Lithium Energi Exploration Inc (LEXI)

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Lithium Energi Exploration Inc LXENF:OTC Pink - Current Information

LEXI Announces Details of Antofalla North Project Drilling
Plan
BusinessWire
8:05 AM ET

Lithium Energi Exploration Inc. (TSXV:LEXI) (the "Company"
or "LEXI") is pleased to announce that contracts are
executed, and the first drill hole in its Antofalla North
Project drilling campaign (the "Campaign") will commence in
the next 30 days.

"Our Campaign team is
best-in-class, comprising companies owned and operated by
local residents of the province of Catamarca, where the
project is located, with past experience operating in the
Salar de Antofalla," noted LEXI CEO Ali Rahman. "This
hyper-local knowledge will be critical to ensuring our
ability to execute a successful drilling campaign to prove
value in our properties and deliver shareholder value. We
believe that 2023 will be a break-out year for LEXI,
coinciding with the market's recognition that investment in
lithium is critical to actually build the energy
transition."

The Campaign will initially
undertake 1,600 meters of drilling in four diamond core
wells to obtain physical core samples and characterize the
subsurface in the properties. Average total depth ("TD") per
well is anticipated to be 400 meters; however, based on
real-time field results, deeper horizons may also be
explored. The core samples will reveal porosity,
permeability, and can provide chemical analysis critical for
resource estimation. Core samples are planned for analysis
at Geosystems Analysis, Inc. in Tucson, Arizona, one of the
foremost analytical laboratories in the world for analyzing
lithium brine core samples. Brine sample analysis will be
conducted at Alex Stewart Laboratories to yield full
spectroscopic analysis of brine chemistry and lithium
concentrations.

The Antofalla basin is a
long, narrow, fault-based graben - identified as one of the
world's largest entrapment depressions hosting
lithium-bearing brine - and its total depth is not currently
defined. Although adjacent results from others cannot and do
not assure the outcome of this Campaign, published data
resulting from drilling campaigns executed by other
exploration companies on claims near to the Antofalla North
Project have reportedly yielded indications of significant
volumes of lithium-bearing brine with concentrations ranging
from 350 to 650 ppm.

Highly experienced
lithium hydrogeologist and qualified person, Murray Brooker,
has planned the location of drill holes for the upcoming
program, based on previous TEM electrical geophysics for the
company and extensive knowledge acquired working on salt
lake projects in Argentina for more than a decade. Based on
data obtained from core samples and pump tests, the Campaign
is expected to yield a NI 43-101 resource estimate, possibly
ready for publication as early as Q4 of 2023.


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.