Neo Lithium Corp. announce that as a result of the current drilling program it has successfully intercepted a new deep brine aquifer, located outside the area which resulted in the Company's "Updated Mineral Resource Estimate Technical Report on the Third Quarter Lithium Project, Catamarca Province, Argentina" prepared by Groundwater Insight Inc. with an effective date of August 14, 2018. The well PP1-R-26 is located off-strike and approximately 250 meters east of the Third Quarter Project lake (in the alluvial fan) outside the previous resource volume that ended at the rim of the Third Quarter Project lake. Brine was found in the sediments at 11 meters deep all the way to the bottom of the well at 362 meters deep. This is the deepest well drilled in the northern high-grade sector of the deposit and is also outside of the previous resource estimate calculation. As a remainder the previous resource estimate high-grade zone in the northern portion of the Salar only went down to 100 meters. The rocks found in the hole are interlayered sands, gravel, and clays from surface to 264 meters and coarse sand from 264 to 362 meters. This lower brine aquifer made of coarse sand that runs at depth is new and had not been detected in previous drilling of the high-grade zone because the deepest hole in the north was PP1-R-25 that went to a depth of 268 meters. PP1-R-26 was finished with blind casing with cement and clay pellets from surface to 264 metres to isolate the upper known aquifers from the lower aquifer of the well, and eight inches PVC screen from 264 metres to 362 metres. The well was pumped for 24 hours at 30m3 per hour, and the following 24 hours at 40m3 per hour to collect six brine samples, one every six hours approximately. The flow at the well has been strong, with very little depression of the brine water table even at those high pump rates. The Company is currently working towards completing a piezometer numbered PP1-D-26 to be able to run pump tests in this new deep aquifer. Well number PP1-R-24 expanded this high-grade zone to 167 meters deep, well number PP1-R-25 expanded the high-grade zone to 268 meters deep and now PP1-R-26 expanded the aquifer down to 360 meters deep. In light of this discovery, the Company has engaged Groundwater Insight Inc. as an independent contractor to work on a new resource estimate using the results from the three new wells. The Company anticipates these results, which were not included in the previous resource estimate, will have a positive impact in the new resource estimate. The Company anticipates the new resource estimate to be announced in the second quarter of 2021, as chemical results arrive for this new well (PP1-R-26) and a new volume is already being measured taking into account the new holes that intercepted mineralization. For reference, results of wells 24 and 25 were: PP1-R-24 run from 0-167 meters with 1,128 mg/l Li, PP1-R-25 run from 90-268 meters with 1,117 mg/l Li, PP1-R-26 will test the deeper aquifer that runs from 260 to 360 meters deep (results pending).