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ABOUT LEXI

Lithium Energi Exploration, Inc. (TSX.V:LEXI) is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange. The Company recently completed acquisitions of three Argentine corporations, Lithium Energi Argentina, S.A., Antofalla North, S.A., and Antofalla South, S.A., which together hold a portfolio of projects comprising more than 128,000 hectares of prime lithium brine concessions in the Argentina Province of Catamarca – right in the heart of the lithium triangle.

“We expect sales of electric and hybrid vehicles to push lithium demand growth 16 percent annually over the next decade, faster than almost any other major commodity over the past century, from about 175,000 metric tonnes in 2015 to about 775,000 by 2025.”

David Wang, March 24 2017

Morningstar Analyst

PRIME ASSETS IN BETWEEN THE MAJORS

OUR PROPERTIES

LEXI owns three, distinct project areas, specifically the Laguna Caro Project area, the Antofalla North Project area, and the Antofalla South Project area.  Collectively, it controls 128,367 hectares of mining properties in and around the Antofalla Salar. These properties host brines containing elevated concentrations of lithium, potassium, and boron. The project areas are located about 375 km NW of San Fernando del Valle de Catamarca, in Catamarca Province in the High Cordilleran Andes. LEXI has combined 39 individual mineral concessions into these three projects – the Laguna Caro area (17,759 ha), the Antofalla North area (41,496 ha), and the Antofalla South area (69,112 ha). Of the 8 concessions in the Laguna Caro Project, the easternmost border is about 7 km east of FMC Lithium’s operation at Salar del Hombre Muerto (“SHM”) and the westernmost claim in this group is located about 13 km east of the Salar de Antofalla (“Antofalla”). The Antofalla North Project is situated about 13 km W of western edge of the Laguna Caro claim group, beginning with its northernmost concessions that border the Salta Province and extending SSW for about 30 km through 13 semi-contiguous claims that end at the northern border of a large concession block that is owned by Albemarle Corporation (NYSE: ALB), which occupies the center portion of the Antofalla salar. The Antofalla South Project extends SSW through 18 concessions, starting with claims that abut the southern boundary of the Albemarle concession block and extend for a distance of about 50 km to the southernmost concession in this group of claims, which is located about 130 km SSW of SHM.

WHY LITHIUM?

Demand for lithium, driven by use in rechargeable batteries, is mushrooming.  That growing demand is projected to soon outpace global production. As the demand has increased, lithium prices have skyrocketed in just 7 years. Also, as the demand has  increased, the costs of battery manufacturing has  plummeted, which has further propelled demand.    New lithium-ion battery factories are being built all over the world to keep pace with the rapidly increasing usage of lithium, the most effective chemistry for storage of electricity. The meteoric growth in worldwide cell phones has played a role, but the biggest drivers fueling the current spike in lithium demand are  (1) electric vehicles and (2) new power storage systems for residential and commercial use.

PROPERTY HIGHLIGHTS

IMPRESSIVE PROPERTY PACKAGE

  • Size – over 128k ha (< 315,000 acres)
  • Initial testing – Li content, multiple areas
  • Multiple salars, geologically related

DESIRABLE LOCATION

  • Mining-friendly province, ready to grow
  • Next to world leaders in Li production
  • All weather roads, access to paved roads
  • Room for infrastructure and ponds
  • Access to knowledgeable work force

IDEAL CHEMISTRY - THE RIGHT WATERS

  • Testing indicates boron, potassium, and other commercial minerals are present
  • High grade brine; low magnesium ratio
  • Sites are replenished by aquifers
  • Access to fresh water
  • Low environmental impact

VIABLE ECONOMICS – COULD BE VAST

  • NI 43-101 report suggests potential economic viability, subject to testing.
  • Initial Li estimates suggest total reserves could calculate in the millions of tons.
  • Compared to most peers, LEXI’s acquisition cost per hectare is less, while the quantity and diversity of its salar potentials are greater.

OUR TEAM

Steven C. Howard - CEO.

