LIT.V · 2023-01-26 12:00:00

Argentina Lithium Drilling Extends Lithium Brine Zone at Rincon West

Drill Results

Argentina Lithium Drilling Extends Lithium Brine Zone at

Rincon West

VANCOUVER, BC

Jan. 26, 2023

/CNW/ -

Argentina Lithium & Energy Corp.

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

("Argentina Lithium" or the "Company")

reports positive lithium brine values at its Rincon West Project in

Salta Province

Argentina

, including a

153 m

interval ranging from 329 to 393 mg/l lithium

from the sixth diamond drill hole. The seventh

exploration hole is in final steps to completion, with two additional holes planned.

"The new drilling results extend the zone of concentrated lithium brines towards the west and southwest from earlier drill

intersections. The remarkable interval from the sixth hole, RW-DDH-006, is our best interval to date, and it is a step-out of

960 m

from the prior best intersection reported previously in the fourth hole. With RW-DDH-005, we drilled 1.7 km southwest

of the sixth hole, looking for the western limit of the brine zone. These large step-outs demonstrate concentrated lithium

brines extend broadly through the core of the property. The remaining three drill holes will be located to further delineate the

brine aquifer."

stated

Miles Rideout

, V.P. of Exploration.

The results of the brine analyses, type of sample collected, and the respective intervals from which brine was recovered are

shown in Table 1. Drill collar information is presented in Table 2.

The Rincon West Project, located west and north of Rio Tinto's adjacent Rincon Project, covers 3742.8 hectares of the salar

basin. Rincon West is currently permitted for up to 9 exploration drill holes.

Figure 1

presents a map of the Rincon West

property showing the positions of the seven initial exploration holes (see News Releases dated

July 13, 2022

October 3, 2022

and

October 25, 2022

). The map in Figure 1 displays the drill locations overlaid on the conductive zones

delineated with TEM geophysics (see

May 2, 2022

News Release

; Note: the easternmost property extension was acquired

after the completion of the TEM survey and therefore shows no geophysics results).

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

for drill holes RW-DDH-

005 and RW-DDH-006

Sample Interval (m)

Sample

Method

Density

From

Thickness

(mg/litre)

(g/ml)

RW-DDH-005

143

Bailer

197

1.006

185

Bailer

155

2432

1986

1.104

194

Bailer

173

2686

2068

1.108

224

Bailer

199

3243

2058

1.12

239

Bailer

209

3423

2201

1.124

260

Bailer

168

2623

1868

1.1

290

Bailer

1323

943

1.052

328

Bailer

104

1552

1172

1.064

99.7

3.7

Double packer

<10

1.000

120

123.7

3.7

Double packer

<10

207

161

1.006

162

165.7

3.7

Double packer

1137

748

1.042

192

195.7

3.7

Double packer

847

512

1.032

RW-DDH-006

Single Packer

317

278

1.01

Single Packer

598

563

1.024

Single Packer

126

1985

1370

1.078

119

143

Single Packer

233

4461

2055

1.134

143

155

Single Packer

292

5484

2650

1.162

167

179

Single Packer

329

6022

2892

1.178

179

191

Single Packer

348

6509

3128

1.184

191

206

Single Packer

339

6473

3052

1.18

206

218

Single Packer

378

7224

3411

1.194

218

230

Single Packer

379

7224

3468

1.206

230

245

Single Packer

378

6895

3366

1.194

245

257

Single Packer

385

7157

3451

1.21

257

269

Single Packer

393

7420

3436

1.215

269

293

Single Packer

385

7500

3205

1.21

293

308

Single Packer

334

6360

2743

1.18

303

320

Single Packer

336

6355

2736

1.178

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

Technical Details

Both holes were executed with diamond drilling (HQ-diameter), permitting the extraction of core samples of the salar basin

formations, and recovery of brine samples where possible. RW-DDH-005 was drilled

between September 26 and October 24,

2022

, stopping at 328.4 metres depth in volcanic units. Lining the hole with 2" diameter PVC filters and tubing was completed

October 26, 2022

RW-DDH-006 was drilled

between October 27 and November 26, 2022

, stopping at 329.8 metres depth in a metamorphosed

sedimentary unit. Final profiling and lining the hole with 2" diameter PVC filters and tubing were completed by

December 3,

2022

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

Table 2: Collar and maximum depth information for RW-DDH-005 and RW-DDH-006

Hole ID

East

North

Elevation

Azimuth

Dip

Depth

UTM Zone 19S (WGS84)

(m)

(deg.)

