Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is very pleased to share that drilling has commenced at Urgakh Naran and the site visit previously announced is set to occur later this month.

"Yet another exciting breakthrough for the company as we continue to deliver on our promise to investors with respect to upcoming catalysts, allowing us to better understand and surface the value of Urgakh Naran. The site visit later this month will include Technical experts, potential Strategic Partners and myself; a pivotal moment for the company and our shareholders. We look forward to pressing ahead with the work onsite which will include 3 monitoring wells and ultimately, an inferred resource calculation before the end of 2022," said Ali Haji, CEO & Director of Ion Energy.

The monitoring wells are being completed by Ion Energy alongside our hydrogeological drilling contractor. The Company will be logging all core samples, ensuring the core remains wrapped in plastic, photographed and stored appropriately. Brine samples will be collected according to the industry standard, assayed and shared with the market as available.

Diamond core drilling has commenced at Urgakh Naran, core will be collected for assaying and porosity testing.

Figure 1: Low Resistivity Zone shown with lines 1 through 9, as well as locations of the holes being drilled onsite.

To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/6906/137279_30b6effb04d27b27_002full.jpg

Figure 2: Diamond Core Drill Rig on site at Urgakh Naran.

To view an enhanced version of Figure 2, please visit: https://images.newsfilecorp.com/files/6906/137279_30b6effb04d27b27_003full.jpg

Figure 3: Core samples collected at Urgakh Naran.

To view an enhanced version of Figure 3, please visit: https://images.newsfilecorp.com/files/6906/137279_30b6effb04d27b27_004full.jpg

To learn more about what is in store for Ion Energy this Fall, join us for our upcoming Fall Exploration Update on Thursday, September 22, 2022 at 12 pm EST. Registration link is HERE.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137279

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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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134827

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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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130471

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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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125298

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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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123421

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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") is pleased to announce, further to its news release dated September 7, 2022, that it has closed its non-brokered private placement (the "Offering "), having issued 22,141,496 units (each a "Unit ") at a price of $0.175 per Unit, for gross proceeds of $3,874,761.80.

Each Unit is comprised of one common share of the Company (a " Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant "), with each Warrant entitling the holder to acquire one Share at a price of $0.35 until September 16, 2024, 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 for 10 consecutive trading days, then the expiry date of the Warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the Warrant holders.

In connection with the Offering, the Company also paid finders fees in the aggregate of $145,580.75 in cash and 760,490 non-transferable broker warrants (a " Broker Warrant "). Each Broker Warrant is exercisable into one Share at an exercise price of $0.35 until September 16, 2024, provided that if the volume weighted average trading price of the Shares on the CSE is at a price greater than $0.70 for 10 consecutive trading days, then the expiry date of the Warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the Broker Warrant holders.

The Company intends to use the net proceeds raised from the Offering for funding the drilling of its projects, property payments and general working capital.

All securities issued in the Offering are subject to a statutory four month hold period in accordance with the policies of the CSE and applicable securities laws.

None of the securities to be issued in the Offering have been or will be registered under the United States Securities Act of 1933, as amended (the " 1933 Act "), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.

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 planned use of proceeds . 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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Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide an update on the Innovation Metals Corp.[i] ("IMC") RapidSX™ rare earth element ("REE") separation technology platform and the Company's commercial Strategic Metals Complex ("SMC") technology deployment process (the "Program"). The work is taking place at the companies' laboratory partner's (Kingston Process Metallurgy Inc. ("KPM")) facility in Kingston, Ontario, Canada.

The Program was enhanced after Ucore received the independent evaluation of the RapidSX™ technology platform leading to the subsequent July 12, 2022, announcement of the nearly 3X increase in scope of the RapidSX™ REE demonstration-scale plant ("Demo Plant"). Since then, the Ucore, IMC, KPM, and Mech-Chem Associates, Inc.[ii] ("Mech-Chem") commercialization team (the "Team") has made significant strides in the procurement and construction process for the Demo Plant.

The final engineered layout of the Demo Plant takes up nearly all of the 5,000 square foot Commercialization and Demonstration Facility ("CDF") at KPM. And the concept of building a plant within an existing building is the go-forward transition template for the engineering process that the Team will replicate to create the first full-scale SMC, once the brownfield site[iii] selection process is finalized. This initial SMC is scheduled to produce 2,000 tonnes of total rare earth oxides ("TREOs") by the end of 2024 and 5,000 tonnes by 2026.

