Argosy Minerals Limited announced a JORC Code (2012) compliant Exploration Target estimate has been independently prepared by AQ2 for the Rincon Lithium Project, located in Salta Province, Argentina. The Exploration Target estimate is 262,000 tonnes to 479,000 tonnes of lithium carbonate between the depth interval of 102.5m to 300m below ground level, and underlies the existing Indicated Mineral Resource estimate (completed in 2018). The combined JORC Indicated Mineral Resource and Exploration Target1 estimates outline the potential for a range of up to 507,000 tonnes to 724,000 tonnes of contained lithium carbonate at the Rincon Lithium Project to a depth of 300m below ground level. Noting the potential for the brine aquifer to continue being open at depth (based on historical drilling within Salar del Rincon), the Company notes the potential for further exploration expansion and conducting further studies to increase the current mine life defined at the Project. Argosy views the results of the Exploration Target1 estimate of an additional 262,000 tonnes to 479,000 tonnes of lithium carbonate (in addition to the existing JORC Indicated Resource of 245,120 tonnes of Li2CO3) as favourable for the potential scale-up of production capacity up to 10,000tpa (following receipt of the necessary regulatory approvals) as the immediate next step following the development of the proposed 2,000tpa operation.