Mr. Allan Frame reports

BEYOND LITHIUM ANNOUNCES UNIT OFFERING FOR GROSS PROCEEDS OF UP TO $500,000, AMENDMENTS TO PROPERTY OPTION AGREEMENTS AND EXPLORATION PROGRAM UPDATE FOR COSGRAVE, EAR FALLS, AND VICTORY

Beyond Lithium Inc. has arranged (i) a proposed non-brokered private placement of up to 10 million units of the company at a price of five cents per unit for aggregate gross proceeds of up to $500,000; (ii) amended its existing property option agreements with Bounty Gold Corp. and Last Resort Resources Ltd.; and (iii) has provided on update on its exploration program for the Cosgrave, Ear Falls and Victory projects.

Unit offering

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder to purchase one common share in the capital of the company for a period of 24 months from the date of issue at an exercise price of 10 cents per common share.

Allan Frame, president and chief executive officer of Beyond Lithium, commented: "We are very pleased to announce today that we have signed an LOI [letter of intent] with our property optionors, once again exhibiting the merits of a friendly professional relationship, especially in this subdued environment for junior Canadian lithium explorers. We are also happy to announce field updates from four properties, including the three most advanced. We have judiciously spent flow-through dollars and are very encouraged by our results. We look forward to completing our proposed financing and providing more shareholder updates in the near future."

The company may pay finders' fees in connection with the offering in cash, shares, warrants or a combination thereof. All securities to be issued under the offering will be subject to a hold period of four months and one day from their date of issuance.

A portion of the offering may be completed pursuant to Blanket Order 45-501 -- Exemption from prospectus requirement for certain trades to existing security holders of the Manitoba Securities Commission and the corresponding blanket orders and rules in the other Canadian jurisdictions. The existing securityholder exemption is available in each of the provinces and territories of Canada.

Subject to applicable securities laws, the company will permit each person or company who, as of Sept. 30, 2024 (being the record date set by the company pursuant to the existing securityholder exemption), holds common shares as of that date to subscribe for the units that will be distributed pursuant to the offering, provided that the existing securityholder exemption is available to such person or company.

In the event that aggregate subscriptions for units under the offering exceed the maximum number of securities to be distributed, then units will be sold to qualifying subscribers on a pro rata basis based on the number of units subscribed for. Insiders may participate in the offering.

There is no material fact or material change of the company that has not been disclosed.

In addition to conducting the offering pursuant to the existing securityholder exemption, the offering will also be conducted pursuant to other available prospectus exemptions.

Assuming the offering is fully subscribed, the company intends to allocate the net proceeds for payments under existing property option agreements as described below, and for general corporate and working capital purposes. Actual allocation of the net proceeds may vary from the foregoing and if the offering is not fully subscribed. The company may allocate the net proceeds of the offering in such priority and proportions as the board of directors or management of the company determines is in the best interests of the company.

The company also announces that it has entered into debt settlement agreements with certain creditors of the company pursuant to which the company agreed to issue to the creditors, and the creditors agreed to accept, an aggregate of (i) 4,982,021 units at a price of five cents per unit in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $249,101.

The offered securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Amendments to property option agreements

The company has entered into a binding letter of intent with the optionors to further amend the terms of the company's existing mineral property option agreements with the optionors. Pursuant to the terms of the LOI, among other terms: (i) all cash payments under the option agreements will be deferred until an option in respect of a particular optioned property is fully exercised, prior to the expiry of the applicable option term; (ii) certain outstanding cash payments payable to the optionors totalling $215,650 will be settled by an issuance of common shares at a deemed price of five cents per share; and (iii) of the currently outstanding cash payments in the amount of $246,500 under the option agreement in respect of the company's Victory project, $155,250 will be paid in cash (from the proceeds of the offering) and $91,250 will be deferred until the option in respect of the Victory project is fully exercised, prior to the expiry of the option term.

Completion of the amendments remains subject to a number of closing conditions, including, the parties entering into definitive documentation setting forth the detailed terms and conditions of the amendments and completion of the offering on or prior to Oct. 18, 2024 (or such other date as the parties may agree upon), and standard closing conditions for transactions of this nature.

Beyond lithium provides 2024 exploration program update for Cosgrave, Ear Falls and Victory

Summary:

• The 2024 exploration program commenced in April;
• Collected 380 grab samples in the 2024 exploration program from the four primary projects with 25 per cent of samples pending assays:
  • Cosgrave project;
  • Ear Falls spodumene project;
  • Victory spodumene project;
  • Wisa project;
• Completed biogeochemical surveys at the Ear Falls (assays pending) and the Victory (assays received) projects;
• Received final XRD and TIMA report for the Ear Falls spodumene samples and started XRD analysis for the Cosgrave project;
• Channel sampled pegmatites at the Cosgrave project (assays received) and the Ear Falls' Sandy Creek Beryl West zone (assays pending).