Figure 1 - Engineered Design of the Currently Under Construction 51-Stage RapidSX™ REE Demo Plant

To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/1119/137284_ffcfc5cec4a3a9a7_001full.jpg.

"The CDF Team, and the rest of the world, is facing extraordinary supply chain challenges regarding equipment and component availability," stated Mike Schrider, P.E., Ucore's VP and COO. "Despite this situation,we have managed to procure the initial feedstocks and virtually all of the required major equipment and components, and the Demo Plant remains on track for a late 2022 commencement of the commissioning process."

"This process will demonstrate the unprecedented North American separation of tonnes of both heavy and light rare earth elements. It will then continue with end-user qualification trials throughout 2023 for Western entities seeking diversified and sustainable metallic supply chains as Ucore transitions to full-scale commercial mode with the construction of our first SMC."

Ucore's REE Separation Demo Plant is designed to:

Have the ability to process tens of tonnes of mixed rare earth concentrates on a per annum basis:

from a wide variety of feedstock sources, including the heavy REE ("HREE") and light REE ("LREE") feedstocks planned for the full-scale SMCs.

Be capable of processing all RapidSX™ splits required to produce individual praseodymium, neodymium, terbium, and dysprosium.

Have a parallel 51-stage conventional solvent extraction ("CSX") mixer/settler circuit that will match the RapidSX™ process' configuration and enable direct head-to-head comparison of the performance of RapidSX™ vs. CSX.

Figure 2 - A Sampling of the On-hand CDF Components and Construction Efforts

To view an enhanced version of Figure 2, please visit: https://images.newsfilecorp.com/files/1119/137284_ffcfc5cec4a3a9a7_002full.jpg.

Ucore stands alone in its speed of executing the commercial deployment of one of the first modern technology platforms for separating HREEs and LREEs - as a replacement for CSX. Mech-Chem is now fully integrated into all CDF activities and is aligned to assist with the full-scale SMC techno-economic assessment and engineering data transfer. The efficiencies and environmental advantages resulting from the CDF demonstration processes are, and will continue to be, directly incorporated into the full-scale SMC engineering design packages. This integrated process is rapidly positioning Ucore to meet the demanding schedule requirements for the development of the first SMC and REO production for the Company's emerging list of prospective downstream partners.

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has an effective 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this includes disrupting the People's Republic of China's control of the US REE supply chain through the near-term development of heavy and light rare-earth processing facilities - including the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

IMC developed the RapidSX™ separation technology platform with early-stage assistance from the United States Department of Defense ("US DoD"), later resulting in the production of commercial-grade, separated rare-earth oxides at the pilot scale. RapidSX™ combines the time-proven chemistry of conventional solvent extraction ("SX") with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth-element ("REE") industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX™ is not a "new" technology but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

In regard to the disclosure in the "About Ucore Rare Metals Inc." section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the Alaska SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

Mark MacDonald Vice President, Investor Relations Ucore Rare Metals Inc. 1.902.482.5214 mark@ucore.com

[i] Innovation Metals Corp. is a private Canadian corporation and a wholly owned Ucore subsidiary. [ii] Mech-Chem Associates, Inc. is the full-scale SMC engineering company. [iii] In this context, a brownfield site is a suitable existing commercial building/site that has been previously permitted for industrial use.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137284

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Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSX.V:CRE) (US OTCQX:CRECF) (FSE:F12) is pleased to announce that at its Annual shareholders meeting (the "Meeting") held on September 13, 2022, shareholders of the Corporation approved all the resolutions, as follows

About Critical Elements Lithium Corporation

Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. On June 13th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; The Corporation is working to obtain similar approval under the Québec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.

For further information, please contact:

Patrick Laperrière Director of Investor Relations and Corporate Development 514-817-1119 plaperriere@cecorp.ca www.cecorp.ca

Jean-Sébastien Lavallée, P.Geo. Chief Executive Officer 819-354-5146 jslavallee@cecorp.ca www.cecorp.ca

SOURCE:Critical Elements Lithium Corporation

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TTL is now ready to process high-grade mineralized material and tailings from nearby mines into silver dore bars.

Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that its 100%-owned Temiskaming Testing Labs (TTL) high-grade processing plant, that has zero discharge, is fully operational and ready for processing the high-grade mineralized material from the Cobalt Camp into silver dore bars as it was originally designed to do.