Mr. Howard has provided M&A consulting for, and held senior management positions with, public and private companies, concentrating on natural resource development and environmental strategies with mezzanine funding of up to $50MM per project.  He has owned a Dallas-based energy and technology consulting firm for 40 years and has served as President of several E&P firms in the energy industry during the past 20 years. He was formerly CEO of a NASDAQ traded resource development company in the recycling sector and received the EPA Administrator’s Award for excellence in environmental achievement. He has managed aggregate investments of over $100MM in capital for resource and tech start-ups. An alum of the University of Texas at Austin, he is bilingual (Spanish) and has served 20 years on the Board of Dallas Children’s Charities, which provides over a million dollars a year in donations to better the lives of more than 150,000 disadvantaged youth in North Texas. He lives in Dallas, Texas.

Omar E. Ortega, MBA – V.P. South America.

A native of Argentina, Mr. Ortega has enjoyed an extensive career in international investment banking and project finance, supervising investments of more than $125MM in equity funding.  He served 8 years as Director General for Mexico of Inter-American Holdings, LLC, a merchant bank partner with Bank of Montreal and was formerly Director of Corp. Development for Viad Corporation (formerly, The Dial Corporation), where he supervised M&A in Southern Europe. He also served as Senior Risk Analysis Officer for Bank of America, where he analyzed the most complex credits offered by the bank, directing analytical training, and enhancing interest risk measurement systems. Mr. Ortega received his MBA in Finance from Washington State University Graduate School of Business (1988).  Fluent in English and Spanish, he resides in Dallas, Texas.

Miles Rideout, B.Sc. – Director of Exploration.

Mr. Rideout has over 30 years of experience in advanced exploration practice, responsible business management, scientific team building, safe work practices, and integration with local communities and indigenous peoples, including direct engagement with shareholders and investor relations. He served 5 years as CEO of Latin American Minerals, Inc. (LAT.V), advancing gold and diamond projects in Paraguay and more than 23 years with Quantec Geoscience, Inc., where he initiated operations, and founded and managed numerous South American subsidiaries. He has extensive experience in mine permitting, financing, construction, and operation (implemented the first operating mine in Paraguay), deep expertise with all major geophysical technologies applied within the mining industry, and decades of experience working with many of the most successful exploration teams in South America. He participated in the discovery of several world-class deposits including the Collahuasi and Ujina copper-porphyry deposits, Veladero epithermal gold deposit, and Navidad VMS/epithermal silver deposit. Mr. Rideout holds a B.Sc. in Geophysics with Honors from U. of Western Ontario (1987). Fluent in English and Spanish, he has lived in Mendoza, Argentina for over 20 years.

Christopher J. Hobbs – CFO.

Mr. Hobbs serves as CFO and/or Secretary for numerous private and public firms. He has extensive experience in equity financing for mining and oil and gas companies listed on the TSX and has provided M&A services for scores of clients in the mining, oil and gas, and technology sectors. Mr. Hobbs is a member of the Chartered Accountants of Ontario and holds a Bachelor of Business Administration Degree from the Schulich School of Business at York University. He lives in Toronto, Canada.

Carlos Villagra – Argentina Operations Mgr.

Sr. Villagra is the Marketing Manager for Valley Consultants in Catamarca, where he provides consultation to clients in the construction and mining sectors. He is skilled in courthouse land services, project planning, procuring investments, and bid preparation and solicitation. he was a Founding Partner in the Foundation for Regional Economies for Catamarca and the Director of National Programs for the Municipality of Valle Viejo, Catamarca Province. He was Development Manager for TOTALGAZ during its implementation of experimental extraction technologies and has over 10 years of experience in executing projects for acquisition of mining concessions and oil and gas exploration throughout the northwestern Argentina. He lives in Catamarca, Argentina.

Dr. Gerardo Romero A. – Argentina Sr. Counsel.

