Mr. Nikolaos Cacos reports

ARGENTINA LITHIUM REPORTS IT HAS EXERCISED OPTION AGREEMENTS ON NEARLY 25,400 HECTARES OF HIGHLY PROSPECTIVE LITHIUM PROPERTIES AT ITS RINCON WEST, POCITOS AND ANTOFALLA NORTH PROJECTS

Over the last 10 months, Argentina Lithium & Energy Corp. has fully exercised three option agreements for 100-per-cent interest in, subject to production royalties, 22 optioned properties totalling 25,391 hectares at the company's Rincon West, Pocitos and Antofalla North projects.

"Following the receipt of the investment from Stellantis, we deployed the funds to secure a large portion of our most prospective optioned properties, where we have advanced drilling and geophysics throughout 2024. These acquisitions secure large land packages where our reconnaissance work has validated initial exploration hypotheses," stated Nikolaos Cacos, president and chief executive officer.

Details of exercised property options

The Argentina Lithium news release on Aug. 4, 2021, announced the option to acquire 100-per-cent ownership of three mining concessions totalling 5,380.5 hectares at the Antofalla salar in Salta province from a group of local vendors. The agreed terms stipulated $4-million (U.S.) in payments spaced over 42 months, plus an exploration investment commitment.

In November, 2023, the company exercised the option by advancing $3.2-million (U.S.) to complete the remaining payments. At the time of the final exercise payment, the parties agreed that outstanding exploration investment commitments would be waived. A 2-per-cent net smelter royalty remains payable to the local vendors from the time the property enters production.

The Argentina Lithium news releases dated Sept. 28, Oct. 14, 2021, and March 16, 2022, announced the option agreement with a local vendor to acquire 100-per-cent ownership of multiple mining concessions in Salta province, including: 11 contiguous properties at Pocitos salar (Pocitos 200-209 and 211, totalling 15,857.5 hectares (ha)) and at Rincon salar, the Villanoveno II property (2,370.5 ha) and other properties advancing through the mining claim process including Demasia Villanoveno II (20.5 ha). The total contracted value of the option was $4.2-million (U.S.) and $700,000 in Argentina Lithium shares, payable to the vendors over 36 months.

This option was exercised by the company in November, 2023, by advancing the remaining payment of $2.9-million (U.S.) to complete the terms of the option agreement, thereby earning 100-per-cent title and with no royalties pending to the vendors.

The Argentina Lithium news release on Jan. 10, 2022, announced the option of five mining concession totalling 1,762 hectares at the Pocitos salar in Salta province (Ramos properties). The option terms stipulated $700,000 (U.S.) in payments to the vendors, spaced over two years.

The company completed the final $550,000 (U.S.) payment per schedule in January, 2024, thereby satisfying the agreement terms to earn 100-per-cent title to the properties. A 1-per-cent net smelter royalty remains payable to the local vendors from the time the property enters production.

Qualified person

Frits Reidel, CPG, 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 exploration-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 & Energy 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.

We seek Safe Harbor.