Ear Falls spodumene project

Ear Falls spodumene project confirms spodumene as the dominant lithium-bearing mineral and over 96 per cent spodumene liberation and expanded the Wenasaga North zone:

• Initial mineralogical work completed at the Wenasaga North zone's spodumene-bearing pegmatites established a baseline of the characterization of the lithium pegmatite at Ear Falls:
  • XRD (X-ray diffraction) study for modal mineralogy confirming the main mineralogy of the spodumene-bearing pegmatites are quartz, feldspar (albite, microcline), muscovite and spodumene with accessory minerals (total less than 2 per cent) include chlorite, beryl, fluorapatite, biotite;
  • TIMA (quantitative evaluation of materials by scanning electron microscopy) study outlines over 96 per cent spodumene liberation;
  • This baseline study provides a fundamental viability of recovering or extracting spodumene at Ear Falls;
• 2024 field program extends and widens the trend of the Wenasaga North zone:
  • Outlined obvious area for infill sampling program and biogeochemical survey to follow up;
• Completed a trial biogeochemical survey (assays pending) at the Wenasaga North zone that can potentially be another exploration tool to uncover buried lithium mineralized pegmatites.

Cosgrave project

Cosgrave project confirms lithium mineralization with channel samples assayed up to 0.62 per cent Li2O (lithium oxide) over one m within a wider interval of 0.23 per cent Li2O over 6.90 m:

• Channel sampled a seven-metre-wide pegmatite:
  • Further stripping may widen the true width of the pegmatite;
  • Returned with 0.23 per cent Li2O and 235 ppm cesium (Cs) over 6.90 m:
    • Including 0.38 per cent Li2O and 272 ppm Cs over 3.10 m;
    • And 0.62 per cent Li2O and 227 ppm Cs over one m:
      • Channel samples are more representative samples than grab samples for analysing pegmatites as channel sampling is a continuous sampling method to examine the outcrop entirely with less selective sampling bias;
• Highly fractionated pegmatite with an average K/Rb (potassium/rubidium) ratio of 15 across the pegmatite:
  • Generally, pegmatites with the highest degree of fractionation have a K/Rb ratio of less than 30 (Breaks, 2004);
• Pegmatite is hosted in metasediment and is composed of feldspar, quartz, muscovite and alluaudite similar to the Tanco mine's mineralization (Cerny, 1996);
• XRD work in progress to identify the lithium mineral associated with the lithium mineralization from the highly fractionated pegmatite.

Victory spodumene project

Victory spodumene project identifies key indicators for exploring lithium mineralization:

• Lidar survey delineated a larger footprint of the Last Resort and the Bounty Gold spodumene-bearing pegmatites;
• Identified key and indicator minerals for pegmatites associated with lithium mineralization to narrow down exploration priority targets:
  • Quartz (quartz core), feldspar, muscovite, beryl, garnet and tourmaline;
  • Distinguished two generations of pegmatites in the area to optimize exploration in the field;
• Identified a larger footprint of the Medicine Lake pluton based on field mapping, lidar survey and airborne magnetic survey:
  • The Medicine Lake pluton is interpretated as the fluid source of the pegmatites and the lithium mineralization in the area;
• Biogeochemical tree bark survey shows promising results as an efficient exploration tool to explore for buried lithium mineralization.

Quality assurance/quality control (QA/QC)

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 were analyzed at the SGS facility in Burnaby, B.C. All samples were analyzed with four-acid digestion/combined ICP-AES/MS package (49 elements). Samples with lithium overlimit (over 10,000 parts per million (ppm) lithium (Li)) are analyzed with another four-acid digestion with higher detection limit of up to 10 per cent Li. Batches of samples with overlimit over 10,000 ppm or 1 per cent Li were 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.

All tree bark samples were collected from spruce trees of roughly the same size to standardize sample collection. Tree bark was collected using the plastic drywall scraper to scrape the dry outer bark off the trunk of the tree and using the dustpan to catch the bark fragments. Each sample is collected to fill a brown kraft soil sample bag; ideally 100 grams of bark would be collected per each sample. Samples were prepared at the SGS's preparation facility in Red Lake, Ont., for sample preparation. Pulps are analyzed at the SGS facility in Burnaby, B.C. All samples were analyzed with four-acid digestion/combined ICP-AES/MS package (49 elements).

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 of exploration of the company. Mr. Tsang is a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects). The potential grades of exploration targets disclosed in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

About Beyond Lithium Inc.

Beyond Lithium has a large greenfield lithium exploration portfolio in Ontario with 23 high-potential greenfield lithium properties totalling over 103,000 hectares including two spodumene discoveries, the Ear Falls spodumene project and the Victory spodumene project, and one lithium-bearing pluton discovery, the Cosgrave project. 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.

We seek Safe Harbor.