American Salars Lithium Inc. announced it entered into an agreement with Recharge Resources Ltd. to acquire a 100% interest in the Pocitos 1 Lithium Salar Project ("Pocitos 1") consisting of 800 Hectares ("Ha") near the town of Pocitos in Salta, Argentina. Terms of the ("Transaction") are outlined as follows. The project has an NI 43-101 Mineral Resource Estimate ("MRE") prepared in December 2023, consisting of an inferred 760,000 tonne lithium carbonate equivalent ("LCE").

The MRE is contained on the Pocitos 1 block (800 Ha) in combination with the neighbouring Pocitos 2 block (532 Ha). All of the drilling that makes up the basis of the MRE, on the combined Pocitos 1 and Pocitos 2 blocks, occurred on the Pocitos 1 Block that is being acquired by American Salars. The MRE was prepared by WSP Australia Pty Ltd. (?WSP?) that has extensive lithium resource experience working on many of the major lithium resources globally.

The MRE will be updated to reflect the proportional lithium resource on the Pocitos 1 block and additional upcoming work on porosity and permeability will also enhance the updated MRE. NI 43-101 Mineral Resource Estimate Highlights: Highest Lithium value tested using packer sampling system was 169ppm Lithium at a depth 363m. The MT geophysics survey has discovered a large area to the west with a resistivity of 0.4O.m and a depth of more than 1km.

Ekosolve?DLE technology pilot plant test work at University of Melbourne achieved 94.9% extraction efficiency with brines at an average lithium concentration of 86 ppm lithium of which 80.76 ppm was recovered. Significant brine flow was recorded in 2018 wells PO1 and PO2 and brine and gas in PO3 drilled in November 2022. The company will start a new drill/production well program when the permits are issued by the Salta Mines Department.

Furthermore, the Vendor announced on May 28th, 2024, that it had completed its environmental baseline assessment report that will be used for a production environmental impact assessment (?EIA?). This is a key step towards the development and potential production at Pocitos 1. The report is titled "Environmental and Social Baseline report for the Pocitos 1 and 2 concessions on the Pocitos Salt Flats." The report was the culmination of four months work by E & C Asociados, a specialist environmental consulting group.