VANCOUVER, BC – TheNewswire - November 06, 2024 – SALi Lithium Corp. (CSE: SALI) (the “Company” or “SALi”) is pleased to provide a corporate update on its Argentina and Canadian lithium projects.

El Quemado Project, Salta, Argentina

SALi’s El Quemado Project in Salta, Argentina spans 58,290-hectares and are host to several lithium-bearing pegmatites. Key highlights from previous exploration activities, including work by SALi, at El Quemado include:

• Sample assays* are ranging from nil to 2.02% LiO (n = 283 samples) 

• Identification of 10 key targets for follow-up exploration. 

• Satellite imaging revealed 874 potential pegmatites targets with a total strike length of 47.6 km. 

The El Quemado district is characterized by pegmatites emplaced mainly in the regional metamorphic basement, associated with numerous small granitic bodies, further confirming the potential for substantial lithium occurrences in the region.

SALi is awaiting approval of the Environmental Impact Study (EIS). Upon receiving the necessary permits, the Company plans to initiate a comprehensive exploration program.

*Considers channel and rock samples of all lithologies

Huaytiquina Project, Salta, Argentina

The Company reports that it has acquired the Huaytiquina Project, a lithium brine project located in the Salar del Rincón basin. The 7,625-hectare project lays within the Altiplano-Puna high plateau known for significant lithium resources. Highlights from historical exploration work includes:

• Piezometric wells and hydrochemical analysis of brines conducted to evaluate the radius of influence and the chemical composition of the brine reservoir indicated a high concentration of lithium, among other valuable minerals, in the region's brines. 

• The Project lies near the Catua Aquifer System and the Volcanic Aquifer Complex, both of which contribute to the area’s water resources and are critical for lithium brine extraction. 

• The concessions are underlain by Miocene-age volcanic rocks, which could be related to the copper-gold metallogenic belt that extends through Chile and Argentina. This belt includes nearby deposits such as Taca-Taca (First Quantum) and Lindero (Mansfield). 

  

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Sali Lithium Corp. Huaytiquina Concessions

 

Projects, Quebec, Canada

The Company confirms their significant land package in the James Bay Region of Quebec, Canada, aimed at advancing lithium pegmatite exploration. The claims total 34,442 hectares, positioning SALi to become a leading player in the exploration for lithium-bearing pegmatite properties in what is becoming one of the worlds’ more significant hard rock lithium regions.

The Company has secured a 100% working interest in the following areas:

• Noyau Project: 87 claims surrounding the Chavamond Project, covering 4,220 hectares. 

• Doree Riche Project: 613 claims around the Sacred Banana Project, covering 30,222 hectares. 

This strategic acquisition aligns with the Company’s vision to capitalize on the growing demand for lithium, driven by the electric vehicle and renewable energy sectors. SALi intends to initiate early exploration activities on these acquired lands, following positive results from the area conducted by Whiterock Lithium Corp.

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Sali Lithium Corp. Chavamond Pegmatite Outcrops

 

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Sacred Banana Pegmatite Outcrops Adjacent to SALi’s claims

 

Executive Team Update

SALi would also like to take this opportunity to thank Christina Blacker, the Company’s outgoing Chief Financial Officer (CFO), for her hard work and dedication during her tenure. We wish her the best in her future endeavors.

Additionally, the Company is pleased to announce the appointment of Grant Smith as CFO, and Lisa Maxwell as its Corporate Secretary. We are confident that both appointments will contribute to the continued success and growth of SALi.

The Company also announces, subject to regulatory approval, it has granted 1,100,000 stock options (“Options”) to purchase common shares of the Company to certain officers and consultants pursuant to the Company’s Stock Option Plan. Such Options are exercisable into common shares of the Company at an exercise price of $0.15 per common share for a period of five years from the date of grant.

 

About SALi Lithium Corp.

SALi Lithium Corp. is a mineral exploration company dedicated to the discovery and development of lithium resources. The Company holds a controlling interest in the El Quemado Project, comprising 46 mining concessions totaling 58,290 hectares in Salta Province, Argentina. Additionally, the Company has a 100% interest in a 7,625-hectare lithium brine project in Huaytiquina, Salta, Argentina, and 34,442 hectares in the James Bay Region, Quebec, Canada which is well known for its potential to host lithium-bearing pegmatites.

On behalf of the Board of Directors,

Dustin Nanos

CEO and Director

1-587-577-9878
Email: Dustin@SouthAmericanLithium.com

Twitter: @Lithium_SALI

Website: www.SouthAmericanLithium.com

Forward-Looking Information and Statements

This news release contains forward-looking information or statements (collectively referred to herein as “forward-looking statements”). Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements and are not guarantees of the future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the Company’s control and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; and risks associated with potential governmental and/or regulatory action with respect to the Company’s operations. Readers are cautioned not to place undue reliance on forward-looking statements for the reasons outlined above, as the expectations in the forward-looking statements may prove to be incorrect, and actual results may differ materially from those anticipated.

The CSE has not reviewed, approved, or disapproved the contents of this press release.