Argentina Lithium & Energy Corp. reported positive results from the tenth and eleventh exploration holes at its Rincon West Project in Salta Province, Argentina. Samples collected over a 295.5 m section of RW-DDH-010 ranged from 245 to 366 mg/l lithium. Samples collected over a 321 m section of RW-DDH-011 ranged from 246 to 344 mg/l lithium. Drill collar information is presented in Table 3. An extensive selection of samples has also been sent for brine recovery testing at an independent laboratory; results are awaited. The Rincon West Project covers 5198.8 hectares of the salar basin, consisting of three property blocks adjacent to Rio Tinto's Rincon Project. Drill holes RW DDH-010 and RW-DDH-011 represent the first two holes of the 6-hole program planned for the Rinconcita II property, announced in the Company's October 19, 2023 News Release. The Rinconcita II property represents a continuous extension of the sandy western basin at Rincon West, eastwards over the Rincon salt flat. Both RW-DDH-010 and RW-DDH-011 were 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. LIT'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. In certain instances, double packer sampling is conducted following the completion of drilling. In this case, inflatable seals are employed to close both the top and bottom of the sample interval. The maximum span of double packer
sampling is limited to less than 4 m by the height of the drill mast and other equipment limitations. Geophysical profiling and lining the hole with 2" diameter PVC filters was completed for both holes. All core samples recovered in drilling were retained for geologic logging. RW-DDH-010 extends drilling eastwards from previous holes, towards Rincon salt flat. The hole was completed to 401.0 m depth and a total 24 brine samples using the single and double packer method were collected and submitted for analysis. Samples collected between 63.5 m depth and 359.0 m depth (the deepest sample collected) ranged from 245 to 366 mg/l lithium. Over this 295.5 m interval 21 single and double packer brine samples were collected from intervals totalling 95.0 m, representing 32.1% of the total interval. From surface to 23 m, gravels with a sandy-clayey matrix were drilled. No core was recovered between 23 and 27.5 m. From 27.5 to 52.5 m, red and brown sandy sediments were logged. Fine and medium black sands were drilled between 52.5 and 109 m. From 109 to 162.5 m, grey and brown sands were observed. A single 20 cm clay layer was observed within this interval. A sequence primarily composed of sandy breccias was drilled between 162.5 and 197 m, though no core was recovered between 179 and 180 m. From 197 to 313.7 m, multiple units of brecciated ignimbrite were drilled, typically containing angular lithic clasts. From 313.7 to 317.7, altered breccia was observed, containing infrequent black veinlets with pyrite. Between 317.7 and 353 m, the hole intersected altered andesite with barite veins, followed by 5 m of hydrothermal breccia with traces of pyrite. From 358 to 362 m, altered andesite was drilled. Between 362 and 373 m dacitic, rhyolitic and rhyodacitic porphyry units were logged, followed by a hydrothermal breccia. Then from 378 m rhyodacitic and rhyolitic porphyry units were observed, extending the end of the hole at 401 m. RW-DDH-011 is situated to investigate the basin below the salt flat at the southeast corner of the project area. The hole was drilled to 356.0 m depth and a total 34 brine samples using the single and double packer method were collected and submitted for analysis. Samples collected between 24.5 m depth and 345.50 m depth (the deepest sample collected) ranged from 246 to 344 mg/l lithium. Over this 321.0 m interval 33 single and double packer brine samples were collected from intervals totalling 97.5 m, representing 30.4% of the total interval.
Medium-grained, brown quartzose sands were recovered from near surface to 36.5 m. Drilling from 36.5 to 45 m featured poor recoveries, showing mainly medium-sized gravels. From 45 to 62 m, the drill intersected medium brown sands. From 62 to 113 m, brown sandy breccias were recovered. No core was recovered between 113 and 114.5 m, then coarse gray and grayish-brown sands were drilled to 161 m. Between 161 and 213.5 m the drill cored crystalline halite with an alternating distribution of solid formation and of sections with parallel fractures. During the drilling of the remainder of the hole, this halite formation eroded, eventually forming a 45 cm diameter chamber which left the HQ drill string unsupported, creating a precarious situation that led to the termination of the hole. From 213.5, the hole intersected a 3 m layer of fine-to-medium-grained dark sand and from 216.5 to 228.5 m, a
solid reddish clay layer was encountered containing gypsum fragments. A sequence of sands, and conglomerates, with infrequent silty layers was drilled between 228.5 and 303.5 m. Within this sequence, no core was recovered between 249.5 and 254 m and also between 279.5 and 281 m. From 303.5 to 354.5 m, the log shows a sequence of sands and breccias. No core was recovered over the contained interval between 341 to 342.5 m. Medium-to-
coarse brown sand was encountered from 354.5 m to the bottom of the hole at 356 m. The hole was stopped within this sand formation due to the risk presented by the lack of support for the drill column through the severely eroded halite interval. Frits Reidel, CPG is a Qualified Person as defined in National Instrument 43-101, is 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.