Argentina Lithium Significantly Expands Lithium Portfolio; Options Additional Properties on Pocitos Salar in Salta Province

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") reports the completion of the ninth exploration hole at its Rincon West Project in Salta Province Argentina returning a 258 m interval ranging from 287 to 402 mgl lithium . Two portions of this interval were not sampled, one length of 42 m and a second length of 33 m .

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") reports continued positive lithium brine results at its Rincon West Project in Salta Province Argentina including a 178 m * section with results ranging from 241 to 340 mgl lithium (*no sample was collected from 30 m of this interval) from the seventh diamond drill hole of the current program.

"These new results demonstrate the continuity of concentrated lithium brines within our exploration area and expands the area known to host lithium brines to the northwest. We have been pleased by the extensive vertical column of concentrated brines intersected to date in the core of our basin. The drill program has confirmed the original geophysical interpretation for conductive brine aquifers very well, providing confidence in the potential for future drilling on the extensive untested portions of the geophysical anomaly to continue to potentially extend our zone of lithium-rich brines." stated Miles Rideout , V.P. of Exploration.

The results of the brine analyses for holes seven and eight are shown in Table 1, as well as the type of sample collected, and the respective intervals from which brine was recovered. The ninth and final hole of the program was recently completed and laboratory analytical results are pending.

The Rincon West Project, located west and north of Rio Tinto's adjacent Rincon Project, covers 3742.8 hectares of the salar basin. Figure 1 presents a map of the Rincon West property showing the positions of the nine permitted and completed exploration holes from this program (see  News Releases dated July 13, 2022 , October 3, 2022 , October 25, 2022 and January 26, 2023 ). The map in Figure 1 displays the drill locations overlaid on the conductive zones delineated with TEM geophysics (see May 2, 2022 News Release ; Note: the easternmost property extension was acquired after the completion of the TEM survey and therefore shows no geophysics results).

Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists. Drill holes RW-DDH-007 and RW-DDH-008 were executed with diamond drilling (HQ-diameter), permitting the extraction of core samples of the salar basin formations and recovery of brine samples where possible. Argentina Lithium'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. In certain instances, double packer sampling is conducted following the completion of drilling. In this case, inflatable seals are employed to close both the top and bottom of the sample interval. The maximum span of double packer sampling is limited to less than 4 m by the height of the drill mast and other equipment limitations.

Table 1:  Interval data and results of brines analyses for lithium, potassium, and magnesium for drill holes RW-DDH-007 and RW-DDH-008

RW-DDH-007 is an in-fill hole in the south-central portion of the basin. From near surface to 66 m depth, sandy units were crossed with gravel and clay beds. Sulphate minerals appear in the sedimentary sequence below 66 m , with particularly high concentration between 90 and 116 m depths. Fine-to-medium sandy units extended from 116 to 191 m , with layers of clay, sulphates and fine gravels observed infrequently. Basement clasts were also observed sporadically at some levels. From 191 to 215 m depth, a unit of coarse-to-medium sands was intersected.  Ignimbrites with little fracturing were intersected between 215 and 285 m depths. From 285 m to the bottom of the hole, what are interpreted as basement units with varying degrees of alteration and silicification were intersected. The hole was terminated at 347 m depth in argillic-altered granite.

RW-DDH-008 extends drilling to the northwest and infills an undrilled area between holes RW-DDH-005 and 006.  Gravels and sands were drilled in the top 26 m of this hole, underlain by 6 m of weakly-cemented volcanic tuff. Sandy units resumed at 32 m , initially with a large amount of organic material, and with sulphates beginning at 37 m depth. A silt layer with clay was crossed between 40 and 62 m . Fine sands with coarse gravel layers were intersected between 62 and 83 m , extending to 86 m with poorly consolidated sands. There follow 5 m of sands in a clay matrix, and from 91 to 122 m , coarse-to-medium sands containing basement clasts. From 122 to 182 m , another coarse-to-medium sandy unit was crossed exhibiting ignimbrite clasts and very infrequent clay layers. The hole crossed ignimbrite with little fracturing between 182 and 277 m depth. The underlying transition showed 1.5 m of breccia with angular basement clasts, followed by quartzite basement. The uppermost 30 m of basement displays fractures filled with pyrite, hematite and chlorite. The drill was stopped at 323 m in quartzite basement with little fracturing.

All core samples recovered by drilling were retained for geologic logging. An extensive selection of samples has been sent for brine recovery testing at an independent laboratory. This analysis remains pending.

