Mr. Kal Malhi reports

HERTZ ENERGY EXPEDITING HARD ROCK LITHIUM TECHNOLOGY AND ANNOUNCES PARTNERSHIP WITH LITHIUM CONSULTANTS AUSTRALASIA

Hertz Energy Inc. has entered into a consulting agreement with Lithium Consultants Australasia (LCA) to advance the development of its hard-rock lithium extraction process optimization technology being conducted at Penn State University (PSU) as well as advance the company's commercialization of the technology.

Lithium Consultants Australasia (LCA) is based in Perth, Australia, and assists companies to advance their lithium projects by conducting test work on their behalf which provides the necessary data required to design pilot and commercial-scale plants. LCA has specialized knowledge and expertise in the extraction of lithium, along with a commitment to providing innovative solutions and exceptional support, to successfully develop rare mineral resources. Its services include test work design, flowsheet development, process modelling, lithium market intelligence, commercial plant design, and development and feasibility studies.

Hertz has partnered with LCA to work with PSU through their remaining optimization trials to ensure all work is performed with a near-term commercialization goal. LCA will develop overall flowsheet, high-level operating cost estimates, conduct a validation study and run a pilot plant scale-up program.

The company's technology comprises a patent-pending process for the extraction of lithium from alpha-spodumene. Lithium is one of the critical elements with widespread applications in next-generation technologies, including energy storage, electric mobility and cordless devices. Due to its unique applications, lithium cannot be substituted in most applications; therefore, a steady increase of 8 to 11 per cent in annual demand is anticipated. Meeting a rising demand for lithium requires prospecting and processing all viable resources. Two primary sources of lithium are hard-rock ores (such as spodumene mineral) and brine, with clay sources considered secondary. Spodumene mineral is the major source of high-purity lithium; however, current technologies do not allow leaching of lithium from alpha-spodumene, and therefore most of the methods of lithium extraction from spodumene are focused on modifying the crystal structure of concentrated spodumene mineral into beta-spodumene using conventional heating (roasting) at 950 to 1,100 degrees. However, such high-temperature roasting processes are very energy intensive and have been the bottleneck of the economic extraction of lithium from ores. Thus, there is a need for more energy-efficient and environmentally friendly methods for a high-yield extraction of lithium. The technology is designed to satisfy these needs.

The company's technology begins with taking spodumene concentrate, introducing sodium hydroxide, and then proceeding with conventional or microwave roasting which transforms the alpha-spodumene into a soluble phase and is followed by a water leaching process to recover lithium.

More recently, the team at PSU has conducted a multistep optimization phase on the current extraction process. To date, it has concluded optimization on the stage 1 roasting and water leaching process. The efforts of the optimization work have resulted in advancement of the alpha-spodumene extraction process running a two-stage roasting and leaching method with Li recovery now reaching over 99 per cent. Updates to the patent applications have been filed with the proper authorities to encompass the breakthrough achieved by Mohammad Rezaee and his team at Penn State.

Furthermore, Hertz is continuing in-depth discussions with a major international mining conglomerate for collaboration on the development of the hard-rock lithium extraction technology in partnership with Penn State University and LCA. This potential agreement will allow for financing and expertise from the third party toward the validation study and pilot plant program as well as additional expertise to aid in the commercialization of the extraction technology. "With hard-rock lithium becoming a focus for lithium supply and many new hard-rock lithium discoveries occurring around the world, including the world-class Patriot Battery Metals' Corvette discovery in Quebec, the need for updated and efficient extraction technology is urgent. I commend the great work being conducted by our teams at Hertz and Penn State and the recent advancement of the IP being generated. We are excited to have Grant Harman and his team at LCA run the commercialization efforts for our extraction technology," states Kal Malhi, chief executive officer and director of Hertz Energy. Mr. Malhi continues, "They are top tier in the lithium extraction world and we have all the confidence in their ability to guide the remaining optimization efforts and bring the technology towards commercialization in an expedited fashion."

About Hertz Energy Inc.

Hertz Energy is a British Columbia-based junior exploration company primarily engaged in the acquisition and exploration of mineral properties. The company recently entered into the definitive agreement to acquire the Cominco uranium property located in Bathurst Inlet, Nunavut, Canada. Hertz rebrand to Hertz Energy to better reflect the company's commitment to critical mineral exploration in support of the global green energy transition. The company's lithium exploration projects include the Lucky Mica lithium project, the AC/DC 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 AC/DC project is 26,500 hectares located in the renowned James Bay lithium district in Quebec, Canada, just 26 kilometres southeast of the Corvette 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 also holds a long-term, exclusive licence for a patent-pending process for extracting lithium directly from lithium-bearing materials, including but not limited to alpha-spodumene and other hard-rock-hosted minerals. Such process was invented by researchers affiliated with Penn State and is co-owned by the Penn State Research Foundation and North Carolina State University.

We seek Safe Harbor.