NOA Lithium Announces Closing of Chascha Norte Acquisition on the Arizaro Salar

BUENOS AIRES, August 28, 2023 - NOA Lithium Brines (TSX-V:NOAL)(FSE:N7N) ("NOA" or the "Company") is pleased to announce that, further to its news release dated May 9, 2023, the Company has received final approval from the TSX Venture Exchange for acquisition of 100% interest in the Nevasca Project (legally referred to as the "Chascha Norte" claim), located on the Arizaro salar in Salta Province, Argentina, adjacent to the Company's existing claims block (the "Arizaro Project") as shown in Figure 1 below. The Nevasca Project covers 2,842 hectares (28 square-kilometers) and is already permitted for advanced exploration drilling. Aggregate consideration paid by the Company to the vendors shall be US$950,000 in cash and US$1,050,000 in common shares of the Company, over a period of 18-months from the date of execution of the purchase agreement. Each payment of shares will be issued at the greater of the previous days' closing market price of the Company's shares or CDN $0.30 per share, further details regarding the transaction are set forth in the Company's news release dated May 9, 2023, which is available on the company's website (www.noalithium.com/news) or under the Company's SEDAR profile at www.sedarplus.ca.

About NOA Lithium Brines Inc.

NOA is a lithium exploration and development company formed to acquire assets with significant resource potential. All NOA's projects are in the heart of the prolific Lithium Triangle, in the mining-friendly province of Salta, Argentina, near a multitude of projects and operations owned by industry leaders. NOA has rapidly consolidated one of the largest lithium brine claim portfolios in this region that is not owned by a producing company, with key positions on three prospective salars (Rio Grande, Arizaro, Salinas Grandes) and a total portfolio of approximately 100,000 hectares.

On Behalf of the Board of Directors,

Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director

For Further Information
Website: www.noalithium.com
Email: info@noalithium.com
Telephone: 416-568-1027

Figure 1: Plan map showing NOA's Claims at the Arizaro Project, including the Newly-Acquired Chascha Norte Claim (Nevasca Project)

Cautionary Note Regarding Forward-Looking Statements

This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking statements. Forward-looking statements including, but not limited to NOA's future plans and objectives regarding its projects, which constitute forward looking information that involve various risks and uncertainties. Although NOA believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. NOA does not assume any obligation to update any forward-looking statements except as required under applicable laws.

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

SOURCE: NOA Lithium Brines Inc.