Mr. Harry Chew reports

ARCTIC FOX ANNOUNCES MUTUAL TERMINATION OF REVERSE TAKEOVER TRANSACTION WITH MAKERSOUL

Arctic Fox Lithium Corp. has mutually agreed to terminate its non-binding letter of intent regarding a proposed business combination between the company and MakerSoul (Hong Kong) Ltd.

Each party will retain responsibility for its own costs and expenses incurred in connection with transaction. The company will repay to MakerSoul the $25,000 bridge loan advanced by MakerSoul to the company in connection with the transaction. The parties have entered into a mutual release relating to the transaction.

Arctic Fox will continue to evaluate other strategic opportunities and will provide updates as appropriate.

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 2,756-hectare Pontax North lithium project is located 12 kilometres south of Allkem Ltd.'s James Bay lithium project and 12 kilometres north of Stria Lithium Inc.'s Pontax lithium project, located in Northern Quebec, approximately 130 kilometres east of the Eastmain Cree Nation's community.

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