Mr. Nikolaos Cacos reports

ARGENTINA LITHIUM ANNOUNCES POSITIVE LITHIUM VALUES IN THE 12TH EXPLORATION WELL AT THE RINCON WEST PROJECT

Argentina Lithium & Energy Corp. has released positive results from the 12th 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 milligrams per litre to 371 mg/L lithium.

"Our ongoing drilling continues to evaluate the Rinconcita II concession that extends from our original claims eastwards over the salt flat towards the neighbouring Rio Tinto concessions. Our 12th hole demonstrates a long interval of impressive lithium values in porous host lithologies. Thus far, our drilling at Rincon West demonstrates a continuous aquifer of concentrated lithium brines over an extensive basin," stated Miles Rideout, vice-president of exploration.

The results, including sampling method, the sample interval data and the brine analyses, for RW-DDH-012 are shown in the table entitled "Interval data and results of brine analyses for lithium, potassium and magnesium for drill hole RW-DDH-012." 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 5,198.8 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 six-hole program planned for the Rinconcita II property, announced in the company's Oct. 19, 2023, news release. The company is currently completing the access to the next drill platform (RW-DDH-013), representing a farther 1,000-metre step toward the northeast corner of the property block.

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.

The company'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 two-inch diameter PVC (polyvinyl chloride) 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 eastward from previous holes over the Rincon salt flat. The hole was completed to 339.5 m depth and a total 23 brine samples were extracted using the single-packer method and submitted for analysis.

Samples collected between 48.5 m depth and 213.5 m depth (the deepest sample) ranged from 322 mg/L to 371 mg/L lithium. Over this 165 m interval, 23 single-packer brine samples were collected from discrete three m intervals, totalling 69 m of sampling, which represents 41.8 per cent of the total interval.

From surface to 20 m depth, gravels with a sandy-clayey matrix were drilled. Dacite was recovered from 20 m to 22.9 m, whereupon the drill crossed coarse grey-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 m, 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 m, 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 m, 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 m to 339.5 m, the drill sampled a sequence of volcanic units (porphyries, breccias and ignimbrites, among others) characterized 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 quality assurance/quality control (QA/QC)

Samples of brine were submitted for analysis to Alex Stewart International Argentina SA, 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 spectroscopy (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 (three standards in total) were included within the submitted sample suite. The low-grade reference standard analyzed higher than three standard deviations (SD) of best value, with 8.6-relative-per-cent difference (RPD); the medium-grade reference standard analyzed below three SD of best value, with 4.9 RPD; the high-grade reference standard analyzed below three 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, 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 & Energy Corp.

Argentina Lithium 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 NV, 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.

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