LEXI ANNOUNCES COMPLETION OF ANTOFALLA NORTH & SOUTH DRILLING PROGRAM

Apr 23 2025 23:25 BST

VANCOUVER, BC , April 23, 2025 /CNW/ - Lithium Energi Exploration Inc. (TSXV: LEXI) (OTCQB: LXENF) (the "Company" or "LEXI") is pleased to announce that it has completed drilling at the Antofalla North Project and the Antofalla South Project, in the south of the salar.

The Campaign consisted of 1,003.4 meters across the northern and southern properties. Three diamond holes were drilled in the northern LEA I, LEA XXXIV and LEA V properties. Two diamond holes to 200 m depth, and a third hole to 302 m depth, were drilled in the LEA XXVI property in the south of the salar. The average depth of all holes across these two Campaigns was 284 m. Core samples were collected to provide measurements of porosity. Samples were collected every 12 m, with porosity results yet to be received from the laboratory for the second program.

Brine sample analyses have been conducted at the independent Alex Stewart Laboratories to yield full spectroscopic analysis of brine chemistry and lithium concentrations (see Tables 2 and 3 for results, together with the sample widths). The Alex Stuart laboratory in the city of Jujuy was used as the primary laboratory, with the laboratory in Mendoza used as the check laboratory. All brine samples have now been received from the program.

The Company used the services of specialized downhole geophysical contractor, Zelandez Limited, to collect borehole magnetic resonance (BMR) measurements of in-situ porosity (specific yield) in the holes. This provides detailed measurements of porosity on a centimeter-scale, to understand changes in porosity with depth and location, providing high quality detailed information on the porosity of the sediments. Additionally, data from spectral gamma and resistivity logging tools, was collected, to provide additional lithological information.

The Antofalla basin is a long, narrow, fault-based graben – identified as one of the world's largest depressions, hosting extensive lithium-bearing brine – although the total depth in the basin is not well known. The results of the brine sampling are presented in Tables 2 and 3, for the southern and northern drilling programs. The brine sample results are highest from the southern LEA XXVI property, which is located on the western side of the salar.

The lithium concentration increases from north to south through the Antofolla South Project (LEA XXVI), with the lithium concentration increasing from an average of 238 mg/l Li in the northern hole DDH01, to 308 mg/l Li in the central hole DDH5 and 412 mg/l Li in the southern hole DDH3. Lithium concentration also showed an increase with depth in the holes, suggesting the influence of surficial infiltration of surface water and dilution of brine, most notably in the northern hole, DDH01 LEA XXVI. The suggestion from the TEM and MT geophysics, and knowledge on other salar systems, is that lithium-bearing brine will extend west off the salar below areas of gravel, and potentially into porous Tertiary age sediments or volcanics. This concept remains to be tested by future drilling.

In LEA XXVI brine is present in a surficial sequence of salt, which is underlain by sands and gravels, which vary in their degree of compaction and porosity. Drilling is not believed to have intersected tertiary terrestrial sediments, which are present around the salar margins, and potentially form the base of the salar. These southern drill holes have terminated in gravel units, which are believed to be alluvial fans, formed from sediment eroded from the salar margins and deposited within the salar, and later covered by salt. This is a pattern noted in many other salar basins.

The northern drill holes intersected a sequence of interbedded loose friable sands and compact gypsum sands, gravels, sands and occasional volcanic units across the LEA XXXIV, LEAI and LEAV properties on the west and east of the salar. These drillholes are in the northern part of the salar, within Catamarca province, north of the Antofalla village. Lithium concentrations in the northern properties were lower than those in the LEA XXVI property in the south of the salar, with lithium concentrations in the northern properties interpreted to be less concentrated than those in the center and south of the salar, which are interpreted as the nucleus of the salar. Lithium concentrations increased down hole from more dilute concentration around 100 mg/l Li, (with a low of 76 mg/L Li ) as near surface values, to a high of 189 mg/L downhole in DDH01-LEA 1, at 251-269 m.

The location of drill holes was based on previous time-domain/transient electromagnetics studies (the "TEM"). An extensive TEM survey was conducted over all the northern properties by geophysical contractor Quantec. TEM and MT was conducted in the LEA26 property by geophysical contractor GeoResource, to allow deeper imaging of the conductive brine unit, confirming it is hundreds of meters thick, and providing resolution of geological units at depth.

Samples were submitted with duplicate and standard samples, which show acceptable comparison between primary and duplicate samples and standard samples, compared to the certified standard concentration.

The technical content of this news release has been reviewed and approved by Mr. Murray Brooker, P. Geo., a consultant to the Company, and a qualified person as defined by National Instrument 43-101.

