Argentina Lithium & Energy Corp. announced that it has entered into option agreements with local vendors to earn a 100% interest in two new mining concessions on salars in northwestern Argentina. The Don Fermin property option ("Don Fermin") adds 1456 hectares to the Company's holdings at Salar de Rincon, bringing the total Rincon West Project area to 5198.8 hectares.

The Lexi-30 property option ("Lexi") adds 789 hectares to the Company's Antofalla North Project, increasing the holdings controlled by the Company to 16,619.5 hectares. Don Fermin is a mining concession granted by the mining authority of Salta Province, located on the eastern flank of the Salar de Rincon, approximately 19 km east of the Company's main Rincon West property block. The property has not received significant exploration work previously.

It is located adjacent to Rio Tinto's Rincon Project and 1.1 km distance northeast of Argosy Minerals'Rincon Project. Lexi-30 is a mining concession granted by The mining authority of Catamarca Province, located on the west side of the Salar de Antofalla, adjacent to the Company's existing Antofalla North property block. The property has been the subject of TEM surveys in the past but has not previously been drilled.

It is located approximately 1.1 km northwest of Albemarle Corporation's Antofalla Project. Don Fermin Agreement Details Terms of the option include cash payments totaling USD 2,750,000 over 18 months, including an initial non-reimbursable payment of USD 250,000. The Company can advance the dates of the subsequent four payments at its discretion.

The vendor remains a 1.5% Net Smelter Royalty ("NSR") which can be repurchased for USD 4 million. Lexi Agreement Details Terms of the option specify two cash payments totaling USD425,000, including a non-reimbursable initial payment of USD 50,000, and an optional final payment of USD 375,000, payable at up to 12 months. The vendor retains a 2% Net Smelter RoyalTY ("NSR").

In the instance that the vendor wishes to transfer or sell the NSR, the Company has the right to match the terms of NSR transference or sale.