Origen Resources Inc. announced that geophysical testing has shown that a conductive layer up to 482 metres deep is found beneath a thin layer of travertine at Los Sapitos. The conductive layer rests on a resistive basement with initial indications the salar is a fault tilted basin, consistent with Origen's exploration model. This layer will be targeted by Origen's first-phase drilling scheduled for early 2024.

Origen Resources is also pleased to announce it has arranged a private placement (the "Private Placement") of up to 4,500,000 flow-through units at $0.10 per unit with each unit consisting of one flow-through share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.15 cents per share for a period of 18 months from the closing date. The levels of conductivity recorded by vertical electrical sounding on the property are consistent with those from a brine-hosting aquifer as predicted by Origen's exploration model.

Lithium-rich brines are highly conductive, and these measurements are an important diagnostic tool. Interpreted section through Los Sapitos basin based on results of Vertical Electrical Sounding. Average resistivity across the modeled units is shown in red in Ohm.m. All three survey points collected during the Vertical Electrical Sounding survey have identified 4 unique layers: a conductive superficial layer of conductive alluvial sand of around 1-2 metres thick, 2. A resistive layer of up to 7 metres thick of sand and gravel, 3. a distinct conductive layer of between 88 and 469 metres thick 4. A distinct resistive Paleozoic basement of possible granitic lithology.

Across the Los Sapitos basin thin layers of alluvial clays, gravels and travertine have covered a significant conductive basin. Sampling from earlier this year has shown that elevated lithium is found below the travertine on the part of the conductive layer that has been exposed. Vertical Electrical Sounding on Los Sapitos property in June.

Methodology. Conhidro S.R.L of Catamarca was contracted by Arex Mining on behalf of Origen to complete a geophysical survey over the Los Sapitos salar and basin. The aim of the study was to determine the thickness of the permeable sediments, depth of the hydrogeological basement and the structural conditions of the subsoil.

The study was carried out with a CGEG CO Ltd. DUK-2A, auto-compensating multi-electrode resistivity survey system. Stainless steel current electrodes and copper potential electrodes were used in a saturated solution of copper sulfate.