NOA Lithium Brines Inc. reported a maiden Mineral Resource Estimate ("MRE") statement for its Rio Grande lithium ("Li") brine project ("Rio Grande") in the Salta province of Argentina. The MRE detailed in Table 1 below includes 1,919,000 metric tonnes ("Mt") of lithium carbonate ("Li2CO3) equivalent ("LCE") with an average Li concentration of 612 mg/l in the Measured & Indicated ("M&I") category. Moreover, the MRE includes an Inferred category which contains an additional 371,000 Mt of LCE with an average Li concentration of 610 mg/l. The initial exploration well program was designed to characterize the subsurface lithology and determine the potential for a lithium resource within the mining concessions.

Locations for the exploration wells currently drilled and location coordinates and depths for these wells are provided in Table 2 below. A total of 2,481 meters were drilled in this initial program and included in the MRE. Wells drilled in this initial program used the diamond drill hole method by Hidrotec Perforaciones S.R.L., based in Salta, Argentina.

All boreholes are vertical, and depths drilled represent true thicknesses. During drilling, core samples were obtained for laboratory analysis and brine samples for chemical analysis. Core samples were stored in wooden boxes and labeled with the borehole name and depth.

Lithological descriptions were done by geologists of NOA and reviewed by Montgomery & Associates. The MRE was prepared in accordance with the guidelines of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and uses best practice methods specific to brine resources, including a reliance on sampling methods that yield depth-specific chemistry and effective (drainable) porosity measurements. The MRE was completed by independent ?qualified person' Mr. Michael Rosko, M.Sc., C.P.G. of Montgomery & Associates.

Resource estimates were calculated by multiplying the polygon area by the unit thickness by the drainable porosity by the lithium grade calculated for corresponding intervals. Subsequently, the resulting value was summed within each polygon, for each assigned resource category. Considering that nearly 100% of chemistry samples show concentration values significantly higher than 200 mg/, no cut-off grade was applied to calculate the MRE.

The primary analytical laboratories for the data used in this MRE are Alex Stewart, Argentina and SGS Laboratory, Argentina. Both laboratories are accredited to ISO 9001:2008 and ISO14001:2004 for their geochemical and environmental labs for the preparation and analysis of numerous sample types, including brines.