ION Energy Validates Geophysics And Calculates Volume For Urgakh Naran Lithium Brine Project, Provides Update On Baavhai Uul |

Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is pleased to share further results of an additional TEM (Transient Electro Magnetic) line that intercepted the previously announced 8 TEM lines completed on its Urgakh Naran project.

"An exciting milestone for the Company that validates the results of the previously announced TEM results as well as provide the Company with a means to calculate the brine body on the basis of the low resistivity zone, bringing us one step closer to providing a resource estimate on a market altering deposit at Urgakh Naran," said Ali Haji, CEO & Director of Ion Energy.

The TEM survey validates the high conductivity and low resistivity seen across the previously announced lines across the basin, validating extensions, faults, and displacements affecting the Urgakh Naran aquifer. The Company is equally happy to share results from the extensive drilling operations that we have concluded on the expansive Baavhai Uul licence.

Ion Energy has successfully completed an additional 16 line-km TEM survey on its Urgakh Naran project in Mongolia that intersects the previously announced 82 line-km completed.

Figure 1: Low Resistivity Zone shown with lines 1 through 9.

To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/6906/134827_3563649604719999_002full.jpg.

Following the low resistivity northeast structures narrowing from the southwest to the northeast direction, the company completed line 9 intersecting all lines previously completed.

Figure 2: Low Resistivity Zone confirmed by Line 9

To view an enhanced version of Figure 2, please visit: https://images.newsfilecorp.com/files/6906/134827_figure%202%20ion.jpg.

The Company calculates a 22.7 billion cubic meter low resistivity brine body with a cut off of

Figure 3. Low resistivity zone volume at Urgakh Naran.

To view an enhanced version of Figure 3, please visit: https://images.newsfilecorp.com/files/6906/134827_3563649604719999_004full.jpg.

The Company is now working to determine the location of the monitoring well locations and is mobilizing rigs in country to commence a program in the coming weeks. The three hole monitoring well drill program will allow Ion Energy to obtain samples for hydrogeological sampling, porosity testing, flow rates and depth-specific brine sample measurements that will include chemical assays with the objective of announcing a mineral resource estimate in Q4 2022. The Company has confirmed a site visit in late September this year that will include technical experts, strategics and analysts.

As reported to market, Ion Energy completed a significant auger program across the vast Baavhai Uul licence, and alongside the 1502 ppm Li seen at the White Wolf Prospect at Baavhai Uul, the Company reports the discovery of strong CuNi anomalies as reported by Aranjin Resources Ltd, further solidifying the value of the Reciprocal Mining Rights Agreement entered into with Aranjin Resources Ltd on February 1, 2022.

Figure 4. Victory CuNi Discovery at Baavhai Uul.

To view an enhanced version of Figure 4, please visit: https://images.newsfilecorp.com/files/6906/134827_3563649604719999_005full.jpg.

All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person" under National Instrument 43-101.

ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920

Cautionary Note Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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ION Energy Ltd. (TSXV:ION,OTC:IONGF) is a battery metal exploration company focusing on lithium exploration in southeast Mongolia. The company holds one of the largest mining licenses in Mongolia and is leveraging its first-mover advantage to explore an area of more than 80,000 hectares containing lithium brine and spodumene targets.

The global lithium market was worth US$2.86 billion in 2017 and is projected to grow to US$5.88 billion by the end of 2025, according to data by Adroit Market Research. Lithium’s growth is being driven by demand from the green energy and electric vehicle markets. Rising concern over global carbon emissions is leading to the rising adoption of renewable energy generation technologies including electric vehicles and large-scale energy storage technologies, all of which require massive amounts of battery metals like lithium, cobalt and nickel. The International Energy Agency projects the number of electric vehicles on the road to reach 125 million by 2030, with each one containing a large lithium-ion battery. Battery-producing megafactories, including Tesla’s famous giga-factories, are being built around the world, with 91 such facilities expected to be operational by 2028. Governments around the world, including the United States and Chinese governments, are working to secure supplies of battery metals to prepare for a green energy future.

The Mongolian government has granted ION Energy one of the largest exploration licenses in the country for the company’s Baavhai-Uul project in the Sukhbaatar province. The 81,758 hectare asset contains high-grade near-surface lithium brines of up to 810ppm with low potassium and magnesium ratios, which makes for better crystallization of the lithium hydroxide. ION Energy is the first company to be granted a license for this asset, which has never been mined previously. Previous exploration work has been conducted on the project by the Technical University of Mongolia and the Mongolian government.

ION Energy’s management team has extensive experience working with the Mongolian government, which has been largely supportive of mining exploration within the country. The Mongolian economy is largely commodity-based and is considered by the World Bank to be stable and growing. The country’s GDP reached US$13.01 billion in 2018 with a growth rate of approximately six percent. Mongolia enjoys social and political stability and offers a low cost of doing business for international miners. The country is equipped with high-quality and reliable mining and transportation infrastructure. Mongolia’s advantageous position in East Asia puts it close to major lithium markets like China, Korea, Japan and Russia.

The Mongolian government signed a Foreign Investment Promotion and Protection Agreement (FIPA) with Canada in 2017. The agreement established a legal framework under which Canadian investors working in Mongolia are offered greater predictability and certainty for their investments.

