Star Metro - NOA Lithium Receives Biannual Renewal to Rio Grande's Exploration Permits and Provides Corporate Updates

NOA is also pleased to provide an update, to its previously announced mobilization plans, and that mobilization activities remain on schedule, and water well drilling is expected to commence in May 2026.

Property Acquisition

NOA entered into an option to purchase agreement dated May 5, 2025 ("Option Agreement") with an arm's length party for the following properties located south of the Company's Rio Grande Project known as Archibarca II and Archibarca III, totalling 3,236 hectares, for aggregate consideration of USD $800,000 comprised of USD $550,000 in cash and USD $250,000 in common shares at the market price of the Company's common shares at the time of issuance subject to a minimum of $0.30 per common share (in compliance with TSX Venture Exchange Policies), which pursuant to the terms of the Option Agreement this consideration is to be paid over a period of 24 months from the date of the Option Agreement. To date, cash payments of USD $150,000 have been paid to the vendor and 226,850 common shares at a price of $0.30 per common share have been issued. The objective of the Option Agreement for the properties is to evaluate potential additional water sources for the Project and provide optionality for future development planning. No net smelter royalty exist on the properties, and no finder's fees were paid for this transcation. The Option Agreement and its terms are subject to approval by the TSX Venture Exchange.

Consulting Agreement

The Company has entered into a consulting agreement with Tricone Inc. ("Tricone"), an arm's length party, dated May 1, 2026 (the "Consulting Agreement") whereby Tricone will provide consulting services related to exploration, drilling, geology and hydrogeology in connection with the Company's projects and/or potential opportunities to be evaluated by the Company. Under the Consulting Agreement, Tricone will receive total fee of USD $700,000 over a term of nine (9) months, payable through the issuance of common shares of the Company (the "Shares") as services are completed. The Shares will be issued monthly at a deemed issue price per share equal to closing price of the common shares on the TSX Venture Exchange on the date prior to the date of issuance, provided that the deemed issue price shall not be less than CDN $0.25 per Share. As agreed to by the parties, the Shares will be issued monthly and are subject to contractual resale restrictions until the date that is 18 months from the date of the Consulting Agreement. The issuance of the Shares remains subject to applicable regulatory approvals, including approval of the TSX Venture Exchange.

About NOA Lithium Brines Inc.

NOA is a lithium exploration and development company formed to acquire assets with significant resource potential. All NOA's projects are located 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 some of the largest players in the lithium industry. 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, being Rio Grande, Arizaro, and Salinas Grandes, and totalling over 140,000 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: +54-9-11-5060-4709
Alternative Telephone: +1-403-571-8013

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the results of further brine process testing and exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

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. No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

SOURCE: NOA Lithium Brines Inc.

View the original press release on ACCESS Newswire

O.Gauthier--SMC