Mr. Nathan Rotstein reports

EDISON LITHIUM ANNOUNCES SHARE CONSOLIDATION

Further to its news release of July 13, 2023, Edison Lithium Corp. will proceed with a consolidation of its issued and outstanding common shares on the basis of one new common share for every eight currently outstanding common shares.

Consolidation

On a preconsolidation basis, the company has 115,181,311 issued and outstanding common shares, and, following the consolidation, the company expects to have 14,397,666 common shares issued and outstanding. No fractional postconsolidation shares will be issued. If, as a result of the consolidation, a shareholder would otherwise be entitled to a fraction of a postconsolidation share, each fractional share following conversion that is at least one-half of a postconsolidation share will be rounded up to the nearest whole number and each fractional share that is less than one-half of a postconsolidation share will be cancelled. No cash consideration will be paid in respect of fractional shares.

Subject to final acceptance of the consolidation by the TSX Venture Exchange, the company's common shares will commence trading on the exchange on a postconsolidation basis effective market open on Aug. 1, 2023. The company's name and trading symbol will remain unchanged.

On the effective date, the company's new Cusip number for its postconsolidation shares will be 28103Q208 and the new ISIN (international securities identification number) will be CA28103Q2080. Letters of transmittal describing the process by which shareholders may obtain new share certificates or direct registration system (DRS) advices representing their postconsolidation shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. The letter of transmittal will also be filed under the company's profile on SEDAR.

The exercise price and number of postconsolidation shares of the company, issuable upon the exercise of outstanding securities convertible into postconsolidation shares, will be proportionally adjusted upon the effective date of the consolidation in accordance with the terms thereof.

Pursuant to the provisions of the Business Corporations Act (British Columbia) and the articles of the company, the consolidation was approved by way of resolutions passed by the board of directors of the company.

Stock option cancellations

The company will be cancelling a minimum of 7.5 million and up to 8.3 million of its presently outstanding stock options. To date, all of the company's directors and officers and certain consultants have voluntarily forfeited all of their previously granted stock options. Once the cancellations have been processed, there will be no greater than 100,000 postconsolidation stock options outstanding.

In connection with the consolidation and stock option cancellations, Nathan Rotstein, chief executive officer of the company, stated: "We believe these actions will put the company into a stronger position to raise additional financing when appropriate. At this time, the company is in a relatively strong cash position with over $1.6-million in cash, including GICs [guaranteed investment certificates]. We look forward to keeping our shareholders and other interested parties apprised of our plans and encourage them to visit our website [...] to subscribe to receive future press releases."

About Edison Lithium Corp.

Edison Lithium is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metal properties. The company's acquisition strategy is based on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metal space.

We seek Safe Harbor.