Mr. Paul Matysek reports

FUELING THE FUTURE: LITHIUM X LAUNCHES ON THE TSXV

Lithium X Energy Corp. has commenced trading on the TSX Venture Exchange under the ticker symbol LIX.

"I would like to thank everybody at the TSX-V, our financial and legal advisers, and our shareholders for contributing to a successful launch," commented Paul Matysek, executive chairman.

Lithium X is also pleased to announce the appointment of GeoXplor Corp. as exploration manager for its upcoming work program in Clayton Valley North, Nevada. Lithium X has increased its Clayton Valley land position by over 180 per cent through staking completed on its behalf by GeoXplor. Lithium X now holds approximately 4,360 acres (1,765 hectares) in the Clayton Valley.

"This is just the beginning for Lithium X," said Brian Paes-Braga, chief executive officer. "In a few short months we have secured a key land position adjacent to North America's only lithium producer, built a tremendous team, financed the company with exceptional shareholders and listed on the TSX-V. We are very excited about what we can accomplish in 2016."

The Lithium X claims are contiguous to private lands and placer claims belonging to Albemarle Corp., which operates North America's only lithium production facility, in operation since 1967. Historic drill information and a geophysical survey show the Lithium X properties cover basin fill sediments similar to those currently producing lithium brines for Albemarle.

GeoXplor is managed by prospectors Clive Ashworth and John Rud, who have been active in the Clayton Valley for the past eight years. GeoXplor operates Pure Energy Minerals' Clayton Valley South project, where they were instrumental in helping discover and identify an inferred resource of 816,000 tonnes of Lithium Carbonate equivalent (July, 2015, National Instrument 43-101).

Mr. Rud and Mr. Ashworth also control Clayton Valley Lithium Inc., which optioned the initial Clayton Valley North lithium claims group to Lithium X.

"We view the Clayton Valley North project as equally prospective to anything else in the valley," commented Mr. Rud. "We are pleased to be working with such a capable and energetic team in Lithium X to advance the development of the project."

Lithium X has also appointed Tucson-based mining executive Timothy Oliver, PEng, as the company's vice-president, project development. Mr. Oliver's role includes project management and oversight of all work programs, development studies and community relations activities.

"Tim joins us at a formative time for our company as we aim to rapidly advance our Clayton Valley lithium project, which has the potential to fuel future supply for the battery industry," commented Mr. Matysek. "His 38 years of experience as a specialist in mine project development engineering and environmental permitting is a tremendous asset to Lithium X."

Mr. Oliver's experience spans all stages of mine development, from exploration to closure. He holds a BS in environmental engineering from the New Mexico Institute of Mining and Technology (1976) and is a registered professional engineer in four U.S. states and in Alberta, Canada. Mr. Oliver spent over 15 years with producing companies including Magma Copper Company, Exxon Minerals and Phelps Dodge. Before joining the Lithium X team, Mr. Oliver practised engineering both independently and with firms such as M3 Engineering and Technology and Tetra Tech. Mr. Oliver is an NI 43-101-qualified person (QP) and has led or contributed to dozens of NI 43-101 studies for mine projects in North America and South America.

Mr. Matysek is a mining entrepreneur, professional geochemist and geologist with over 30 years of experience in the mining industry. Mr. Matysek was president and chief executive officer of Lithium One Inc., which developed a high-quality lithium project in northern Argentina. In July, 2012, Lithium One merged with Galaxy Resources of Australia in a $112-million plan of arrangement to create an integrated lithium company. Prior to Lithium One, Mr. Matysek was the president and chief executive officer of Potash One Inc. where he was the architect of the $434-million friendly takeover of Potash One by K+S Ag, which closed in early 2011. Prior to founding Potash One, Mr. Matysek was the founder, president and chief executive officer of Energy Metals Corp. (EMC), a uranium company traded on the New York Stock Exchange and Toronto Stock Exchange. Mr. Matysek led EMC as one of the fastest-growing Canadian companies in recent years, increasing its market capitalization from $10-million in 2004 to approximately $1.8-billion when acquired by a larger uranium producer in 2007. Mr. Matysek is currently chief executive officer of Goldrock Mines Corp.

Mr. Paes-Braga commented: "When we entered the lithium business we thought of who would be the best executive to join our management team. Paul Matysek's track record as a mining company builder and shareholder wealth creator put him at the top of our list. I am excited to learn from him and work closely with him in growing this venture. Lithium X co-founder Frank Giustra and I are incredibly pleased he has agreed to join the founding team."

Lithium X is finalizing plans for its 2016 first quarter exploration program at the Clayton Valley North project, and is actively evaluating potential technology and processing partners.

The company has 28,125,732 common shares issued and outstanding and 2,805,000 options with exercises prices ranging from 11 cents to 15 cents. Lithium X has approximately $2,473,250 in working capital.

The technical content of this news release has been reviewed and approved by Timothy Oliver, PEng, a qualified person as defined by NI 43-101.

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