Mr. Nikolaos Cacos reports

ARGENTINA LITHIUM FURTHER EXPANDS RINCON WEST AND ANTOFALLA NORTH PROJECTS

Argentina Lithium & Energy Corp. has entered into option agreements with local vendors to earn a 100-per-cent interest in two new mining concessions on salars in northwestern Argentina. The Don Fermin property option adds 1,456 hectares to the company's holdings at Salar de Rincon, bringing the total Rincon West project area to 5,198.8 hectares. The Lexi-30 property option adds 789 hectares to the company's Antofalla North project, increasing the holdings controlled by the company to 16,619.5 hectares.

Nikolaos Cacos, chief executive officer of Argentina Lithium, stated: "We continue to emphasize accretion of prospective resource properties to our first-tier projects at Rincon and Antofalla North. These new areas will be incorporated into our exploration programs, and we are planning to deploy advanced geophysics to confirm the presence of brine aquifers followed by drilling and pump tests to evaluate their potential for hosting lithium in brines. Our financing agreement with Stellantis, announced on Sept. 27, places us in a strong position to acquire and fully explore highly prospective salar properties as they come available."

Don Fermin is a mining concession granted by the mining authority of Salta province, located on the eastern flank of the Salar de Rincon, approximately 19 kilometres east of the company's main Rincon West property block. The property has not received significant exploration work previously. It is located adjacent to Rio Tinto's Rincon project and 1.1 km distance northeast of Argosy Minerals' Rincon project.

Lexi-30 is a mining concession granted by the mining authority of Catamarca province, located on the west side of the Salar de Antofalla, adjacent to the company's existing Antofalla North property block. The property has been the subject of TEM (transient electromagnetic) surveys in the past but has not previously been drilled. It is located approximately 1.1 km northwest of Albemarle Corp.'s Antofalla project.

Argentina Lithium cautions that proximity to a discovery, mineral resource or mining operation does not indicate that mineralization will occur on the company's property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.

Don Fermin agreement details

Terms of the option include cash payments totalling $2.75-million (U.S.) over 18 months, including an initial non-reimbursable payment of $250,000 (U.S.). The company can advance the dates of the subsequent four payments at its discretion. The vendor retains a 1.5-per-cent net smelter royalty (NSR) which can be repurchased for $4-million (U.S.).

Lexi agreement details

Terms of the option specify two cash payments totalling $425,000 (U.S.), including a non-reimbursable initial payment of $50,000 (U.S.), and an optional final payment of $375,000 (U.S.), payable at up to 12 months. The vendor retains a 2-per-cent net smelter royalty (NSR). In the instance that the vendor wishes to transfer or sell the NSR, the company has the right to match the terms of NSR transference or sale.

Qualified person

Frits Reidel, CPG, is a qualified person as defined in National Instrument 43-101, the principal of Atacama Water and is independent of Argentina Lithium. The disclosure in this news release has been reviewed and approved by Mr. Reidel.

About Argentina Lithium & Energy Corp.

Argentina Lithium & Energy 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 company's recent strategic investment by Peugeot Citroen Argentina SA, a subsidiary of Stellantis, one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects. 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.

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