Table 1: Location and characteristics of drillholes from the northern and southern drilling programs

HOLEID	EASTING_GK2	NORTHING_GK2	DIP	AZIMUTH	DEPTH m	DRILLHOLE DIAMETER	PROJECT
DDH01-LEA XXVI	2654736	7191797	-90	0	200	HQ	ANTOFALLA SOUTH
DDH05-LEA XXVI	2599680	7109839	-90	0	200	HQ	ANTOFALLA SOUTH
DDH03-LEA XXVI	2599854	7107366	-90	0	302	HQ	ANTOFALLA SOUTH
DDH01-LEA I	2654736	7191797	-90	0	401	HQ	ANTOFALLA NORTH
DDH01-LEA XXXIV	2651982	7190708	-90	0	401	HQ	ANTOFALLA NORTH
DDH02-LEA V	2650573	7182931	-90	0	401	HQ	ANTOFALLA NORTH

Table 2: Summary of brine chemistry from holes drilled by LEXI in the Antofalla South Project. Holes were drilled vertically and the sediments in the salar are flat lying. All thicknesses of brine mineralization delimited by the from to intervals in meters are true thicknesses. The extension of the brine is open at depth in the three holes in LEA XXVI, as bedrock to the salar is not believed to have been intersected.

HOLEID	FROM	TO	SAMPLE TYPE	B_mg/L	K_mg/L	Li_mg/L	Mg_mg/L
DDH01-LEA XXVI	24	32	Single packer	313	1347	208	3349
DDH01-LEA XXVI	48	68	Single packer	319	1720	217	3493
DDH01-LEA XXVI	104	122	Single packer	390	1547	239	4013
DDH01-LEA XXVI	122	140	Single packer	380	1414	251	3858
DDH01-LEA XXVI	140	158	Single packer	360	1433	229	3738
DDH01-LEA XXVI	158	176	Single packer	402	1376	251	4059
DDH01-LEA XXVI	182	200	Single packer	412	1364	268	4089
DDH03-LEA XXVI	14	32	Single packer	682	2904	433	9458
DDH03-LEA XXVI	32	50	Single packer	681	2908	433	9341
DDH03-LEA XXVI	50	68	Single packer	680	2908	433	9344
DDH03-LEA XXVI	104	122	Single packer	661	2805	418	9156
DDH03-LEA XXVI	140	158	Single packer	664	2826	411	8965
DDH03-LEA XXVI	158	176	Single packer	627	2643	380	8503
DDH03-LEA XXVI	176	194	Single packer	640	2724	401	8983
DDH03-LEA XXVI	194	212	Single packer	626	2860	393	8709
DDH03-LEA XXVI	212	230	Single packer	641	2753	401	8885
DDH03-LEA XXVI	248	266	Single packer	669	2842	417	9101
DDH03-LEA XXVI	276	277	Single packer	634	2746	394	8665
DDH05-LEA XXVI	32	50	Single packer	508	2185	319	6493
DDH05-LEA XXVI	50	68	Single packer	449	1986	286	5463
DDH05-LEA XXVI	68	86	Single packer	526	2309	330	6934
DDH05-LEA XXVI	140	158	Single packer	504	2079	309	6310
DDH05-LEA XXVI	158	176	Single packer	480	1984	299	5771
DDH05-LEA XXVI	176	200	Single packer	492	2051	307	6364

Table 3: Summary of brine chemistry from holes drilled by LEXI in the Antofalla North Project

