Lithium Energi Exploration Inc. (LEXI) is an exploration company focused on the acquisition, exploration, and development of lithium brine assets in Argentina. LEXI's portfolio includes approximately 57,000 hectares in Catamarca, Argentina, and a 20% interest in Triangle Lithium Argentina, S.A., which owns an additional 15,000 hectares.
Dr. Rebecca Paisley is a skilled geologist with a Ph.D. in Earth and Planetary Sciences from McGill. Her expertise in unconventional lithium extraction methods makes her a valuable addition to LEXI's board of directors.
DLE offers several advantages over traditional evaporation ponds, including faster extraction times, higher lithium recovery rates, reduced environmental impact, and better adaptability.
The global demand for lithium is predicted to grow 40-fold in the next two decades due to the energy transition to renewable power and electric vehicles.
Latin America, particularly the 'lithium triangle' of Bolivia, Argentina, and Chile, is key to the global energy transition as it holds around 60% of identified lithium resources.
Toronto, May 2, 2023 - Lithium Energi Exploration Inc. (TSXV: LEXI), a leading exploration company focused on the acquisition, exploration, and development of lithium brine assets in Argentina, is excited to announce the appointment of Dr. Rebecca Paisley as its newest board member.
Rebecca is a skilled geologist with a Ph.D. in Earth and Planetary Sciences from McGill University. Her research, fieldwork, and lab work, as well as her expertise in unconventional lithium extraction methods, make her a valuable addition to LEXI's board of directors.
"We couldn't be more thrilled to welcome Dr. Rebecca Paisley to our board," said Ali Rahman, CEO of LEXI. "Her technical background, wealth of experience in lithium and brines, and commitment to responsible extraction practices will be invaluable as we continue to advance toward our ultimate goal of producing battery-grade lithium from our extensive resource package in Argentina."
Dr. Paisley has been a dedicated advocate for responsible mining practices, working closely with industry partners, academic institutions, and policymakers to ensure the responsible management of natural resources. With her guidance, LEXI aims to prioritize Direct Lithium Extraction (DLE) technologies, a more environmentally friendly and efficient method of lithium extraction compared to traditional evaporation ponds. These technologies typically require a smaller operational footprint and significantly less water, making them an ideal choice for future lithium extraction that aims to minimize environmental impacts.
"Joining the LEXI board presents an excellent opportunity to be part of the development of responsible lithium extraction from Argentina, a country that will play a key role in addressing the growing global demand for lithium," said Dr. Paisley. "By focusing on responsible extraction via DLE processes and principled practices that align with many of the 17 UN Sustainable Development Goals, LEXI is well placed to contribute to the global lithium supply chain whilst having a positive socio-economic impact."
As the world transitions to renewable energy sources and electric vehicles, lithium will play a crucial role in shaping a more sustainable future. With the addition of Dr. Rebecca Paisley to its board, the company is well-positioned to lead the way in addressing the challenges of meeting the growing global demand for lithium in a responsible socio-economic and environmental manner.
LEXI also announces Mr. Chris Hobbs has resigned as a director of LEXI. Mr. Hobbs will continue in his role as Chief Financial Officer of LEXI.
LEXI's board of directors have granted certain directors and officers of the Company options to purchase up to 500,000 common shares with a term of three years and an exercise price equal to $0.21 per share.
About Lithium Energi Exploration, Inc.
Lithium Energi Exploration Inc. is an exploration company focused on the acquisition, exploration, and development of lithium brine assets in Argentina. Headquartered in Toronto, Ontario, with offices in Catamarca, Argentina, the Company's shares are listed on the TSX Venture Exchange (TSXV: LEXI), the Frankfurt Exchange (FSE: L09), and the U.S. over-the-counter market (OTC Pink: LXENF). LEXI's portfolio of prospective lithium brine concessions in the Argentina Province of Catamarca (heart of the lithium triangle) includes approximately 57,000 hectares and a 20% interest in Triangle Lithium Argentina, S.A., which owns an additional 15,000 hectares - all located in and around the Antofalla Salar, one of the largest basins in the region, which is over 130 km long and up to 20 km across. LEXI is committed to innovation, sustainability, and quality, striving to differentiate itself from other players in the industry to maximize its potential for success. For more information, please visit our website at lithiumenergi.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer & Director
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This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the results of preliminary testing proving accurate and repeatable over time and at commercial scale; the absence of material changes with respect to the Company and its businesses; possible variations in mineralization, grade or recovery rates; actual results of exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties; failure to of the parties to the Transactions to comply with the terms and conditions of the definitive agreements relating to the Transactions; and the use of proceeds. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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