Mr. J.C. St-Amour reports

IMAGINE LITHIUM ANNOUNCES MULTIPLE DRILL RESULTS FROM THE WINTER PROGRAM AT JACKPOT LITHIUM PROJECT

Imagine Lithium Inc. has released assay results from its continuing drill program at the Jackpot lithium project, located within the rapidly emerging lithium camp in the Georgia Lake area, approximately 140 kilometres (km) northeast of Thunder Bay, Ont.

Highlights of the assay results reported today include:

• Hole JP-23-03: 9.23 metres (m) at 1.04 per cent lithium oxide (Li2O);
• Hole JP-23-04: five m at 1.25 per cent Li2O;
• Hole JP-23-04B: six m at 1.36 per cent Li2O;
• Hole JP-23-05: seven m at 1.19 per cent Li2O;
• Hole JP-23-08: five m at 1.18 per cent Li2O.

The 2023 drill program to date has focused on the Jackpot Main zone to increase the drill density. The 2022 drill program nearly doubled the mineralized lithium zone by increasing the strike length by 400 metres to the east. The gently dipping zone now extends a total of 900 metres along strike and 300 metres downdip, to a depth of 200 metres. The zone consists of multiple stacked spodumene-rich pegmatite dikes. The results reported today are from the Jackpot Main zone and are summarized in an attached table.

J.C. St-Amour, president of Imagine, commented: "The results announced today continue to demonstrate the stacked nature of the pegmatites at Jackpot, with multiple intercepts in the majority of drill holes. With our recently closed financing, we expect to resume drilling in June following the spring break-up. We will be drilling several known untested mineralized pegmatite dikes beyond the Jackpot Main zone with a view to identifying additional zones and adding lithium tonnage to the project. This summer promises to be a very active exploration season for Imagine Lithium with drilling, prospecting and geophysics all planned."

QA/QC (quality assurance/quality control) protocol

Imagine Lithium implemented a strict QA/QC protocol in processing all rock samples collected from the core material obtained from the Jackpot property. The protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS lithium standards, blanks and duplicates, to validate the accuracy and precision of the assay results. All collected rock samples were put in sturdy plastic bags, tagged and sealed in the core shack under the supervision of professional geologists. Sample bags were then put in rice pouches and kept securely before being sent by road transport to the Actlabs laboratories in Thunder Bay, Ont. Lithium was analyzed by peroxide fusion ICP-OES (inductively coupled plasma optical emission spectroscopy) method (8-Li package), whereas tantalum was determined by four-acid near-total digestion using the ultratrace ICP-MS (inductively coupled plasma mass spectrometry) method.

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 kilometres (km) north-northeast of Thunder Bay, Ont., is approximately 12 km by road from the TransCanada Highway (Hwy 11) and is in proximity to sources of power, railways and ports.

We seek Safe Harbor.