The geology of Southeast Mongolia mirrors that the famed Lithium Triangle of South America. Like the Lithium Triangle, the region is an endorheic basin contained within a low precipitation zone.

ION energy’s Baavhai-Uul asset is located approximately 800 kilometers southeast of Ulaanbaatar, the capital of Mongolia and 200 kilometers south of Baruun-Urt, the capital of Mongolia’s Sukhbaatar province. The property is located about 200 kilometers from the Chinese border. The property totals approximately 81,758 hectares in size. The area is well connected, with paved roads connecting all population centers in the area to the capital city. Gravel roads lead directly to the Baavhai-Uul property. Local towns could supply the project with inexpensive labor, while supplies and equipment can easily be obtained from Ulaanbaatar.

Exploration work by the Mongolian University of Science and Technology

Exploration work has been conducted on the property by the Mongolian University of Science and Technology. The university’s work consisted of two pits drilled by hand auger in the lake bottom collected in 20 cm intervals and has indicated the presence of high-grade near-surface lithium brines. Sampling results by the university indicate lithium content in brines of up to 811 ppm lithium with an average of 462.64 ppm lithium. The samples were assayed by the independent certified assay lab Khanlab LLC located in Ulaanbaatar.

Ali Haji is the Director of Antler Hill Mining Ltd and Spirit Banner II Capital Corp. Haji serves as an advisor to ATMA Capital Markets Ltd and Steppe Gold.

Mr. Haji has extensive knowledge of the financial services sector after having spent over 13 years in the Asset Management Industry performing strategic and process improvement roles. He started his career as a technology analyst at Invesco Ltd. in 2006 and advanced into various roles including Technology Risk, Controls, Program Management, and Process Improvement with international assignments involving mergers and acquisitions in Hong Kong, U.S.A and Australia. Most recently, he was also a principal contributor to the creation of a Center of Excellence in London, England for Invesco Ltd. Mr. Haji attended The University of Western Ontario and holds a BSc in Computer Science.

Matthew Wood is a mineral resource explorer and developer with over 25 years of global industry experience in mining and commodities investments. He serves as the Chairman of Steppe Gold (TSX:STGO). He was a Founding Chairman of Avanco Resources, which sold in March 2018 for AUD$440 million and Hunnu Coal, which sold for USD$500 million in 2012.

He has managed investment deals in diamonds, coal, energy, ferrous metals, base and precious metals, and other commodities. His unique skills in technical and economic evaluation of resource opportunities have resulted in a record of nurturing resource deals from early stage, to market listings and exit strategies for his investors.

He was formally the founder and executive Chairman of Mongolian coal company, Hunnu Coal Limited. Hunnu Coal was IPO of the year for all sectors on the ASX in 2010, and its sale for approximately A$500M in 2011 to Banpu PCL was recognized as the Mines and Money 2012 Deal of the Year. Mr. Wood has founded and been involved in many other resource companies and investments through the years.

He has extensive experience and many key relationships in Mongolia and was recently awarded the Order of the Polar Star, the highest state honor that can be awarded to a non-citizen of Mongolia.

Tumur-Ochir is a Mongolian citizen and Executive Director of Steppe Gold LLC. At Steppe Gold, he is responsible for new business acquisitions, development and government and community relations. Mr. Tumur-Ochir is also responsible for daily operations in Mongolia. Mr. Tumur-Ochir is currently a director at GCD Mongolia and CEO and executive director of ASX listed Wolf Petroleum.

Under his guidance, Wolf Petroleum was awarded the “Operator of the Year Award” from the Petroleum Authority of Mongolia, and today, Wolf Petroleum is recognized as the fastest-growing petroleum exploration company with the largest petroleum exploration acreage in Mongolia. Mr. Tumur-Ochir holds a bachelor’s degree in business administration and graduate certificates in international business and marketing from Australia and Singapore.

Mr. Tumur-Ochir has strong relationships at all levels of government in Mongolia and was recently appointed independent advisor to the Ministry of Mining and Heavy Industry responsible for foreign investment and promotion.

Aneel Waraich is the EVP and Director of Steppe Gold, Director of Antler Hill Mining Ltd, CEO of Spirit Banner Capital Corp, Founder of ATMA and ATMACORP with experience in investment banking at Dundee.

Waraich is the founder of ATMA Capital Markets and ATMACORP LTD and a financial services professional with progressive experience in both the asset management and corporate finance businesses.

Waraich focuses primarily on advising public and private companies in the Natural Resources sector. In previous roles at Goodman and Company Investment Counsel and Dundee Capital Markets, he worked as an analyst valuing private companies. Most recently Aneel worked as an investment banker focusing on deal origination, going-public transactions and financings for both public and private companies in the resource and technology sectors.

Enkhtuvshin Khishigsuren has over 30 years of Mongolian mineral exploration experience. He has focused his expertise on the precious metals exploration sector resulting in successes for numerous companies. Mr. Khishigsuren spent the first 10-12 years of his career at Central Geological Expedition doing regional geological mapping in various areas of Mongolia, followed by 7 years as senior exploration manager on exploration of precious metal in Mongolia for Harrods Minerals, privately funded exploration company.

Since 2005 he has been running his own company Erdenyn Erel and conducting exploration and consulting services to Western exploration and mining companies. Mr. Khishigsuren has been responsible for identifying targets and properties. His knowledge and experience have resulted in the discovery of several prospective gold and copper deposits in Mongolia; such as the multimillion ounce gold deposit Olon Ovoot, a large molybdenum porphyry deposit Zuun mod and the Shand copper porphyry deposit near Erdenet copper mine.

