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Argentina Lithium & Energy

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

Argentina Lithium & Energy Corp. (TSX-V: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") is pleased to announce that it is expanding its lithium exploration project holdings at the Pocitos Salar in Salta Province at the heart of Argentina's world-renowned Lithium Triangle. The Company's holdings in this salar now total over 26,000 hectares (see Figure 1: https:bit.ly3HNEurI ). The Company and its Argentinian subsidiary, Argentina Litio y Energía S.A. have entered into three new option agreements with local vendors to acquire a 100% interest in 10,364 hectares of new properties. The Company already holds an option for 15,857 hectares of properties located on the west side of the Pocitos Salar (see October 14, 2021 News Release ).

Argentina Lithium & Energy Corp. Logo (CNW Group/Argentina Lithium & Energy Corp.)

¨Pocitos, one of the largest salars within Argentina's Lithium Triangle, remains a key under-explored salar in Salta. With these new acquisitions, we are now the largest holder of claims in this very prospective basin," stated Nikolaos Cacos , President and C.E.O.

The Pocitos Salar is located approximately 100 kilometres west of the town of San Antonio de los Cobres, the largest town in Argentina's high plain, and approximately 250 kilometres west of the provincial capital city of Salta.  The Provincial Route 17 and the natural gas pipeline-fed industrial park at the settlement of Pocitos are located 17 km to the east. The rail line that crosses the middle of the Pocitos West property joins Salta with the port of Antofagasta on the Chilean Pacific coast.  The present surface expression of the Pocitos Salar is approximately 57 kilometres north-south, and approximately 10 kilometres east-west. The salt pan is almost completely flat with portions of the older salar surface covered by talus and alluvial fan. The new properties are believed to have had little prior exploration and no drilling; they are located along the eastern flank and southern portion of the Pocitos basin. The Company will be planning its exploration approach to the Pocitos properties over the coming weeks.

Option Agreement Details

Argentina Lithium can acquire a 100% interest in the 1,602 hectare "El Pidio GIII" property in the southeast of the Pocitos Basin pursuant to an option agreement dated January 3, 2022 . The option terms include US$165,000 in cash payments over three years, including a mandatory total of US$30,000 over the first 18 months. In addition, 25,000 shares of the Company are to be issued to the vendor on signing, with additional share issuances valued at CAD$70,000 over the subsequent three years, including mandatory issuances valued at CAD$25,000 over the first 18 months.

Argentina Lithium can acquire a 100% interest in the Aguamarga 11 and Aguamarga 16 properties, totalling 7000 hectares in the east flank of the Pocitos Basin pursuant to an option agreement dated January 3, 2022 . The option terms include US$1,890,000 in cash payments over three years, including a mandatory total of US$105,000 over the first 12 months. In addition, 168,000 shares of the Company are to be issued to the vendor on signing, with additional share issuances valued at CAD$651,000 over the subsequent three years, including a mandatory issuance valued at CAD$126,000 after twelve months.

The obligations of the Company under the two above-mentioned option agreements are subject to the approval of the TSX Venture Exchange (the " Exchange ").

The number of common shares of the Company issuable under the option agreements are calculated based on the discounted market price of the Common Shares on the Exchange on the business day immediately prior to the date of this news release. All shares issued pursuant to the terms of the option agreements are subject to a hold period under applicable securities laws for a period of four months from the date of issuance.

The third agreement dated January 6, 2022 , gives Argentina Lithium the option to earn a 100% interest in five properties totalling approximately 1,762 hectares at the Pocitos Salar ("the Ramos Properties" see Figure 1). The option terms include mandatory payments totalling US$150,000 in the first year, followed by US$550,000 2 years after signing.

Qualified Person
The contents of this news release have been reviewed and approved by David Terry , Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.

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

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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 closing of the transactions contemplated in the option agreements and Exchange approval of the option agreements; 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 inability to obtain Exchange approval to the option agreements; he 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 Completes Initial Drill Campaign at Rincon West, Announces Positive Results from Ninth Exploration Well

Argentina Lithium Completes Initial Drill Campaign at Rincon West, Announces Positive Results from Ninth Exploration Well

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 .

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Argentina Lithium Further Delineates Concentrated Lithium Brine Zone at Rincon West Project

Argentina Lithium Further Delineates Concentrated Lithium Brine Zone at Rincon West Project

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.

Argentina Lithium & Energy Logo (CNW Group/Argentina Lithium & Energy Corp.)

"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.

Rincon West Project and Program Details

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

Sample interval (m)

Sample Method

Li

K

Mg

Density

From

To

Thickness


(mg/litre)

(g/ml)

RW-DDH-007




113

143

30

Single packer

197

3591

1910

1.121

143

167

24

Single packer

278

5475

2378

1.171

167

191

24

Single packer

286

5691

2415

1.171

191

212

21

Single packer

297

5793

2529

1.176

212

230

18

Single packer

285

5486

2470

1.170

230

248

18

Single packer

271

5174

2351

1.160

266

284

18

Single packer

241

4446

2147

1.139

296

321

25

Single packer

340

6460

2863

1.192

141

144

3

Double packer

291

5438

2551

1.166

156

159

3

Double packer

264

4950

2297

1.153

168

171

3

Double packer

285

5314

2511

1.164

180

183

3

Double packer

280

5217

2419

1.158

RW-DDH-008




80

98

18

Single packer

1.001

98

113

15

Single packer

42

67

1.002

110

125

15

Single packer

57

943

1046

1.040

140

155

15

Single packer

312

5629

2861

1.180

182

197

15

Single packer

228

4044

2042

1.136

197

212

15

Single packer

355

6148

3088

1.195

*Both drill holes were inclined vertically; the salar strata are believed to be flat lying resulting in reported intervals approximating true thickness.

