Mr. Allan Frame reports

BEYOND LITHIUM ANNOUNCES COMPLETION OF AMENDMENTS TO OPTION AGREEMENTS, DEBT SETTLEMENT TRANSACTIONS & PROVIDES UPDATE ON PRIVATE PLACEMENT

Further to the proposed transactions announced in Beyond Lithium Inc.'s news release dated Oct. 1, 2024, it has now entered into definitive agreements with: (i) Bounty Gold Corp. and Last Resort Resources Ltd. (collectively, the optionors) to amend the terms of its existing property option agreements with the optionors; and (ii) 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 6,802,227 common shares of the company at a deemed price of five cents per share and 2,807,603 common share purchase warrants in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $340,111.36 (the debt settlement). 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 issuance at an exercise price of $0.10 per share.

Pursuant to the amendments, among other terms: (i) all cash payments under the company's existing option agreement with the optionors will be deferred until an option in respect of a particular optioned property is fully exercised, subject to the requirement that 10 per cent of any funds raised by the company under qualified financings shall be applied to any accrued and outstanding option payments; (ii) certain outstanding cash payments payable to the optionors totalling $129,900 will be settled by an issuance of common shares at a deemed price of five cents per share; and (iii) certain options in respect of properties optioned from the optionors under the option agreements have been terminated.

Allan Frame, president and chief executive officer of Beyond Lithium, commented: "With the completion of the amendments and the debt settlement, we can now turn our attention to diversifying our property portfolio by adding projects within the critical mineral space such as copper."

The company is further pleased to announce that it expects to complete the 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, previously announced on Oct. 1, 2024, at the end of December.

All securities to be issued under the amendments, the debt settlement and the offering will be subject to a hold period that will expiry on May 1, 2025.

The company has issued an aggregate of 4,544,206 common shares and 2,272,103 warrants pursuant to the debt settlement to certain related parties of the company (the interested parties), in each case constituting, to that extent, a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Securityholders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the interested parties in the debt settlement in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the debt settlement nor the securities issued in connection therewith, in so far as the debt settlement involves the interested parties, exceeds 25 per cent of the company's market capitalization. The company did not file a material change report more than 21 days before the expected closing of the debt settlement as the details of the debt settlement and the participation by the interested parties therein were not settled until recently and the company wishes to close the transaction on an expedited basis for sound business reasons.

About Beyond Lithium Inc.

Beyond Lithium has a large greenfield lithium exploration portfolio in Ontario with 27 high-potential greenfield lithium properties totalling over 119,000 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.

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