Mr. McVicar brings more than 30 years of international business experience in Management Consulting and Finance. His previous roles include Consulting Partner at a Big 4 firm, CFO of a TSX-listed company and several regional finance leadership roles with large US and Canadian multinationals in Canada, the US, South America and Asia. Mr. McVicar is a CPA, CA and graduated with an MBA from Duke University and a B. Comm from Queen’s University.

Wendy Li's more than 18 years of extensive commercial and business development experience in Asia, including Mongolia and China, has spanned across commodity branding and trading, supply chain management and asset development. Prior to joining Ion Energy, Ms. Li served as General Manager of International Trade for Noble Resources Ltd and General Manager of Marketing for SouthGobi Resources Ltd. Ms. Li graduated from Wilfrid Laurier University, in Waterloo, Canada with a Bachelor of Arts, Honours in Economic and Financial Management.

Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is very pleased to announce the results of a TEM (Transient Electro Magnetic) survey on its Urgakh Naran project. The TEM survey detects high conductivity and low resistivity across the basin, and to predict extensions, faults, and displacements affecting the aquifer. The program was highly successful in meeting all objectives.

"The Company is extremely pleased to report TEM results that suggest that the Urgakh Naran project's aquifer is large in size and shows low resistivity. On the back of at surface samples of 918 Mg/L Lithium as announced by the Company on May 9, 2022, these geophysics results further advance the hypothesis of a potential significant lithium brine deposit at the Company's Urgakh Naran site," said Ali Haji, CEO & Director of Ion Energy.

Ion Energy has successfully completed an 82 line-km TEM survey on its Urgakh Naran project in Mongolia.

The survey identified very low resistivity northeast structures narrowing from the southwest to the northeast direction in the central licence.

Figure 1: Low Resistivity Zone Illustrated Against Resistivity Sections

To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/6906/130471_fe763eb0c4360a8f_002full.jpg.

Ion Energy is currently assessing the data to determine suitable drill monitoring well locations to test the conductive zone at depth. A three hole monitoring well drill program is planned that will be announced to market in order to obtain samples for lithological description and porosity testing, flow rates and depth-specific brine samples that include chemical assays to allow the Company to achieve an early resource estimate. Figure 1 illustrates the highly conductive zone on the resistivity sections.

All lines show resistivity beginning at a highly encouraging 0.2 Ohm, with a maximum resistivity of 500 Ohm, drawing similarities to assets in the Lithium Triangle.

Ion Energy is highly encouraged by the results of the TEM survey. Surface brine sampling at 918 Mg/L Li at Urgakh Naran along with the 1502 ppm Li seen at the White Wolf Prospect at Baavhai Uul continue to display high prospectivity. The TEM results, geophysics at Baavhai Uul have confirmed the potential for the development of a potentially large, deep highly conductive zone in the central part of the Urgakh Naran concession supporting the geological exploration model and thesis developed by the company.

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920

Cautionary Note Regarding Forward-Looking Information

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Couloir Capital is pleased to announce it has published a new research note on ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB). The update report is titled, "Maiden Drilling Results for Flagship Project and 2022 Drilling Work Commenced."

Report excerpt: "Off the back of our previous update report, ION has completed its maiden auger drilling program at its flagship project Baavhai Uul, reporting assay results that offer promising indications about the project's lithium potential. In addition, the program uncovered the anomalous presence of copper and nickel at the project, offering further potential for the project to be future supplier to the EV industry. Moving forward, ION has commenced maiden drilling at its other project Urgakh Naran, with early indications pointing to high-grade lithium potential. We expect that positive findings at Urgakh Naran could build upon positive results from the 2021 drilling at Baavhai Uul and build a growth platform for ION to leverage in future exploration."

The report can be accessed through Couloir Capital's portal: https://www.couloircapital.com/research-portal

Ion Energy Ltd is Mongolia's first lithium brine explorer and developer, with licences spanning a combined landmass of over 100,000 hectares. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.

Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies.

For further information, please contact:

Rob Stitt, Managing Director, Couloir Capital Ltd. Email: rstitt@couloircapital.com www.couloircapital.com

Disclosure: Couloir Capital Ltd. and/or affiliated companies hold shares and warrants in ION.

A service agreement exists between the Couloir Capital Ltd. and ION Energy Ltd.

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Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is extremely pleased to report that the Company has made a significant lithium brine discovery at its +29,000 hectare 100% owned Urgakh Naran Lithium Project in Mongolia. The brine sample was collected at surface from a shallow pool and assayed 918 mgL Lithium. This is an exceptional early result for the Company and is the highest grade lithium brine known to have ever been collected in Mongolia. This is also in line with lithium brine results from producing operations immediately to the south in China.

"These exceptional early results are extremely exciting for all stakeholders, they reinforce the Company view that high quality lithium brines could be discovered at the Urgakh Naran Lithium Project. We anticipate many more positive updates to the market in the coming months as exploration is ramped up over summer. ION has an active and expanded exploration team on site at Urgakh Naran and exploration is ongoing," said Ali Haji, CEO & Director of ION Energy Ltd.

