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Commences Trading on the OTCQB and Provides Corporate Update

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https://www.globenewswire.com/news-release/2022/01/07/2363143/0/en/Arena-Minerals-Commences-Trading-on-the-OTCQB-Market-in-the-United-States-Under-the-Trading-Symbol-AMRZF-and-Provides-Corporate-Update.html

Arena Minerals Commences Trading on the OTCQB Market in the United States Under the Trading Symbol “AMRZF” and Provides Corporate Update

January 07, 2022 at 08:55 ET | Source: Arena Minerals Inc.

TORONTO, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Arena Minerals Inc. ("Arena" or the "Company") (TSX-V: AN) is pleased to announce that the Company’s common shares commenced trading today on the OTCQB market under the symbol "AMRZF." Arena Minerals will continue to trade on the TSX Venture Exchange under the symbol "AN."

"We are pleased to begin trading on the OTCQB as a means of enhancing our visibility to prospective U.S. investors," commented Will Randall, Arena's President and CEO. "We believe the benefits are twofold; greater accessibility to an expanding shareholder base in the United States, and enabling greater exposure and liquidity as we continue to advance our lithium project, Sal de la Puna in Argentina."

Current financial disclosures and Real-Time Level 2 quotes for the Company are available at https://www.otcmarkets.com/stock/AMRZF.

Further, the Company announces that it has granted 5,300,000 incentive stock options to directors, officers, employees and consultants of the Company. The option to purchase common shares in the capital of the Company, at a price of $0.50 per common share, will be for a period not exceeding 5 years. The stock options vested immediately and have been granted under the terms of the Company’s stock option plan. The closing price of the Company’s common shares on December 30, 2021, the date of the grant of the stock options, was $0.50 per common share.

About Arena Minerals Inc.

Arena owns 65% of the Sal de la Puna Project covering approximately 11,000 hectares of the Pastos Grandes basin located in Salta, Argentina. The claims are highly prospective and share the basin with two advanced lithium brine projects. In addition to Sal de la Puna, the Company owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation's Antofalla project. Arena has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products.

Arena also owns 80 percent of the Atacama Copper property within the Antofagasta region of Chile, and 5.8 million shares of Astra Exploration. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district.

For more information regarding the Company, its management, expertise, and projects, please visit www.arenaminerals.com. An email registration allowing subscribers to directly receive news and updates is also available on the website.

The technical information contained in this news release has been reviewed and approved by William Randall, P.Geo, who is a Qualified Person as defined under NI 43-101. Mr. Randall is a director and is the Chief Executive Officer and President of Arena.

For more information, contact William Randall, President and CEO, at [phone] or Simon Marcotte at [phone] or [e-mail].

On behalf of the Board of Directors of: Arena Minerals Inc.

William Randall, President and CEO