LEXI Begins Lithium Drilling in Antofalla North

Lithium Energi Exploration Inc. (TSXV: LEXI) (the “Company” or “LEXI”) is pleased to announce the commencement of its Antofalla North Project drilling campaign. This significant milestone marks the start of a new chapter in LEXI's journey to provide the lithium needed to actually build the green energy economy.

The drilling campaign, led by Dr. Gerardo Romero Agüero, President of Lithium Energi Argentina (LEA) S.A. and LEXI Director, has already reached the first 40 meters of the anticipated 400-meter well, with a state-of-the-art Boart Longyear LF90D smart drill. Initial fluid samples were obtained and are now being sent to Alex Stewart Laboratories to yield a complete spectroscopic analysis of brine chemistry and lithium concentrations.

“We are optimistic about the potential of the Antofalla North Project," said Mr. Agüero. "The speed and quality of the work undertaken by our campaign team are highly encouraging, and our commitment to safety, environmental care, community relations, and compliance with international quality standards is unwavering.”

The drilling campaign is being executed by a highly experienced, hyper-local team, ensuring the best possible understanding of the Antofalla Salar and its potential. The operation is being carried out entirely by companies from Catamarca, demonstrating LEXI's commitment to local empowerment and responsible practices.

In line with its commitment to the local community through infrastructure development, LEXI has provided a new generator with greater capacity to the Community of Antofalla. This initiative, coupled with the improvement and maintenance of over 22 km of local roads, facilitates LEXI's operations and significantly benefits local residents, tourists, and other companies in the area. These roads also provide access to other LEXI properties in the Antofalla North project.

LEXI's CEO, Ali Rahman, added, "This is a proud moment for LEXI. The commencement of drilling in under 90 days from takeover by new management underscores the company’s capacity to not only implement the company’s green energy strategy but, more importantly, to execute it. We are confident that 2023 will be a breakout year for LEXI as we continue to drill our impressive portfolio of properties in the Antofalla Salar.”

At its conclusion and based on the data obtained from the brine and core samples and pump tests, the campaign is expected to yield an NI 43-101 resource estimate, which the Company believes could be ready for publication as early as Q4 of 2024. The technical content of this news release has been reviewed and approved by Mr. Murray Brooker, RP. Geoscientist 10,086, a consultant of the Company, and a qualified person as defined by National Instrument 43-101.