Sr. Romero is a noted legal and business advisor, as well as a registered public notary, in and for Catamarca Province.  He has served as legal counsel for a wide range of clients – from large, multinational corporations to small, regional companies to governmental institutions, including Coca Cola Argentina, OSDE, Industrial Union of Argentina, and the Catamarca Chamber of Construction.  He is a Faculty Member in the Department of Real Property Rights at the National University of Catamarca and is the former Government Secretary for the regional Municipality of Recreo.  He also previously served as Legal Advisor for the Chamber of Deputies for Catamarca Province. He is Counselor Honorarium for several NGOs in Argentina and for the Catamarca College of Dietitians.  He owns a diverse portfolio of real estate assets and has specialized expertise in the Catamarca mining industry. He lives in Catamarca, Argentina.

ADVISORY BOARD

Ing. Nivaldo Rojas

Ing. Rojas has over 50 years experience in exploration, generation and management of mining projects, teaching and training of professionals, negotiation of mining properties, environmental studies, and safety control of mining operations. He has a wide knowledge of Andean geology and associated mineral deposits. He has organized over 50 exploration teams for precious metals in Argentina, Chile, Bolivia, and is credited with important discoveries, like porphyry copper deposits in Chile (La Escondida, Taca Taca, Agua Rica and Argentina (Los Azules, Diablillos). He founded Rojas & Asociados Group, a mining consulting and exploration firm in 1998 and has participated with numerous other firms focused on exploration, mine development, mining services, and mining promotion. He has been President of Argentina Mining S.A. since 2002, promoting mining conferences and training throughout South America. He previously served with BHP Minerals (now BHP Billiton) for 18 years with last position as Exploration Country Manager and Legal Representative for BHP in Argentina and had early career service with Chilean Instituto de Investigaciones Geológicas. He is a degreed Mining Engineer with honors from the University of Atacama, Chile. Ing. Rojas is a member of the Chilean Institute of Mining Engineers (IIMCH), a founding member of GEMERA (Group of Mining Exploration Companies of Argentina), and Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). In 1995, Mr. Rojas received the “Excellency in Exploration Award” from BHP.

Dra. Teresita Regalados

Dra. Regalados has been a Member of the Faculty of Technology and Applied Sciences, National University of Catamarca (UNCa) since 1994, and is Adjunct Professor and Chair of the Environmental Impacts Mining Division under Mine Engineering Department for teaching and continued research.  She is the former Director of Institute of Mining Research IDIM in Technology and Applied Sciences at UNCa and a former Director for Provincial Environmental Mining Management Division at DiPGAM, a division of the Mining Secretary for Catamarca Province. She was a member of technical team for 12 years at Ministry of Mining, evaluating environmental impacts, controls, inspections, monitoring, and environmental audits, and was formerly a Director for seven years with the Mining Police under the Provincial Mining Directorate. She is a Fellow in the National Atomic Energy Commission (CNEA) at the San Rafael-Mendoza Mining Complex. Dra. Regalado holds a B.S, as a Mine Engineering from UNCa (1999) and completed her M.Sc. in Conservation and Environmental Management at UNCa in 2007. She resides in Catamarca, Argentina.

Other Staff and Advisors

The company’s principals enjoy strong relationships with many highly experienced and influential persons, in both private and governmental sectors in the Catamarca region, whose expertise will add to the company’s team and mission when, and as, needed. The company is also honored to have numerous advisors in both North and South America with great experience in mining, chemistry, and public company administration. It plans to expand is Advisory Board in the near future.

NEWS RELEASES

May 11, 2017 Lithium Energi Exploration, inc. Secures exclusive right To acquire over 100,000 ha. of additional properties

May 11, 2017 – Toronto, Ontario.  Lithium Energi Exploration, Inc. (TSX Venture: LEXI) (“LEXI” or the “Company”) is pleased to announce that it has secured an exclusive right of first refusal (“ROFR”) to acquire from Resource Ventures S.A. (“ReVe”) over 100,000 hectares of prospective lithium brine properties in the province of Catamarca, Argentina. The ROFR gives LEXI rights to acquire approximately 42,000 hectares of lithium brine prospects located in the Salar de Antofalla and approximately 60,000 hectares in the Salar de Pipanaco.  In the Antofalla salar alone, these acquisitions would increase LEXI’s holdings to over 152,000 hectares and expand its total lithium brine prospects in Argentina to more than 230,000 hectares.