Figure 1. Location of brine sample collection on one of the salt lakes at Urgakh Naran, showing natural evaporation ponds.

To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6906/123421_f6a76bdfd453596b_002full.jpg

Figure 2. Brine collected on site at Urgakh Naran during ION's exploration program.

To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6906/123421_f6a76bdfd453596b_003full.jpg

Figure 3. Exploration status at Urgakh Naran as at May 9, 2022.

To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6906/123421_f6a76bdfd453596b_004full.jpg

The sample was obtained from a surface evaporation pond indicative of Lithium brine potential at depth. Due to surface evaporation effects, the assay result may not be indicative of lithium grade at depth but is highly encouraging. A series of targeted holes is planned to test brine potential at depth upon completion of the current geophysical and shallow auger hole program.

The Company has now completed all 72 auger drill holes for a total of 820.5 metres and 427 geochemical samples including brine samples. Samples have now all been submitted for lithium analysis. In addition, Ion Energy has completed seven of the eight planned TEM Geophysical lines for a total of 88 line kms. TEM is being utilised to further outline the extensive and widespread accumulations of brines across the project. Initial data is currently being assessed and interpreted by the Company and its geophysical consultant.

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is excited to provide an extensive operational and exploration update on the heels of the site visits in Mongolia in late April, to our Baavhai Uul and Urgakh Naran projects:

+81,000 hectare Baavhai Uul flagship project has shown ~25% lithium anomalies thusfar, as further drilling results are pending; and

Results from core brine sampling are expected from our +29,000 hectare Urgakh Naran sala: sampling was collected from the surface, with five of eight Transient Electromagnetic (TEM) lines completed with 53 auger holes to a depth of 12m,2m after the water table or basement; whichever was arrived at first. Auger holes are being sampled every 2m and are bailed a minimum of twice, 24 hours after being drilled before collecting brine samples.

Following the recent site visits to the 100%-owned Baavhai Uul and Urgakh Naran projects, conducted by our CEO, Ali Haji, ION Director, Enkhtuvshin Khishigsuren, Don Hains, P.Geo, MBA, Lead Technical Advisor, and Dr. Mark King, PhD, P.Geo,ION is pleased to share that exploration programs have advanced and results from both brine collected and core samples are expected in the coming weeks.

ION's CEO, Ali Haji, commented, "I would like to thank Mark and Don for joining this strategic visit, and am excited to be building a critical Lithium supply, with these foremost global industry experts by our side. Having their on-the-ground insight was invaluable from a training perspective for our in-country exploration team, and further reinforced the potential of our highly prospective, world-class assets. We are encouraged by the prospect of Baavhai Uul's pending additional drilling results and Urgakh Naran's current sampling."

ION's technical advisor, Dr. Mark King shared his observations: "I visited Mongolia from April 19-24, 2022 for the purpose of reviewing ION's lithium brine exploration assets, located in the Gobi Desert in southern Mongolia. Though the UN site's program is at an early stage, with TEM geophysics and shallow auger sampling just under way, the geology and morphology of the property is highly prospective, with some parallels to Nevada playa basins and South American salars. It was heartening to see some artisanal salt harvesting in the surface evaporite layers, contained in the low-lying dry ponds and lakes: a good indication of brine presence.

In my first foray into Mongolia, it was evident that the jurisdiction has a very positive view of responsible mining and exploration projects. And my interaction with the in-country ION exploration crew demonstrates that Mongolia has a highly-skilled mining workforce, with well-trained geologists and hydrogeologists to support such projects. I look forward to the upcoming results from both of Ion Energy's sites."

Ion Energy looks forward to providing regular exploration program updates with the market, in the coming weeks. In the meantime, our team has prepared this video to share in the excitement of our recent visit.

Figure 1. Aerial image of two salt flats in the Urgakh Naran Basin.

To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_001full.jpg

Figure 2. Exploration Camp at Urgakh Naran. To view an enhanced version of Figure 2, please visit: https://orders.newsfilecorp.com/files/6906/122500_fig2.jpg

Figure 3. Natural Evaporation Ponds on one of the salt basins at Urgakh Naran.

To view an enhanced version of Figure 3, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_003full.jpg

Figure 4. Brine collected on site at Urgakh Naran during site visit for assay.

To view an enhanced version of Figure 4, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_004full.jpg

Figure 5. Senior Technical team: Enkhtuvshin Khishigsuren, Mark King, PhD, PGeo., and Don Hains, P.Geo, MBA with CEO, Ali Haji on site at Urgakh Naran.

To view an enhanced version of Figure 5, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_005full.jpg

Figure 6. Exploration status at Urgakh Naran as at April 30, 2022.

To view an enhanced version of Figure 6, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_006full.jpg

Results from the maiden auger exploration program have now been obtained for the entire licence. The Company looks forward to the results from the infill program. Given the scale of this licence, we are encouraged by the grades being seen in and around the White Wolf Prospect.

Figure 7. Baavhai Uul results and exploration status map.

To view an enhanced version of Figure 7, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_007full.jpg

The Company also announces that it has granted to certain consultants and insiders of the Company, 165,000 options an aggregate of 165,000 incentive stock options (the "Stock Options") to purchase common shares under the Company's incentive stock option plan (the "Plan"). Each Stock Option is exercisable into a common share of the Company at a price of $0.605 for a period of two years from the date of grant. The Stock Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, +1 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, + 1 416-432-4920

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122500

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Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) is pleased to announce the appointment of Foremost's largest shareholder, Jason Barnard to the Company's Board of Directors (the "Board").

