Mr. Nathan Rotstein reports

EDISON LITHIUM ARRANGES SALE OF MAJORITY STAKE IN ARGENTINIAN LITHIUM PROPERTIES FOR US$5 MILLION

Edison Lithium Corp. has entered into a letter of intent dated Dec. 18, 2023, with Meteor Energy LLC, an energy corporation based in Dallas, Tex., for the sale of 100 per cent of the company's interest in its Argentine subsidiary, Resource Ventures SA, in consideration for $5-million (U.S.). Prior to the sale, ReVe will have first rolled out and retained the Pipanaco claims and one of the Lexi claims to be retained in a new subsidiary, as further described below. Pursuant to the LOI, the parties agreed to use commercially reasonable efforts to enter into a definitive agreement within 60 days to give effect to this transaction on terms and conditions acceptable to both parties.

ReVe controls the rights to prospective lithium brine claims in the province of Catamarca, Argentina. The claims are principally located in the two geologic basins known as the Antofalla salar and the Pipanaco salar. ReVe's assets on closing of the disposition to Meteor will include 29 mining concessions covering approximately 105,699 hectares in an area in Catamarca province, Argentina. The company will retain and focus its Argentine efforts on eight mining concessions covering approximately 28,766 hectares in an area in Catamarca province, Argentina, which are not subject to the sale and amount to approximately 20 per cent of the claims currently held by ReVe. The sale terms included Meteor paying the company $25,000 (U.S.) on signing of the LOI, with further payments of $475,000 (U.S.) and $4.5-million (U.S.) payable by Meteor to the company upon execution of a definitive agreement and the closing of the disposition, respectively.

Nathan Rotstein, Edison's chief executive officer, commented: "This transaction validates our purchase of the entire ReVe property package 2-1/2 years ago for $1.25-million and puts Edison into a strong cash position to assess other opportunities. We are very pleased with how we will be positioned after closing the transaction."

The LOI contemplates a 60-day due diligence period prior to execution of the definitive agreement, during which Meteor will conduct standard due diligence on ReVe and the mining claims subject to this sale. Completion of the disposition contemplated by the LOI remains subject to the satisfactory completion of due diligence, the negotiation and execution of a definitive agreement, and approvals from the TSX Venture Exchange and shareholders of the company, if required. The company and Meteor are at arm's length, and no finders' fees or commissions are payable in connection with completion of the sale contemplated by the LOI.

About Edison Lithium Corp.

Edison is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali 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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