"We have rebuilt the TTL facility, including upgrades to the secondary crushing circuit and installation of a new gravity plant. TTL is now ready to begin the processing of high-grade mineralized material and tailings from mining properties in the area, including tailings from the Company's past-producing Beaver Mine and Castle Mine. This is another important step in building our capability as a fully integrated mining operation right through to the production of silver dore bars," stated CEO Frank J. Basa, P.Eng.

The 20,000-square-foot TTL facility is located in the Town of Cobalt, Ontario, in the centre of the historic Cobalt Mining Camp where 600 million ounces of silver and 30 million pounds of cobalt were produced during the 1900s. The facility was originally established in its current location by the Ontario government in 1941 as a public service facility offering laboratory services, high-grade ore processing and a bullion furnace to nearby mining operations. It was used by companies such as Agnico Eagle and Teck in their early days of silver mining operations in the area to pour in excess of two million ounces silver annually in silver dore bars. Using TTL's bullion furnace, Canada Silver Cobalt poured three silver dore bars from Castle Mine waste material as a proof-of-concept test in 2019.

Canada Silver Cobalt completed the purchase of the TTL facility from a private operator in 2020. Since then, it has conducted a number of test runs and completed the commissioning of the secondary crushing circuit. As a result, TTL has a complete crushing and screening high-grade processing plant with a 20-tonne-per-hour capacity for high-grade mineralized feed from mining operations in the area (see news release September 8, 2021).

In addition, the Company recently installed a new gravity plant at TTL that is closed loop with a water recycle step (see news release January 18, 2022). The two-stage gravity plant, which is designed to operate at 24 tonnes per day, is now fully commissioned and includes a spiral concentrator feeding the concentrate to a conventional gravity table. A supplementary Falcon high-grade gravity concentrator is currently being installed.

The Company intends to use TTL for processing high-grade mineralized material from its Castle and Beaver mines as well as from the Castle East high-grade silver deposit when it has access to the high-grade veins there through the building of a ramp which is currently in the planning stage.

The technical information in this news release was reviewed and approved by Frank J. Basa, P.Eng., a qualified person in accordance with National Instrument 43-101.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.

In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.

The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed an almost 15,000-metre drill program on the Graal property and an airborne VTEM geophysical survey is being conducted at its Lowney-Lac Edouard property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it is is exploring in 2022.

Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com.

"Frank J. Basa" Frank J. Basa, P. Eng. Chief Executive Officer

For further information, contact: Frank J. Basa, P.Eng. Chief Executive Officer 416-625-2342

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

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 release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137068

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LithiumBank Resources Corp. ( TSX-V: LBNK ) (OTCQX:LBNKF) (" LithiumBank " or the " Company ") is pleased to provide an update on its lithium-brine land holdings in Alberta and Saskatchewan.

LithiumBank has increased its land position over the past month by over 530,000 acres with a strategic focus on Fox Creek, Leduc reef area (Figure 1). Additional Metallic and Industrial Mineral (MIM) Permits were acquired directly from the government of Alberta. The total MIM permits (Alberta), and Mineral leases (Saskatchewan) currently held by LithiumBank are 3.77 million acres, or 1.52 million hectares as shown in Table 1 and Figure 1. The additional permits give LithiumBank a dominant land position in the Fox Creek area, for a total of 1,361,007 contiguous acres.

The Fox Creek land acquisition is strategic for LithiumBank as the Leduc Carbonate Reef Complex (Woodbend Group) and the underlying Swan Hills Carbonate Complex (Beaverhill Lake Group) have historically been known to host the highest grades of lithium-in-brine concentrations in Alberta. Historical samples collected by multiple petro-operators and donated to the Alberta Geological Survey, range from 76 mg/l to 130 mg/l lithium (Figure 2) are located within LithiumBank's Fox Creek Metallic and Industrial Mineral permit area. These samples are considered historic and have not been verified by a Qualified Person (QP) under the latest NI 43-101 Standards of Disclosure and cannot be relied upon and thus the Company is not treating the historical estimate as current mineral resources or mineral reserves. LithiumBank expects to implement a systematic exploration and development program that is well established within the Company from work completed on the Boardwalk Project, in the Sturgeon Lake area located only 50 km to the north of the Fox Creek Property. LithiumBank will continue to make announcements as news becomes available as Fox Creek is explored and developed in parallel to the Boardwalk Project.

