Mr. Allan Frame reports

BEYOND LITHIUM DISCOVERS NEW SPODUMENE BEARING PEGMATITE ZONE AT EAR FALLS PROJECT IN NORTHWEST ONTARIO

Beyond Lithium Inc. has discovered a new spodumene-bearing pegmatite zone at its 206-square-kilometre Ear Falls project in Northwestern Ontario. Grab samples have assayed up to 4.54 per cent lithium oxide, and a minimum three-kilometre-long prospective trend has been identified. A highly fractionated sample located two kilometres northeast of the spodumene pegmatite zone establishes a minimum three-kilometre-long trend for spodumene-bearing pegmatite exploration.

Upon making this new discovery, Beyond Lithium strategically expanded the Ear Falls project from 3,375 hectares to 20,623 hectares (approximately 600-per-cent expansion) in area.

The Ear Falls project, previously referred to as the Wenasaga property, is located right outside of the town of Ear Falls, 70 kilometres south of Red Lake and 145 kilometres north of Dryden in Northwestern Ontario. Ear Falls has excellent infrastructure, including highway and logging road access, power lines, services, and local labour.

Lawrence Tsang, vice-president, exploration, for Beyond Lithium, commented: "This spodumene discovery is significant as it occurs within a 13-kilometre-long metasedimentary-granite structural corridor where there's opportunity for more discoveries as we ramp up exploration. We are targeting subparallel spodumene pegmatite dikes along the main metasedimentary-batholith structure and the major regional fault. Exploration on the eastern expansion of the project also provides an opportunity to search for a potentially identical geological system."

Mr. Tsang added: "Exploration at the Ear Falls project is ongoing, and we have already submitted an exploration plan with Ontario's Ministry of Mines to carry out a stripping and a drilling program to further delineate the spodumene pegmatites zone. The stripping and drilling program is targeted to commence in October."

Allan Frame, president and chief executive officer, commented: "This exciting news supports that new discoveries are possible outside of the remote regions of Northern Quebec and Ontario. With just three months into our 2023 exploration program, trying to cover all 64 projects with over 150,000 hectares in area, Beyond Lithium has made two major discoveries in Ontario: the Allen Graeme pluton at Cosgrave and this new high-grade spodumene-bearing pegmatites zone at the Ear Falls project. This early success shows the effectiveness of our exploration program. Many assay results remain to be received and announced, and we are confident in delivering additional positive results before the end of the year."

Mr. Frame added: "In a recent news release, I mentioned that it is important for our shareholders to keep in mind that while we are as anxious as they are to share all assay results as they come in, it is sometimes a better course of action to first consolidate our land position either through staking, optioning or both in certain districts. I am proud to report that this approach has allowed us to acquire 17,233 additional hectares around the discovery announced today at an average cash cost of $7.98 per hectare and the issuance of only 300,000 shares."

The finding of the spodumene pegmatite zone by Beyond Lithium at the Ear Falls project is a brand new discovery in this region. Beyond Lithium recognized the potential of this area and was able to stake most of the prospective open grounds around the original claims and consolidated additional claims from a few prospectors to assemble a contiguous project of 20,623 hectares in area.

The expansion has delineated two high-priority areas for exploration:

1. Explore along the main metasedimentary-batholith structure and the major regional fault and look for subparallel spodumene pegmatite dikes;
2. Explore for additional prospective structure along the newly mapped metasedimentary-batholith in the northwest and look for additional spodumene pegmatite dikes.

Background of the spodumene discovery

The phase 1 exploration program at the Ear Falls project was completed in June. The company has since updated the geology of the project and more significantly located the batholith-metasedimentary contact within the project as this contact is probably the preferential structure for LCT pegmatites. After discovering the spodumene pegmatite zone, Beyond Lithium's field team further explored along this metasedimentary-batholith contact and was able to locate three new beryl-bearing pegmatites.

Subparallel spodumene-bearing pegmatites along a minimum one-kilometre strike length were discovered along the main logging road of the Ear Falls project up to six metres wide in exposed outcrops. The spodumene pegmatites are hosted in both granite and metasediment trending generally at 40 to 60 degrees following the regional foliation with local variabilities. These spodumene pegmatites are covered by a thin layer of vegetation. A follow-up stripping program has been planned to include the removal of the overburden to further outline the true thickness and the density of these spodumene pegmatites.

Sampling and assay results

A total of 205 individual pegmatite outcrops have been mapped along the main structural corridor to date, and the company has collected 68 samples at the project. So far, 48 of the samples have received assays. From the 48 assays, four samples were taken from the spodumene pegmatite zone with Li2O ranging from 0.76 per cent to 4.54 per cent and cesium ranging from 32.83 parts per million to 68.97 parts per million. More samplings including channel sampling are planned on the beryl and the spodumene pegmatites by the end of September to early October to further outline the lithium-bearing zone.

A couple of samples, E00105586 and E00105888, were collected just metres away from the spodumene pegmatites in the granite and metasediment host rocks. These two samples in the host rocks show significantly elevated Cs, 134 ppm and 636 ppm, and Li, 408 ppm and 1,407 ppm, respectively. In addition, the Cs values in the host rock or the alteration halo of the spodumene mineralization (134 and 636 ppm Cs) are much higher than the Wenasaga Lake batholith (average of seven ppm Cs), implying the melt is highly enriched in incompatible rare elements and volatiles for the formation of lithium-bearing pegmatites, which has gone through a high level of fractionation. This geochem baseline in the host rock with elevated Cs and Li could be the alteration halo signature of the spodumene pegmatites at the Ear Falls project. This signature would be a great exploration tool for exploring blind target in the area.

