Arena Minerals Inc. ("Arena" or the "Company") announced that the Company has received written confirmation from GFL International Co. Ltd. a 100% subsidiary of Ganfeng Lithium Co. (collectively "Ganfeng") that Ganfeng is exercising its previously announced project participation right to acquire a 35% interest in the Sal de la Puna lithium brine project ("SDLP" or the "Project"). Ganfeng has also elected to exercise its right to appoint a member to the Board of Directors of Arena. Ganfeng has nominated Mr. Sam Pigott to join the Board. Mr. Pigott is currently Head of Business Development, North America for Ganfeng Lithium.