Mr. Barnard has over 31 years of capital markets experience. Since 2004, he has been self-employed as a private investor where he has been directly involved in raising over $500 million dollars for mining and exploration companies with a focused expertise on Canadian base metal companies. Mr. Barnard started his career with McDermid St. Laurence Securities in 1991 as a stockbroker with primary focus in mining, and mining exploration companies. Mr. Barnard then worked at Canaccord Genuity from 1997 until 2004. Mr. Barnard holds a Bachelor of Arts degree with a major in Economics from Carlton University and has obtained The Canadian Securities Course license in 1990. He first started working with and financing Foremost Lithium, previously known as Far Resources, with founder, and President Keith Anderson in 2016.

Jason Barnard comments "I look forward to working with the Board and to bringing my capital markets experience to the management team. I have a strong knowledge of the company's developments and believe my interests are very much aligned with all shareholders."

John Gravelle, Foremost Lithium's CEO and President adds "We are pleased to appoint Jason to the Board at Foremost Lithium. His long history with the company along with his capital markets experience will be enable us to promote the continued advancement of our corporate goals. We would also like to announce that Scott Taylor has resigned to pursue other opportunities. Everyone at Foremost wishes Mr. Taylor well in his future endeavours."

John Gravelle President and CEO, Foremost Lithium Resource & Technology

About Foremost Lithium Resource & Technology Ltd.

Foremost Lithium is a resource exploration company committed to having a critical role in the production of high-quality battery-grade lithium hydroxide to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing decarbonization, the company is hyper-focused on continued exploration and growth on its six lithium projects: Jean Lake, Grass River Claims, Zoro, Jol and the Peg North Claims, in Snow Lake Manitoba, and its Hidden Lake Lithium Project in the Northwest Territories. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA.

For further information please contact:

John Gravelle President and CEO Foremost Lithium Resource &Technology Ltd. Email: info@foremostlithium.com Phone: +1 (604) 330-8067

Twitter: @foremostlithium Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany Facebook: https://www.facebook.com/ForemostLithium

This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the Company's properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the Company's projects; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; increases or decreases in market prices of mining consumables, possible variations in resource estimates, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, changes in applicable laws or stock exchange policies and receipt of any requires regulatory approvals and political and economic developments in areas in which the Company operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136368

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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), is pleased to announce that it intends to complete a non-brokered private placement consisting of units of the Company at a price of $0.175 per unit (the " Unit ") for aggregate gross proceeds of up to C$2,750,000, with each Unit comprised of one common share of the Company (each, a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "), with each whole Warrant entitling the holder to acquire one (1) Share (each, a " Warrant Share ") at a price of C$0.35 per Warrant Share for a period of twenty-four (24) months, provided that if the volume weighted average trading price of the Shares on the Canadian Securities Exchange (" CSE ") is at a price greater than $0.70 per Share for ten (10) consecutive trading days, then the expiry date of the Warrants shall automatically accelerate and will expire on the date that is thirty (30) days after the date that notice of such acceleration is provided to the Warrant holders by way of press release (the " Offering ").

The Company intends to use the net proceeds raised from the Offering for funding exploration drilling and five hole drill program at the Company's projects, property payments and general working capital.

All securities issued in the Offering will be subject to a statutory four month hold period. Closing of the Offering is subject to receipt of all regulatory approvals, including approval of the CSE. The Offering is expected to close on or about September 12, 2022.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The Company also intends to issue approximately 2,500,000 Shares to various creditors to settle outstanding indebtedness.

Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.

For more information, please contact:

nader@speyresources.ca 778-881-4631

Cautionary Note Regarding Forward-Looking Statements

This news release includes forward-looking statements that are subject to risks and uncertainties, ‎‎‎‎including with respect to the Offering, including the total proceeds, use of proceeds, and the closing (including the proposed closing date) of the Offering . The Company ‎‎provides forward-looking statements for the purpose of conveying ‎‎information about current ‎‎expectations and plans relating to the future and readers are cautioned that ‎‎such statements may not be ‎‎appropriate for other purposes. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR profile at www.sedar.com. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

The CSE has not reviewed, approved, or disapproved the contents of this ‎press release.‎

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Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill battery-grade manganese project in Botswana (" K.Hill Battery Manganese Project " or " K.Hill "), is pleased to announce that it has signed a design-build contract (" Contract ") with specialist South African-based hydrometallurgical engineering firm Met63 (Pty) Ltd. (" Met63 ") for the construction of a demonstration plant (" Demo Plant ").

The Demo Plant project has the following key objectives:

The Contract covers the engineering, construction and commissioning of the Demo Plant, on an open book and cost-reimbursable basis. The capital expenditure of approximately USD9.2 million, plus incentives for Met63 based on delivery of the Demo Plant on time, within budget and on specification, will be funded from the Company's existing cash resources. Met63 is a specialist hydrometallurgical engineering and consulting company based in South Africa with a team that has extensive experience in designing hydrometallurgical circuits and specializes in advanced modular process plants for battery-grade metals.

