Mr. J.C. St-Amour reports

IMAGINE LITHIUM LAUNCHES COMPREHENSIVE PROPERTY WIDE EXPLORATION PROGRAM ON JACKPOT LITHIUM PROJECT

Imagine Lithium Inc. has launched a property-wide exploration program on the approximately 18,800-hectare Jackpot lithium property, following the recent closing of a $9.1-million private placement financing (press release April 28, 2023). The extensive exploration program will consist of a minimum of 10,000 metres of diamond drilling on the Jackpot property. The diamond drill campaign will focus on expansion of the Jackpot Main zone as well as several new lithium-bearing pegmatite targets to the west, northwest and northeast, covering a trend of more than three kilometres. In addition, the company has engaged a team of geologists to conduct a large prospecting and geological survey, accompanied by rock and soil sampling. For the first time, Imagine's exploration program will cover the entirety of the vast Jackpot land package. It is designed to identify new lithium exploration targets and investigate numerous known pegmatite occurrences throughout the property. Finally, Imagine intends to carry out a high-resolution property-wide geophysical survey to identify potential pegmatites that may be hidden under groundcover.

J.C. St-Amour, president and chief executive officer of Imagine, commented: "We are well capitalized to accelerate and greatly expand our exploration and development activities at the Jackpot project. Our goal is to increase the historical resources, test additional known pegmatites for potential satellite deposits, and to complete a comprehensive prospecting and sampling program of the entirety of the large Jackpot land package to identify additional drill targets. Lithium-bearing pegmatites are generally found in swarms and we have already identified several that need to be tested through drilling. I am confident there are further discoveries to be made at Jackpot and we are well positioned to make them in the coming exploration season."

The Jackpot Main zone remains open along strike; therefore expansion drilling will focus on testing extensions to the east and north. Exploration drilling will focus on targets identified outside of the main zone, including an area where a lithium-bearing pegmatite was traced over 500 metres. These targets have the potential to add additional lithium deposits to the Jackpot project.

Qualified person

The technical content of this news release was approved by Michel Boily, PhD, PGeo, an independent qualified person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km north-northeast of Thunder Bay, Ont., which is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railways and ports. The property contains known lithium-bearing granitic pegmatite dikes, of which two provided estimated historical resources of two million tons at 1.09 per cent Li2O (lithium oxide) and 750,000 tons at 1.38 per cent Li2O.

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