LIT.V · 2022-10-25 12:00:00

Argentina Lithium Announces Positive Results from Third and Fourth Drill Holes at Rincon West

Drill Results

Argentina Lithium Announces Positive Results from Third and Fourth

Drill Holes at Rincon West

TSX Venture Exchange (TSX-V):

LIT

Frankfurt Stock Exchange (FSE):

OAY3

OTCQB Venture Market (OTC):

PNXLF

VANCOUVER, BC

Oct. 25, 2022

/CNW/ -

Argentina Lithium & Energy Corp.

(TSXV: LIT) (FSE: OAY3) (OTC: PNXLF),

("Argentina Lithium" or

the "Company")

reports positive lithium brine values from the third and fourth diamond drill holes at its Rincon West Project in

Salta Province

Argentina

. The Rincon West project covers 3742.8 hectares of the salar basin, located west and north of the adjacent Rincon Project owned by Rio

Tinto. The property is currently permitted for up to 9 exploration drill holes. The fifth exploration hole is currently in final steps to completion. The brine

analytical results from the third and fourth holes have been received and are reported below.

"The fourth exploration hole has produced our best results to date. Lithium brines start at 38 metres depth, but the exciting result is the interval from

95 m

227 m

, with lithium values ranging from 334 to 382 mg/litre over a continuous

132 m

interval. The third hole, located in the southern portion

of the property produced lower grade brines at the bottom of the hole. Though the lithium potential appears to decrease in the southern portion of the

basin, it is notable that we still produce lithium brines while stepping out 1.8 km south from our previous drilling. We have more drilling to do, to fully

delineate our brine aquifer, particularly in the west and north."

stated

Miles Rideout

, V.P. of Exploration.

The results of the brine analyses and the respective intervals from which brine was recovered are shown in Table 1. Drill collar information is presented

in Table 2.

Figure 1

shows the positions of the five initial exploration holes on the Rincon West property, including RW-DDH-003 and RW-DDH-004, and the

previously announced RW-DDH-001 (see

July 13, 2022

News Release

) and RW-DDH-002 (see

October 3, 2022

News Release

). Exploration drilling is

ongoing at RW-DDH-005. The map presents the drill locations overlaid on the conductive zones delineated with TEM geophysics (see

May 2, 2022

News Release

; Note: the easternmost property was acquired after the completion of the TEM survey and therefore has no survey results

showing).

Technical Details

Both holes were executed with diamond drilling (HQ-size), permitting the extraction of core samples of the salar basin formations, and recovery of brine

samples where possible. RW-DDH-003 was executed

between July 26 and August 22

, stopping at 353 metres depth in igneous rock units. Lining the

hole with 2" diameter PVC filters and tubing was completed on

August 23, 2022

RW-DDH-004 was executed

between August 26 and September 21

, stopping at 254 metres depth in igneous basement rock units. Final sampling and

lining the hole with 2" diameter PVC filters and tubing were completed by

September 22, 2022

Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists.

Brine sampling was conducted using a single packer sampling unit during drilling of both holes. The packer sampling method allows the collection of

brine samples at specific depths while sealing the hole at the top and bottom of the interval.

Table 1: Interval data and results of brines analyses for lithium, potassium, and magnesium

for drill holes RW-DDH-003 and RW-DDH-004

Sample Interval (m)

Brine Sample

Density

From

Thickness

Method

(mg/litre)

(g/ml)

RW-DDH-003

299

353

single packer

152

3058

1288

1.090

RW-DDH-004

single packer

149

2462

1743

1.090

single packer

172

3103

2026

1.110

single packer

247

4683

2564

1.162

single packer

269

5083

2819

1.162

single packer

293

5412

2864

1.172

104

single packer

334

6194

3246

1.184

104

113

single packer

354

6699

3368

1.190

113

122

single packer

351

6653

3303

1.190

122

131

single packer

338

6377

3061

1.182

131

140

single packer

352

6766

3260

1.186

140

149

single packer

368

7189

3457

1.196

149

158

single packer

361

7427

3443

1.210

158

167

single packer

376

8071

3442

1.210

167

179

single packer

382

8266

3391

1.22

179

191

single packer

365

8023

3313

1.214

191

203

single packer

368

8167

3387

1.22

203

227

single packer

369

7718

3429

1.214

*Both drill holes were inclined vertically; the salar strata are believed to be flat lying resulting in reported intervals approximating true thickness.

Table 2: Collar and maximum depth information for RW-DDH-003 and RW-DDH-004

Hole ID

East

North

Elevation

Azimuth

Dip

Depth

UTM Zone 19S (WGS84)

(m)

(deg.)

