Recharge Resources Ltd. announced that it has finalised negotiations to acquire the adjacent concession Pocitos II Lithium Brine Project ("Pocitos II") that covers 532 hectares increasing the Pocitos area project to a total of 1,332 hectares, located near Pocitos township in Salta Province, Argentina. The impetus to acquire the property came from the outstanding geophysics from the recent MT survey and the need to have a larger area to pump brine to its proposed Ekos Research Pty Ltd.'s EkosolveTM Technology ("EkosolveTM") direct lithium extraction ("DLE") lithium production system. The terms of the acquisition are: USD 25,000 cash payable to the Vendor on February 1, 2024; and USD 75,000 cash payable to the Vendor after three months from the date of the Purchase Agreement; and USD 700,000 cash payable to the Vendor after six months from the date of the Purchase Agreement.

An option has been provided to the Vendor for the Company to pay in lieu of cash, 20% (USD 140,000) in common shares of the Company to the Vendor at the vendor's discretion at a 10% volume-weighted average price ("VWAP") discount subject to a four-month restricted hold from the date of issuance (the "Terms"). This is another milestone in the Company's endeavour to build up to a 20,000-tonne DLE plant at the Pocitos project in order to supply Richlink Capital Pty Ltd. ("Richlink") clients up to 20,000 tonnes of lithium carbonate per year, as previously announced under a letter of intent of offtake.