Canada Silver Cobalt Provides Update on Spin-Out of Graal Nickel Property into Coniagas Battery Metals and Appoints Coniagas Directors and Officers

Canada Silver Cobalt Provides Update on Spin-Out of Graal Nickel Property into Coniagas Battery Metals and Appoints Coniagas Directors and Officers

(TheNewswire)

Canada Silver Cobalt Works Inc.

Coquitlam, BC TheNewswire - February 15, 2023 Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company", "Canada Silver Cobalt" or "CCW") is pleased to provide an update on the previously-announced spin-out of the Graal property in Quebec into a separate public company called Coniagas Battery Metals Inc. ("Coniagas"), currently a wholly-owned subsidiary of CCW (see CCW press release October 4, 2022). The Board of Directors of CCW has approved proceeding with the spin-out by way of plan of arrangement under the Canada Business Corporations Act. In connection with the plan of arrangement, approximately 37% of the shares of Coniagas will be distributed to the shareholders of CCW by way of special dividend, consisting of approximately 11.7 million shares, each accompanied by one-half of a common share purchase warrant.

The closing of this transaction is subject to a number of conditions, including court, shareholder and regulatory approval, including that of the TSX Venture Exchange, and the listing of Coniagas on a Canadian stock exchange. CCW intends to call a special meeting of shareholders to approve the plan of arrangement and will file and distribute a management information circular with full details of the proposed transaction.

Frank J. Basa, B.Eng., P.Eng., CEO of CCW, who will become President and CEO of Coniagas stated: "It is the Company's intention to develop Coniagas into a premier supplier to the EV market. Coniagas' significant land package in northern Quebec, positive drill results, and the province's supportive approach to resource development provides confidence that our shareholders are well positioned in CCW and Coniagas."

"With respect to CCW, it is on its way to becoming a pure precious-metal play," Frank J. Basa further commented. "The two main silver and gold properties held by CCW are in mining friendly historical jurisdictions. Castle East has had eight high-grade silver vein structures identified and, with ongoing work, has the potential to identify additional mineralized structures. Silver grades of 89,000 gpt silver have been drilled at Castle East. Eby-Otto, the Company's gold prospect, is on the Larder Lake-Cadillac Break and is next to the high grade Maccassa mine in Kirkland Lake, Ontario where the Company has recently completed a preliminary drill program where assays are still pending. CCW has also been accumulating shares in a company with an advanced gold deposit that is permitted for production with a positive PFS as a potential acquisition."

The Graal Property

The Graal Property is a grassroots Nickel-Copper-Cobalt (Ni-Cu-Co) exploration property located in northern Quebec, approximately 160 km north-west of the town of Saguenay. The overall size of the property is 6,113 hectares and results from claim staking, a property acquisition from a SOQUEM/Mines Coulon joint-venture, and an option agreement with Globex Mining Enterprises Inc.

The Graal Property lies within the Grenville geologic province and contains ultramafic to mafic magmatic type rocks belonging to the Lac-Saint-Jean suite – one of the largest anorthositic complexes in the world. The types of deposits expected in this geological setting are Fe-Ti-P and/or Ni-Cu-PGE and are caused by the immiscibility of specific elements/components within the cooling of magma during geological deposition. The mineralization typically consists of sulphides such as pyrrhotite, chalcopyrite, pentlandite, and various amounts of pyrite.

Over the last two years, the Company has completed various types of exploration work on the Graal Property including airborne magnetic/gravity geophysics, ground SQUID geophysics, borehole EM geophysics, and 16,794.60m of diamond drilling since its acquisition in late 2020. The exploration program, and the airborne geophysics in particular, had identified a large gravity anomaly in the heart of the property. Further geophysics including SQUID and borehole EM surveys were completed to further understand the nature of the anomaly and identified a large EM conductor that is approximately 6km in length. Diamond drilling was completed to test specific locations within the multiple geophysical anomalies within the property. The drilling returned various amounts of Nickel-Copper-Cobalt, with minor amounts of Platinum-Palladium.

Historical drilling prior to the acquisition had previously indicated a potential target of near-surface tonnage of 30 to 60 million tonnes with a grade range of 0.60-0.80% nickel, 0.30-0.50% copper and 0.10-0.15% cobalt in the MHY section along the 6 km EM corridor. This calculation is conceptual in nature and there has been insufficient exploration to define the resource, but it highlights the overall potential of the deposit given the historic grades (excluding the 2021-2022 drilling) and size of the property. The drill results of Phase 1 of the diamond drilling have been publicly released, some of the highlights are listed in Table 1 below.