HOLEID	FROM	TO	SAMPLE TYPE	B mg/L	K mg/L	Li mg/L	Mg mg/L	Na mg/L
DDH01-LEA I	32	50	Single packer	149	1789	105	1812	80792
DDH01-LEA I	50	68	Single packer	145	1757	107	1822	78638
DDH01-LEA I	86	104	Single packer	140	1688	129	2699	86122
DDH01-LEA I	122	140	Single packer	137	1643	119	2435	81397
DDH01-LEA I	140	158	Single packer	147	1743	125	2547	82437
DDH01-LEA I	161	179	Single packer	156	1847	131	2672	90599
DDH01-LEA I	179	197	Single packer	140	1756	115	2326	94287
DDH01-LEA I	197	215	Single packer	115	1421	102	1842	108034
DDH01-LEA I	215	233	Single packer	112	1503	98	1747	106981
DDH01-LEA I	233	251	Single packer	128	1858	105	1643	108740
DDH01-LEA I	251	269	Single packer	258	2927	189	2523	97057
DDH01-LEA I	269	287	Single packer	194	2277	147	2295	96578
DDH01-LEA I	287	305	Single packer	211	2385	165	2751	101885
DDH01-LEA I	305	323	Single packer	224	2473	175	2980	99335
DDH01-LEA XXXIV	36	38	Single packer	113	1050	76	1434	53409
DDH01-LEA XXXIV	54	56	Single packer	170	1973	118	1868	75607
DDH01-LEA XXXIV	72	74	Single packer	198	2284	147	2114	83800
DDH01-LEA XXXIV	90	92	Single packer	161	1966	125	1956	87032
DDH01-LEA XXXIV	132	133	Double packer	189	2323	141	2202	102020
DDH01-LEA XXXIV	150	151	Double packer	196	2397	146	2287	108990
DDH01-LEA XXXIV	174	175	Single packer	181	2238	138	2160	99572
DDH01-LEA XXXIV	197	215	Single packer	182	2234	138	2234	106362
DDH01-LEA XXXIV	215	233	Single packer	155	2017	113	1887	91662
DDH01-LEA XXXIV	233	251	Single packer	182	2251	136	2186	111328
DDH01-LEA XXXIV	251	269	Single packer	183	2267	137	2185	109238
DDH01-LEA XXXIV	272	287	Single packer	185	2274	137	2187	112275
DDH01-LEA XXXIV	287	305	Single packer	179	2202	132	2155	109630
DDH01-LEA XXXIV	305	323	Single packer	180	2199	133	2164	108732
DDH01-LEA XXXIV	326	344	Single packer	173	2115	128	2114	106527
DDH01-LEA XXXIV	344	362	Single packer	172	2124	128	2104	109157
DDH01-LEA XXXIV	362	380	Single packer	175	2117	128	2124	106116
DDH01-LEA XXXIV	380	401	Single packer	172	2151	129	2118	109008
DDH02-LEA V	38	56	Single packer	123	1567	93	1612	92283
DDH02-LEA V	56	74	Single packer	134	1712	103	1724	96644
DDH02-LEA V	74	92	Single packer	128	1637	96	1647	93621
DDH02-LEA V	92	110	Single packer	134	1699	99	1710	96292
DDH02-LEA V	110	128	Single packer	141	1809	106	1799	100401
DDH02-LEA V	146	164	Single packer	154	1981	105	1959	108067
DDH02-LEA V	182	200	Single packer	151	1962	103	1920	104893
DDH02-LEA V	230	236	Double packer	161	2160	112	2067	113234
DDH02-LEA V	263	272	Double packer	163	2169	113	2063	111643
DDH02-LEA V	272	284	Double packer	169	2374	126	2160	112278
DDH02-LEA V	296	308	Double packer	178	2365	127	2242	109583
DDH02-LEA V	347	353	Double packer	176	2351	128	2230	109229
DDH02-LEA V	353	357	Double packer	163	2162	113	2075	114214
DDH02-LEA V	359	365	Double packer	174	2358	127	2223	110405
DDH02-LEA V	388	392	Double packer	135	1942	108	1765	87801

Update on Credit Agreement

Further to the Company's press release dated March 7, 2025, the Company has not been able to arrange financing to repay the outstanding amounts under its secured credit facility with Arena Investors LP, for which it received a demand notice and notice of intention to enforce security pursuant to Section 244(1) of the Bankruptcy and Insolvency Act. The Company therefore has a large working capital deficit and there can be no assurance that its operations will continue in the current form, or at all.

About Lithium Energi Exploration Inc.

Lithium Energi Exploration Inc., (TSXV: LEXI), (FSE: L09), (OTCQB: LXENF), or "LEXI" is an exploration company focused on the acquisition, exploration, and development of lithium brine assets in Argentina. LEXI's portfolio of prospective lithium brine concessions in the Argentina Province of Catamarca (heart of the lithium triangle) includes approximately 57,000 hectares and a 20% interest in Triangle Lithium Argentina, S.A., which owns an additional 15,000 hectares - all located in and around the Antofalla Salar, one of the largest basins in the region. LEXI is committed to innovation, sustainability, and quality, striving to differentiate itself from other players in the industry to maximize its potential for success. LEXI is headquartered in Vancouver, British Columbia, with offices in Catamarca, Argentina. For more information, visit lithiumenergi.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Ali Rahman"
________________________
Ali Rahman,
Chief Executive Officer & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the results of preliminary testing proving accurate and consistent with secondary testing and repeatable over time and at commercial scale; the absence of material changes with respect to the Company and its businesses; possible variations in mineralization, grade or recovery rates; actual results of exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties; failure to of the parties to the Transactions to comply with the terms and conditions of the definitive agreements relating to the Transactions; and the use of proceeds. Although the forward-looking statements contained in this news release are based upon what the management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.

Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE Lithium Energi Exploration Inc.

Company Announcements

LEXI ANNOUNCES COMPLETION OF ANTOFALLA NORTH & SOUTH DRILLING PROGRAM