Lithium Energy Limited confirm that new significant intersections of conductive brines have been encountered at drillholes SOZDD002 and SOZDD003 currently being drilled at the Company's highly prospective Solaroz Lithium Brine Project in Argentina, in the heart of South America's world renowned Lithium Triangle (Solaroz). Drilling at SOZDD002 (Chico V concession, see Figure 1) has intersected highly conductive brines over an interval of approximately 107 metres, from a depth of 186 metres to 293 metres. From 186 metres to 293 metres, the brines are hosted in unconsolidated sands, below which conductive brines are hosted in fractured shales, with drilling continuing to advance and encountering highly conductive brines (with current depth of 438 metres).

Drilling at SOZDD003 (Chico 1 concession, see Figure 1) has proceeded at a faster pace than the drilling rig operating at SOZDD002 with the Company being pleased to report that highly conductive brines have now been intersected in the upper aquifer and that drilling has entered the targeted Deep Sands Unit with highly conductive brines also being encountered in this lower aquifer. In the upper aquifer at SOZDD003, highly conductive brines were intersected over an interval of approximately 107 metres, from a depth of 176 metres to 283 metres before encountering a thick halite (salt unit) layer. At a depth of 500 metres, drilling then transitioned through the halite layer into the targeted Deep Sands Unit.

The Company is pleased to advise that highly conductive brines have now been encountered in the Deep Sands Unit commencing at a depth of 500 metres with a current interval of approximately 57 metres to 557 metres (to date), with highly conductive brines continuing to be encountered at depth in this lower aquifer as drilling progresses. These results follow the significant lithium discovery made by the Company at its first drillhole (SOZDD001) at the Mario Angel concession at Solaroz, which returned c umulative intersections of up to 235 metres of lithium brine mineralisation with assay results from packer sampling of conductive brines returning lithium concentrations of up to 555 mg/L with positive flow rates and Mg/Li ratio. The intersection of brines at these locations (located approximately 15km from the Company's initial lithium discovery at SOZDD001) is highly significant as it adds confidence to the Company's geological model of extensive sandstone aquifers hosting conductive brines being present below substantial portions the Company's 12,000 hectare concession holding at Solaroz.