Table 1: Result Highlights from the Phase 1 2021-2022 Drilling:

DDH

From (m)

To (m)

Length (m)

Ni %

Cu %

Co%

Pt g/t

Pd g/t

NRC-21-03

138.30

144.00

5.70

0.84

0.59

0.09

0.03

0.03

Including

138.30

142.40

4.10

1.15

0.27

0.12

0.04

0.04

NRC-21-15

56.30

62.10

5.80

0.43

0.43

0.05

-

0.00

Including

57.30

57.90

0.60

1.22

0.43

0.08

-

0.08

Including

57.90

58.50

0.60

0.36

1.62

0.00

-

0.03

Including

61.60

62.10

0.50

0.28

0.12

0.07

0.20

0.00

NRC-21-18

83.00

88.20

5.20

0.48

0.38

0.06

-

0.04

NRC-22-24

121.50

152.10

30.60

0.39

0.40

0.05

-

-

NRC-22-24

121.50

129.20

7.70

0.61

0.34

0.07

-

-

Including

122.50

123.50

1.00

1.35

1.16

0.14

-

-

NRC-22-24

142.80

152.10

9.30

0.72

0.86

0.09

-

-

NRC-22-26

135.00

140.80

5.80

0.57

0.41

0.08

-

-

Including

137.00

137.70

0.70

1.02

0.66

0.13

-

-

Some Historic Drill Results:

  • Intercepted 0.84% Ni, 0.50% Cu and 0.10% Co over 10.20m including 1.03% Ni, 0.49% Cu and 0.13% Co over 3.00m in hole 1279-00-08 (GM 58807, Roy 2001)

  • Intercepted 1.03% Ni and 0.80% Cu over 10.25m including 1.06% Ni and 2.75% Cu over 1.50m in hole 1279-03-40 (GM 60730, Roy 2003)

  • Intercepted 1.15% Ni, 0.56% Cu and 0.15% Co over 4.50m in hole 1279-00-10 (GM 58807 Roy 2001, Francoeur 1998).


Click Image To View Full Size

Figure 1: Map of location, claims, and several drill intercepts from historic and 2021-2022 drilling

Coniagas Battery Metals Directors & Executive Officers

CCW also announces that the following people have been appointed as directors and executive officers of Coniagas.

Ron Goguen - Independent Director

Ron Goguen became Chairman & CEO of Colibri Resource Corporation in July 2017. Colibri Resource Corporation has been a public company since 2004 and is a junior gold mining company. Mr. Goguen purchased his first exploration drilling company, Ideal Drilling, in 1980. In 1981, he added a second exploration drilling company and increased sales and net income significantly. Those companies were combined to become Major Drilling Group International Inc., a publicly traded company that has traded on the TSX since 2015 (TSX.MDI). Mr. Goguen served as President and Chief Executive Officer until 2000 and during this time was a key driving force in building Major Drilling into one of the largest mineral drilling service companies in the world (33 operations in 15 countries)

Since leaving Major Drilling in 2000, Mr. Goguen has served as the President of Royal Oaks Real Estates Inc. and Royal Oaks Golf & Country Club. He has been a member of the Board of Directors of Northeast Bank since 1990. During 2006, Mr. Goguen was appointed Chairman of the Board for Beaver Brook Antimony Mine Inc., and he remained so until bringing the operation into production in 2008. Beaver Brook is the largest antimony mine outside of China. In 1995, Mr. Goguen was named Atlantic Canada's Entrepreneur of the Year as presented by Governor General of Canada.

William D. Macdonald – Independent Director

William D. Macdonald is a former Director and Logistics Mexican Manager of Landdrill International Inc., a Mexican-based company engaged in providing drilling services throughout Mexico and Nicaragua. The company offers various drilling services including diamond, reverse circulation, residential well, geotechnical, and environmental drilling. Mr. Macdonald is presently a director of Colibri Resource Corporation, a junior mining company. He is also a director of Canadian Gold Resources Ltd. Mr. Macdonald was also Chief Executive Officer of LEM Manufacturing, a manufacturer of drilling equipment.

