Mr. James Cross reports

E-POWER RESOURCES INC. ANNOUNCES APPROVAL OF DEAL WITH VOLT CARBON TECHNOLOGIES

E-Power Resources Inc. has issued the first tranche of 1.6 million shares to Volt Carbon Technologies Inc. as part of the option agreement announced on Feb. 5, 2024.

The company issued 1.6 million shares to Volt Carbon on March 21, 2024. The shares are subject to a four-month hold period. The company will issue Volt Carbon another 2.5 million shares when $340,000 is spent on exploration of the Tetepisca property and a further 2.5 million shares when the second $340,000 is spent on exploration of the Tetepisca property. Volt Carbon has agreed to spend the full $680,000 during the 2024 calendar year. Spending the entire $680,000 on exploration of the Tetepisca property, before Dec. 31, 2024, will give Volt Carbon the right to acquire a 5-per-cent interest in the Tetepisca property, on or before Dec. 31, 2025, for a $1.5-million cash payment.

The exploration committee established by the option agreement is looking forward to deploying the capital during the field season. Exploration and evaluation planned for 2024 at Tetepisca will include bulk sampling and metallurgical test work, diamond drilling to support resource delineation, and electromagnetic ground surveys over selected early-stage targets.

James Cross, president and chief executive officer of E-Power Resources, said: "This capital provided by Volt Carbon represents an excellent head start on the financing of the 2024 field season. This is $680,000 we will not have to go to the capital markets to raise."

Following the issuance of 1.6 million shares to Volt Carbon, E-Power Resources has 36,021,258 shares outstanding.

About E-Power Resources Inc.

E-Power Resources is an exploration-stage company engaged principally in the acquisition, exploration and development of graphite properties in Quebec. Its flagship asset, the Tetepisca graphite property, is located in the Tetepisca graphite district of the North Shore region of Quebec, approximately 215 kilometres from the port of Baie-Comeau.

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