Mr. James Cross reports

E-POWER AND BATTERY DEVELOPER VOLT CARBON TECHNOLOGIES JOIN FORCES TO EXPLORE THE TETEPISCA GRAPHITE PROPERTY

E-Power Resources Inc. has entered into an option agreement with Volt Carbon Technologies Inc., enabling Volt Carbon to acquire a 5-per-cent interest in the Tetepisca graphite project by financing $680,000 in exploration before Dec. 31, 2024, and making a one-time cash payment of $1.5-million on or before Dec. 31, 2025.

James Cross, president and chief executive officer of E-Power, commented: "We are pleased to be announcing further exploration of our Tetepisca graphite project. Volt Carbon is a carbon science company with holdings in graphite exploration properties. Volt Carbon has developed proprietary graphite ore processing technology, and is in the early stages of developing and producing solid-state lithium-ion batteries. We have previously engaged Volt to process samples from Tetepisca into graphite concentrates which can be provided as samples to battery manufacturers. We welcome continued collaboration with Volt Carbon as a step in the process to bring Tetepisca graphite from the ground in Quebec to end-users in North America and Europe."

About the Tetepisca property

The Tetepisca property is located approximately 220 kilometres north of the town and deepwater port of Baie-Comeau in the North Shore region of Quebec. The property consists of 230 claims covering an area of approximately 12,620 hectares within the emerging Tetepisca graphite district (TGD). The TGD is an active graphite exploration and development district with delineated measured and indicated resources in excess of 100 million tonnes (Mt) at an average grade of 14 per cent graphitic carbon (Cg). The company's Tetepisca property is strategically located only a three-hour-and-15-minute drive from the deepwater port of Baie-Comeau. Baie-Comeau is the planned home of a 200,000-tonne-per-year battery anode material producer. The Tetepisca property provides an excellent opportunity to host very significant graphite resources in a Tier 1 jurisdiction, providing for environmentally and socially responsible development and production.

About the Tetepisca property option agreement

Under the terms of the agreement, E-Power will grant Volt an option to acquire a 5-per-cent interest in the Tetepisca graphite project. Volt has agreed to spend $680,000 on exploration of the Tetepisca graphite project prior to Dec. 31, 2024. As part of the agreement, E-Power will issue to Volt 6.6 million shares of the company, in tranches, as exploration expenses are incurred. In order to exercise the option to acquire 5 per cent of the Tetepisca graphite project, Volt will be required to make a cash payment to E-Power of $1.5-million on or before Dec. 31, 2025. The agreement remains subject to the approval of the TSX Venture Exchange and the Canadian Securities Exchange.

About E-Power Resources Inc.

E-Power Resources is a Quebec corporation based in Montreal and focused on battery minerals exploration in Quebec. The company is currently advancing two projects: the Tetepisca property, located in the North Shore region of the province; and the Turgeon property located in the Abitibi region, adjacent to the Ontario border. The company's priority target is flake graphite on the Tetepsica property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district, and the company is evaluating Turgeon primarily for its copper-zinc and gold potential.

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