NOA Lithium Announces High-Grade Lithium Results at Rio Grande and Financial Update

NOA Lithium Brines Inc. has disclosed significant lithium findings from its RG23-005 drill hole at the Rio Grande project. The results indicate high-grade lithium concentrations over extensive intervals, showcasing the project's potential. The drill hole intersected a lithium brine aquifer, revealing an average concentration of 464 mg/l lithium in the upper 350 meters and a peak concentration of 607 mg/l.

The company’s CEO, Gabriel Rubacha, highlighted the positive outcomes, emphasizing the project’s expansion and upcoming stages, including a resource drilling and pumping holes campaign scheduled for Q2 this year. This drill was executed by Hidrotec S.A., emphasizing NOA's commitment to advancing the project with detailed geological analysis.

Additionally, NOA Lithium reported entering a bridge loan financing agreement with its CEO, Gabriel Rubacha, totaling USD $1 million. This loan aims to support the company’s capital expenditures and corporate activities, with repayment terms set within 60-90 days, anticipating further capital financing discussions. The financing arrangement also includes potential conversion to common shares, underlining the management's confidence in the project’s progress.