NOA Lithium Reports High-Grade Results from its Fifth Hole at Rio Grande With Intercepts Averaging 471 mg/l Lithium over 530 Meters And Provides Financial Update

BUENOS AIRES, ARGENTINA / ACCESSWIRE / April 12, 2024 / NOA Lithium Brines Inc. (TSX-V:NOAL)(FSE:N7N) ("NOA" or the "Company") is pleased to report positive lithium results from brine samples from RG23-005, the fifth hole of the Phase 1 diamond drill program at its Rio Grande project ("Rio Grande" or the "Project"). The hole, located at the Juana Azul claim within the salar, completed to a depth of 602 meters ("m"), intersected a high-grade lithium (" Li ") brine aquifer of significant thickness starting from a down-hole depth of only 1 m.

Highlights from the fifth drill hole include:

• Near-Surface: Lithium brine-saturated geological units were encountered starting at only 1 meter below surface , indicating the Project's vast potential.
• Extensive Brine-Bearing Units: Approximately 530 m of lithium brine-bearing units were identified through 41 packer tests, affirming substantial lithium content within the salar.
• Average concentration of 464 mg/l Li in the upper 350 m, while the remainder of the hole averaged a high-grade concentration of 474 mg/l Li; and
• Encountered highest-grade concentration of 607 mg/l Li at 203 m.

NOA's Chief Executive Officer Gabriel Rubacha states: "The results of this 5 ^th hole reaffirm the potential of our Rio Grande project. We are now focused on the next stages where we expect to expand the resource drilling areas not explored yet and start our pumping holes campaign to support the development of the project. We expect to start this second stage during Q2 this year".

Hole RG23-005 was executed with diamond drilling (HQ-size), permitting the extraction of core samples of the salar basin formations and collection of brine samples, where available. Drilling was carried out by Salta-based Hidrotec S.A., under the supervision of NOA's geologists.

Diamond drill hole RG23-005 was completed at a depth of 602 m. At a depth of 1 m, the formations saturated with brine began. The lithology of the well is composed mainly by sand with sulfate intercalations and a lower proportion of crystalline halite, with contents that are variable along the depth of the well. Packer test sampling was carried out and almost the entire depth of the +600 m well returned brine-saturated units (approximately 530 m of the 602 m drilled), except for one horizon ranging 40 m in thickness.