Alpha Lithium Granted Green Light for Drilling at Argentinian Hombre Muerto Salar

Canada: Alpha Lithium Corp to unlock powerful new assets in Argentina's Hombre Muerto, the Company has received licenses to commence exploration operations on its two undeveloped Lithium assets located in the Salar del Hombre Muerto. All safety checks of the rig and crew for the initial drilling rig are underway, with production expected to begin before this month is out. To further bolster their efforts, Alpha has secured a second drilling rig, which will join them soon in 2023.

In the next 12 months, Alpha plans to drill up to 12 wellbores on its expansive 5,000+ hectare property, plus implement new Vertical Electrical Sounding (VES) campaigns. This powerful push could potentially open an entire new frontier of resources for the Corporation.

Major corporations invest in Hombre Muerto Salar Hombre Muerto, one of South America's most desirable salar, has long lured in various multinational corporations who are eager to tap into its high Lithium brine grade, low levels of impurities and high flow rates. Livent Corp has been producing 20,000 tonnes/year of battery-grade Lithium for over 25 years here until now, the lucrative properties have been primarily controlled by three major players: (i) Argentina's oldest Lithium chemicals producer, Livent Corp; (ii) Korea-based POSCO; and (iii) Australian producer Allkem Ltd.

Now in 2022, after meeting with local government officials, POSCO is upping their game by investing an additional US$4 billion on their 10,000 hectares in the area – signifying a clear intent to address the rocketing demand for lithium.

The Company has announced plans to increase its land position at the highly sought-after Hombre Muerto, while updating shareholders on their progress. President and CEO Brad Nichol expressed his immense enthusiasm for the step forward, remarking that this was a “game-changing moment” for Alpha and its supporters.

Having already developed the Tolillar salar to a point where it is drawing attention from many industry players, Alpha can now double down on replicating their success over the past two years, this time in Hombre Muerto. This location is only located around 10-15 km away from Tolillar, making it useful for the Company to utilize their recently enlarged camp as a base for operations. All of Alpha's assets and undertakings are found exclusively in Argentina and are managed by Alpha Australia SA with local staff members and advisers. Both parent company Alpha and its subsidiary have no activities or possessions in Canada whatsoever.

Since commencing its exploration program in 2020, Alpha SA has made significant strides with the help of a large Argentinian team. This included drilling over 20 holes, creating an in-house brine chemistry laboratory, developing a successful Lithium Carbonate production process that works in Tolillar and starting construction of a pilot plant. The Company has also employed dozens of skilled Argentinian technologists, engineers, geologists, geophysicists, and chemists, along with students, accounting professionals, managerial staff, and HR personnel. Alpha SA is immensely grateful for their hard work and dedication as it has enabled them to generate greater value for shareholders.