Mr. Lazaros Nikeas reports

BATTERY MINERAL RESOURCES CORP. ANNOUNCES INITIAL CLOSING OF PRIVATE PLACEMENT

Battery Mineral Resources Corp. has initially closed its previously announced non-brokered private placement offering pursuant to which the company issued an aggregate of 77,294,125 common shares of the company at a price of 20 cents per share for aggregate gross proceeds of $15,458,825.

The company intends to use the net proceeds of the private placement to support continuing operations and development activities at its Punitaqui copper mining complex in Chile, for working capital and for general corporate purposes.

In connection with the initial closing of the offering, the company paid an arm's-length party, EAS Advisors LLC, acting through Odeon Capital Group, LLC, a member of FINRA/SIPC/MSRB, an aggregate cash commission of $221,400 in compliance with applicable securities laws and TSX Venture Exchange policies.

The offering was conducted pursuant to applicable exemptions from the prospectus requirements under Canadian securities laws and from the registration requirements provided for under the U.S. Securities Act of 1933, as amended.

All securities issued pursuant to the offering are subject to a statutory hold period in accordance with applicable Canadian securities laws, expiring four months and one day following the closing date of the offering. The offering remains subject to the final acceptance of the TSX-V.

An insider of the company subscribed for a total of 50,090,500 shares under the offering. The insider's subscription is considered a related-party transaction of the company within the meaning of TSX-V Policy 5.9 (Protection of Minority Security Holders in Special Transactions) and Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is exempt from the formal valuation requirement in Section 5.4 and the minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on sections 5.5(a) and 5.7(a), respectively, as the fair market value of the offering, insofar as it involves the insider, is not more than 25 per cent of the company's market capitalization. The company did not file a material change report more than 21 days before the closing of the offering because the insider's participation was not finalized until closer to closing, and the company wished to close as soon as practicable for sound business reasons.

About Battery Mineral Resources Corp.

Battery Mineral Resources operates the Punitaqui mining complex, a historic copper, gold and silver-producing mine in the Coquimbo region of Chile. The company's portfolio also includes 100-per-cent-owned ESI Energy Services Inc. and North American mineral exploration assets. The company is focused on providing shareholders with accretive exposure to copper and the global trend of electrification while targeting growth through cash flow, exploration and acquisitions in favourable mining jurisdictions.

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