Geological interpretation

Cesium versus K/Rb variation in samples is a common and convenient diagram to display the fractionation trend or the relative degree of evolution of S-type, peraluminous granites, related pegmatite granites and the rare element pegmatite groups that fractionated from the parent granitic rocks. With increasing fractionation of the pegmatite-forming melt, the compositions of the potassium feldspar and mica become more enriched in rubidium and cesium; thus, the fractionation trend points to the lower right corner in the plot as the higher fractionated area. By plotting up the K/Rb versus Cs values of the 48 completed assays, a distinctive fractionation trend progresses from the southwest to the northeast orientation with an increase in Cs and a decrease in K/Rb ratio. One sample, E00105574, is plotted in the higher fractionated quadrant of the plot, and this sample is located two kilometres northeast on trend of the spodumene zone.

Regional geological context

The Ontario Geological Survey's released collected data in 2002 and outlined a couple of 1.1-per-cent and 1.2-per-cent A/CNK ratio samples in the eastern expansion of the Ear Falls project, which suggested the presence of a nearby fertile pluton. Based on LCT pegmatite literature, a molecular ratio [Al2O3 divided by (CaO plus Na2O plus K2O)] is commonly used to indicate whether a sample or a stock/pluton is mildly peraluminous (A/CNK equals 1.0 to 1.1) or strongly peraluminous (A/CNK greater than 1.2). These mildly to strongly peraluminous A/CNK samples also coincide with an area of elevated deep lake sediment in lithium just situated northeast from the Ear Falls project. This eastern expansion could be a newer area to explore for a separate system than the new spodumene pegmatite zone associated with the Wenasaga Lake batholith and the Sandy Creek beryl pegmatite group.

Beyond Lithium acknowledges the effort and work performed by the project vendors, Bounty Gold Corp. and Last Resort Resources, that led to the first discovery of its kind around the fertile Wenasaga Lake batholith and provide a proof of concept for the methodology used to assemble for the 64 prospective projects. Notably, Beyond Lithium's Ogani Lake project is located just 30 kilometres northeast of the Ear Falls project and 65 kilometres west of Green Technology Metals' Root and McCombe lithium deposits. The Ogani Lake project was also recently expanded from 1,427 hectares to 5,177 hectares after beryl was found in several white tourmaline-muscovite pegmatites up to 10 metres wide during Beyond Lithium's phase 1 program.

Regionally, the Wenasaga Lake batholith was described as a S-type fertile pluton, which is likely the parental pluton of the Sandy Creek beryl pegmatites. The Sandy Creek beryl-bearing pegmatites that were discovered in the early 1960s are located seven kilometres southwest of the new spodumene pegmatite zone. Very limited to no exploration work was done in the area since the discovery of the Sandy Creek beryl pegmatites for over 60 years. Beyond Lithium recognized this area to be favourable for LCT pegmatites because there are a well-established Wenasaga Lake batholith as the potential source of LCT pegmatites of the area and the higher fractionated Sandy Creek beryl occurrence in the area that led Beyond Lithium's field crew to discover the new spodumene pegmatite zone.

Based on the geochem plot of the 2023 collected samples in comparison with the batholith and the Sandy Creek beryl pegmatites, the Wenasaga Lake batholith is likely the parental pluton of the new spodumene-bearing pegmatite zone. The batholith was mapped concordant to the Uchi-English River subprovincial boundary covering approximately 260 square kilometres in area. The Sandy Creek beryl-bearing pegmatites were noted to follow this regional foliation orientation of the host metasedimentary rock. This regional northeast structure is an ideal host and fluid pathway for the formation and fractionation of LCT pegmatites as most LCT pegmatite deposits in the world have some sort of structural control for their formation.

Quality assurance/quality control

All collected rock samples were put in sturdy plastic bags, tagged and sealed at site. Sample bags were then put in rice bags and kept securely before being sent by road transport or delivered by the crew supervisor to SGS's preparation facility in Red Lake or Sudbury, Ont., for sample preparation. Pulps are analyzed at the SGS facility in Burnaby, B.C. All samples are analyzed with four-acid digestion/combined ICP-AES/MS package (49 elements). Samples with a lithium overlimit (greater than 10,000 parts per million lithium) are analyzed with another four-acid digestion with a higher detection limit of up to 10 per cent Li. Batches of samples with an overlimit of greater than 10,000 ppm or 1 per cent Li are analyzed with sodium peroxide fusion for validation. The QA/QC protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS and CDN lithium standards to validate the accuracy and precision of the assay results.

Qualified person and third party data

The scientific and technical information in this news release has been reviewed and approved by Lawrence Tsang, PGeo, vice-president, exploration, of the company. Mr. Tsang is a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Beyond Lithium Inc.

Beyond Lithium is the largest greenfield lithium exploration player in Ontario with 64 high potential greenfield lithium properties totalling over 150,000 hectares. The company has adopted the project generator business model to maximize funds available for exploration projects while minimizing shareholder dilution. Beyond Lithium is advancing certain of its projects with its exploration team and will seek to option other properties to joint venture partners. Partnering on various projects will provide a source of non-dilutive working capital, partner-financed exploration and long-term residual exposure to exploration success.

Beyond Lithium currently has 28,259,658 common shares outstanding.

We seek Safe Harbor.