(m)

RW-DDH-003

682231

7335900

3799

n/a

353

RW-DDH-004

682086

7338774

3744

n/a

254

Observations on RW-DDH-003

RW-DDH-003 is the southernmost hole planned for this program, being located approximately

1800 m

south of RW-DDH-002. The hole passed through

interbedded sands and gravels from surface to 90.7 metres depth. From

90.7 m

102.8 m

, the hole traversed ignimbrites. Sandy units interbedded

with gravels were logged from

102.8 m

303.4 m

depth. Clays were logged in this sequence in the interval

114 m

133.8 m

. The drill entered

ignimbrites with a significant degree of fracturing and secondary porosity at

303.4 m

, extending to

308 m

depth. From

308 m

the ignimbrites lacked

alteration and fracturing. The hole was terminated in this unit at

353 m

depth.

In frequent packer tests through the sequence of sediments, insufficient recovery of liquid was obtained for sampling. The final packer test, situated at

the interval between

299 m

and

353 m

depths was successful, producing the brine sample presented in Table 1.

Observations on RW-DDH-004

Lithium brines were sampled from

39 m

depth, tending to increase in density and lithium values to

149 m

, where density values plateaued, as reported

in Table 1. Fresh water was not encountered in the hole.

Poorly consolidated sands and gravels were logged from the surface to

32 m

depth, followed by a

3 m

layer of clay. Frequently high-porosity sandy

sediments (red, brown, grey and black sandy units) were then logged from

35 m

depth to

107 m

, with minor yellow clays occurring in the narrow

interval between

38 m

and

41 m

A silty unit with clay was logged from

107 m

113 m

. Sulphates and also orpiment were observed with this unit. Interbedded units of sandy sediments

and gravels were logged from

113 m

193 m

, where sulphates and occasional levels with ignimbrite clasts were observed. A fractured ignimbrite was

traversed between

193 m

and

204 m

. At

204 m

, the drill entered competent andesites with low porosity. The drill was stopped in this unit at

254 m

depth.

All core samples recovered in drilling are retained for logging and are available for subsequent laboratory evaluation of factors such as total and

effective porosity, permeability and other measurable characteristics of the aquifer formation.

Analyses and QA/QC

Samples of brine were submitted for analysis to Alex Stewart International Argentina S.A. ("Alex Stewart"), the local subsidiary of Alex Stewart

International, an ISO 9001:2008 certified laboratory, with ISO 17025:2005 certification for the analysis of lithium, potassium and other elements. Alex

Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry ("ICP-OES") as the analytical technique for the primary constituents of

interest, including boron, calcium, potassium, lithium, and magnesium. Measurements in the field included pH, electrical conductivity, temperature and

density. The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and reference standard samples

included within the sample sequence. The blank (3) and duplicate (2) samples reported herein were analysed at Alex Stewart all reported in the

acceptable range. Low-grade (3) and medium-grade (2) reference standards were included in the sample submissions to Alex Stewart. Two of the low-

grade reference standard analyses were greater than the acceptable range of 3 standard deviations (SD) and one was at the 2 SD acceptable limit;

relative percent difference (RPD) ranged from 1.00-5.83%. The medium-grade standard returned one analyses at 2 SD; the second was less than 3

SD but RPD was low (1.01-2.02%). Select samples have also been submitted to a second laboratory as a standard check protocol.

Rincon West Project

The Rincon West Project comprises the following properties. Villanoveño II and Demasia Villanoveño II, totaling 2491 hectares, are held under an

option whereby the Company can earn a 100% interest, as described in the Company's

September 28, 2021

News Release

. Argentina Lithium has also

purchased the 460.5 hectare Riconcita II property, adjacent to Villanoveño II (see

August 25, 2022

News Release

). The Company entered into an

option agreement to earn a 100% interest in four contiguous mine concessions, the "Paso de Sico" option, totalling 791.3 hectares in the northern part

of the Salar de Rincon (see

October 6

News Release

Qualified Person

David Terry

, Ph.D., P.Geo. is the Company's Qualified Person as defined in National Instrument 43-101. Dr. Terry is responsible for oversight of the

Company's early-stage exploration at the Rincon West property. The disclosure in this news release has been reviewed and approved by Dr. Terry.

About Argentina Lithium

Argentina Lithium & Energy Corp 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. The management group has a long history of success in the resource sector of

Argentina

and

has assembled a first-rate team of experts to acquire and advance the best lithium properties in the "Lithium Triangle". The Company is a member of

the Grosso Group, a resource management group that has pioneered exploration in

Argentina

since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

__________________________________

Nikolaos Cacos

, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts

responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve

inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company

believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral

properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future

exploration and operating plans are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially

from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no

assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ

materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain,

amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the

possibility that future exploration, development or mining results will not be consistent with the Company's expectations.

Actual results may differ

materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a

more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any

forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit

information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative

of mineral deposits on our properties.

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SOURCE

Argentina Lithium & Energy Corp.

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For further information:

Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email: [email protected]

CO: Argentina Lithium & Energy Corp.

CNW 07:00e 25-OCT-22

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