NOA Lithium Provides Update On 2026 Exploration Campaign

NOA Lithium Brines Inc. (NOAL) announced the completion of well RT-RG26-PW001 and a 48-hour continuous pumping test at its Rio Grande lithium brine project in Salta, Argentina. The well reached a total depth of 140 meters, falling short of the planned 400 meters due to persistent drilling-fluid losses in a highly permeable formation that prevented further drilling.

The 6-inch well diameter restricted the pump size, resulting in a maximum tested capacity of approximately 15 liters per second. Despite this limitation, the well maintained a stable hydraulic response, with an estimated transmissivity of about 95 square meters per day and a projected hydraulic efficiency of 93% at the 15 L/s rate. Brine laboratory results are currently pending and will characterize only the upper aquifer, not the interval below 140 meters.

Key reported items include: - Well RT-RG26-PW001: 140 m total depth versus 400 m planned; no new lithium assay reported. - 48-hour pumping test: stable response, maximum tested rate about 15 L/s, transmissivity about 95 m²/day, efficiency about 93% at 15 L/s. - Historical DDH-RG23-001, reported in June 2023: 101-139 m returned lithium above 400 mg/L; a deeper interval from 311-469 m averaged 773 mg/L Li, with individual values up to 925 mg/L. - Brine assays from RT-RG26-PW001 are pending. - David O'Connor, P.Geo., is named as the NI 43-101 Qualified Person.

NOA Lithium Brines Inc. (NOAL) is a pre-development brine company that has completed a preliminary economic assessment (PEA) and holds a 4.7 million tonne lithium carbonate equivalent (LCE) resource at its Rio Grande project. The company has no revenue and is targeting a pre-feasibility study (PFS) completion before the end of 2026. At a market capitalization of approximately C$65 million, the equity trades at C$0.23 per share, near the low end of its 52-week range. Prior-period financials reported cash reserves of C$8.72 million as of March 31, 2026, alongside an explicit going-concern warning and dependence on future financing.

The company published an anchor result, RT-RG26-PW002, on October 29, 2026. This well averaged 651 mg/L lithium from eight pumped samples, was drilled to approximately 404 meters, and included 142 meters of screened casing. The well produced 20 liters per second (L/s) under recommended conditions and up to 25 L/s at maximum capacity. Following the release, the stock traded between C$0.20 and C$0.23 in late October 2026, close to its C$0.18 low and well below its C$0.34 high.

The release does not alter the resource, PEA economics, or reserve base. It adds a hydraulic data point consistent with PEA flow assumptions but leaves the deeper high-grade target untested. A previous well, RT-RG26-PW001, had no lithium assay results, was drilled to only 140 meters, and tested 15 L/s. That well is located in a different upper aquifer near DDH-RG23-001 rather than serving as a same-zone step-out. The current release adds modest hydraulic data but does not add grade or scale to the existing resource model.

NOA Lithium Brines Inc. is a TSXV-listed lithium brine exploration and development company focused on the Salta Province of Argentina, located within the Lithium Triangle. Its flagship Rio Grande project hosts approximately 4.7 million tonnes of lithium carbonate equivalent (LCE), comprising about 2.66 million tonnes in the Measured and Indicated category and 2.04 million tonnes Inferred, with an average lithium concentration of roughly 525 mg/L.

A preliminary economic assessment (PEA) completed by Hatch outlines scenarios for 20,000 tonnes per annum (tpa) and 40,000 tpa LCE production over a 30-year mine life. The company is targeting a preliminary feasibility study (PFS) before the end of 2026.

NOA also holds the Arizaro and Salinas Grandes salars within a portfolio of more than 140,000 hectares. A prior-period management discussion and analysis (MD&A) stated that Arizaro and Salinas Grandes were fully written off because management had no foreseeable plans to explore them, while an investor presentation still describes an Arizaro option or joint venture with Summit Explore. The company’s management includes CEO Gabriel Rubacha and Executive Chairman Hernán Zaballa.