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 9001:2008 certified laboratory, with ISO 17025:2005 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 sequence. For the holes RW-DDH-007 and 008 reported herein, the blank (2) and duplicate (2) samples reported within the acceptable range.   A single low-grade and either a medium-grade or high-grade reference standard sample was included within the submitted samples for each hole.  The low-grade reference standard analyses were above 3 standard deviations (SD) with between 2.0 and 8.6 relative percent difference (RPD) from the best value; the medium grade reference standard inserted into the hole RW-DDH-007 sample sequence was within 2 SD below the best value with 0.75 RPD; the high-grade reference standard inserted into the hole RW-DDH-008 sample sequence returned less than 3 SD below the best value with a 2.46 RPD.

David Terry , Ph.D., P.Geo. is the Company's Qualified Person as defined in National Instrument 43-101. Dr. Terry is responsible for oversight of the Company's early-stage exploration at the Rincon West property.  The disclosure in this news release has been reviewed and approved by Dr. Terry.

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward 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 "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.

This news release may contain forward-looking statements.  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 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. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; 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; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. 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.

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") wishes to announce that it has engaged Michael Baybak and Company, Inc. (the " Consultant ") to assist with marketing services.  The services consist primarily of writing services, but may include additional marketing services that constitute "investor relations activities".  Pursuant to the terms of the consulting agreement between the Company and the Consultant dated November 23, 2022, in exchange for the Consultant's services, the Company has agreed to pay the Consultant a monthly fee of US$7,000 effective from January 1, 2023 through to June 30 2023.  The term of the agreement is for a period of approximately seven months, with such term to be extended at the discretion of the Company.  The Company also granted 50,000 stock options to the Consultant's President to purchase 50,000 common shares of the Company (each a " Share ") at an exercise price of $0.35 per Share for a period of five years, expiring on December 8, 2027 in accordance with the terms of the Company's stock option plan and the policies of the TSX Venture Exchange.  The Consultant and related parties hold less than one percent (1%) of the issued and outstanding Shares of the Company.

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") is pleased to announce that it has been invited to present at the Emerging Growth Conference on February 8, 2023 .

The next Emerging Growth Conference is presenting on February 8, 2023 . This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company's VP Exploration, Miles Rideout , in real time.

Mr. Rideout will perform a presentation and may subsequently open the floor for questions. Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event and Mr. Rideout will do his best to get through as many of them as possible.

Argentina Lithium & Energy Corp. will be presenting at 3:10 PM Eastern time .

Please register here to ensure you are able to attend the conference and receive any updates that are released.

https://goto.webcasts.com/starthere.jsp?ei=1589451&tp_key=60f8292c14&sti=pnxlf

If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference . We will release a link to that after the event.

The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.

The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.

All sessions will be conducted through video webcasts and will take place in the Eastern time zone.

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward 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 "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.

This news release may contain forward-looking statements.  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 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. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; 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; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. 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 & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") reports positive lithium brine values at its Rincon West Project in Salta Province Argentina including a 153 m interval ranging from 329 to 393 mgl lithium from the sixth diamond drill hole. The seventh exploration hole is in final steps to completion, with two additional holes planned.

"The new drilling results extend the zone of concentrated lithium brines towards the west and southwest from earlier drill intersections. The remarkable interval from the sixth hole, RW-DDH-006, is our best interval to date, and it is a step-out of 960 m from the prior best intersection reported previously in the fourth hole. With RW-DDH-005, we drilled 1.7 km southwest of the sixth hole, looking for the western limit of the brine zone. These large step-outs demonstrate concentrated lithium brines extend broadly through the core of the property. The remaining three drill holes will be located to further delineate the brine aquifer." stated Miles Rideout , V.P. of Exploration.

The results of the brine analyses, type of sample collected, and the respective intervals from which brine was recovered are shown in Table 1. Drill collar information is presented in Table 2.

The Rincon West Project, located west and north of Rio Tinto's adjacent Rincon Project, covers 3742.8 hectares of the salar basin. Rincon West is currently permitted for up to 9 exploration drill holes. Figure 1 presents a map of the Rincon West property showing the positions of the seven initial exploration holes (see  News Releases dated July 13, 2022 , October 3, 2022 and October 25, 2022 ). The map in Figure 1 displays the drill locations overlaid on the conductive zones delineated with TEM geophysics (see May 2, 2022 News Release ; Note: the easternmost property extension was acquired after the completion of the TEM survey and therefore shows no geophysics results).

Table 1: Interval data and results of brines analyses for lithium, potassium, and magnesium for drill holes RW-DDH-005 and RW-DDH-006

Both holes were executed with diamond drilling (HQ-diameter), permitting the extraction of core samples of the salar basin formations, and recovery of brine samples where possible. RW-DDH-005 was drilled between September 26 and October 24, 2022 , stopping at 328.4 metres depth in volcanic units. Lining the hole with 2" diameter PVC filters and tubing was completed on October 26, 2022 .

