Arena Minerals appoints Peter Damouni to its Board of Directors alongside Eduardo Morales stepping to Executive Chairman

– CANADA, Toronto –  Arena Minerals Inc. (TSX:AN) today announced that Eduardo Morales, who joined the Board of Directors in September 2018, has been appointed Executive Chairman of the Board of Arena Minerals, effective immediately.

Mr. Morales is a chemical engineer with 40 years of experience in project engineering, construction and start-up of lithium plants who formerly built and operated one of the world’s largest lithium operations. As President of Rockwood Lithium Latin America, he successfully led the development, commissioning, and operation of Rockwood’s Salar de Atacama project. His tenure with Rockwood Lithium culminated with the company’s sale to Albemarle Corporation for US$6.2 billion in 2014. In 2016, Mr. Morales was appointed Chief Operating Officer of Lithium X Energy Corp. and focused on advancing the Sal de los Angeles lithium brine project, located in the Salta province of Argentina, until construction stage. Lithium X was acquired in 2018 by Nextview New Energy Lion Hong Kong Limited in a $265M transaction.

Additionally, the Company announced the nomination of Peter Damouni to its Board of Directors. Mr. Damouni has nearly 18 years of experience in investment banking and capital markets with notable expertise in natural resources. Throughout his career, Mr. Damouni has worked on, and led, equity and debt financings valued at over $5 billion. He has comprehensive experience in equity financing, restructuring, corporate valuations, and advisory assignments. Mr. Damouni has established and serves as a Director of a number of mining companies listed on the TSX, the LSE and the AIM markets. Mr. Damouni is a graduate of McGill University, Montreal, Canada. He is a Canadian and British citizen residing in the United Kingdom.

Will Randall, President and CEO of Arena Minerals, commented: “I am delighted to have Eduardo assume a leadership role in this exciting new direction for the Company. It is a great vote of confidence for us, and our unique approach to the lithium space, to have a world renown leader become Executive Chairman of the Board. I would also like to take to opportunity to welcome Peter to the Board where his unique network and expertise are sure to greatly benefit the Company.”

The Company reports that Mr. Dan Bruno will be stepping down from the Board of Directors, effective May 1st, 2019. The Company would like to sincerely thank Mr. Bruno for his help and guidance over the years.

About Arena Minerals

Arena owns three lithium brine projects in Argentina, consisting of three claims covering a total of 4,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation’s Antofalla project, claims covering 290 hectares in Salar de Hombre Muerto, and an option over 2,000 hectares in the Pocitos Salar.

Arena also owns 80 percent of the Atacama Copper property, consisting of two projects covering approximately 7,000 hectares within the Antofagasta region of Chile. 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.

The technical and scientific aspects of this news release have been reviewed and approved by Mr. William Randall, P.Geo, who is a qualified person pursuant to NI 43-101. As the President & CEO of the Company, Mr. Randall is not considered independent.

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