Lithium Energi Exploration Commences Strategic Review

Lithium Energi Exploration Inc. (TSXV: LEXI) (“LEXI” or the “Company”), a green energy company focused on the acquisition, exploration, and development of lithium brine assets in Argentina, announced today that it will form a special committee (the “Special Committee”) of independent directors to initiate with the CEO a review process to explore, review and evaluate a broad range of strategic alternatives that may be available to the Company to unlock shareholder value.

The Special Committee’s strategic review process will encompass an evaluation of a full range of alternatives, including equity market transactions, disposition of certain assets, or a potential sale or merger, including an assessment of preliminary non-binding discussions with certain parties regarding an acquisition of all or substantially all of the Company’s assets or equity.

From 2018 through May 2023, approximately $10.9 billion were invested in lithium assets in Argentina, making it one of the fastest growing markets in the Lithium Triangle, a region that contains approximately 56% of global lithium resources. As international interest in the acquisition, exploration, and development of lithium brine increases, LEXI believes this is the ideal time to evaluate and consider the full range of alternatives available to the Company to deliver value for its shareholders while strengthening scale to ensure its promising assets in Argentina can be quickly, fully, and optimally developed and utilized to the benefit of all stakeholders.

“LEXI has consolidated a world-class property portfolio consisting of approximately 72,000 hectares in the Lithium Triangle, one of the largest producing markets in the world. Our success implementing the new management team’s strategy, particularly the operational aptitude demonstrated by the quick rollout of our drilling program has successfully garnered the attention and interest of several parties on a potential sale,” said Ali Rahman, Chief Executive Officer and Director of LEXI. “We recognize that the interest in our success and well-located assets warrants a comprehensive strategic review to examine the full range of available alternatives. As we consider the future of the Company, we are committed to expanding the potential outcome of LEXI’s assets and realizing value for all our stakeholders.”