Salar de Antofalla (“Antofalla”)

Located less than 20 km west of FMC Corp.’s lithium operation (Argentina’s largest lithium producer) in northern Catamarca Province, Antofalla hosts one of the largest basins in the region.  It is over 130 km long and varies between 5 and 20 km across. On September 12, 2016, Albemarle Corp., the world’s largest producer of lithium, announced its acquisition of exclusive exploration and acquisition rights to a claim block located in the center section of this salar. At that time, Albemarle stated its belief that Antofalla will be certified as the largest lithium resource in Argentina. It acquired its claim block from Bolland Minera S.A., a large, private mining firm with operations in multiple countries. Bolland has also obtained substantial claim blocks in Antofalla, establishing a major position in this prospectively valuable resource.

In 2016, Roskill information Services reported that Bolland had drilled 56 boreholes over 265km2 and defined a resource of 83mt of potash (KCl) grading 6,400mg/l and 2.22mt of lithium (11.8mt LCE) grading 350mg/l.  Drilled between 2008 and 2011 in the section now owned by Albemarle, Bolland’s test wells were completed in conjunction with the Institute of Mineral Resources for the National University of La Plata in Buenos Aires. Well logs, permeability, hydraulic gradient, core sample chemistry, and gravimetric studies published during that period indicated substantial values for lithium and potassium continuously observed from the surface down to a depth of over 500 meters, suggesting that Antofalla is one of the deepest basins in the region.  “As suggested in Bolland’s tests, subsurface brines in regional salars can be quite uniform across a salar’s associated basin and we expect to see similar circumstances as we drill and explore LEXI’s properties in this immense Antofalla basin”, stated Miles Rideout, LEXI’s Director of Exploration.

Salar de Pipanaco (“Pipanaco”)

The ROFR claims in Pipanaco consist of over 60,000 hectares covering more than 85% of this salar, which is located approx. 50 km due west of Catamarca city.  The properties are in early exploration with minimal surface samples being collected to date.  This salar was drilled more than ten years ago in a program for the federal government of Argentina to identify new sources of fresh water.  Based on those drilling reports, the Company believes that these Pipanaco holdings, which are located at only 700-750 meters above sea level, could represent a very favorable site for a lithium extraction facility, as well as being a potential location to create a regional lithium processing facility located less than a two-hour drive from Catamarca city.

The ROFR provides LEXI with a 12-month period of exclusivity during which it intends to pursue suitable terms and conditions pursuant to which it may acquire one or both of the projects presently owned by ReVe in Argentina.  If exercised, the Company’s prospective lithium properties would increase from its present holdings of over 128,000 hectares to greater than 230,000 hectares in the Catamarca Province.

“The future success of lithium producers will, in part, be driven by the location and value of a company’s reserves, so when our Board requested we enhance LEXI’s holdings by including other strategic properties acquired before the new management team joined LEXI, this ROFR was secured to emphatically affirm our dedication to growing reserve values that will strengthen the Company and benefit our shareholders”, noted LEXI’s CEO, Steven Howard.

ReVe is controlled by Steven Howard and Omar Ortega, who are both shareholders and officers of LEXI. The properties were acquired by ReVe, and were known to LEXI’s Board of Directors, prior to Mr. Howard and Mr. Ortega joining LEXI in April, 2017.  Any agreement to acquire these assets would be a non-arms-length transaction subject to approvals by both the TSX Venture Exchange and LEXI’s shareholders and to other conditions customary in transactions of this nature.

The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo., a consultant of the Company, and a qualified person as defined by National Instrument 43-101.

About Lithium Energi Exploration, Inc.

Lithium Energi Exploration, Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSXV:LEXI). The Company recently completed the acquisition of a portfolio of projects comprising over 128,000 hectares of lithium brine concessions in the Argentina Province of Catamarca in the heart of the lithium triangle.

ON BEHALF OF THE BOARD OF DIRECTORS

“Chris Hobbs”

Chris Hobbs,

Chief Financial Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

April 25, 2017 Lithium Energi adds to management team, appoints Miles Rideout as director of exploration.

