Mr. Kal Malhi reports

HERTZ LITHIUM INC. ANNOUNCES ACQUISITION OF CANUCK LITHIUM CORP.

Further to its news release on Oct. 3, 2023, Hertz Lithium Inc. has completed the acquisition of 100 per cent of the issued and outstanding common shares in the capital of Canuck Lithium Corp. The Acquisition was completed pursuant to the terms and conditions of a share exchange agreement (the "Definitive Agreement") entered into among the Company, Canuck, and the shareholders of Canuck (the "Canuck Shareholders").

Hertz now owns 100% of the ACDC Project, located in the emerging hard rock lithium district in James Bay, Quebec, Canada. There are approximately 135 historical references to pegmatite outcrops that have never been evaluated or sampled for their lithium potential on the Property according to the Quebec Government's SIGEOM Database (Figure 3).

The ACDC property encompassing 516 contiguous mineral claims spanning 265 square kilometers, located contiguous to Rio Tinto's optioned Kaanaayaa Lithium Project (Figure 1) as well as 26 km southeast of the Corvette Lithium Project owned by Patriot Battery Metals with an inferred mineral resource of 109.2 Mt at 1.4% Li2O Superscript 1 and 60 km west of Winsome Resources' Adina Lithium property (Figure 2). The growing James Bay lithium district also hosts Nemaska's Whabouchi Project, with a Mineral Resource of 36.6 Mt at 1.3% Li2O Superscript 2, and a proposed mine life of 33 years. Additionally, Allkem's James Bay Lithium Project has a Mineral Resource of 40.3 Mt at 1.4% Li2O and is proposed to produce an average of 321 Kt of spodumene concentrate per year over a 19-year mine life Superscript 3.

Hertz has engaged with Mercator Geological Services to follow up on the initial priority targets within the 12 zones identified on the property. The four-person crew will conduct prospecting, mapping and sampling in an effort to locate spodumene within enriched mineralized zones on the property.

Following the completion of this initial field work, the Company intends to engage Dahrouge Geological Consulting Ltd. and supplement these efforts with an aerial Light Detection and Ranging (LiDAR) Survey (the "Survey") and high-resolution ortho imagery for an enhanced understanding of the AC/DC Project's lithology and further confirm areas of priority to follow up on during 2024's exploration season. The Survey is designed to produce a sub-metric scale topographic model of the ground surface and high-resolution imagery with less than 20 cm pixel resolution. Pegmatite structures occur as elongated bodies, often relatively more resistant to erosion than their surrounding wall-rock and can form subtle elongated ridge like features. These discrete topographic highs and other geological features of interest can be identified through analysis of the high-resolution remote sensing datasets even in areas of thick vegetation.

Kal Malhi, CEO states, "We are pleased to have completed this acquisition quickly and efficiently before the winter sets into northern Quebec. Our plan is to send a ground team to the ACDC property for some immediate groundwork to aid in building our exploration program for 2024. We look forward to reporting on these efforts in the coming weeks as well as additional developments in the Company's portfolio of assets."

Terms

Pursuant to the terms of the Definitive Agreement, as consideration for the acquisition of 100% of the issued and outstanding common shares of Canuck the Company issued an aggregate of 23,150,001 common shares in the capital of the Company (the "Consideration Shares") pro rata to the Canuck Shareholders at a deemed price of $0.25 per Consideration Share. The Consideration Shares were issued pursuant to the Take-Over Bid and Issuer Bid prospectus exemption set forth in Section 2.16 of National Instrument 45-106 - Prospectus Exemptions and are therefore not subject to any restrictions on resale.

About Canuck

Canuck is a Quebec based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company's flagship lithium exploration project is known as the AC/DC property encompassing 516 contiguous mineral claims spanning 265 square kilometers, located 26 km southeast of the Corvette Lithium Project owned by Patriot Battery Metals.

About Hertz Lithium Inc.

The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company's lithium exploration projects include, the Lucky Mica Project, is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil. The Company is also working with Penn State University's College of Earth and Mineral Science department to develop a novel patent-pending hard rock lithium extraction technology.

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