NOA Lithium Veterans Delivering Large Maiden Resources in Q1/24

• Gabriel Rubacha is CEO of NOA Lithium, a junior exploration company recently listed on the Toronto Stock Exchange.
• Rubacha has over 30 years of experience in engineering, construction and mining projects in South America.
• NOA Lithium has acquired a 100,000 hectare lithium property portfolio in Argentina.
• The company is focused on fast-tracking exploration at Rio Grande, targeting a maiden resource estimate in Q1 2024.
• Rubacha believes Argentina needs more mining development and is optimistic about support from provincial governments.

About NOA Lithium

Lithium is in high demand as a key component of electric vehicle batteries and energy storage systems. However, supply has not kept pace, creating opportunities for new market entrants. One company moving quickly to tap into Argentina's vast lithium reserves is NOA Lithium Brines, led by veteran mining executive Gabriel Rubacha.

NOA Lithium is a lithium exploration and development company focused on acquiring assets with significant resource potential. All of NOA's projects are located in the heart of Argentina's Lithium Triangle in the mining-friendly province of Salta. The company has rapidly amassed an extensive portfolio concentrated around three promising salt lakes - Rio Grande, Arizaro and Salinas Grandes. In total, NOA controls over 100,000 hectares of highly prospective lithium brine concessions neighboring operations owned by leading producers.

The region NOA is exploring is considered one of the world's most productive lithium-rich areas. Numerous major players in the lithium industry have set up extraction facilities there to take advantage of the abundant natural resources.

NOA states that it is committed to sustainable and responsible natural resource development. The company aims to explore and conduct business in line with industry best practices and expresses support for all stakeholders, including the local communities near its operations.

Interview with Chief Executive Officer, Gabriel Rubacha

NOA Lithium Background

In March 2023, NOA Lithium commenced trading on the Toronto Stock Exchange after completing a reverse takeover deal. The company wasted no time initiating its exploration program in Argentina's lithium triangle. "We started spending the money in exploration there which we started in March," said Rubacha. "We already finished three holes, two more to come before the end of the year."

Rubacha brings over 30 years of relevant industry experience to his role as CEO of NOA Lithium. He spent 26 years working in engineering and construction, executing mining projects in South America and, during the last five years, working in the Lithium space. Gabriel served as an independent director at Lithium Americas Corporation.

"I joined the Lithium Americas board as an independent director then in 2017," Rubacha explained. "I joined the company as an executive. I was president of [Lithium Americas'] South American operations."

Strategic Land Acquisition

NOA's team leveraged their extensive connections to methodically assemble NOA Lithium's property package. "We were able again with the experience and our network, we managed to negotiate different deals with different individuals," said Rubacha. "We managed to get 37,000 hectares in Rio Grande, close to 40,000 in Arizaro and 10,000 [hectares] in Salinas Grandes."

NOA Lithium now controls over 100,000 hectares of lithium brine properties in Argentina's Salta province. Rubacha highlights the experience of working in the area as a key advantage for permitting and development.

Fast-track to Maiden Resource

While NOA Lithium's portfolio includes the Arizaro and Salinas Grandes projects, Rubacha sees significant potential at Rio Grande. "We believe that Rio Grande's got a lot of potential," Rubacha stated. "The decision was based on previous exploration that was done in Rio Grande by LSC at the time."

Rubacha expects remaining assay results from the current drilling program at Rio Grande before year-end. The company remains on track to deliver a maiden resource estimate in Q1 2024.

"Our expectation is to have a maiden resource in the neighborhood of 1 to 1.5 million tons LCE [lithium carbonate equivalent]," said Rubacha. He believes this could be achieved by exploring just a portion of the concessions.

Favorable Economics

The high lithium concentrations encountered at Rio Grande give NOA Lithium flexibility regarding extraction methods. Unlike projects requiring more complex direct lithium extraction (DLE), Rio Grande may be amenable to lower-risk evaporation process.

"The concentration we're getting in from the exploration gives us the flexibility to go into evaporation," Rubacha explained. "There are many other projects that got a lower concentration which leads them to DLE which still something to be developed."

Securing Strategic Partners

Once exploration is complete at Rio Grande, NOA Lithium plans to advance development of other assets. Rubacha acknowledges specialized expertise is needed to produce battery-grade lithium compounds.

"We do believe that somebody else should step in as a partner," said Rubacha. "In whatever capacity in order to help us for the development."

In the near-term, NOA Lithium is focused on exploration activities aimed at expanding resources. The company intends to investigate partnership opportunities once initial milestones are met.

Supportive Environment

Rubacha highlights that mining regulation falls under the jurisdiction of provincial authorities in Argentina. This localized oversight helps streamline permitting for developers.

"The resources in Argentina belong to the provinces, so the most interested parties are provinces," Rubacha explained. "The three provinces where lithium is located - Jujuy, Salta and Catamarca - [are] pro mining."

Rubacha believes Argentina needs to encourage mining investment to spur economic growth and job creation. With strong local backing, NOA Lithium appears well-positioned to successfully advance projects in the country.

The Investment Thesis for NOA Lithium

• Rapid timeline to maiden resource positions NOA Lithium to capitalize on strong lithium demand forecasts.
• Potential for low-cost production utilizing solar evaporation extraction methods.
• Attractive entry point with enterprise value of just C$26 million.
• Proven in-country management team with extensive lithium development experience.
• Exploration and development risk somewhat mitigated by historical drilling results.
• Partnership potential provides development funding options and engineering expertise.
• Supportive provincial permitting regime in Argentina's lithium triangle.

Led by industry veteran Gabriel Rubacha, NOA Lithium has swiftly assembled an extensive lithium brine property package in Argentina's mining-friendly Salta province. Promising historical results point to resource expansion potential, with the company on track to deliver a maiden resource estimate at its core Rio Grande project in early 2024. Strategic partnerships could subsequently fast-track NOA Lithium's transition from explorer to producer. While risks remain at this early stage, favorable project economics and supportive provincial jurisdictions help strengthen the investment case as NOA Lithium moves to capitalize on surging lithium demand.