Mr. Kal Malhi reports

HERTZ LITHIUM ENTERS OPTION AGREEMENT FOR MASKWA LITHIUM PROPERTY

Hertz Lithium Inc. has entered into an option agreement with Sirios Resources Inc. (the vendor) pursuant to which the company has acquired the option to acquire a 100-per-cent interest in the Maskwa property located in Eeyou Istchee James Bay in Quebec.

Pursuant to the terms and conditions of the option agreement, in order to exercise the option the company must:

• Pay the vendor $100,000 within three business days of the execution of the option agreement;
• Pay the vendor $100,000 in cash plus $100,000 either in cash or in common shares upon the earlier of (i) receipt of the surface sampling results from the laboratory engaged by the company to carry out the analysis of the surface samplings from the property, and (ii) Dec. 20, 2024;
• Incur not less $500,000 in exploration expenditures on the property on or before Dec. 31, 2024, incur an additional $750,000 in exploration expenditures on the property on or before Dec. 31, 2025, and incur an additional $1-million in exploration expenditures on the property on or before Dec. 31, 2026, exclusive of any tax.

Further, the company must pay the vendor $250,000 either in cash or in common shares upon the successful confirmation of drilling results indicating a lithium concentration of 1 per cent Li2O (lithium oxide) or more over a minimum of 25 metres on the property.

Upon the company's exercise of the option it will also grant the vendor a 1.5-per-cent net smelter return royalty on the property. Additionally, the company will grant the vendor an option to purchase 100 per cent of the mining rights related to the non-critical minerals located on the property. In order to exercise the buy-back option the vendor must reimburse the company for all exploration expenditures incurred on the property, up to a maximum of $2-million.

Any shares issued to the vendor pursuant to the option agreement will be subject to a statutory four-month hold period pursuant to applicable Canadian securities laws.

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, which is located along the Arizona pegmatite belt in the Maricopa county of Arizona, United States, and the Patriota lithium project, located along the eastern Brazilian pegmatite province, in Brazil, and the AC/DC lithium project located in James Bay, Quebec. 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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