The Fox Creek area was the focus of a study, authored by D.R. Eccles and H. Berhane, entitled "Geological Introduction to Lithium-Rich Formation Water with Emphasis on the Fox Creek Area of West-Central Alberta (NTS 83F and 83K)" ( https://ags.aer.ca/publication/ofr-2011-10 ). The report highlights significant lithium potential in three different formations, the Nisku (Winterburn), Leduc (Woodbend), and Swan Hills (Beaverhill Lake Group) and are supported by historical lithium brine samples that range from 76 mg/l to 130 mg/l lithium in these formations.

The Company has also acquired a strategic land position in the Peace Arch area of northern Alberta totalling 73,610 acres (Figure 1). The four MIM permits over a portion of the Leduc Reef complex, have historically been one of the most prolific producers of hydrocarbons for several decades. The permits cover a strike length of 30 km of the Leduc with abundant oil and gas infrastructure. LithiumBank is currently evaluating the next steps for this property.

As previously disclosed, a total of 326,459 acres of Saskatchewan Brine Mineral Leases were acquired by way of auction through the Saskatchewan government between August and December of 2021. Acquisitions in Saskatchewan are in areas where there is known grades of lithium in brine that are of interest. LithiumBank has engaged Matrix Solutions Inc. to conduct a hydrogeological study on the Companies Brine Mineral Leases. Results of the study are expected next quarter.

Rob Shewchuk, CEO states, " We are very proud to conclude our 3-year staking and acquisition strategy in Western Canada with the goal to aggregate the largest land position in areas we believe to have the most commercial potential for large scale lithium brine production. We have successfully consolidated the Sturgeon Lake complex for our Boardwalk Project and obtained the vast majority of the Mineral Permits in the prospective Fox Creek area. We have also acquired mineral leases at auctions in Saskatchewan in 2021. LithiumBank is very excited to commence next steps to evaluate our Fox Creek and Saskatchewan properties leveraging the strong technical foundation gained from our work with Hatch, Apex and Matrix Solutions on our Boardwalk Lithium Brine project that is expected to produce a PEA in Q4."

Table 1. LithiumBank Mineral Permit and Lease Holdings

Figure 1. Map of All LithiumBank' Mineral Permits and Leases

Figure 2. LithiumBank' Fox Creek MIM Permits with Historical Samples

The scientific and technical disclosure in this news release has been reviewed and approved by Mr. Kevin Piepgrass (Chief Operations Officer, LithiumBank Resources Corp.), who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC) and is a Qualified Person (QP) for the purposes of NI 43 101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.

LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.7 million acres of mineral titles, 3.44M acres in Alberta and 326K acres in Saskatchewan. LithiumBank's mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel of the Boardwalk Lithium Brine Project.

Robert Shewchuk CEO & Director rob@lithiumbank.ca (778) 987-9767

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 release .

Cautionary Statement Regarding Forward Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the expectation that the Company will implement a systematic exploration and development program in the Sturgeon Lake area located 50 km to the north of the Fox Creek Property is a forward-looking statement and contains forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "believe", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will implement a systematic exploration and development program in the Sturgeon Lake area located 50 km to the north of the Fox Creek Property. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not implement a systematic exploration and development program in the Sturgeon Lake area located 50 km to the north of the Fox Creek Property as expected by management or at all. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, 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. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ab369fd0-fffa-4773-826b-1810c4564003

https://www.globenewswire.com/NewsRoom/AttachmentNg/7326efe3-ae40-47f0-b8b4-def905f9f4b7

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Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce that Voyager Metals Inc. (TSXV:VONE) ("Voyager") has filed a Preliminary Economic Assessment ("PEA") of the Mont Sorcier iron and vanadium project ("Mont Sorcier") located near Chibougamau, Quebec, Canada, on SEDAR

Electric Royalties holds a 1% gross metal royalty on vanadium production at Mont Sorcier, which is projected to have a 21-year operating mine life. If the anticipated project is placed in production as set out in the PEA, the Company estimates that for the life of mine, average annual royalty revenues of US$750,000 to US$1.5 million per year, based on the US$15 to US$30 per tonne vanadium credits forecast in the PEA, may be payable.