(m)

RW-DDH-005

680426

7336767

3808

n/a

328.4

RW-DDH-006

681291

7338205

3764

n/a

329.8

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.

While drilling RW-DDH-005, every attempt at brine sampling with the single packer apparatus failed to recover significant

quantities of brine. Sampling was thus accomplished at intervals during drilling by employing a bailer unit to recover brines from

near the bottom of the drilled interval. A limitation of bailer sampling is that the interval is not sealed above, thus mixing with

solutions from upper portions of the hole is probable. The site geologists believe the lack of brine recovery during packer

sampling was likely related to the depth of the phreatic water table in the hole, identified approximately

72 m

below the collar.

Apparently the packer airlift system was unable to lift dense brines this height above the phreatic level.

In follow-up sampling, the drill crew was able to recover brines from selected intervals while employing a double packer

system.

Sampling with the single packer system was completed without significant difficulty at RW-DDH-006. In this case, the well

collar is situated at a lower elevation with a measured phreatic level of

37.6 m

Observations regarding RW-DDH-005

RW-DDH-005 is the westernmost hole completed to date, and the collar is located at the highest elevation yet tested on this

project. The hole tested gravels and volcanic clasts in a sandy matrix to

29 m

depth, where ignimbrite was encountered,

continuing to

41 m

depth. With a short transition, the drill entered medium-to-coarse gray sandstone from approximately

42 m

continuing to

54 m

, followed by a

1 m

layer of medium-to-fine black sandstone. Coarse gray sandstone was observed from

62 m

, followed by coarse brown sandy units with layers of sulphates, continuing to

77 m

depth. A brecciated sandstone

with sandy matrix then extends to

200 m

depth. This unit was intensively fractured between

176 m

and

197 m

depths.

Ignimbrite with varying degrees of fracturing was logged between

200 m

and

296.5 m

depths. The geologic log demonstrates

a complex sequence transitioning from ignimbrite to aphanitic volcanics between 296.5 to

306 m

depth. The hole was

terminated in volcanics at

328.4 m

depth.

Observations regarding RW-DDH-006

Breccias and conglomerates with sandy matrices were observed from near-surface to

32 m

depth. A sequence of sandy and

silty sedimentary units with sulphates followed, ending in a sequence of sandy clays, logged between 47 and

53 m

depth.

Brown coloured sandstones were observed from

53 m

, extending to

86 m

depth. From

86 m

95 m

, breccias with quartzite

fragments in a sandy matrix were logged. Ortho-quartzite then follows, continuing to

284 m

depth, with multiple zones of

relative competency interspaced by zones of intensive fracturing. A lithologic change was observed at

284 m

, with a silicified

sedimentary unit below. As the degree of fracturing reduced with depth, this unit was interpreted as a metamorphosed

sedimentary rock. The drill was stopped in this metamorphosed sedimentary unit at

329.8 m

depth.

All core samples recovered in drilling were retained for geologic logging. An extensive selection of samples has been sent for

brine recovery testing at an independent laboratory. This analysis remains pending.

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. For the holes RW-DDH-005 and 006 reported herein, the blank (2)

and duplicate (3) samples reported within the acceptable range. A single low-grade, medium-grade, and high-grade

reference standard sample was included within the submitted samples for each hole. The low-grade reference standard

analyses were above 3 standard deviations (SD) with less than 5% relative percent difference (RPD); the medium grade

reference standard returned one result above 3 SD and one at 2 SD above the best value with 1.47 and 1.00 RPD,

respectively; the high-grade reference standard returned one result less than 3 SD and one within 2 SD of the best value; with

low RPD (1.73 and 0.72, respectively).

Rincon West Project

The following summarizes the properties held within the Rincon West Project. 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 Rinconcita 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 26-JAN-23

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