Mr. Ali Rahman reports

LITHIUM ENERGI EXPLORATION COMMENCES STRATEGIC REVIEW

Lithium Energi Exploration Inc. will form a special committee of independent directors to initiate with the chief executive officer a review process to explore, review and evaluate a broad range of strategic alternatives that may be available to the company to unlock shareholder value.

The special committee's strategic review process will encompass an evaluation of a full range of alternatives, including equity market transactions, disposition of certain assets, or a potential sale or merger, including an assessment of preliminary non-binding discussions with certain parties regarding an acquisition of all, or substantially all, of the company's assets or equity.

From 2018 through May, 2023, approximately $10.9-billion was invested in lithium assets in Argentina, making it one of the fastest-growing markets in the Lithium Triangle, a region that contains approximately 56 per cent of global lithium resources. As international interest in the acquisition, exploration and development of lithium brine increases, the company believes this is the ideal time to evaluate and consider the full range of alternatives available to the company to deliver value for its shareholders, while strengthening scale to ensure its promising assets in Argentina can be quickly, fully and optimally developed and utilized to the benefit of all stakeholders.

"LEXI has consolidated a world-class property portfolio consisting of approximately 72,000 hectares in the Lithium Triangle, one of the largest producing markets in the world. Our success implementing the new management team's strategy, particularly the operational aptitude demonstrated by the quick roll out of our drilling program, has successfully garnered the attention and interest of several parties on a potential sale," said Ali Rahman, chief executive officer and director of Lithium Energi. "We recognize that the interest in our success and well-located assets warrants a comprehensive strategic review to examine the full range of available alternatives. As we consider the future of the company, we are committed to expanding the potential outcome of LEXI's assets and realizing value for all our stakeholders."

While the strategic review process is continuing, the company intends to continue to pursue its core strategic objectives so as to maintain and enhance the value of its current exploration assets in Argentina. "Arena is supportive of LEXI's contemplation of different strategic alternatives, as well as its continued ongoing efforts in drilling and exploring its vast property portfolio. We have repeatedly invested in LEXI, and believe the time is right to unlock value in the Lithium Triangle and from LEXI's assets," stated Vincent DeVito, managing director of Arena Investors LP, Lithium Energi's largest shareholder.

To maximize the value of the company's portfolio of lithium brine assets, the special committee will retain a qualified investment bank as a financial adviser to assist in conducting the strategic review. There can be no assurance that the strategic review and the preliminary non-binding discussions will result in any binding offer or any other transaction, or of the pricing of any such possible transaction. The company will release further information at an appropriate time.

About Lithium Energi Exploration Inc.

Lithium Energi Exploration is an exploration company focused on the acquisition, exploration and development of lithium brine assets in Argentina. Headquartered in Toronto, Ont., with offices in Catamarca, Argentina, the company's shares are listed on the TSX Venture Exchange, the Frankfurt Stock Exchange and the U.S. over-the-counter market. Lithium Energi's portfolio of prospective lithium brine concessions in the Argentina province of Catamarca (heart of the lithium triangle) includes approximately 57,000 hectares and a 20-per-cent interest in Triangle Lithium Argentina SA, which owns an additional 15,000 hectares -- all located in and around the Antofalla salar, one of the largest basins in the region, which is over 130 kilometres long and up to 20 km across. Lithium Energi is committed to innovation, sustainability and quality, striving to differentiate itself from other players in the industry to maximize its potential for success.

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