Table 2:  Collar and maximum depth information for RW-DDH-007 and RW-DDH-008

Hole ID

East

North

Elevation

Azimuth

Dip

Depth


UTM Zone 19S (WGS84)

(m)

(deg.)

(deg.)

(m)

RW-DDH-007

681453

7337379

3775

n/a

90

347.0

RW-DDH-008

680688

7337736

3781

n/a

90

323.0

Observations regarding RW-DDH-007

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.

Observations regarding RW-DDH-008

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.

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 9001:2008 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.

Qualified Person

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.

About Argentina Lithium

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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-further-delineates-concentrated-lithium-brine-zone-at-rincon-west-project-301804699.html

SOURCE Argentina Lithium & Energy Corp.

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Argentina Lithium Engages Investor Relations Consultant

Argentina Lithium Engages Investor Relations Consultant

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.

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Argentina Lithium to Present at the Emerging Growth Conference and Invites Individual and Institutional Investors as well as Advisors and Analysts, to Attend Its Real-Time, Interactive Presentation

Argentina Lithium to Present at the Emerging Growth Conference and Invites Individual and Institutional Investors as well as Advisors and Analysts, to Attend Its Real-Time, Interactive Presentation

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 .

Argentina Lithium & Energy Logo (CNW Group/Argentina Lithium & Energy Corp.)

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.

About the Emerging Growth Conference

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.

About Argentina Lithium

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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-to-present-at-the-emerging-growth-conference-and-invites-individual-and-institutional-investors-as-well-as-advisors-and-analysts-to-attend-its-real-time-interactive-presentation-301741225.html

SOURCE Argentina Lithium & Energy Corp.

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Argentina Lithium Drilling Extends Lithium Brine Zone at Rincon West

Argentina Lithium Drilling Extends Lithium Brine Zone at Rincon West

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.

Argentina Lithium & Energy Logo (CNW Group/Argentina Lithium & Energy Corp.)

"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

Sample Interval (m)

Sample

Method

Li

K

Mg

Density

From

To

Thickness



(mg/litre)


(g/ml)

RW-DDH-005






143



Bailer

12

197

99

1.006

185



Bailer

155

2432

1986

1.104

194



Bailer

173

2686

2068

1.108

224



Bailer

199

3243

2058

1.12

239



Bailer

209

3423

2201

1.124

260



Bailer

168

2623

1868

1.1

290



Bailer

88

1323

943

1.052

328



Bailer

104

1552

1172

1.064

96

99.7

3.7

Double packer

41

54

1.000

120

123.7

3.7

Double packer

207

161

1.006

162

165.7

3.7

Double packer

67

1137

748

1.042

192

195.7

3.7

Double packer

44

847

512

1.032

RW-DDH-006






59

71

12

Single Packer

20

317

278

1.01

71

83

12

Single Packer

38

598

563

1.024

83

95

12

Single Packer

126

1985

1370

1.078

119

143

24

Single Packer

233

4461

2055

1.134

143

155

12

Single Packer

292

5484

2650

1.162

167

179

12

Single Packer

329

6022

2892

1.178

179

191

12

Single Packer

348

6509

3128

1.184

191

206

15

Single Packer

339

6473

3052

1.18

206

218

12

Single Packer

378

7224

3411

1.194

218

230

12

Single Packer

379

7224

3468

1.206

230

245

15

Single Packer

378

6895

3366

1.194

245

257

12

Single Packer

385

7157

3451

1.21

257

269

12

Single Packer

393

7420

3436

1.215

269

293

24

Single Packer

385

7500

3205

1.21

293

308

15

Single Packer

334

6360

2743

1.18

303

320

17

Single Packer

336

6355

2736

1.178

*Both drill holes were inclined vertically; the salar strata are believed to be flat lying resulting in reported intervals approximating true thickness.


Technical Details

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

Hole ID

East

North

Elevation

Azimuth

Dip

Depth


UTM Zone 19S (WGS84)

(m)

(deg.)

(deg.)

(m)

RW-DDH-005

680426

7336767

3808

n/a

90

328.4

RW-DDH-006

681291

7338205

3764

n/a

90

329.8

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 .

Observations regarding RW-DDH-005

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.

Observations regarding RW-DDH-006

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.

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 9001:2008 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).

Rincon West Project

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 ).

Qualified Person

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.

About Argentina Lithium

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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-drilling-extends-lithium-brine-zone-at-rincon-west-301731403.html

SOURCE Argentina Lithium & Energy Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2023/26/c6445.html

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