Mr. Nathan Rotstein reports

EDISON LITHIUM PROVIDES CORPORATE UPDATE

As announced on Aug. 25, 2023, Edison Lithium Corp. has acquired a 100-per-cent interest in four prime sodium brine properties in Saskatchewan. The acquisition of the alkali dispositions, located in Ceylon Lake, Freefight Lake, and the north and south areas of Cabri Lake, in the province of Saskatchewan, allows Edison to capitalize on the emerging growth of the sodium-ion battery as a significant alternative to the lithium-ion battery by positioning the company to meet the growing raw material supply chain demand of the Na-ion battery industry.

A National Instrument 43-101 (Standards of Disclosure for Mineral Projects) technical report for the alkali dispositions has been commissioned and is expected to be available in December, 2023.

Nathan Rotstein, chief executive officer and director of Edison, stated: "BYD, the world's largest electric vehicle manufacturer, has three models of Na-ion battery vehicles for sale. In addition, CATL, the largest manufacturer of electric vehicle batteries in China, is now producing a Na-ion battery. The trend is definitely moving to the Na-ion battery, not just for electric vehicles but also for energy/grid storage."

Argentine property update

The company has been approached by several interested parties to discuss the development or sale of, or potential joint venture opportunities connected with, certain lithium brine claims held by the company in the province of Catamarca, Argentina. The claims are principally located in the two geological basins known as the Antofalla salar and the Pipanaco salar in South America's famed Lithium Triangle. Edison is assessing the opportunities to determine which, if any, align with the company's development plans.

Spinout update

By way of update regarding the proposed spinout of the company's cobalt assets in Northeastern Ontario, referred to as the Kittson cobalt property, to be carried out by way of statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (see the company's news releases of March 28, 2023, and July 13, 2023), preparations are moving forward smoothly with the company seeking to complete the spinout, subject to the receipt of requisite approvals, within the first half of 2024.

The proposed spinout will be subject to the terms of an arrangement, approval of shareholders at a meeting of Edison shareholders, approval of the B.C. Supreme Court and approval of the TSX Venture Exchange. The particulars of the spinout are not yet final, and shareholders are cautioned that there can be no assurance that the spinout will be completed on the terms previously disclosed or at all. Further details of the spinout will be announced in a subsequent news release.

An updated National Instrument 43-101 technical report dated Oct. 27, 2023, on the Kittson cobalt property is available under the company's profile on SEDAR+ and on Edison's website.

About Edison Lithium Corp.

Edison 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.

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