Mr. Dale Ginn reports

LITHIUM ONE IDENTIFIES LCT ENRICHMENT TREND AT TWO PROPERTIES IN JAMES BAY, QUEBEC

Lithium One Metals Inc. has released results from phase 1 of its exploration campaign in the James Bay lithium district in Quebec. A systematic sampling and mapping program has been completed at the Highway, Taycan, Bus and Bugatti properties, with initial results highlighting an elevated trend of lithium-cesium-tantalum (LCT) pegmatite indicators at Highway and Bus properties. The newly identified trend will be prioritized for drill testing in the coming multiproject drill program.

Highlights:

• LCT enrichment trend at Highway and Bus properties: Abundant pegmatites were mapped on all four properties with anomalous lithium, cesium, tantalum and rubidium results returned in initial samples from Highway and Bus. These results highlight a new trend of elevated LCT pegmatite indicator elements, which will be the focus of the company's next phase of exploration.
• Drill program to commence in early Q1 2024: Lithium One has identified several target areas for drill testing and permit applications have been submitted.

Result discussion

The Highway property returned eight samples with assays above 150 parts per million lithium, with the highest being 539 parts per million lithium in sample 267199. A total of 47 samples returned anomalous amounts of one or more marker elements, including lithium (greater than 150 parts per million), cesium (greater than 50 parts per million), rubidium (greater than 900 parts per million) and tantalum (greater than 20 parts per million). The highest concentration of anomalous results is associated with observed lepidolite in the field.

On the Bus property, nine of 20 samples collected returned anomalies in marker elements. Samples 710588 and 710894 returned 155 parts per million lithium and 182 parts per million lithium, respectively.

The anomalous samples collected are spatially correlated, identifying the enrichment trends for both properties. The enrichment trends identified in surface sampling are indicative of LCT pegmatite prospectivity and will be followed up on with drilling in 2024.

The technical content of this news release has been reviewed and approved by Carl Ginn, PGeo, a qualified person pursuant to National Instrument 43-101.

About Lithium One Metals Inc.

Lithium One Metals is a Canadian exploration company specializing in the acquisition and development of high-potential lithium properties in Ontario and Quebec. The company's team of experienced geologists and prospectors are at the forefront of the search for the next generation of lithium deposits.

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