LIT.V · 2023-04-24 12:00:00

Argentina Lithium Further Delineates Concentrated Lithium Brine Zone at Rincon West Project

Corporate Updates

Argentina Lithium Further Delineates Concentrated Lithium Brine

Zone at Rincon West Project

VANCOUVER, BC

April 24, 2023

/CNW/ -

Argentina Lithium & Energy Corp.

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

, ("Argentina Lithium" or

the "Company")

reports continued positive lithium brine results at its Rincon West Project in

Salta Province

Argentina

, including a

178 m

* section with

results ranging from 241 to 340 mg/l lithium (*no sample was collected from

30 m

of this interval) from the seventh diamond drill hole of the current

program.

"These new results demonstrate the continuity of concentrated lithium brines within our exploration area and expands the area known to host lithium

brines to the northwest. We have been pleased by the extensive vertical column of concentrated brines intersected to date in the core of our basin.

The drill program has confirmed the original geophysical interpretation for conductive brine aquifers very well, providing confidence in the potential

for future drilling on the extensive untested portions of the geophysical anomaly to continue to potentially extend our zone of lithium-rich

brines."

stated

Miles Rideout

, V.P. of Exploration.

The results of the brine analyses for holes seven and eight are shown in Table 1, as well as the type of sample collected, and the respective intervals

from which brine was recovered. The ninth and final hole of the program was recently completed and laboratory analytical results are pending.

Rincon West Project and Program Details

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

Figure 1

presents

a map of the Rincon West property showing the positions of the nine permitted and completed exploration holes from this program (see News

Releases dated

July 13, 2022

October 3, 2022

October 25, 2022

and

January 26, 2023

). 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).

Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists. Drill holes RW-DDH-007 and

RW-DDH-008 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. Argentina Lithium'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.

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

for drill holes RW-DDH-007 and RW-DDH-008

Sample interval

(m)

Sample Method

Density

From

Thickness

(mg/litre)

(g/ml)

RW-DDH-007

113

143

Single packer

197

3591

1910

1.121

143

167

Single packer

278

5475

2378

1.171

167

191

Single packer

286

5691

2415

1.171

191

212

Single packer

297

5793

2529

1.176

212

230

Single packer

285

5486

2470

1.170

230

248

Single packer

271

5174

2351

1.160

266

284

Single packer

241

4446

2147

1.139

296

321

Single packer

340

6460

2863

1.192

141

144

Double packer

291

5438

2551

1.166

156

159

Double packer

264

4950

2297

1.153

168

171

Double packer

285

5314

2511

1.164

180

183

Double packer

280

5217

2419

1.158

RW-DDH-008

Single packer

<10

<20

<10

1.001

113

Single packer

<10

1.002

110

125

Single packer

943

1046

1.040

140

155

Single packer

312

5629

2861

1.180

182

197

Single packer

228

4044

2042

1.136

197

212

Single packer

355

6148

3088

1.195

*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-007 and RW-DDH-008

Hole ID

East

North

Elevation

Azimuth

Dip

Depth

UTM Zone 19S (WGS84)

(m)

(deg.)

(m)

RW-DDH-007

681453

7337379

3775

n/a

347.0

RW-DDH-008

680688

7337736

3781

n/a

323.0

Observations regarding RW-DDH-007

RW-DDH-007 is an in-fill hole in the south-central portion of the basin. From near surface to

66 m

depth, sandy units were crossed with gravel and

clay beds. Sulphate minerals appear in the sedimentary sequence below

66 m

, with particularly high concentration between 90 and

116 m

depths.

Fine-to-medium sandy units extended from 116 to

191 m

, with layers of clay, sulphates and fine gravels observed infrequently. Basement clasts were

also observed sporadically at some levels. From 191 to

215 m

depth, a unit of coarse-to-medium sands was intersected. Ignimbrites with little

fracturing were intersected between 215 and

285 m

depths. From

285 m

to the bottom of the hole, what are interpreted as basement units with

varying degrees of alteration and silicification were intersected. The hole was terminated at

347 m

depth in argillic-altered granite.

Observations regarding RW-DDH-008

RW-DDH-008 extends drilling to the northwest and infills an undrilled area between holes RW-DDH-005 and 006. Gravels and sands were drilled in

the top

26 m

of this hole, underlain by

6 m

of weakly-cemented volcanic tuff. Sandy units resumed at

32 m

, initially with a large amount of organic

material, and with sulphates beginning at

37 m

depth. A silt layer with clay was crossed between 40 and

62 m

. Fine sands with coarse gravel layers

were intersected between 62 and

83 m

, extending to

86 m

with poorly consolidated sands. There follow

5 m

of sands in a clay matrix, and from 91 to

122 m

, coarse-to-medium sands containing basement clasts. From 122 to

182 m

, another coarse-to-medium sandy unit was crossed exhibiting

ignimbrite clasts and very infrequent clay layers. The hole crossed ignimbrite with little fracturing between 182 and

277 m

depth. The underlying

transition showed

1.5 m

of breccia with angular basement clasts, followed by quartzite basement. The uppermost

30 m

of basement displays fractures

filled with pyrite, hematite and chlorite. The drill was stopped at

323 m

in quartzite basement with little fracturing.

All core samples recovered by 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-007 and 008 reported herein, the blank (2) and duplicate (2) samples reported within the

acceptable range. A single low-grade and either a medium-grade or 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 between 2.0 and 8.6 relative percent

difference (RPD) from the best value; the medium grade reference standard inserted into the hole RW-DDH-007 sample sequence was within 2 SD

below the best value with 0.75 RPD; the high-grade reference standard inserted into the hole RW-DDH-008 sample sequence returned less than 3 SD

below the best value with a 2.46 RPD.

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:

Please contact: Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email:

[email protected]

CO: Argentina Lithium & Energy Corp.

CNW 07:00e 24-APR-23

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