Recharge Resources Ltd Ordinary Shares SLLTF

Recharge Resources Tax Structuring in Preparation for Drilli

[jrcomm]

VANCOUVER, British Columbia, July 27, 2022 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. ("Recharge" or the "Company") (RR: CSE) (RECHF: OTC)(SL5: Frankfurt) is pleased to announce the company has through its consultant Panopus Pte Ltd. is now structured for IVA tax settlement on its upcoming drill program at Pocitos 1 Lithium Salar in Salta, Argentina. Recharge is working closely with its in-country advisors on the single 400+ meter production diameter well which will be positioned to confirm the continuity of lithium brines delineated during previous drill campaigns for the establishment of a NI 43-101 compliant resource. The Company is preparing to lodge its own tax registration and mining company status applications.

CEO and director, David Greenway states, "Tax structuring is a crucial when hiring contractors, renting equipment, exploring and developing in the country of Argentina. We are moving forward quickly with our planned drilling at the Pocitos 1 lithium salar. As you can see from the video link above, and available on our website, the impressive flow rates were estimated upwards of 50,000 litres per min of lithium brine. With two existing drill holes in place, this new drilling will assist in establishing an NI 43-101 resource. We have benefitted greatly from an embedded geological and logistics team which has empowered us to truly hit the ground running."