Option Exercised To Acquire Pocitos 1 Lithium Brine Project

VANCOUVER – Recharge Resources Ltd. has paid USD $500,000, as required by the option to acquire a 100% interest in the Pocitos 1 Lithium Brine project in Salta, Argentina. The amount was paid in advance of the deadline and is the final cash payment in order to acquire a 100% interest in the project and will fully vest the Company as an 80% owner in the project.

CEO, David Greenway stated, “The Company made a USD $500,000 payment in advance of the deadline in order to secure and exercise its option on the Pocitos 1 project. With an offtake LOI in place, a license agreement to build up to 20,000 tonne Ekosolveâ„¢ lithium extraction plant, the elements of the Pocitos 1 lithium brine project are aligning nicely. Our next goal of establishing a NI 43-101 compliant mineral resource, a scoping study of the project and formalizing our offtake agreement for lithium carbonate, is getting closer.”