Mr. J.C. St-Amour reports

IMAGINE LITHIUM DISCOVERS NEW CASINO ROYALE LITHIUM ZONE, INTERSECTS 1.04% LI2O OVER 12.80M NORTH OF JACKPOT MAIN ZONE

Imagine Lithium Inc. has intersected a new near-surface spodumene-bearing pegmatite with diamond drilling at the Casino Royale zone, located approximately 500 metres north of the Jackpot Main zone. The Jackpot lithium project is in the Georgia Lake pegmatite field, approximately 140 kilometres northeast of Thunder Bay, Ont. The Jackpot property is characterized by swarms of mineralized lithium-bearing granitic pegmatite dikes distributed across five zones on an 18,800-hectare land package.

Highlights of the 2024 drill program include:

• Casino Royale zone:
  • 1.09 per cent Li2O (lithium oxide) over 7.70 m from 84.85 m in hole JP-24-23;
  • 1.04 per cent Li2O over 12.80 m from 90.50 m in hole JP-24-24;
    • Including 1.35 per cent Li2O over 6.80 m from 96.50 m.
• Jackpot Main zone:
  • 1.34 per cent Li2O over 6.30 m from 50.50 m in hole JP-23-18;
  • 1.02 per cent Li2O over 10.10 m from 31.10 m in hole JP-23-24.

J.C. St-Amour, president of Imagine, commented: "This is an untested area of the property and we are pleased to have discovered a new mineralized pegmatite in this area of the vastly underexplored Jackpot property. The newly discovered, near-surface mineralization confirms our exploration model and continues to demonstrate that our significant land package can contain multiple lithium deposits. The Casino Royale zone has been traced over 750 m of strike length at surface, making it a potentially substantial new zone. Going forward, we will continue to focus our exploration efforts on new discoveries and resource expansion."

Results announced today demonstrate near-surface growth potential surrounding the Jackpot Main zone. The 2024 drill program was designed to test regional targets outside of the Jackpot Main zone that were identified during the 2023 prospecting and soil sampling programs. Drilling also tested boulders and outcrop located near the historical Point Lithium prospect (MDI42E05SW00021) and Carrot Lake occurrence (MDI42E05SW00023). A total of 2,691 m of drill core from 24 diamond drill holes has been completed in 2024.

Drilling by the company on the Jackpot property since 2018 totals 38,041 m. The attached table includes results from the Jackpot Main zone that were completed in 2023 and significant intervals from the continuing 2024 drill program that focused on targets to the north of the Jackpot Main zone.

The Casino Royale zone currently exceeds 750 m in strike length, delineated by surface grab samples and diamond drill intercepts. Holes JP-24-23 and JP-24-24 were drilled from the same set-up, at minus-50-degree and minus-75-degree dip, intersecting 1.09 per cent Li2O/7.70 m and 1.04 per cent Li2O/12.80 m, respectively. The Casino Royale zone includes the historical Carrot Lake occurrence (MDI42E05SW00023) and diamond drilling is continuing to test the surface trend of mineralization.

The company expects to publish a National Instrument 43-101 mineral resource estimate by the end of 2024 which will include drill results from the current program. The distinguishing feature of the Jackpot lithium project is the existing infrastructure in the area (roads, power, labour force) and the proximity to a major port and elevates it from more remote lithium projects. This infrastructure is expected to positively impact the overall economics of the project.

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. High- and low-concentration certified lithium standards, blanks and duplicates are used to validate the accuracy and precision of the assay results.

All collected core rock samples were put in sturdy plastic bags, tagged and sealed in the core shack under the supervision of a professional geologist. The sample number, depth and brief description of each sample is logged and entered to a digital database. Samples were split using a diamond saw with half of the sample remaining in the core box and the other being placed in a labelled sample bag. Duplicate samples were quarter split and placed into individual sample bags.

All sample bags were put into rice bags and stored securely before being delivered to Agat Laboratories in Thunder Bay, Ont. Samples are processed and crushed at the Agat facility in Thunder Bay. Lithium was analyzed by sodium peroxide fusion with inductively coupled plasma optical emission spectroscopy and inductively coupled plasma mass spectrometry finish.

Qualified person

The technical content of this news release was reviewed and approved by Jason Arnold, 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 north-northeast of Thunder Bay, Ont., 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 the Jackpot Main zone provided an estimated historical resource of two million tons at 1.09 per cent Li2O.

We seek Safe Harbor.