File: '\\swfile\EmailIn\20251103 132238 Attachment ArcticFoxNR3Nov2025.docx'

Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3

Phone (604) 689-2646 Fax (604) 689-1289

November 3, 2025 Trading Symbol: CSE - AFX

FSE - O5K

/Not for distribution to U.S. news wire services or for dissemination in the United States/

ARCTIC FOX ANNOUNCES MUTUAL TERMINATION OF REVERSE TAKEOVER TRANSACTION WITH MAKERSOUL

VANCOUVER, BRITISH COLUMBIA (November 3, 2025) - Arctic Fox Lithium Corp. (CSE: AFX / FSE: O5K) (the "Company") Arctic Fox Lithium Corp. ("Arctic Fox" or, the "Company") announced that it has mutually agreed to terminate its non-binding letter of intent (the "LOI") regarding a proposed business combination (the "Transaction") between the Company and MakerSoul (Hong Kong) Limited ("MakerSoul").

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 Corp. 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 ("Pontax North") is located 12 km south of Allkem Ltd. (ASX/TSX:ALLKEM) ("Allkem") James Bay Lithium Project and 12 km north of Stria Lithium Inc.'s (CSE:SRA) Pontax Lithium Project, located in northern Quebec, approximately 130 km east of the Eastmain Cree Nation's community.

For further information, please contact:

Harry Chew, President, CEO

Phone: (604) 689-2646

On behalf of the Board of Directors,

"Harry Chew"

Harry Chew

President & CEO

Arctic Fox Lithium Corp.

Twitter: https://twitter.com/arcticfoxLi

LinkedIn: https://www.linkedin.com/company/arcticfoxlithium

Facebook: https://www.facebook.com/arcticfoxlithium

Instagram: https://www.instagram.com/arcticfoxlithium

YouTube: https://www.youtube.com/@arcticfoxlithium

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

Forward-Looking Information: Except for statements of historic fact this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan" "expect" "project" "intend" "believe" "anticipate" "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward- looking statements including but not limited to delays or uncertainties with regulatory approvals including that of the CSE, any approvals required at a meeting of shareholders and the ability for the parties to enter close the Agreement and proceed with the closing of the Proposed Transaction, and that the Agreement contains conditions as substantially set out herein. There are uncertainties inherent in forward-looking information including factors beyond the Company's control. There are no assurances that the business plans for Arctic Fox described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators which are available at www.sedarplus.ca

File: Attachment ArcticFoxNR3Nov2025.pdf

November 3, 2025 Trading Symbol: CSE - AFX FSE - O5K

/Not for distribution to U.S. news wire services or for dissemination in the United States/

ARCTIC FOX ANNOUNCES MUTUAL TERMINATION OF REVERSE TAKEOVER TRANSACTION WITH MAKERSOUL

VANCOUVER, BRITISH COLUMBIA (November 3, 2025) Arctic Fox Lithium Corp. (CSE: AFX / FSE: O5K) (the "Company") Arctic Fox Lithium Corp. ("Arctic Fox" or, the "Company") announced that it has mutually agreed to terminate its non-binding letter of intent (the "LOI") regarding a proposed business combination (the "Transaction") between the Company and MakerSoul (Hong Kong) Limited ("MakerSoul").

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 Corp. 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 ("Pontax North") is located 12 km south of Allkem Ltd. (ASX/TSX:ALLKEM) ("Allkem") James Bay Lithium Project and 12 km north of Stria Lithium Inc.'s (CSE:SRA) Pontax Lithium Project, located in northern Quebec, approximately 130 km east of the Eastmain Cree Nation's community.

For further information, please contact:

Harry Chew, President, CEO Phone: (604) 689-2646

On behalf of the Board of Directors,

"Harry Chew"

Harry Chew President & CEO Arctic Fox Lithium Corp.

Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3 Phone (604) 689-2646 Fax (604) 689-1289 Twitter: https://twitter.com/arcticfoxLi LinkedIn: https://www.linkedin.com/company/arcticfoxlithium Facebook: https://www.facebook.com/arcticfoxlithium Instagram: https://www.instagram.com/arcticfoxlithium YouTube: https://www.youtube.com/@arcticfoxlithium

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy

of this press release. Forward-Looking Information: Except for statements of historic fact this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan" "expect" "project" "intend" "believe" "anticipate" "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward- looking statements including but not limited to delays or uncertainties with regulatory approvals including that of the CSE, any approvals required at a meeting of shareholders and the ability for the parties to enter close the Agreement and proceed with the closing of the Proposed Transaction, and that the Agreement contains conditions as substantially set out herein. There are uncertainties inherent in forward-looking information including factors beyond the Company's control. There are no assurances that the business plans for Arctic Fox described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward- looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators which are available at www.sedarplus.ca

Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3 Phone (604) 689-2646 Fax (604) 689-1289