Origen Resources Creates Advisory Board, and Announces Financing
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604-681-0221
www.origenresources.com
Origen Resources Creates Advisory Board, and
Announces Financing
Vancouver, B.C. — February 21, 2023 — Origen Resources Inc. (the “Company” or “Origen”) (CSE:ORGN;
FSE:4VXA) a rapidly emerging lithium exploration and project generating company, is pleased to announce it
has created an Lithium Advisory Board to assist in the further development of the Company. Origen welcomes
Gabriel Pindar, Dr. David Shaw, Neil Stuart , and George Cumplido as the founding members of this Advisory
Board.
Mr. Gabriel Pindar was co-founder and COO of Neo Lithium, which was acquired by Zijin Mining for $960 Million.
Neo Lithium’s sole asset was the 3Q lithium carbonate project in Argentina, which is forecasted to start
production at the end of this year. Previously he served as GM and Head of Projects for ArcelorMittal Group,
Deputy Project Director for BHP’s Olympic Dam Expansion, as well as senior Project Management roles for Fluor
and Hatch.
Dr. David Shaw is a well-respected structural geologist and mining entrepreneur, with significant global lithium
experience over the last 14 years, from exploration to production. Dr. Shaw served as Senior Mining Analyst
for the Corporate Finance Group at Yorkton Securities from 1990 to 1996. During his tenure at Yorkton, he was
involved in over $2 billion of capital market activity. Dr. Shaw was instrumental in the selection, acquisition and
exploration of Talison Inc’s lithium brine assets; Talison was acquired by Chinese lithium producer Tianqi in
2013 for $850 million. Dr. Shaw was also involved with First Majestic Silver from start -up in 2004 through to
eight operational mines, he resigned as of 2019.
Mr. Neil Stuart is a hig hly-experienced geologist and founding director and Executive Chairman of Orocobre
Limited (now Allkem Limited, current market capitalisation $8 billion) and was key to the acquisition and
development of the Salar Olaroz Lithium mine in Argentina. Mr. Stuart was also the Founding Chairman of
Oroplata Limited, whose Cerro Negro Project was taken over by Goldcorp for $3.5 billion. He has held numerous
senior executive positions on Australian- and Canadian-listed companies.
Mr. George Cumplido was recently non-Executive director of Power Minerals (ASX:PNN) , specifically focused
on its Salta Lithium Brine Project in Argentina. Formerly Senior Commercial Manager for Rio Tinto and Chief
Commercial Officer with ASX -listed Xanadu Mines Ltd, Mr . Cumplido has extensive experience managing
resource projects from inception to production. Fluent in Spanish, Mr. Cumplido has also held senior positions
with Vale, Mitsubishi and CSIRO, Australia’s national science agency.
Gary Schellenberg, CEO of Origen, noted: “Origen now has a Tier 1 team to execute on its Los Sapitos Lithium
Project in Argentina. As noted in our January 19 news, the Company is focusin g all its exploration efforts on
lithium, given forecasts of a massive shortage of lithium by 2030. I am pleased that our new Advisory Board
members share my belief in the significant potential of Los Sapitos. The Advisory Board will be of immediate
assistance to Dr. Thomas Hawkins, recently announced as Origen’s Managing Director, and our technical teams
of Coast Mountain Geological, Petra Gold Servicios SRL and Servicios Logisticos SRL.”
Gary continued: “This advisory board will also add incredible value to Origen’s on-going global search for lithium
brine, clay and pegmatite opportunities in addition to Los Sapitos and our Newfoundland pegmatite belt . Our
combined team has been investigating lithium for the last 13 years, including the Mariana Lithium Brine Project
now operated by Ganfeng Lithium. I look forward to accelerating our progress with these distinguished
advisors.”
Los Sapitos Project Status
Origen’s Los Sapitos Lithium Project is located in the northern part of the San Juan Province in Argentina.
Discovered by Origen during a global search for lithium occurrences, the most prospective part of Los Sapitos
consists of 26,962 hectares of contiguous exploration licences in San Juan Province, covering a Clayton Valley-
style lithium occurrence. Clayton Valley brines are contained at depth in dipping aquifers controlled by faults
and which have never formed a conspicuously visible salt lake like their Andean cousins. Notably, Abermarle’s
Silver Peak deposit only covers 2,000 hectares. Preliminary water sampling in Los Sapitos indicated lithium
levels similar to some established lithium salars – as high as 390 mg/l (see news release dated October 13,
2021). This indicates that the inflow water and conditions of Los Sapitos are capable of developing lithium
brines of potential interest. Ulexite (a boron evaporite mineral) has also been identified at Los Sapitos and
indicates that concentrated boron -bearing brines have been present – an import ant indicator for lithium
prospectivity. In 2023, Origen is planning gravity surveys, multiple geochem ical programmes and
airborne/satellite work, in order to identify drill targets for testing in Q4 of this year.
Financing
Origen is pleased to announce that that it has arranged for a non -brokered private placement (the “Private
Placement”) of up to 8 million units of securities of the Company (“Units”) at a purchase price of $0.25 per Unit
for aggregate gross proceeds of $2,000,000. Each Unit will be comprised of one common share in the capital of
the Company (a “Common Share”) and one -half Common Share purchase Warrant. Each whole warrant will
entitle the holder to purchase one additional Common Share (a “Warrant Share”) at an exercise price of $0.40
at any time up to 18 months following issuance.
Proceeds will be used for the next phase of detailed exploration at the Company’s Los Sapitos Lithium Project,
and for general working capital. Insiders will likely participate in the placement and, as such, their participation
in the Private Placement is a related -party transaction under Multilateral Instrument 61 -101 Protection of
Minority Security Holders in Special Transactions.
John Harrop, P. Geo., a Qualified Person as that term is defined in NI 43 -101, has supervised the preparation,
or approved the scientific and technical disclosure in the news release. Mr. Harrop is employed by Coast
Mountain Geological Ltd. He is not independent of the Company as defined in NI 43-101.
About Origen
Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and
lithium properties. The Company is fully focused on its 100% interest in the Los Sapitos Lithium project in
Argentina, and also holds a property portfolio of four 100% owned precious and base metal projects in southern
British Columbia, a 100% interest in the 26,771 ha LGM project property in the mineral rich Golden Triangle of
British Columbia, and a portfolio of investments from prior property joint ventures and sales.
On behalf of Origen,
Gary Schellenberg
CEO
For further information, please contact Gary Schellenberg, CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press
release.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references
to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks
associated with operations on the property, exploration activity generally, equipm ent limitations and availability, as well as other risks
that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward- looking information.
Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward -
looking information, whether as a result of new information, future events or otherwise.