Neo Lithium Corp. announced that Andina SA and Falcon Drilling, drill contractors for the Third Quarter Project, have completed the first two drill holes and preliminary geochemical results were received from Alex Stewart Laboratories ("ASL"), a third-party laboratory, from one drill hole. Drill hole PP1-R-2, located in the northern portion of the northern salar and south of the northern lithium brine reservoir, was designed to test the northern salar's sediment composition as well as the grade of the brine at depth. This hole went down approximately 80 metres and remains open at depth. The entire hole is composed of fine sands and fine sodium chloride layers. These sediments are typically very favorable hosts for brine due to their high porosity and permeability. The hole was finished with 2 inch diameter filters all the way to the bottom and packed with gravel, to create a well. The well was pumped at a rate of 25 metres3/hour to remove the drilling mud for 4 hours. No brine draw down was detected even at this high flow rate. Sampling was done with a pumping rate of 8 metres3/hour and 5 brine samples were collected over a period of 2 hours of pumping (one every 25 minutes approximately). The average lithium grade of the brine that was pumped was 766 mg/l. The lithium grade was 769 mg/l and the lowest was 764 mg/l. The magnesium/lithium ratio was 1.8. These results at depth are remarkably consistent with the surface results from the northern salar (32 samples in total) containing an average lithium concentration of 784 mg/l and 1.87 magnesium/lithium ratio. Further chemical analysis of the brine is pending. Drill hole PB1-R-1, located on the alluvial fan 1 km east of the northern brine reservoir (lake), was designed to test the extension of the brine found in the reservoir under the contiguous alluvial fan to the east, as identified by the previously disclosed geophysical results. The hole went down 120 metres and brine was identified below 40 metres depth. Chemical results for the hole are pending. These findings are important as they support the geophysical results that the lithium brine found in the northern reservoir extends beyond its surface manifestation under the large alluvial cone to the east. There is also a large alluvial cone to the west of the northern reservoir that remains to be tested. The company has recently contracted a third drill rig to ensure that the drill program is completed on time and to drill deeper in order to confirm the existence of deep porous layers identified by the geophysical results down to approximately 300m in certain areas of the northern target. The brine samples collected in the field were delivered by Company personnel to Andesmar Transport Company ("Andesmar") in La Rioja, in the province of Rioja. Andesmar delivered the samples by truck to ASL, an ISO 9001-2008-certified laboratory in Mendoza, Argentina. ASL used the following analytical methodologies: ICP-OES (inductively-coupled plasma-optical (atomic) emission spectrometry) to quantify boron, barium, calcium, lithium, magnesium, manganese, and potassium; an argentometric method to assay for chloride; a gravimetric method to analyze for sulfate; a volumetric analysis (acid/base titration) for the evaluation of alkalinity (as CaCO3); a gravimetric method to determine density and total dissolved solids; and, a laboratory pH meter to determine pH. All analytical work is subject to systematic and rigorous Quality Assurance-Quality Control. A reference ("standard") sample was inserted into the sample stream at a frequency of approximately 1 in 15 samples; a field blank was inserted at a frequency of approximately 1 in 15 samples; and a field duplicate sample was inserted at a frequency of approximately 1 in 15 samples.