The Demo Plant is designed for a continuous process, so that HPMSM crystals meeting the stringent product specifications set by potential off-takers can be produced in a steady state operation. To support the continuous process, the Demo Plant will be equipped with a sophisticated instrumentation and control system that also provides the flexibility to use the Demo Plant for de-risking the commercial plant development and as a training facility. The Demo Plant can produce up to 600kg of dry HPMSM crystals per day depending on feedstock characteristics.

Met63 and the Company have selected a construction site in Johannesburg where the Demo Plant will be commissioned and operated before expected relocation to Botswana. Completion of the construction of the Demo Plant is currently anticipated by mid-2023 with commissioning, ramp-up and first HPMSM product samples expected to be available for shipment in H2 2023. This timeline has been made possible by the early procurement of the longest lead items, in particular the two crystallizers and associated accessories that were ordered in March and June 2022, which are currently scheduled for delivery in Q1 2023, and make up the entire crystallization unit of the Demo Plant that will allow for it to operate on a continuous process.

The Company intends to dispatch HPMSM product to potential off-takers in the European, North American and Asian markets, a number of whom have already requested samples. Giyani's HPMSM product will then be tested to verify quality and performance characteristics prior to the conclusion of any potential off-take contracts.

Robin Birchall, CEO of the Company, commented:

"The Demo Plant is a cornerstone of our strategy for full commercial development. Its objectives are to validate our process flowsheet, de-risk commercial development of K.Hill and facilitate off-take contracts with battery and OEM customers. Signing this contract with Met63, an experienced specialist hydrometallurgical engineering firm with a proven track record in engineering and construction of battery-grade metal projects, is another step towards production and first shipments of HPMSM in the second half of 2023.

The support of our shareholders has allowed us to fund the construction and commissioning of a larger Demo Plant than originally envisaged, with a capacity of up to 600kg per day, despite inflationary pressures and cost increases across the mining industry. An increasing number of OEMs have highlighted the potential of manganese-rich cathodes and so our enlarged facility will be able to cater for increased demand for HPMSM samples.

Our low carbon process makes Giyani an ideal partner for the supply of this critical battery material. With several key catalysts on the horizon, including the release of our feasibility study on K.Hill, we are entering a very exciting phase of development."

Giyani is a mineral resource company focused on becoming one of Africa's first low-carbon producers of high-purity manganese sulphate precursor materials directly from manganese oxide ore, used by battery manufacturers for the expanding EV market, through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana, (the " Kanye Basin Prospects ") through its wholly-owned Botswana subsidiary Menzi Battery Metals (Pty) Limited. The Company's Kanye Basin Prospects consist of eight prospecting licences and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Battery Manganese Project, the Otse manganese prospect and the Lobatse manganese prospect, both of which have seen historical mining activities.

The Company is currently undertaking a feasibility study on the K.Hill Battery Manganese Project, following an updated preliminary assessment report announced on April 12, 2021, with a post-tax NPV of USD332 million and post-tax IRR of 80%, based on a development plan to produce around 891,000 tonnes of HPMSM over a ten year project life. An updated 43-101 technical report on the K.Hill Battery Manganese Project is available on www.sedar.com and on the Company's website at giyanimetals.com .

Met63 is a dynamic, technology-based engineering and consulting company with expertise in providing tailored engineering solutions utilising innovative and cost-effective mineral processing options. The Met63 team has extensive experience in designing hydrometallurgical circuits and specializes in advanced modular process plants for battery-grade metals. For more information about Met63, please visit met63.com .

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com

Qualified Persons / NI 43-101 Disclosures

Mr. Jacques du Toit CEng. PrEng. MscEng. PMP is a qualified person, as defined by National Instrument 43-101. Mr. du Toit is the Company's VP, Technical Services and has reviewed and approved the scientific and technical content contained in this press release but is not independent for the purposes of NI 43-101.

On behalf of the Board of Directors of Giyani Metals Corp.

Robin Birchall CEO, Director +44 7711 313019 rbirchall@giyanimetals.com

George Donne VP Business Development +44 7866 591 897 gdonne@giyanimetals.com

Judith Webster Corporate Secretary +1 416 453 8818 jwebster@giyanimetals.com

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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to report that it has acquired by staking 10 claims totaling approximately 5196 acres situated near Birse Lake, southeastern Manitoba, Canada, contiguous and directly east of ACME's Shatford Lake project area.

The Birse Lake claim block covers the Birse Lake pluton that has numerous pegmatite occurrences along its periphery. The project claim area has been filed with the Manitoba government and is subject to review and processing. This brings ACME's land holdings in southeastern Manitoba to approximately 17,000 acres or 70 square kilometres.

Figure 1: Shatford Lake and Birse Lake claim areas map

To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/7776/135965_110f8ed1944388a5_002full.jpg

ACME's Shatford Lake and Birse Lake claim areas are located strategically and contiguous to the south of Sinomine's world class Tanco Mine, a Lithium, Cesium and Tantalum producer (LCTs) since 1969, located in the pegmatite fields of the southern limb of the Bird River Greenstone Belt (BRGB). ACME's Cat-Euclid Lake project claims are approximately 20 kilometres to the north of the Tanco Mine.

The northern and southern limbs of the Bird River Greenstone Belt contain at least 10 pegmatite fields and host hundreds of individual pegmatite bodies, of which many are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. In both limbs of the BRGB, pegmatites are associated with granitic intrusions into structurally dilatant zones adjacent to major east-west shear zones. Worldwide, LCT pegmatite deposits account for about one-fourth of the world's lithium production, most of the tantalum production, and all the cesium production.

