Mr. Bora Ugurgel reports

FRONTIER LITHIUM INC. HIGHLIGHTS SUCCESSFUL PROGRESS AND KEY DEVELOPMENTS FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2023

Frontier Lithium Inc. has released financial results for the second quarter ended Sept. 30, 2023. The financial statements and the related management's discussion and analysis have been filed on SEDAR+ and can be viewed under the company's profile on SEDAR+.

Highlights for the current quarter and recent developments

Financial highlights: The company maintains a strong financial position with a cash balance of $18.6-million as of Sept. 30, 2023. The company remains vigilant in managing its capital, ensuring continued exploration and development activities.

Exploration and development: Frontier Lithium has been actively engaged in the exploration and development of the PAK lithium project, located in the Red Lake mining jurisdiction of Northwestern Ontario since February, 2013. The recent phase 13 drill program, which commenced in February, 2023, has yielded promising results, delineating the Bolt pegmatite and extending the Spark deposit. In conclusion of this reporting period, the drilling program has come to an end. The company's commitment to exploration includes a comprehensive regional mapping program, uncovering new spodumene-bearing pegmatite zones.

In July, 2023, Frontier Lithium published a prefeasibility study, outlining a fully integrated lithium operation. The PFS indicates the potential for the continent's largest and lowest-cost producer of lithium hydroxide, catering to the growing electric vehicle industry in North America.

Business objectives: Frontier Lithium's primary objective is to become a strategic domestic supplier of spodumene concentrates for industrial users and battery-grade lithium hydroxide for the electric vehicle and energy storage markets in North America. With the largest proven land position and resource in the new premium lithium mineral district, the company aims to play a pivotal role in Ontario's Great Lakes region.

Leadership team: Frontier Lithium boasts a leadership team with a multidecade record in financing, partnering, constructing and operating mining and refining companies across multiple commodities, including lithium, on a global scale. The company has undertaken leadership team additions, including the appointment of Gregory Da Re as vice-president of corporate development and Erick Underwood as chief financial officer.

Outlook: Frontier Lithium remains committed to its phased development approach outlined in the PFS. The company's focus on becoming a strategic supplier of premium spodumene concentrates and lithium chemicals aligns with the growing demand in North America's electric vehicle and energy storage markets. The definitive feasibility study, currently in progress, will provide detailed insights into the next stages of the project.

Frontier Lithium looks forward to advancing its position as a key player in the lithium sector, contributing to the sustainable growth of the electric vehicle and energy storage industries in North America.

For further details, refer to management's discussion and analysis for the six months ended Sept. 30, 2023, available on SEDAR+.

About Frontier Lithium Inc.

Frontier Lithium (TSX Venture Exchange: FL) (Frankfurt Stock Exchange: HL2) (OTCQX: LITOF) is an exploration and development mining company with headquarters and assets in Northern Ontario, a Tier 1 mining jurisdiction. The company's PAK project represents the largest proven land position in a new premium lithium mineral district, with a high-grade large-tonnage and pure lithium resource. Strategically located in Ontario's Great Lakes region near the United States border, Frontier Lithium is developing the first fully integrated lithium mining and processing operation in Ontario with an aim to become a significant supplier of spodumene concentrates and battery-grade lithium hydroxide to the growing electric vehicle and energy storage markets across North America.

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