April 25, 2017 – Toronto, Ontario.  Lithium Energi Exploration, Inc. (TSX Venture: LEXI) (the “Company”) is pleased to announce the appointment of Miles Rideout as Director of Exploration for the Company.

Mr. Rideout has over 30 years of experience in advanced exploration practice, responsible business management, scientific team building, safe work practices, and integration with local communities and indigenous peoples, including direct engagement with shareholders and investor relations. He served 5 years as CEO of Latin American Minerals, Inc. (LAT.V), advancing gold and diamond projects in Paraguay and more than 20 years with Quantec Geoscience, Inc., where he initiated operations and managed numerous South American subsidiaries. He has extensive experience in mine permitting, financing, construction, and operations (implemented the first operating mine in Paraguay). In addition, Mr. Rideout has deep expertise with all major geophysical technologies applied within the mining industry, and decades of experience working with many of the most successful exploration teams in South America. He participated in the discovery of several world-class deposits including the Collahuasi and Ujina copper-porphyry deposits, Veladero epithermal gold deposit, and Navidad VMS/epithermal silver deposit. Mr. Rideout holds a B.Sc. in Geophysics with Honors from U. of Western Ontario (1987). Fluent in English and Spanish, he has lived in Mendoza, Argentina for over 20 years.

About Lithium Energi Exploration, Inc.

Lithium Energi Exploration, Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSXV:LEXI). The Company recently completed the acquisition of a portfolio of projects comprising over 128,000 hectares of lithium brine concessions in the Argentina Province of Catamarca in the heart of the lithium triangle.

 

ON BEHALF OF THE BOARD OF DIRECTORS

“Chris Hobbs”

Chris Hobbs,

Chief Financial Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

April 17, 2017 Lithium Energi grants stock options

TORONTO, ONTARIO–(Marketwired – April 17, 2017) – Lithium Energi Exploration Inc. (TSX VENTURE:LEXI) (“LEXI” or the “Company”) announces it is granting 3,000,000 incentive stock options to certain officers, directors, consultants, and employees of the Company to purchase up to a total of 3,000,000 common shares of the Company at a price of $0.25 per common share for a period of three years.

The stock options are subject to the terms of the Company’s stock option plan and regulatory approval.

About Lithium Energi Exploration, Inc.

Lithium Energi Exploration, Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSX VENTURE:LEXI). The Company recently completed the acquisition of Lithium Energi Argentina, S.A., Antofalla North, S.A., and Antofalla South, S.A., which together hold a portfolio of projects comprising 128,000 hectares of lithium brine assets in the Argentina Province of Catamarca in the heart of the lithium triangle.

ON BEHALF OF THE BOARD OF DIRECTORS

“Chris Hobbs”

Chris Hobbs,

Chief Financial Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

April 12, 2017 Lithium Energi Exploration, Inc. Adds to Management Team

TORONTO, ONTARIO–(Marketwired – April 12, 2017) – Lithium Energi Exploration, Inc. (TSX VENTURE:LEXI) (“LEXI” or the “Company”) is pleased to announce the appointment of Steven C. Howard as Chief Executive Officer of the Company. In addition to the role of Chief Executive Officer, Mr. Howard will serve as a director on the Company’s Board.

Prior to joining LEXI, Mr. Howard has owned his own Dallas-based consulting firm for over 30 years providing advice to clients on energy and technology projects. Mr. Howard was one of the co-owners of LEXI’s recently acquired Argentina lithium assets and as a result of the transaction, Mr. Howard owns or controls 8,400,000 common shares of LEXI representing 17.9% of the Company’s outstanding common shares. Since 2004, Mr. Howard served as President of Earthwise Energy, Inc. (“EEI”), a Dallas-based E&P company in the oil and gas sector, spearheading its shareholder base, field operations, and E&P investments, which accumulated over 20bcf of proven reserves. During the past 40 years of his marketing and administrative experience, Mr. Howard has provided merger/acquisition advisory services for, and has held senior management positions with, both public and private companies, concentrating on natural resource development and environmental sector strategies with mezzanine funding of up to $50mm per project, including supervision of multiple mining properties early in his career. During his prior service as CEO of a NASDAQ-traded resource management firm in the recycling industry, he received the EPA Administrator’s Award for environmental excellence. Mr. Howard’s entrepreneurial skills also include exceptional writing and translation expertise with Spanish as his second language. For the past 20 years, Mr. Howard has served as a Director of Dallas Children’s Charities, a regional 501(c)(3) non-profit corporation that contributes over a million dollars per year to improve the lives of more than 150,000 disadvantaged youth in North Texas. He resides in Dallas, Texas.