ACME is in the process of completing an extensive summer exploration program at both Cat-Euclid and Shatford Lakes employing remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. Our exploration focus is on spodumene-bearing LCT pegmatites that are a source for high quality lithium that can be converted to lithium carbonate.

Dane Bridge, P. Geol. is a Qualified Person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.

Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.

On behalf of the Board of Directors

Steve Hanson Chief Executive Officer, President and Director Telephone: (604) 564-9045 info@acmelithium.com

Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135965

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(TSX.V: TORC) (OTCQB: TORCF)

TinOne Resources Inc. (TSX.V: TORC) (OTCQB: TORCF) (" TinOne " or the " Company ") is pleased to provide its second batch of results from its 100%-owned Great Pyramid Tin (Sn) Project (the " Project ") located in the tier one mining jurisdiction of Tasmania, Australia . The ongoing drill program has returned outstanding high-grade results highlighted by hole 22GPRC012 which returned 0.51% Sn over 78 metres, Including 1.09 % Sn over 23 metres from near surface in a new zone. Great Pyramid is the Company's most advanced and active project in its portfolio of high-quality tin assets and more results are expected in the coming weeks.

"These current results from Great Pyramid are some of the best ever reported from the Project and demonstrate exceptional grade and thickness in areas outside the historical resource area," commented Chris Donaldson , Executive Chairman. "The drilling continues to deliver consistent results within the historical resource area, and more importantly identifying significant mineralised zones outside the historical resource area. Our geological team is working to further develop our grade distribution model and build our geological interpretation to assist further targeted drilling and the integration with the extensive historical database."

Results have been received for 2,128 metres of the Company's ongoing 5,500 metre drilling program at the Great Pyramid Project. These results represent complete results for 15 Reverse Circulation (" RC ") drill holes, partial results for one additional RC hole and results from one diamond cored hole. Assays are being fast tracked.

Drilling commenced at the Project on April 27 , 2022. The initial program consists of approximately 5,500 metres and has several objectives:

In addition to the RC drill results reported here, an additional 2,037 metres of diamond drilling has been completed within, lateral to, and beneath the historical resource area. Drill core processing is underway with an initial 528 metres of core despatched to the laboratory.

Results reported here are from below, peripheral too and within the historical resource 1 area (Table 1). Drill holes below and peripheral to the historic resource model have returned intersections consistent with or higher grade than the historical model, including high grade intersections in 22GPRC012 from near surface outside the current resource. Deeper diamond drilling (assays pending) has confirmed the presence of mineralisation to considerable depth below the historical resource model and are consistent with historical drill data 2 which returned mineralised intervals to the limit of drilling, up to 300m below surface.

Table 1: Great Pyramid RC drill results. More significant results are shown in bold.

Inside historic resource model. Diamond tail completed (assays pending) below historical resource model.

Inside historic resource model, to end of hole, abandoned in old working.

Inside and below historical resource model.

Outside historical resource model. To the end of hole.

NOTES: All intersections are calculated with a cut-off grade of 0.1% Sn with maximum consecutive internal waste of 4 metres. All intersections are downhole widths, true widths are uncertain.

TinOne drill hole numbering is in the form 22GPRCXXX for RC holes and 22GPRDDXXX for diamond holes with numbering allocated in sequence. Analytical results have been received for holes 22GPRC002, 003, 004, 005, 006, 007, 009, 011, 012, 013, 014 ,016, 017, 018A, 019 and 021 (part). Hole 22GPRC020 failed at 12 metres and was not assayed. The target area for this hole was drilled by 22GPRC021.

Diamond holes completed to-date and with assays pending are 22GPDD001A (redrill of 22GPDD001 which was abandoned at 42.1m), 22GPDD008, 22GPDD10, 22GPDD015 and 22GPDD023. Diamond tail extensions have been completed for RC pre-collar holes 22GPRC003, 22GPRC004 and 22GPRC006 with assays pending.

The Great Pyramid deposit is located around a topographical feature known as Pyramid Hill and is hosted by Silurian to Devonian Mathinna Supergroup sandstones. The mineralization is formed by closely spaced sheeted northeast trending, cassiterite (SnO₂) bearing veins associated with silicification and sericite-pyrite alteration. The deposit style and regional comparisons suggests that a tin-fertile granite exists at depth below the deposit, however this has not been encountered in drilling and the deposit is open at depth. Geological interpretation indicates that certain sedimentary units within the folded Mathinna Supergroup sediments are more favourable hosts and diamond drilling being undertaken by the Company during the current campaign, combined with numerical modelling, will assist in developing a deeper understanding of controls on grade for follow up drilling.

The deposit is currently known over a strike length of more than 500 metres with an average width of approximately 150 metres. The depth extent of the deposit is unknown with only nine historical drill holes greater than 150 metres deep. These rare deeper holes encountered encouraging tin mineralization to depths of approximately 300 metres below surface 2 .

