NOA Lithium Brines Inc. provided an update on the significant progress of its Phase 1 diamond drill program at its Rio Grande project (Rio Grande or the Project). The fifth hole, located at the Juana Azul claim within the salar was recently completed to a depth of 602 meters (m), and continues to confirm the Project's high lithium potential. Preliminary highlights of the fifth hole, RG23-005, include: Near-Surface: Lithium brine-saturated geological units were encountered starting at only 1 meter below surface, indicating the Project's vast potential.

Extensive Brine-Bearing Units: Approximately 530 meters of lithium brine-bearing units were identified through 53 packer tests, affirming substantial lithium content within the salar. Preliminary Lithium Content Confirmation: Initial results confirm lithium content in brine throughout most of the well's depth, with comprehensive lab geochemical analyses currently underway. Hole RG23-005 was executed with diamond drilling (HQ-size), permitting the extraction of core samples of the salar basin formations and collection of brine samples, where available.

Drilling was carried out by Salta-based Hidrotec S.A., under the supervision of NOA's geologists. Diamond drill hole RG23-005 was completed at a depth of 602 meters. At a depth of 1 meter, the formations saturated with brine began.

The lithology of the well is composed mainly by sand with sulfate intercalations and a lower proportion of crystalline halite, with contents that are variable along the depth of the well. Packer test sampling was carried out and almost the entire depth of the +600 m well returned brine-saturated units (approximately 530 m of the 602 m drilled), except for one horizon ranging 40 m in thickness. Brine packer samples have been sent for laboratory analyses, including multi-element geochemical analysis for lithium and other relevant elements, and results are expected in the coming weeks.

Selected drill core samples were sent to an accredited laboratory for physical property tests, including drainable porosity. Next Steps: Laboratory Analysis: Brine packer samples have been sent for multi-element geochemical analysis, focusing on lithium and other pertinent elements, with results expected in the coming weeks. Physical Property Tests: Selected drill core samples are undergoing accredited laboratory tests, including drainable porosity assessments.

Maiden Mineral Resource Estimate: With the completion of five-hole Phase 1 drill program, the Company is now working on its maiden Mineral Resource Estimate for the Rio Grande project scheduled for first quarter 2024.