Also joining LEXI’s management team as Vice President for South American Operations is Mr. Omar E. Ortega. A native of Argentina, Mr. Ortega was also a co-owner of LEXI’s recently acquired Argentina lithium assets and as a result of the transaction, Mr. Ortega owns or controls 5,300,000 common shares of LEXI representing 11.3% of the Company’s outstanding common shares. Mr. Ortega has an extensive career in international investment banking and project finance, supervising investments of $125mm in equity funding. He served for 8 years as Director General for Mexico of Inter-American Holdings, LLC, a merchant bank partner with Bank of Montreal. He was formerly the Director of Corporate Development for Viad Corporation (fka The Dial Corporation), supervised M&A in Southern Europe. Previously, he was the Senior Risk Analysis Officer for Bank of America, where he analyzed the most complex credits offered by the bank, directed analytical training, and enhanced interest risk measurement systems. Mr. Ortega received his MBA in Finance from Washington State University Graduate School of Business. He is fluent in English and Spanish and resides in Dallas, Texas.

Mr. Michael Denny, the Company’s former CEO, will resign and also step down from the Board of Directors to pursue other opportunities. The Company would like to thank Mr. Denny for his prior service.

In addition, LEXI is pleased to announce it has retained Renmark Financial Communications Inc. (“Renmark”) to handle its investor relations activities. In consideration of the services to be provided, the fees incurred by Lithium Energi Exploration, Inc. will be cash consideration of $7,000 per month, starting March 1, 2017 for a period of six months ending on August 31, 2017 and month-to-month thereafter. Renmark does not have any interest, directly or indirectly, in Lithium Energi Exploration, Inc. or its securities, or any right or intent to acquire such an interest.

About Lithium Energi Exploration, Inc.

Lithium Energi Exploration, Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSXV:LEXI). The Company recently completed the acquisition of Lithium Energi Argentina, S.A., Antofalla North, S.A., and Antofalla South, S.A., which together hold a portfolio of projects comprising over 128,000 hectares of lithium brine concessions in the Argentina Province of Catamarca in the heart of the lithium triangle.

ON BEHALF OF THE BOARD OF DIRECTORS

Chris Hobbs, Chief Financial Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

March 22, 2017 Portola Resources, Inc. Closes Acquisition of 128,000ha of Argentina Lithium Assets and Announces Name Change to Lithium Energi Exploration, Inc.

TORONTO, ONTARIO–(Marketwired – March 22, 2017) – Portola Resources, Inc. (TSX VENTURE:PZ) (“Portola” or the “Company”) is pleased to announce that pursuant to a resolution passed by the board of directors on March 17, 2017, the Company changed its name to Lithium Energi Exploration, Inc. (“LEXI”) (TSX VENTURE:LEXI). In addition, the Company has completed the previously announced acquisitions of all the issued and outstanding share capital of Lithium Energi Argentina, S.A. (“LEA”), Antofalla North, S.A. (“AN”), and Antofalla South, S.A. (“AS”), which together hold a combined portfolio of projects comprising 128,367 hectares of lithium brine assets in the Argentina Province of Catamarca in the heart of the lithium triangle.

All documentation submitted has been accepted for filing by the TSX Venture Exchange and common shares of the Company will resume trading on Friday March 24th, 2017 under the symbol “LEXI”. The new CUSIP number is 53680T102 and the new ISIN number is CA53680T1021. There is no consolidation of share capital.