RW-DDH-006 was drilled between October 27 and November 26, 2022 , stopping at 329.8 metres depth in a metamorphosed sedimentary unit. Final profiling and lining the hole with 2" diameter PVC filters and tubing were completed by December 3, 2022 .

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-005 and RW-DDH-006

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. In certain instances, double packer sampling is conducted following the completion of drilling. In this case, inflatable seals are employed to close both the top and bottom of the sample interval. The maximum span of double packer sampling is limited to less than 4 m by the height of the drill mast and other equipment limitations.

While drilling RW-DDH-005, every attempt at brine sampling with the single packer apparatus failed to recover significant quantities of brine. Sampling was thus accomplished at intervals during drilling by employing a bailer unit to recover brines from near the bottom of the drilled interval. A limitation of bailer sampling is that the interval is not sealed above, thus mixing with solutions from upper portions of the hole is probable. The site geologists believe the lack of brine recovery during packer sampling was likely related to the depth of the phreatic water table in the hole, identified approximately 72 m below the collar. Apparently the packer airlift system was unable to lift dense brines this height above the phreatic level.

In follow-up sampling, the drill crew was able to recover brines from selected intervals while employing a double packer system.

Sampling with the single packer system was completed without significant difficulty at RW-DDH-006. In this case, the well collar is situated at a lower elevation with a measured phreatic level of 37.6 m .

RW-DDH-005 is the westernmost hole completed to date, and the collar is located at the highest elevation yet tested on this project. The hole tested gravels and volcanic clasts in a sandy matrix to 29 m depth, where ignimbrite was encountered, continuing to 41 m depth. With a short transition, the drill entered medium-to-coarse gray sandstone from approximately 42 m , continuing to 54 m , followed by a 1 m layer of medium-to-fine black sandstone. Coarse gray sandstone was observed from 55 m to 62 m , followed by coarse brown sandy units with layers of sulphates, continuing to 77 m depth. A brecciated sandstone with sandy matrix then extends to 200 m depth. This unit was intensively fractured between 176 m and 197 m depths. Ignimbrite with varying degrees of fracturing was logged between 200 m and 296.5 m depths. The geologic log demonstrates a complex sequence transitioning from ignimbrite to aphanitic volcanics between 296.5 to 306 m depth. The hole was terminated in volcanics at 328.4 m depth.

Breccias and conglomerates with sandy matrices were observed from near-surface to 32 m depth. A sequence of sandy and silty sedimentary units with sulphates followed, ending in a sequence of sandy clays, logged between 47 and 53 m depth. Brown coloured sandstones were observed from 53 m , extending to 86 m depth. From 86 m to 95 m , breccias with quartzite fragments in a sandy matrix were logged. Ortho-quartzite then follows, continuing to 284 m depth, with multiple zones of relative competency interspaced by zones of intensive fracturing. A lithologic change was observed at 284 m , with a silicified sedimentary unit below. As the degree of fracturing reduced with depth, this unit was interpreted as a metamorphosed sedimentary rock. The drill was stopped in this metamorphosed sedimentary unit at 329.8 m depth.

All core samples recovered in drilling were retained for geologic logging. An extensive selection of samples has been sent for brine recovery testing at an independent laboratory. This analysis remains pending.

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 9001:2008 certified laboratory, with ISO 17025:2005 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 sequence. For the holes RW-DDH-005 and 006 reported herein, the blank (2) and duplicate (3) samples reported within the acceptable range.   A single low-grade, medium-grade, and high-grade reference standard sample was included within the submitted samples for each hole.  The low-grade reference standard analyses were above 3 standard deviations (SD) with less than 5% relative percent difference (RPD); the medium grade reference standard returned one result above 3 SD and one at 2 SD above the best value with 1.47 and 1.00 RPD, respectively; the high-grade reference standard returned one result less than 3 SD and one within 2 SD of the best value; with low RPD (1.73 and 0.72, respectively).

The following summarizes the properties held within the Rincon West Project. Villanoveño II and Demasia Villanoveño II, totaling 2491 hectares, are held under an option whereby the Company can earn a 100% interest, as described in the Company's September 28, 2021 News Release . Argentina Lithium has also purchased the 460.5 hectare Rinconcita II property, adjacent to Villanoveño II (see August 25, 2022 News Release ). The Company entered into an option agreement to earn a 100% interest in four contiguous mine concessions, the "Paso de Sico" option, totalling 791.3 hectares in the northern part of the Salar de Rincon (see October 6 News Release ).

David Terry , Ph.D., P.Geo. is the Company's Qualified Person as defined in National Instrument 43-101. Dr. Terry is responsible for oversight of the Company's early-stage exploration at the Rincon West property.  The disclosure in this news release has been reviewed and approved by Dr. Terry.

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward 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 "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.

This news release may contain forward-looking statements.  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 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. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; 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; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. 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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