Mr. Harry Chew reports

ARCTIC FOX LITHIUM CORP. ARRANGES A NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH AND NON-FLOW-THROUGH UNITS

Arctic Fox Lithium Corp. has arranged a non-brokered private placement of up to three million flow-through units (FT units) at a price of two cents and up to seven million non-flow-through units (NFT units) at a price of 1.5 cents to raise gross proceeds of up to $60,000 and $105,000 respectively.

The FT units will be composed of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company for a period of 24 months from the closing date at an exercise price of five cents. Proceeds from the exercise of the common share purchase warrants comprising part of the FT units will not be eligible for flow-through expenditures. The company will seek from the Canadian Ministry of Natural Resources certification for flow-through eligibility and intends to use the gross proceeds from the sale of the flow-through shares to incur exploration expenses that are eligible Canadian exploration expenses (as such term is defined in the Income Tax Act (Canada)) on the company's portfolio of lithium projects in the James Bay region of Quebec, which will also qualify for the Canadian government's critical minerals exploration tax credit.

The NFT units will be composed of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company for a period of 24 months from the closing date at an exercise price of five cents. The company intends to use the proceeds from this portion of the private placement to make option payments on its various mineral projects and for general working capital.

All securities issued from both the FT units and NFT units will be subject to a four-month-and-one-day hold period from the closing date. The company may pay finders' fees in connection with the issuance of the FT units and the NFT units.

About Arctic Fox Lithium Corp.

Arctic Fox Lithium is a junior mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals.

The company's 2,859-hectare Pontax North lithium project is located 12 kilometres south of Allkem Ltd.'s James Bay lithium project (proven and probable reserves of 37.3 Mt (million tonnes) at 1.27 per cent Li2O (lithium oxide); measured and indicated resources of 54.3 Mt at 1.30 per cent Li2O -- National Instrument 43-101 technical report dated Sept. 29, 2023) and 12 km north of Stria Lithium Inc.'s (CSE: SRA) Pontax lithium project (non NI 43-101 conformable inferred resource of 10.1 Mt at 1.04 per cent Li2O -- Stria press release dated Aug. 14, 2023), located in Northern Quebec, approximately 130 km east of James Bay and the Cree Nation's Eastmain community.

The northern portion of Pontax North contains a lithium prospective zone in a similar geological environment to Allkem's project. The Causabiscau suite which hosts the Cyr lithium deposit is indeed characterized by the abundance of S-type granitic pegmatite, a lithology known for its Be (beryllium), Li (lithium), Cs (cesium), Nb (niobium) and Ta (tantalum) potential. Beryl (a beryllium silicate mineral) has been reported by Quebec MERN geologists in several outcrops within this zone. The Causabiscau suite appears strongly underexplored despite its recognized lithium potential.

The technical information contained within this News Release has been reviewed and approved by Benjamin Mougin, PGeo, MSc, and qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.