NOA Intercepts Over 500 Meters of Lithium Brine-Saturated Units in Third Hole at Rio Grande Project

September 6, 2023, Buenos Aires, Argentina – NOA Lithium Brines Inc. (TSX-V: NOAL, FSE: N7N) (“NOA” or the “Company”) is pleased to provide an update on the progress of the Phase 1 diamond drill program at its Rio Grande project (“Rio Grande” or the “Project”). Drilling on the third hole, RG23-003, located at the Cristina claim on the surface salar was completed to a depth of 659 meters (“m”) and full laboratory results are expected in the coming weeks. Preliminary highlights of the third hole include:

• Lithium brine-saturated geological units (“units”) starting at approximately 15 m below surface.
• More than 500 meters of lithium brine-bearing units (48 total packer tests thus far).
• Believed to be the deepest reported occurrence of permeable brines at Rio Grande.
• Preliminary results confirm lithium content in the brine all along the depth of the well, with lab geochemical analyses in progress.

NOA’s Chief Executive Officer Gabriel Rubacha states: “Results from our third hole are very encouraging. As in our second hole which was also drilled on the surface salar, brines were intercepted essentially starting at surface. In addition, over 80% of this +600 m hole intercepted lithium brine-saturated units, representing an incredible thickness. With two rigs now operating, we plan to start holes 4 and 5 in September and we remain on track to complete the 6-hole Phase 1 drill program in Q4 2023 and finalize a maiden resource estimate for Rio Grande thereafter.”

Hole RG23-003 was executed with diamond drilling (HQ-size), permitting the extraction of core samples of the salar basin formations and collection of brine samples where possible. Drilling was carried out by Salta-based Hidrotec S.A., under the supervision of NOA’s geologists.

The lithological profile of the third hole is in-line with other drillholes at the Project. Almost the entire depth of the +600 m hole returned brine-saturated units based on packer testing, except for a few horizons of 10-30 m thickness. In general, halite and interstitial sands were the dominant lithologies, with amounts of each varying along the depth.

Brine packer samples have been sent for laboratory analyses, including multi-element geochemical analysis for lithium and other relevant elements, and results are expected in the coming weeks. Selected drill core samples will be sent to an accredited laboratory for physical property tests, including drainable porosity.

The Phase 1 drill program is planned for six holes and is designed to deliver a maiden mineral resource estimate for the Rio Grande project in early 2024. The location of RG23-003 is shown in Figure 1 and its drill collar information is provided in Table 2 below. 

Figure 1:  Plan Map Showing Hole RG23-003 And Previous Completed Drillholes

Table 2: RG23-003 – Drill collar information

Hole #:	RG23-003	Azimuth:	0 deg.
Claim name:	Cristina	Inclination:	-90 deg.
Coordinates (UTM 19J South):	E: 582411 m N: 7226470 m, Z: 3702 m	Contractor:	Hidrotec S.A.
		Machine type:	HT07 LF-90
		Drill type:	Diamond
		Hole diameter:	HQ

About NOA Lithium Brines Inc.

NOA is a lithium exploration and development company formed to acquire and develop assets with significant resource potential. All NOA’s projects are in the heart of the prolific Lithium Triangle, in the mining-friendly province of Salta, Argentina, near a multitude of projects and operations owned by industry leaders. NOA has rapidly consolidated one of the largest lithium brine claim portfolios in this region that is not owned by a producing company, with key positions on three prospective salars (Rio Grande, Arizaro, Salinas Grandes) and a total portfolio of approximately 100,000 hectares.  

On Behalf of the Board of Directors,

Gabriel Rubacha
Chief Executive Officer and Director

For Further Information
Website: www.noalithium.com
Email: [email protected]
Telephone: 416-568-1027

Sample analysis & QA/QC Program

The Company has a robust QA/QC and sample management program. Brine samples were collected by a single / double packer system (in-hole inflatable) to isolate specific intervals down the drillhole. The packer sampling method allows the collection of brine samples at specific depths while sealing the hole at the top and bottom of the interval. The packer system was run several times to flush the hole after drilling to clear / clean the hole prior to sampling and four samples for each interval were collected (main sample, duplicate sample, check sample, reserve sample). The drillhole of the current release was inclined vertically (90 degrees) and the salar strata are believed to be flat-lying resulting in reported intervals approximating true thickness.

Samples of brine were submitted by courier for analysis to SGS Argentina S.A., the local subsidiary of SGS International, an accredited laboratory for the analysis of lithium and other elements. SGS employed Inductively Coupled Plasma Optical Emission Spectrometry as the analytical technique for the primary constituents of interest, including: boron, calcium, potassium, lithium, and magnesium. Measurements in the field included pH, conductivity, temperature and density. The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and standard samples included within the sample sequence. Differences between original and duplicate samples and results for standards and blanks are considered within the acceptable range for lithium.

Qualified Person

Taj Singh, P.Eng, Strategic Advisor, NOA Lithium Brines Inc., is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Singh has reviewed and validated that the information contained in this news release is accurate.

Cautionary Note Regarding Forward-Looking Statements

This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking statements. Forward-looking statements including, but not limited to NOA’s future plans and objectives regarding its projects, which constitute forward looking information that involve various risks and uncertainties. Although NOA believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. NOA does not assume any obligation to update any forward-looking statements except as required under applicable laws.

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

NOA Lithium Brines

220 Bay St, Suite 550
Toronto, Ontario
Canada
M5J 2W4
Email: [email protected]