Mr. Ali Rahman reports

LEXI RECEIVES DEMAND NOTICE AND PROVIDES UPDATE

Eamonn McInerney, the former nominee to Lithium Energi Exploration Inc.'s board from Arena Investors LP, has resigned.

The company is also announcing that it received a demand notice from its senior secured creditor Arena for payment of $7,172,527.29 outstanding pursuant to the secured credit agreement entered into between the company and Arena on Feb. 1, 2023, as amended, and a notice of intention to enforce security pursuant to Section 244(1) of the Bankruptcy and Insolvency Act (Canada). The company is engaged in discussions with Arena to evaluate potential solutions to enable the company to carry on in some form in the future; however, there can be no assurances it will be able to do so successfully.

As at Nov. 30, 2024, the date of the company's last unaudited financials, the company had cash and cash equivalents balance of $3,267,062 and a working capital deficit of $4,112,218. Such amounts include the $7-million in principal and related interest amounts under the credit agreement that have a maturity date of March 21, 2025. As at Feb. 28, 2024, the company had a cash balance of under $600,000 as it continues to spend on its drilling program and general and administrative expenses.

The company has been unable to complete the final hole in its intended drilling program, owing to a shortfall in funds. Though the company is continuing to engage in discussions with Arena, there can be no assurances the company will be able to proceed with the completion of its drilling program. The company expects to release results to date as soon as possible.

About Lithium Energi Exploration Inc.

Lithium Energi 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 exchange and the U.S. OTC markets. Lithium Energi's portfolio of prospective lithium brine concessions in the Argentine 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 kilometres across, and the Hombre Muerto salar, Argentina's long-producing lithium basin. 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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