the Regulators to ensure site layout and the design of the industrial facility are developed in full compliance with the environmental regulatory framework.

A Phase I study to understand previous uses of the site is progressing and no potential environmental liability has been identified based on preliminary results. The Phase I Study is expected to be completed by the end of July. Over the coming months, the team is expected to initiate the preparation of permitting documents to ensure the Project follows formal approval lines.

Priorities

The highest priorities for the next few months include finalising the environmental permitting and approvals program, which entails completing the initial field survey, briefing with the Ministry, finalising the Phase 1 Report, and preparing the first application. Engineering work necessary for the environmental permit application is also a top priority, focusing on civil design, updated plant layout, and water management strategy. In parallel, equipment procurement will involve preliminary engineering, securing vendor proposals, and establishing schedules. Confirming the treatment of process effluent and site runoff is crucial for environmental compliance.

Additionally, commencing civil and structural engineering work is essential to maintain project momentum.

Finalising the plant layout will ensure all components are correctly positioned and integrated. Lastly, execution phase planning will be progressed, contingent on the monthly budget, to ensure that all activities are appropriately funded and scheduled for efficient project advancement.

Government and Community Engagement

A trip by key leadership members to Eastern Canada. The delegation, led by CEO Alex Hanly and including Chairman Iggy Tan, Board Directors Patrick Scallan and Dr. Jingyuan Liu, and Canadian Director, Victoria Vargas, engaged with government stakeholders, community partners, and industry peers. The meetings in Montreal, Becancour, Quebec City, and Ottawa reinforced the Company's strategy to address the Lithium Conversion Gap in North America and provided updates on our engineering progress and commercial discussions.

Ministry of Economics, Innovation, and Energy

A meeting was held in Quebec City with the Honourable Minister Pierre Fitzgibbon, Minister of Economics, Innovation, and Energy. This follows the Company's initial presentation of the Company's unique strategy in November 2023 in Dubai. Once again, Minister Fitzgibbon expressed enthusiasm for our engineering progress, the acquisition of the Option agreement within the Becancour Industrial Park, and the Hydro-Quebec application for an estimated 22.5MW energy allocation for our Becancour Lithium Refinery.

Lithium Universe emphasized Quebec's strategic benefits, including hydroelectric power, proximity to the James Bay region, and logistic advantages with port access to the transatlantic region. The Minister reiterated his support for our vision of transforming Quebec into the Centre of Lithium Conversion for the transatlantic region.

The Company is impressed with the forward-thinking provincial government of Quebec and the progress of the Strategic Innovation Zone under the pragmatic guidance of Minister Fitzgibbon.

Becancour Lithium Refinery Site

In February 2024, the Company successfully executed an option agreement to acquire a refinery site strategically located within the Becancour Waterfront Industrial Park (BWIP). The site in Becancour, close to Trois-Rivieres, lies between Montreal and Quebec City and is near major highways and railways. The Port of Becancour supports year-round operations with deep-water access. The site offers low-cost hydroelectric power, robust infrastructure, and comprehensive water and waste facilities, ideal for the proposed Lithium Refinery.

The Company once again met with key executives from the BWIP in Becancour. The meeting focused on the Company's progress in site evaluation activities and included a presentation on the process design, featuring pictures from a reference lithium carbonate refinery. The port was confirmed to have the capacity to manage 50,000-ton bulk shipments, exceeding the Company's initial requirements. The Company had the opportunity to inspect Lot 22, encompassing an area of 27-hectare, and view the proximity to infrastructure and immediate tiein to existing BWIP utilities. The SPIPB team provided an overview of planned expansions and facility upgrades to the onsite infrastructure, positioning Becancour as a leader in offering prime industrial real estate in Quebec.

The Company will be looking to commence various community initiatives to integrate the industrial site into the wider community.

Municipality of Becancour

The Company met with the Mayoress of Becancour to discuss the Company's objectives to contribute to the local economy by providing hundreds of employment opportunities and helping to realize its economic potential.

LU7 reaffirmed its commitment to the Becancour and wider Trois-Rivieres region, pledging to support various social, community, and environmental initiatives in the coming years. The Mayoress expressed enthusiasm for the Company's plans within the SPIPB, recognizing the development of a proven and reliable design with internationally aligned process outputs.

Provincial Government - Quebec

The Company also met with key delegates in Montreal from Investissement Quebec (IQ), the Ministry of Natural Resources and Forests (MRNF), Energy Transition Valley Innovation Zone, and the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks. The provincial government has identified a lithium conversion gap within the supply chain, crucial for servicing the expected increase in spodumene supply from the James Bay region in the coming years. Quebec is a North American leader in attracting foreign direct investment, sustainable development, and supporting battery metals projects. The province has a strong history of supporting lithium battery supply chain development, with significant provincial and federal government incentives.