Dianne Tookenay – Independent Director

Dianne Tookenay is a band member of Brunswick House First Nation in Ontario. She has been involved with the topic of Aboriginal Consultation and Accommodation since 2007 and has served as a director of pubic companies in mining exploration in the past as well. She holds a Certificate in Mining Law from the Osgoode Hall Law School - York University, a Masters of Public Administration from the University of Manitoba, a Bachelor of Administration from Lakehead University, Native Band Management Diploma and Indian Economic Development Diploma from Confederation College Applied Arts and Technology. Ms. Tookenay has accumulated a wide breadth of business development and advocacy roots within the First Nation communities which will be of significant value to Coniagas' development now and in the coming years.

Aurelian Basa – Director

Aurelian Basa has spent nearly a decade engaged in the natural resources industry and has travelled extensively throughout Asia, Africa, and Europe in this capacity. Most recently, he has secured feed sources for the Re-2Ox Process including high-grade tailings projects, recycled batteries, and battery metal deposits abroad.

In his current role, Aurelian advances ‘Metals-as-a-Service (MaaS)', a platform connecting commodity traders to responsible sources of critical metals supported through ongoing relationships with European metal traders and Asian battery manufacturers.

Aurelian holds a Bachelor's degree in Geography with a specialization in Planning and the Environment from Concordia University in Montreal, Quebec. He also manages Resource Active Media, a digital content agency tailored to publicly traded mining companies.

Isabelle Gauthier – Chief Financial Officer

Isabelle Gauthier has over 20 years of accounting, transactional and reporting experience. She holds a B.A. in Administration from Université du Québec à Montréal (UQAM) and she has been a member of the Ordre des Comptables professionnels agréés du Québec since 1998. She held the position of Senior Manager within the firm Raymond Chabot Grant Thornton for which she worked as an Auditor from 1996 to 2006. She has developed an expertise in public companies, primarily in the mining sector. Through her involvement in various assignments, she acquired solid experience in consolidation of foreign entities, reverse take-over and spinout and financial reporting.

Gerhard Kiessling, P.Geo. – Vice President Exploration

Gerhard Kiessling joined the Company in 2020 and has served as both an exploration geologist and exploration manager before being promoted to Vice President Exploration. Mr. Kiessling has built an excellent team within Canada Silver Cobalt, and his high standard of work, organization, and managing skills have greatly improved the Company's internal organization. The Company believes he will continue to bring his work ethic to and will be an asset to Coniagas Battery Metals. He graduated from the University of Waterloo in 2016 where he majored in Earth Science and has spent over six years working in the mining industry for companies such as Agnico Eagle, Kirkland Lake Gold, First Cobalt and McEwen Mining before joining Canada Silver Cobalt.

Qualified Person

The technical information in this news release was approved and prepared under the supervision of Mr. Frank J. Basa, B.Eng., P.Eng., CEO of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.

In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.

The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 15,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring.

Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com

"Frank J. Basa"

Frank J. Basa, P. Eng.

Chief Executive Officer

For further information, contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

416-625-2342

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

Caution Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com .

Copyright (c) 2023 TheNewswire - All rights reserved.

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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.

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

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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

(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

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 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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CENTURY LITHIUM PROVIDES UPDATE ON THE FEASIBILITY STUDY

CENTURY LITHIUM PROVIDES UPDATE ON THE FEASIBILITY STUDY

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or Company) reports that the Feasibility Study on the Company's Clayton Valley Lithium Project (Project), in Nevada, USA under the direction of Wood PLC and Global Resource Engineering Ltd., is currently under review by the Qualified Persons, and the Company anticipates its announcement imminently.

Century Lithium Provides Update on the Feasibility Study (CNW Group/Century Lithium Corp.)

To date, the Company's Feasibility Study team has revised and updated estimates for a phased production approach at the Project. These revisions also included assessment and evaluation of the economic benefit of sales of the surplus sodium hydroxide produced by the chlor-alkali plant.

The Company's Lithium Extraction Facility (Pilot Plant) in Amargosa Valley, Nevada is now in its third year of testing the processing of lithium-bearing claystone from the Project. All data collected has been essential to the Feasibility Study. Century Lithium continues to work toward permitting the Project including the collection of baseline data collection for biology, surface and groundwater hydrology, and social impacts. Earlier this year, baseline reports were submitted by the Company's consultants and were accepted by the appropriate government agencies. Multiple reports have been completed which will aide in the preparation of a Plan of Operations to initiate the National Environmental Policy Act (NEPA) process.

About Century Lithium Corp.

Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA . Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF Century Lithium CORP.
WILLIAM WILLOUGHBY , PhD., PE
President & Chief Executive Officer

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as " expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/century-lithium-provides-update-on-the-feasibility-study-302121633.html

SOURCE Century Lithium Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/19/c7578.html

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