Mr. David Greenway reports

RECHARGE RESOURCES RECEIVES DRILL PERMIT FOR POCITOS 2 LITHIUM BRINE PROJECT

Recharge Resources Ltd. has received the drill permit to drill up to six additional holes at the Pocitos lithium brine project on the Pocitos 2 block in Pocitos salar, Argentina. The drill hole program will be implemented once the magnetotelluric data are attained in late May/early June and processed. The survey will penetrate to at least 600-metre depth.

Additional drilling across the contiguous Pocitos 1 and Pocitos 2 blocks will assist to determine the size of the potential resource as well as allow the confidence of the estimate to be moved from inferred to indicated and measured categories upon completion of this initial National Instrument 43-101.

As previously announced, the basis for the NI 43-101 report is well under way after Recharge's qualified person, Phillip Thomas set up the drill program in Argentina when he was there in November, 2022, again in January, 2023, and most recently in May of 2023 to measure and review core, flow rates and assays to create the anticipated NI 43-101-compliant report. External hydrologists working at Rincon nearby are also scheduled to visit and inspect the site and core.

Mr. Thomas, BSc, Geol, FAusIMM, MAIG, has spent the past 22 years exploring for lithium brines, including building and operating a pilot plant for production at Rincon salar (sold to Rio Tinto for $825-million (U.S.)) as well as he and his team explored the Pozuelos salar, producing an indicated and inferred resource, from four exploration wells (recently sold to Ganfeng for $962-million (U.S.)).

This is another milestone in the company's endeavour to build up to a 20,000-tonne Ekosolve direct lithium extraction (DLE) plant at the Pocitos project in order to supply Richlink Capital Pty. Ltd. up to 20,000 tonnes of lithium chloride/carbonate per year, as previously announced under a letter of intent of offtake.

Furthermore, Recharge is currently awaiting the results of its continuing recovery and carbonate conversion studies at the Ekosolve pilot plant at the University of Melbourne, Melbourne, Australia.

Ekosolve pre-engineering studies have shown that provided brine flow exceeds 35,000 megalitres per year, 110 parts per million lithium content and above have been deemed economic at a Class C estimate. Recharge successfully completed a 2022 drill campaign at Pocitos 1 assaying 169 ppm and over a two-week period averaging 161 ppm lithium. Further surface pit samples taken from the recently acquired contiguous Pocitos 2 project sampled 181 ppm lithium, the highest lithium value found on the Pocitos salar surface to date. All three drill holes at the project have had exceptional brine flow rates.

Chief executive officer David Greenway summarized: "Recharge is pushing forward on all fronts with drilling now completed and awaiting assays at the Brussels Creek copper-palladium-gold project. Drilling is pending at the Pocitos lithium brine project and a spring recon program now approved for the Georgia Lake lithium project. Pending drilling, NI 43-101 and testing at the Eksolove pilot plant should make for an exciting next period for Recharge and its stakeholders at the Pocitos lithium brine project."

About the Pocitos lithium brine project

The Pocitos project is located approximately 10 kilometres from the township of Pocitos where there are gas, electricity and Internet services. Pocitos (1 and 2) is approximately 1,352 hectares and is accessible by road. Collective exploration totalling over $2.0-million (U.S.) developing the project, including surface sampling, trenching, TEM geophysics and drilling three holes that had outstanding brine flow results. Locations for immediate follow-up drilling have already been designed and identified for coming exploration. The company's next step is to do a magnetotelluric geophysics survey to position the next drill holes. This survey will penetrate to more than 800 m.

Lithium values of up to 169 ppm from laboratory analysis conducted by Alex Stewart were recorded during the project's drill campaigns as recent as December, 2022. A double packer sampling system in HQ diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates.

Qualified person

Phillip Thomas, BSc, Geol, MBusM, FAusIMM, MAIG, MAIMVA (CMV), a qualified person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.

Mr. Thomas is independent of the company and is not a shareholder of Recharge Resources. Mr. Thomas visited the property to view the core between Jan. 15 and Jan. 22, 2023, and May 8, 2023, to determine if additional flow tests could be arranged.

About Recharge Resources Ltd.

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

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