Brendan Yurik, CEO of Electric Royalties,commented: "We are pleased with the results of the PEA that forecasts robust economics based on the Indicated Resources of Mont Sorcier's North Zone only. This leaves significant upside potential from the conversion of Inferred Resources in the future. The project is well positioned to leverage the production of premium high-grade magnetite iron concentrate with valuable vanadium credits. Further, the advantageous infrastructure may help to shorten the development timeline. We look forward to additional favourable news from Voyager as it continues work on the feasibility study expected in Q1 2023 to bring Mont Sorcier to a formal development decision."

Highlights of the PEA (all dollar values are in US dollars unless otherwise stated)1:

Iron and Vanadium Pricing Market Study

Voyager commissioned an Independent Market Pricing Study in 2019 to determine the potential value of the vanadium-rich iron product produced by Mont Sorcier, given the lack of available quoted market index prices. The study reviewed main iron index price forecasts as well as estimates of the applicable vanadium credits. The study reviewed a value-in-use methodology based upon a review of the grade and concentrate chemistry from Mont Sorcier relative to other similar iron products. The study concluded that the concentrate from Mont Sorcier should receive a $15 per tonne premium to the Platts 65 price iron index for the contained vanadium credits (based on a net attributable value using a long-term V2O5 price of $7.25 per pound).

Mont Sorcier iron and vanadium concentrate is a high grade, low impurity product. The silica level is slightly lower than that of the Platts 65 benchmark, however due to low alumina and phosphorus content, it is considered a high purity iron and vanadium concentrate. This should attract improved pricing providing that customers (steel plants) that will benefit from the absence of these elements are targeted. The fine particle size may result in a customer discount depending on the market; however, the magnetite content (and decreased sintering/pelletizing costs) could partially or completely offset the possible penalty. Based on the various market studies and analyst forecasts for iron ore fines and high iron grade (65%) of Mont Sorcier concentrate and vanadium credits, a long-term price of $135 per tonne of concentrate (with freight to China) was selected for use in the PEA.

Mont Sorcier is located approximately 18 km east of Chibougamau, Quebec, in a region with a long history of mining and established infrastructure to support future development. Mont Sorcier has access to all season roads, low-cost provincial hydropower and is within 50 km of rail connection to two all season, ocean-going ports. The railway runs approximately 370 km to the Port of Saguenay which is currently underutilized and can provide sufficient capacity for the project needs.

The PEA is preliminary in nature and includes Mineral Resources that are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that the PEA will be realized.

David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.

Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.

Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.

Electric Royalties has a growing portfolio of 20 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.

For further information, please contact:

Brendan Yurik CEO, Electric Royalties Ltd. Phone: (604) 364‐3540 Email: Brendan.yurik@electricroyalties.com www.electricroyalties.com

Scott Logan Renmark Financial Communications Inc. Phone: (416) 644-2020 or (212) 812-7680 Email: slogan@renmarkfinancial.com www.renmarkfinancial.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.

1 Technical report titled "NI 43-101 Technical Report Preliminary Economic Assessment (PEA) for the Mont Sorcier Project - Quebec, Canada" with an effective date of September 8, 2022, available under Voyager Metals Inc.'s profile on Sedar.com. The PEA for Mont Sorcier has been conducted based upon the Mineral Resource Estimate completed by InnovExplo and filed by Voyager on July 22, 2022, using only the Indicated Resource in the North Zone. The PEA forecasts a robust economic assessment for Mont Sorcier based upon a traditional open pit mining scenario with magnetic separation processing and a reverse flotation circuit to produce approximately 5.0 million tonnes per annum of low sulphur, vanadium rich iron concentrates, with low levels of impurities. Based on test work to date, this material is amenable for blast furnace use in either China or Europe. The Mineral Resource Estimate follows current CIM Definition Standards. The Mineral Resource Estimate is locally pit-constrained for potential open-pit extraction method with a bedrock slope angle of 50° and an overburden slope angle of 30°. It is reported at a rounded cut-off grade of 2.30 % Weight Recovery. The cut-off grade was calculated for the concentrate using the following parameters: royalty = 3%; mining cost = CA$3.30; mining overburden cost = CA$2.45; processing cost = CA$3.62; G&A = CA$0.75; selling costs = CA$58.36; Fe price = CA$190/t; USD:CAD exchange rate = 1.3; and mill recovery = 100% (concentrate). The cut-off grades should be re-evaluated considering future prevailing market conditions (metal prices, exchange rates, mining costs etc.).

Cautionary Statements Regarding Forward-Looking Information and Other Company Information

This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information.Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.

While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.

The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com and at otcmarkets.com.

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