Mr. Jim Nelson reports

CRUZ PHASE-5 DRILL PROGRAM EXPECTED TO BEGIN SHORTLY ON THE SOLAR LITHIUM PROJECT IN NEVADA, DIRECTLY BORDERING AMERICAN LITHIUM CORP.

Cruz Battery Metals Corp. is currently formulating a phase 5 drill program to begin shortly on the 100-per-cent-owned, 8,135-acre Solar lithium project in Nevada, directly bordering American Lithium Corp.'s TLC project. To date, the company has discovered lithium in all 14 completed drill holes throughout the first four phases of drilling.

Frank Bain, the on-site project geologist, qualified person and a director of Cruz Battery Metals, stated: "The phase 4 drill program confirmed that the mineralization is open in all directions. The phase 5 drill holes have been permitted and will test for lithium mineralization both north, west and south of the phase 4 drill sites. Drilling is expected to recommence shortly."

The Solar lithium project directly borders American Lithium's TLC project. On Jan. 17, 2023, American Lithium announced a resource estimate, in an independent National Instrument 43-101 titled "Technical Report TLC Property," prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 8.83 million tonnes lithium carbonate equivalent (LCE) measured and indicated with another 1.86 million tonnes LCE inferred. Cruz Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the company's properties.

Jim Nelson, president of Cruz Battery Metals, stated: "The upcoming phase 5 drill program will be Cruz's third drill program of the 2023 calendar year on the Solar lithium project. Management is pleased that the phase 4 drill program expanded the known lithium footprint on this project and we now look to build upon this recent success by starting our phase 5 drill program shortly. Cruz is one of the largest landholders in the Big Smoky Valley of Nevada, directly bordering American Lithium, and we've still only explored a small fraction of the property. Cruz is well funded, and we anticipate generating our maiden resource estimate immediately following the completion of the phase 5 drill program on the 8,135-acre Solar lithium project. The remainder of 2023 will be very active as we enter a period of increased news flow with several potential catalysts ahead."

Qualified person

The technical contents of this release were reviewed and approved by Mr. Bain, PGeo, a qualified person as defined by National Instrument 43-101.

About Cruz Battery Metals Corp.

Cruz currently has several projects located throughout North America. Cruz's Nevada lithium projects consist of the 8,135-acre Solar lithium project and the 240-acre Clayton Valley lithium project. Cruz's 6,146-acre Hector cobalt project is located in the vicinity of the town of Cobalt, Ont., which is prospective for cobalt, silver and diamonds. Cruz's Idaho projects include the 2,211-acre Idaho cobalt belt project and the 80-acre Idaho Star cobalt project. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the company's properties.

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