RAIN Enters into Argentinian Lithium JV over 150,000 Hectares
RAIN CITY RESOURCES INC.
142 – 757 West Hastings St. Vancouver, BC V6C 1A1
RAIN ENTERS INTO ARGENTINIAN LITHIUM JV OVER
150,000 HECTARES
Thursday September 5, 2024 – Vancouver, BC – Rain City Resources Inc. (RAIN:CSE) (the
“Company” or “Rain”) reports that it has entered into a Joint-Venture Agreement (the “Joint
Venture”) with Lithium Argentina Investments (“Lithium Argentina”), a private company based in
Argentina with extensive lithium-focused exploration licenses in Argentina. Rain will be a 50%
owner of the Joint Venture Company.
The Joint Venture provides a clear structure of mutual collaboration to explore, develop and, where
agreed, commence lithium production. It also provides a framework for the negotiation and execution
of agreements on specific projects.
Benjamin Hill, Rain’s CEO, commented, “This marks the start of our relationship with Lithium
Argentina and provides Rain with access to approximately 150,000 hectares of some of Argentina’s
most prospective salars. Significant work has previously been conducted on the licenses and we
believe that our low-cost modular ACCELi technology developed by Avonlea Lithium Corporation
(“Avonlea”) offers one of the best opportunities to commercially exploit these salars in an
environmentally friendly and water neutral way. We look forward to working closely with both
Lithium Argentina and Avonlea and expect to provide further news on select projects in the coming
months.”
In accordance with the terms of the Agreement, Lithium Argentina will provide exclusive access to its
portfolio of exploration licenses representing an initial portfolio of projects totaling 150,000 hectares.
This project package secures access to a number of salars including Salar de Antofalla and Salar de
Hombre Muerto. Additionally, the Joint Venture contemplates project expansion with third party
associates of Lithium Argentina who themselves have significant land holdings. [See map at bottom]
Rain will provide mining exploration and development expertise and the use of its proprietary
ACCELi direct lithium extraction (DLE) technology. The Company initially agrees to fund
exploration and development expenditure with the intention of moving towards the building of a
modular ACCELi pilot plant producing between 1,000 and 5,000 tons per annum of lithium carbonate
equivalent per project.
Projects under consideration by Rain are located in the lithium-prolific northwestern quadrant of
Catamarca Province and in close proximity to major mining companies such as Albermarle, Posco
and Arcadium.
In recognition of his significant contributions in sourcing and developing the Avonlea opportunity,
along with the creation of management team and Board, and his support of ongoing related
development opportunities in Latin America, David Shaw, Chairman of Rain, was granted a bonus of
$225,000 on August 20th, 2024. Mr. Shaw subsequently elected to invest the full amount of this bonus
in shares of Rain pursuant to the current offering.
The company confirms that the date of the Avonlea option agreement was amended to September 30,
2024, to accommodate the close of the current share offering (see August 22, 2024 announcement).
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Figure 1: Map of Claim Boundaries
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About:
Rain City is a vertically integrated renewable energy technology company focussed on
developing the technologies that serve the world’s growing energy storage needs. The primary
focus is lithium production sourced from brines using proprietary Direct Lithium Extraction
(DLE) processes. Rain has agreed to acquire a 100% interest in an innovative and patented
DLE technology (ACCELi).
FOR FURTHER INFORMATION CONTACT:
Benjamin Hill David Shaw
Chief Executive Officer Chairperson
RAINCITY RESOURCES INC.
Website: www.raincityresources.com
Email: [email protected]
Telephone: 778-819-3792
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy of accuracy of this news release.