The previous owners of the Great Pyramid project estimated an Inferred Resource reported under the JORC 2012 guidelines. This resource contains approximately 10,000 tonnes of tin at a grade of 0.2% tin (Table 2). The estimation utilised close spaced historic percussion (~85%) and lesser diamond drill holes with drill spacing in the estimation area typically 15 x 30m and locally closer. Although the resource is defined by close spaced drilling, the resource was classified by the previous owners as Inferred due to the historic nature of the data. The estimate was reported in the independent geological report prepared by Mining One Pty Ltd for TNT Mines Ltd, dated June 26, 2017 .

Table 2: Great Pyramid Historical Inferred Mineral Resource 1

Great Pyramid Inferred Mineral Resource - JORC 2012

The Inferred Resource was estimated using Multiple Indicator Kriging method of 1.5 metre down-hole composites within a mineralized domain interpreted from tin grade. The estimate is restricted to the area of close spaced drilling and 90% of the resource occurs within 40 metres of surface. Although the limited deeper drilling has encountered mineralized material this was not included in the resource. Additional drilling utilising modern drill techniques, analytical techniques and QA/QC will be required to re-estimate the resource and report under NI 43-101.

The reader is cautioned that the above referenced "Inferred Resource" estimates are considered historical in nature and are based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and TinOne is not treating the historical estimate as current mineral resources or mineral reserves. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the Great Pyramid property can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category.

Data regarding historical drilling is sourced from Mineral Resources Tasmania online database (MRTMap). In addition, data for 18GPD001 has been sourced from a public announcement by previous owners TNT Mines, November 15, 2018. However, the "historical drill data" are considered historical in nature and are based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify the historical data as current and TinOne is not treating the historical data as current. There can be no assurance that any of the historical drill data is representative.

Drill core and RC samples were shipped to ALS Limited in Brisbane, Australia for sample preparation and for analysis. The ALS, Brisbane facilities are ISO 9001 and ISO/IEC 17025 certified. Tin and tungsten are analysed by ICP-MS following lithium borate fusion (ALS method ME-MS85), overlimit results are reanalysed by XRF (ALS method XRF15b). Forty-eight element multi-element analyses are conducted by ICP-MS with a four-acid digestion (ALS method ME-MS61).

Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.

TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia . The Company is focussed on advancing its highly prospective portfolio while also evaluating additional tin opportunities. TinOne is supported by Inventa Capital Corp.

The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Dr. Stuart Smith ., Technical Adviser for TinOne. Dr. Smith is a Qualified Person as defined under the terms of National Instrument 43-101.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: the development of the Company's projects, including drilling programs and mobilization of drill rigs; future mineral exploration, development and production; the release of drilling results; and completion of a drilling program.

Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential for TinOne and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; TinOne's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect TinOne's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and TinOne has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on early stage mineral projects; metal price volatility; risks associated with the conduct of the Company's mining activities in Australia ; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although TinOne has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/06/c2989.html

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Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) is pleased to announce the addition of Johnathan A. More and Michael McLeod to the Company's Advisory Board.

Johnathan More brings over 28 years of experience in global capital markets focused primarily on natural resource industries. His distinguished tenure at Canaccord Genuity included many significant achievements and he retired in 2008 as Vice President and Advisor at the Company. Mr. More successfully transitioned from the capital markets to the public company sector where he has been responsible for numerous successful transactions in the Canadian marketplace and continues to identify and create new opportunities. He currently serves as Chairman & CEO of Starr Peak mining Ltd, a Canadian company focused on gold exploration. Mr. More is also Chairman and CEO of Power Metals Corp., a Canadian company focused on Lithium, Cesium and Tantalum exploration.

Mike McLeod has over 40 years of experience in the corporate financial services industry with a strong network in the capital markets. He has been a long term member of the Canadian Investor Relations Institute and Governance Professionals of Canada. Mr. McLeod has served as a global advisor and counseled many boards of directors and management teams on a wide range of topics including corporate governance, capital markets intelligence, M&A transactions, and shareholder engagement and communications. Mr. McLeod currently serves as a senior director at Morrow Sodali.

President and CEO John Gravelle states on behalf of our entire team, "I would like to welcome Johnathan and Mike to the Company. The management team of Foremost believe that both Jonathan's and Mike's extensive experience and knowledge will readily advance the progress of our many exciting projects and assist the company in meeting our strategic goals. Johnathan's working knowledge of the lithium exploration space will be invaluable to our Company, and Mike brings a demonstrative skill set in corporate governance, investor relations and overall strategic shareholder engagement. We look forward to utilizing their knowledge immediately."

The Company announced that that it had granted incentive stock options as per news release dated September 02, 2022, to purchase an aggregate of 1,000,000 common shares of the Company at an exercise price of $0.255 per common share expiring three years from the date of grant. A further 400,000 options will be granted and available to purchase at an exercise price of $0.275 per common share expiring three years from the date of grant, and are both subject to regulatory approval. The stock options are granted to certain officers, directors, consultants, employees, and advisors to the Company in accordance with the terms and conditions of the Company's Rolling Stock Option Plan and the policies of the Canadian Securities Exchange.

John Gravelle President and CEO, Foremost Lithium Resource & Technology

About Foremost Lithium Resource & Technology Ltd.

For further information please contact:

John Gravelle President and CEO Foremost Lithium Resource &Technology Ltd. Email: info@foremostlithium.com Phone: +1 (604) 330-8067

Twitter: @foremostlithium Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany Facebook: https://www.facebook.com/ForemostLithium

UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136019

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