Mr. Kal Malhi reports

HERTZ LITHIUM ANNOUNCES REVISED TERMS OF NON-BROKERED PRIVATE PLACEMENT

Hertz Lithium Inc., further to its news release on Nov. 3, 2023, has revised the terms of its previously announced non-brokered private placement. The company will now be conducting a non-brokered private placement for gross proceeds of up to $3.5-million.

The private placement will consist of the issuance of up to 11,111,111 units at a price of 18 cents per non-flow-through unit for gross proceeds of up to $2-million and up to 3.75 million flow-through units (charity FT units) at a price of 40 cents per charity FT unit, for gross proceeds of up to $1.5-million. Each non-FT unit will comprise one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional share for a period of 24 months from the closing date at an exercise price of 40 cents per warrant share. The warrants will be subject to an accelerated expiry upon 30 business days notice from the company in the event the shares trade for 14 consecutive trading days anytime after four months from closing of the private placement at a volume-weighted average price of at least 60 cents on the Canadian Securities Exchange (the CSE).

Each FT charity unit will comprise one share, to be issued as a flow-through share within the meaning of the Income Tax Act (Canada), that will be issued as part of a charity arrangement, and one warrant.

The net proceeds from the sale of non-FT units will be used for the advancement of the company's lithium extraction technology, exploration at its Lucky Mica project, consulting/management fees, marketing/investor relations, and general and administrative matters. The gross proceeds from the issuance of the charity FT units will be used for "Canadian exploration expenses" within the meaning of the Tax Act, which will be incurred on or before Dec. 31, 2024, and renounced with an effective date no later than Dec. 31, 2023, to the initial purchasers of the charity FT units in an aggregate amount not less than the gross proceeds raised from the issue of charity FT units.

The private placement may close on one or more dates as the company may determine.

The company may pay a finder's fee in connection with the private placement to eligible arm's-length finders in accordance with the policies of the CSE. All securities issued in connection with the private placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

About Hertz Lithium Inc.

Hertz Lithium is a British Columbia-based junior exploration company primarily engaged in the acquisition and exploration of mineral properties. The company's lithium exploration projects include the Lucky Mica lithium project, the ACDC lithium project and the Patriota lithium project. The Lucky Mica project is 939 hectares located within the Arizona pegmatite belt in the Maricopa county of Arizona, United States. The ACDC project is 26,500 hectares located in the renowned James Bay lithium district in Quebec, Canada, just 26 kilometres southeast of the Covette lithium project owned by Patriot Battery Metals and is contiguous to Rio Tinto's Kaanaayaa project claims. The Patriota lithium project is 2,963 hectares located within the Eastern Brazilian pegmatite province in Minas Gerais, Brazil, and host to similar geology as Sigma's Green lithium mine. 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 that utilizes a process for extracting lithium directly from alpha spodumene.

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