The acquisition was completed pursuant to a Letter of Intent executed by the Company, LEA, AN, and AS, as announced in the Company’s news release dated December 6, 2016.

LEA, AN, and AS are wholly-owned subsidiaries of LEXI. LEA owns mining rights to eight (8) concessions representing 17,759 hectares (“Laguna Caro Project”); AN owns mineral rights to thirteen (13) concessions representing 41,496 hectares (“Antofalla North Project”); and AS owns mining rights to eighteen (18) concessions representing 69,112 hectares (“Antofalla South Project”). In consideration for all of the outstanding share capital of LEA, AN, and AS, the Company issued 1,000,000, 8,450,000, and 11,550,000 common shares of the Company, respectively and finder’s fees of 1,150,000 common shares issued in relation to the acquisitions. In addition, the Company will assume the respective obligations of LEA, AN, and AS in respect of the three project areas. In order to complete the acquisitions of the Laguna Caro, Antofallo North, and Antofalla South Projects, the Company will be required to complete cash payments of US$650,000, US$761,000, and US$1,267,000, respectively payable over a twelve (12) month period and the Company will reimburse (as down payments and other expenses) a total of $313,444.

Located in close proximity to each other, all three Projects represent almost 130,000 hectares located in the lithium-prolific, northwestern quadrant of Catamarca Province. Located less than 10 km northeast of the Laguna Caro Project, FMC Corp. operates its Fenix mine at Salar de Hombre Muerto – Argentina’s largest lithium extraction operation and one of the largest such operations in the world.

The Antofalla North and South Projects are located just west of the Laguna Caro Project, in the northern and southern portions of the Salar de Antofalla, covering approximately 110,000 hectares. On September 12, 2016, Albemarle Corporation, the world’s largest lithium supplier, announced it had entered into an agreement with Bolland Minera, S.A. for the exclusive exploration and acquisition rights to a lithium resource in the central portion of the Antofalla salar. In Albemarle Corporation’s news release it stated their belief that the Salar de Antofalla lithium resource will be certified as the largest lithium resource in Argentina.

About Lithium Energi Exploration, Inc.

Lithium Energi Exploration, Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSX VENTURE:LEXI). The Company recently completed the acquisition of Lithium Energi Argentina, S.A., Antofalla North, S.A., and Antofalla South, S.A., which together hold a portfolio of projects comprising 128,000 hectares of lithium brine assets in the Argentina Province of Catamarca in the heart of the lithium triangle.

ON BEHALF OF THE BOARD OF DIRECTORS

Chris Hobbs, Chief Financial Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

CAPITAL STRUCTURE (CAD)

$0.20

RECENT SHARE PRICE

46.88M

Shares Outstanding

$9.4M

Market Cap

48.93M

Fully Diluted

Commerce Court North
25 King Street West, Suite 2900
Toronto, Ontario, Canada M5L 1G3

Canada Phone: 647.794.6689
USA Phone: 214.353.0606

request@lithiumenergi.com
http://lithiumenergi.com

FORWARD LOOKING & CAUTIONARY STATEMENTS

Except for the statements of historical fact contained herein, the information presented in this website and the information incorporated by reference herein, constitutes “forward looking information” within the meaning of applicable Canadian securities laws concerning the business, operations and financial performance and condition of Lithium Energi Exploration, Inc. (“the Company”). All statements, except for statements of historical fact, that address activities, events or developments that management of the Company expects or anticipates will or may occur in the future including such things as future capital expenditures (including the amount and nature thereof), business strategies and measures to implement strategies, competitive strengths, goals, expansion and growth of the business and operations, plans and references to the future success of the Company, and such other matters, are forward looking statements. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mining development, actual results of exploration activities, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of metal, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, risks related to the integration of acquisitions, as well as risks and uncertainties discussed in the latest Management Discussion and Analysis Reports and Financial Statements (refer to Company filings on www.sedar.com).  Shareholders are cautioned not to place undue reliance on forward looking information. The Company undertakes no obligation to update any of the forward looking information in this presentation or incorporated by reference herein, except as otherwise required by law.