Recent government support includes the General Motors (GM) and Korea-based POSCO Chemicals' US$1 billion cathode active material (CAM) factory, the Ford/EcoPro BM US$800 million cathode factory, and Northvolt's US$7 billion EV Battery Facility at Saint-Basile-le-Grand. This creates a favourable regulatory environment for the Company's project, ensuring robust support throughout the cycle.

Canadian Federal Government - Ottawa

The Company met with various federal government stakeholders from Invest in Canada (IIC), Natural Resources Canada (NRCAN), Innovation, Science and Economic Development (ISED), and Export Development Canada (EDC). Given the lack of refining capacity in Canada, LU7's lithium carbonate plant is an innovative project, as there are no current operating or planned facilities of this kind within the country. Building lithium conversion capacity alongside spodumene mines will enable Canada to become wholly self-sufficient in the lithium chemical supply chain.

Hatch - Montreal

The Company and its engineering partner, Hatch, held a productive meeting at the Montreal office to align their shared culture and fast-track development vision. They reinforced the philosophy of "same process, same equipment, same supplier," which minimizes technical risks, ensures quality, and reduces costs. The operational environments in Australia and Canada share many similarities, facilitating the integration of skills into Quebec.

Hatch's leadership in building lithium conversion facilities and tackling challenging projects validates the decision to partner with them. Through this collaboration, the Company acknowledges Hatch's expertise as the premier lithium refinery engineering expert.

Lithium Universe Chairman, Iggy Tan said, "The project is on track, finalizing plant layout, issuing capex specs, progressing supplier quotes, with smooth office transition, and no environmental issues, ensuring readiness for capex cost estimate. The reception from federal, provincial and local government delegates has left a very positive impression on the LU7 Board of Directors. The region has made strong commitments since releasing the Critical Minerals Strategies four years ago and we have seen that in the significant investments made within the battery supply chain and pragmatic discussions held with key government executives. We look forward to advancing the Company's Becancour Lithium Refinery to contribute in making Quebec the lithium conversion centre within the Transatlantic region."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/82C8D877

Source:
Lithium Universe Ltd

News Provided by ABN Newswire via QuoteMedia

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Sample Interval (m)			Sample Method	Li	K	Mg	Density
From	To	Thickness	Sample Method	(mg/litre)			(g/ml)
RW-DDH-010
31.5	36.5	5.0	Single packer	102	1766	1601	1.066
39.5	42.5	3.0	Single packer	47	910	925	1.035
51.5	54.5	3.0	Single packer	58	1113	798	1.04
57.5	60.5	3.0	Single packer	131	2461	1469	1.087
63.5	66.5	3.0	Single packer	245	4262	2403	1.153
69.5	72.5	3.0	Single packer	294	5240	2907	1.176
75.5	78.5	3.0	Single packer	230	4087	2142	1.143
81.5	84.5	3.0	Single packer	275	4859	2565	1.165
87.5	90.5	3.0	Single packer	269	4824	2385	1.159
93.5	96.5	3.0	Single packer	343	6206	2925	1.201
141.5	144.5	3.0	Single packer	251	4530	2200	1.149
153.5	156.5	3.0	Single packer	351	6565	3015	1.204
159.5	162.5	3.0	Single packer	342	6389	2925	1.197
165.5	168.5	3.0	Single packer	366	6961	3075	1.212
171.5	174.5	3.0	Single packer	354	6709	2992	1.207
177.5	180.5	3.0	Single packer	365	6968	2999	1.21
183.5	186.5	3.0	Single packer	363	6923	3000	1.215
189.5	192.5	3.0	Single packer	353	6849	2929	1.215
192	196	4.0	Double packer	354	6824	3062	1.211
265.5	294.5	29.0	Single packer	325	6266	2766	1.194
310	314	4.0	Double packer	364	7122	3071	1.21
319	323	4.0	Double packer	360	6932	3072	1.211
333	337	4.0	Double packer	354	6767	3045	1.21
344	348	4.0	Double packer	350	6752	3019	1.209
355	359	4.0	Double packer	323	6185	2797	1.196

Gold price Base Case Variance	Base	+40%
US$/troy oz Gold	1,600.00	2,240.00
IRR (Pre-Tax)	39.3%	77.4%
NPV @ 5% (Pre-Tax) US$M	150.6	395.0

Table 3: Collar and maximum depth information for RW-DDH-010 and RW-DDH-011
Hole ID	East	North	Elevation	Azimuth	Dip	Depth
	UTM Zone 19S (WGS84)		(m)	(deg.)	(deg.)	(m)
RW-DDH-010	683150	7337904	3743	n/a	90	401.0
RW-DDH-011	685111	7336135	3720	n/a	90	356.0

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