Argentina Lithium & Energy Corp (TSXV: LIT), known for its strategic lithium projects in Argentina, has announced the full exercise of options for properties covering nearly 25,400 hectares. This substantial acquisition enhances Argentina Lithium’s commitment to its Rincon West, Pocitos, and Antofalla North projects.

Argentina Lithium Expands its Portfolio

Over the last ten months, Argentina Lithium has acquired a 100% interest in 22 optioned properties. These properties are located within their key projects: Rincon West, Pocitos, and Antofalla North, spanning an impressive 25,391 hectares.

Finance Deployment and Exploration Progress

Following an investment from Stellantis, Argentina Lithium utilized the funds to secure these key properties. The company has since advanced its drilling and geophysics activities throughout 2024, reinforcing initial exploration hypotheses.

Details of the Exercised Options

In August 2021, Argentina Lithium announced an option to acquire three mining concessions at Antofalla Salar, Salta Province. The terms included US$ 4,000,000 in payments over 42 months and an exploration investment commitment. By November 2023, they completed the acquisition with a US$ 3,200,000 payment.

Additional options were exercised in November 2023 for properties in Salta Province, including those at Pocitos and Rincon Salars. These acquisitions were finalized with remaining payments, securing a 100% ownership with no additional royalties.

Qualified Person and Approvals

Frits Reidel, a Qualified Person as defined by National Instrument 43-101, has reviewed these projects. The exploration work at Rincon West has been robustly assessed, validating the company’s ongoing initiatives.

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