Recharge Resources Construction Underway For Drilling Production Ready Well At Pocitos 1 Lithium Brine Project

22 September 2022

Recharge Resources Ltd.

RR: CSE | RECHF: OTC | SL5: Frankfurt

Recharge Resources Ltd. announce that road construction and preparations are underway for the Company’s imminent drilling campaign at its “Pocitos 1” Lithium Brine Project in Salta, Argentina. The Pocitos community has been extremely helpful and signed a memorandum confirming the Company’s drilling program.

The Company announced on September 20th that its project manager had entered into a drill contract for the Company’s imminent drilling campaign for its “Pocitos 1” Lithium Brine Project in Salta, Argentina with an additional USD $141,880 to the fully-funded production diameter well drill program.

Recharge is working closely with it’s in-country advisors on the fully funded single 400-meter production diameter well located between the two previously drilled exploration HQ diamond drill holes which will be positioned to confirm the continuity of aquifer containing the lithium brines delineated during previous drill campaigns for the establishment of a NI 43-101 compliant resource.

The Company expects drilling to commence on or around October 7th. Additional updates will be provided as they become available.

Figure 1. Drill on site from 2018 drilling campaign

 Video of Pocitos drilling with exceptional flow rate (2018 Drilling):

The high flow rate was encountered in both holes drilled in 2018 at the Pocitos 1 Lithium Project. This high flow rate is expected to result in reduced operational costs with the reduction of pumps required, as well as ensuring the columns have sufficient brine with the Ekosolve™ extraction methodology contemplated at the Pocitos 1 Project.

CEO and director, David Greenway states, “Road construction and preparations are underway for the Pocitos 1 production ready well drilling campaign expected to commence on or around October 7th. Recharge’s plans of drilling of a production diameter well at the Pocitos 1 Lithium Salar is moving forward quickly. With two existing drill holes in place, this new drilling will contribute to establishing a NI 43-101 mineral resource estimate. We have benefitted greatly from an Argentinian geological team which has empowered us to continue to make progress towards our next goals of establishing a NI 43-101 compliant mineral resource, a scoping study of the project, identifying offtake or supply opportunities for lithium products and strategic partners for the Pocitos 1 Project.”

Figure 2. Pocitos 1 Lithium Brine Project Map. Orange triangle denotes approximate drill hole location

About Pocitos 1 Lithium Brine Project

The Pocitos 1 Project is located approximately 10km from the township of Pocitos, Argentina, where there is gas, electricity, mobile telephone and internet services. Pocitos I is approximately 800 hectares and is accessible by road. Previous exploration teams have spent over USD $1.5 million exploring the project, including surface sampling, trenching, TEM geophysics and drilling two 400m holes that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.

Lithium values of up to 125 ppm from Laboratory analysis conducted by Alex Stewart were recorded by A.I.S. Resources Ltd (“AIS”) during the project’s first drill campaign in May 2018. AIS used a double packer sampling system in HQ Diamond drill holes drilled to a depth of 409 metres. The flow of brine was observed to continue for more than 5 hours. Both drill holes had exceptional brine flow rates. Recharge’s plan is to to drill a third production ready drill hole to work towards a NI 43-101 mineral resource calculation.

Qualified Person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.

About Recharge Resources

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

All Stakeholders are encouraged to follow the company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.

On Behalf of the Board of Directors,

David Greenway

David Greenway, CEO

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