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

• NOA Lithium Brines received biannual renewal for environmental and social impact report permits at Rio Grande, Argentina.
• Water well drilling mobilization scheduled to commence in May 2026, aligning with previous April 23 announcement.
• Company entered option agreement to acquire Archibarca II and III properties (3,236 hectares) for USD $800,000 consideration ($550k cash + shares).
• Consulting agreement signed with Tricone Inc. valued at USD $700,000 over nine months for exploration and hydrogeology services, paid via monthly share issuance.
• Share terms for property acquisition set minimum price of USD $0.30 per common share; consulting shares subject to 18-month resale restrictions.

• The permit renewal is a procedural necessity expected given the Preliminary Feasibility Study (PFS) timeline established in late 2025; it confirms regulatory progress but does not alter valuation fundamentals.
• Property acquisition of Archibarca II and III adds optionality for water sources but represents a nominal capital outlay ($800k) relative to the C$282M market cap, limiting immediate price impact.
• The Tricone consulting agreement is dilutive as it involves monthly share issuance; however, the amount ($700k) is small compared to prior financing rounds (C$5.9M in Dec 2025).
• Insider warrant exercises totaling ~$5.89M over 60 days (March/April news) demonstrate management confidence but also indicate reliance on equity-based capital rather than debt or strategic partners.
• Overall, the news validates the execution of the 2026 PFS roadmap without introducing new catalysts that would materially shift investor sentiment beyond current expectations.

• NOA Lithium Brines Inc. is an exploration and development company focused on lithium brine assets in Argentina's "Lithium Triangle".
• Flagship Project: Rio Grande, Salta Province (37 km²), 100% owned by NOA.
• Resource Estimate: Approximately 4.7 million tonnes of Lithium Carbonate Equivalent (LCE) with average concentration >525 mg/L.
• Development Status: Preliminary Economic Assessment (PEA) completed Oct 2026; targeting Preliminary Feasibility Study (PFS) completion by end of 2026.
• Production Plan: Two-stage development targeting 40,000 tpa lithium carbonate capacity (20k tpa Phase 1 + 20k tpa Phase 2).
• Other Assets: Arizaro and Salinas Grandes exploration properties in Argentina.