Lithium Energi Exploration Inc. announced that it has entered into a joint venture agreement ("JV Agreement") with Global Oil Management Group, LLC. ("GOMG") GOMG will provide capital for the exploration and development of approximately 20% (the "JV Concessions") out of a total 72,000 hectares of prospective lithium mining claims owned by LEXI in the province of Catamarca, Argentina. The JV Agreement requires the creation of a new Argentine company (the "JV Company") that will hold the JV Concessions. GOMG will be the majority owner of up to 80% of the JV Company and LEXI will own a "non-dilutable minority interest" of no less than 20% of the JV Company. At its discretion, LEXI will have the option to convert its equity holdings in the JV Company into a 6% gross royalty on future production from the JV Concessions. The JV Agreement requires GOMG to provide up to USD 3,000,000 in funding to cover exploration costs on the JV Concessions and to develop a full NI 43-101 resource estimate within three years of the execution of the JV Agreement and pay LEXI a USD 500,000 cash fee upon executing the JV Agreement. In addition to the exploration funding, subject to economic suitability, GOMG will be responsible, at its discretion, to provide all funding to construct and operate a lithium extraction facility to exploit the lithium-bearing brine located under the JV Concessions.