Mr. Ali Rahman reports

LEXI PROVIDES UPDATE ON ARENA ENFORCEMENT ACTION

Lithium Energi Exploration Inc. is providing an update on Arena Investors LP's enforcement action.

As noted in the company's news release dated May 8, 2025, Arena Investors LP has provided the company with a notice pursuant to Section 61 of the Personal Property Securities Act (British Columbia) that Arena seeks to seize all of the company's property secured under the applicable security documents in full and final satisfaction for payment of the $7-million in principal, and all associated interest, outstanding pursuant to the secured credit agreement entered into between the company and Arena dated Feb. 1, 2023, as amended.

So as to facilitate an orderly conclusion of the enforcement action, the company has agreed to not object to the enforcement action with respect to the foreclosure on the issued and outstanding shares in Lithium Energi Argentina S.A. in full satisfaction of all amounts owing under the credit agreement. After the completion of the foreclosure, the company will retain a limited cash balance, and be fully and finally released from all claims which Arena, or its assigns, have in connection with the credit agreement.

In addition, Lithium Energi wishes to advise that Rebecca Paisley has resigned as a director of the company.

About Lithium Energi Exploration Inc.

Lithium Energi Exploration was historically an exploration company focused on the acquisition, exploration and development of lithium brine assets in Argentina.

We seek Safe Harbor.