Mr. Ali Haji reports

LITHIUM ION ENERGY ANNOUNCES WARRANT EXTENSION

Lithium Ion Energy Ltd. intends to extend the expiry date of an aggregate 11.5 million outstanding common share purchase warrants of the company by 12 months to April 12, 2025, and a total of four million outstanding common share purchase warrants of the company by 12 months to July 20, 2025.

The April warrants were issued pursuant to a public offering, which closed on April 13, 2021, and are set to expire on April 12, 2024. The April warrants were issued pursuant to a warrant indenture dated April 13, 2021, between the company and TSX Trust, and each April warrant entitles the holder thereof to acquire one common share of the company at a price of 70 cents. The July warrants were issued pursuant to a non-brokered private placement that closed on July 20, 2023, and are set to expire on July 20, 2024. Each July warrant entitles the holder thereof to acquire one common share of the company at a price of 40 cents.

The company believes that the extension of the warrants is reasonable and necessary in the context of the overall market, as it increases the likelihood that any additional cash needs of the company could be financed through the exercise of the warrants.

The extension remains subject to receipt of approval of the TSX Venture Exchange.

About Lithium Ion Energy Ltd.

Lithium Ion is committed to exploring and developing high-quality lithium resources in strategic jurisdictions. Lithium Ion's flagship project, the 63,000-plus-hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. Lithium Ion also holds the 29,000-plus-hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in the Northwest Territories, Canada, Lithium Ion has enhanced its lithium asset and jurisdiction profile. Lithium Ion is well poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium.

We seek Safe Harbor.