Mr. Garth Drever reports

FRONTIER LITHIUM INTERSECTS 108.4M OF 2.12% LI2O ON THE SPARK PEGMATITE AND ISSUE STOCK OPTIONS

Frontier Lithium Inc. has released results from the four holes drilled on the Spark pegmatite in 2023, in addition to channel sampling results on what may be a potential western extension of the Spark deposit, situated one kilometre away.

Highlights:

• DDH PL-133-23 extended a high-grade northwest zone of the Spark pegmatite 90 metres west, intersecting 108.4 metres of continuous pegmatite averaging 2.12 per cent Li2O (lithium oxide):
  • Including 7.6 metres from 408.9 metres to 416.5 metres averaging 3.58 per cent Li2O;
  • Including 6.1 metres from 482.5 metres to 488.5 metres averaging 3.16 per cent Li2O;
  • Including 4.2 metres from 498.0 metres to 502.2 metres averaging 3.36 per cent Li2O;
• DDH PL-100-23 intersected 134.3 metres of continuous pegmatite averaging 1.27 per cent Li2O:
  • Including 16.6 metres from 65.8 metres to 82.4 metres averaging 2.09 per cent Li2O;
  • Including 49.2 metres from 96.3 metres to 145.5 metres averaging 2.25 per cent Li2O;
• Channel samples CH-52 and CH-53 located on an outcrop one kilometre west along strike of the Spark deposit returned a combined 18.0 metres of pegmatite averaging 2.16 per cent Li2O:
  • Including six metres averaging 3.27 per cent Li2O.

"The most recent findings consistently indicate the possibility of expanding the Spark resource both at greater depths and along the geological strike," says Garth Drever, vice-president, exploration, of the company. "We are excited about delving deeper into the newly discovered Spark extension, which has yielded high-grade channel sample values. Although it's early stage, there are strong similarities with the high-grade intersection in hole PL-133-23 and the Spark extension channels. Exploring potential connection to the primary Spark deposit is one of our objectives for 2024."

During the spring season, PL-100-23, PL-101-23 and PL-102-23 were drilled on the southwest pod of the main Spark pegmatite with the objective of upgrading material near surface to the indicated category. The results suggest that the pod primarily consists of aplite with varying lithium grade throughout. Unfortunately, drilling of PL-102-23 had to be halted as it approached the higher-grade zone due to warming weather conditions. There are plans to resume drilling in this hole during the coming winter season.

Additionally, PL-133-23 was stepped out 90 metres to intersect the Spark pegmatite at greater depth, confirming a steep northwest plunge and expanding the high-grade lithium zone. This zone with elevated assay values give hope that it may be approaching a more evolved section of the pegmatite, representing a higher level of fractionation and the potential for a Tier 1 technical grade zone similar to the Pak deposit.

An attached table details the drill holes and channels with mineralized intersections from the Spark area while other attached tables summarize all drill holes completed at Bolt and Spark and the channels completed at the Spark extension in 2023.

Issuance of stock options

Pursuant to its stock option plan, which was approved by shareholders at the company's annual general meeting of shareholders on Sept. 13, 2023, 422,500 stock options have been granted to certain employees, officers, directors and strategic advisers of the company. The options are set for a period of five years, expiring on Sept. 25, 2028, have an exercise price of $1.10, and are subject to regulatory and TSX Venture Exchange approval.

Due diligence

All scientific and technical information in this release has been reviewed and approved by Garth Drever, PGeo, the qualified person under the definitions established by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Under Frontier Lithium's quality assurance/quality control procedures, all drilling was completed by Chenier Drilling Ltd. of Val Caron, Ont., using thin-walled BTW drill rods (4.2-centimetre core diameter) and a Reflex Act III oriented core system. Using the Reflex system, the drill core was oriented and marked as it was retrieved at the drill. The core was boxed and delivered to the Frontier Lithium core shack, where it was examined, geologically logged and marked for sampling. The core was photographed prior to sampling. Using a rock saw, the marked sample intervals were halved, with one-half bagged for analysis. Sample blanks, along with lithium, rubidium and cesium certified reference material, were routinely inserted into the sample stream in accordance with industry-recommended practices. Field duplicate samples were also taken in accordance with industry-recommended practices. The samples were placed in poly sample bags and transported to Red Lake, Ont., by float plane and then shipped to Agat Laboratories Ltd. in Thunder Bay, Ont., for sample preparation and to Mississauga, Ont., for processing and quantitative multielement analysis. Agat is an ISO-accredited (International Organization for Standardization) laboratory. The core is stored on site at the company's Pakeagama Lake exploration camp.

About Frontier Lithium Inc.

Frontier Lithium is a preproduction business with an objective to become an integrated strategic domestic supplier of spodumene concentrates for industrial users as well as battery-grade lithium hydroxide and other chemicals to the growing electric vehicle and energy storage markets in North America. The company's sole project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

About the Pak lithium project

The Pak lithium project contains North America's highest-grade lithium resource and is the second largest in North America by size. The project encompasses close to 27,000 hectares and remains largely unexplored; however, since 2013, the company has delineated two premium spodumene-bearing lithium deposits (Pak and Spark), located 2.3 kilometres apart. Exploration is continuing on the project through two other spodumene-bearing discoveries: the Bolt pegmatite (located between the Pak and Spark deposits) as well as the Pennock pegmatite (25 kilometres northwest of the Pak deposit within the project claims). A 2023 prefeasibility study, "National Instrument 43-101 Technical Report PFS PAK Lithium Project," by BBA E&C Inc. delivered a 24-year project life, delivering a posttax net present value (discounted at 8 per cent) of $1.74-billion (U.S.) and internal rate of return of 24.1 per cent, as per the press release disseminated on May 31, 2023, and was filed on SEDAR.

We seek Safe Harbor.