Mr. Martin Kostuik reports

BATTERY MINERAL RESOURCES CORP. EXTENDS CLOSING DATE ON ITS ANNOUNCED OFFERING OF UP TO US$6M IN UNSECURED CONVERTIBLE DEBENTURES

Battery Mineral Resources Corp. has extended the final closing date of its private placement of up to $6-million (U.S.) in senior unsecured convertible debentures, which was previously announced on Oct. 17, 2023.

The TSX Venture Exchange (the "TSXV") has approved an extension to the Private Placement to January 12, 2024. The proceeds from the Debentures will be applied towards working capital and the restart of copper concentrate production at its Punitaqui copper project in Chile (the "Restart"). Operational readiness activities continue as per schedule with the aim of full operational commissioning of the copper processing plant in March 2024 and plant start-up in April 2024. These activities include personnel recruitment, mining equipment deliveries, underground mine rehabilitation and copper processing plant repairs and upgrades.

The Company continues to progress towards securing the balance of the capital required for the Restart and, to date, has successfully raised US$3,285,000 (C$4,563,377) in Debentures. The Company estimates the total capital required for the Restart to be approximately US$13 million (approximately C$17.8 million) (prior to corporate costs and other asset holding costs and inclusive of amounts to be raised in the Private Placement). The Company looks forward to providing additional updates to the market in the coming weeks as we move Punitaqui back into sustainable, profitable production for all stakeholders.

Offering Terms (as previously disclosed)

The Debentures will mature on September 30, 2026 (the "Maturity Date") and will bear interest at 10% per annum, compounding annually on September 30 of each year, not in advance. Interest accrued from the date of issuance up to and including March 30, 2025, will be paid by way of issuance of common shares of the Company. Interest accrued following March 30, 2025, will be, at the option of the holder, paid either in cash or by way of issuance of common shares of the Company. The issuance of common shares as payment of interest will be at the then current market price of the Company's common shares at the date the interest becomes payable and will be subject to the prior acceptance of the TSXV and applicable securities laws.

The holder of a Debenture may, at their option, at any time from March 31, 2024, and prior to the close of business on the business day immediately preceding the Maturity Date, convert all, but not less than all, of the principal amount of such Debenture into common shares of the Company at the conversion price of US$0.22 per share (approximately C$0.30 per share).

All Debentures issued in the Private Placement are subject to a four month hold period under applicable Canadian securities laws and under the policies of the TSXV. The Private Placement is subject to final approval by the TSXV.

Exchange Rates

All USD amounts for which CAD equivalent amounts are given in this news release were calculated at CAD/USD exchange rate of 1.3871, the exchange rate published by the Bank of Canada on October 31, 2023.

MI 61-101 Matters

Weston Energy LLC and Weston Energy II LLC are "related parties" to BMR pursuant to pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Prior to giving effect to the transactions disclosed in this news release and in the refinancing transactions disclosed in the Company's press release dated October 17, 2023, Weston Energy LLC and Weston Energy II LLC and its affiliates owned or controlled (directly or indirectly) 107,578,740 BMR Common Shares on an undiluted basis and 122,491,305 BMR Common Shares assuming the conversion of all the Company's previously outstanding secured convertible debentures (representing approximately 60.60% and 63.31%, respectively, of the outstanding BMR Common Shares).

Disclaimers

The Debentures (including any issued in future closings) will be sold in a transaction exempt from registration under the Securities Act of 1933, as amended (the "Securities Act") and will be sold only to persons reasonably believed to be accredited investors in the United States under Rule 506 under the Securities Act and outside the United States only to non-U.S. persons in accordance with Regulation S under the Securities Act.

There can be no assurance that any future offerings of Debentures will be completed.

About Battery Mineral Resources Corp.

Battery Mineral Resources is a battery minerals company providing shareholders exposure to the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. Battery Mineral's mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, and copper), in North America, South America and South Korea and to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is currently pursuing a near-term resumption of operations of the Punitaqui Mining Complex, a past copper-gold-silver producer, in the Coquimbo region of Chile. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. (including ESI's wholly owned USA operating subsidiary, Ozzie's, Inc.), a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada and Arizona, USA. Battery Mineral Resources is based in Canada and its shares are listed on the Toronto Venture Exchange under the symbol "BMR" and on the OTCQB under the symbol "BTRMF". Further information about BMR and its projects can be found on www.bmrcorp.com.

We seek Safe Harbor.