Mr. David Greenway reports

RECHARGE RESOURCES LITHIUM BRINE SAMPLE TESTING COMPLETED AT EKOSOLVE PILOT PLANT WITH DATA PROCESSING NOW UNDERWAY

Recharge Resources Ltd.'s brine samples taken from the company's 2022 drill program at the Pocitos lithium brine project in Salta, Argentina, have been run through rigorous testing at the Ekosolve pilot plant at the University of Melbourne. This study and process act as a pre-engineering step for Ekosolve extraction performance and to test recovery rates, in consideration for a full-sized plant scale-up of up to a 20,000-tonne-per-year Ekosolve lithium brine extraction plant implementation at the Pocitos project. Data aggregation and the reporting process is now under way with recovery rates expected in the coming weeks.

Ekosolve pre-engineering studies have previously shown that providing brine flow is in excess of 35,000 megalitres per year, with 110 parts per million lithium content and above have been deemed economic. Recharge successfully completed a 2022 drill campaign at Pocitos 1 assaying 169 parts per million and over a two-week period averaging 161 parts per million lithium. All three drill holes at Pocitos to date have had exceptional brine flow rates.

The Ekosolve lithium solvent exchange extraction process can efficiently manage the processing of the brines to produce lithium carbonate with a grade higher than 99.5 per cent and a recovery of 96 per cent, far exceeding any ion exchange or adsorption process available to date. Ekosolve is licensed by the University of Melbourne, Australia, to Ekosolve Ltd., an unlisted public company.

Qualified person Phil Thomas, BSc (geology), 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.)), and 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.)).

Chief executive officer David Greenway summarized: "We are excited to see things continue to develop positively for the Pocitos lithium brine project. Recharge is pushing forward on all fronts with an inaugural NI [National Instrument] 43-101, a completed MT [magnetotelluric] geophysics survey, a pending drill program and a planned upcoming NI 43-101 resource estimate. The recently completed MT survey shows us exactly where the conductive brines containing lithium have been concentrating. These developments should make for an exciting next period for Recharge and its stakeholders at the Pocitos lithium brine project."

About 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-million (U.S.) developing the project, including surface sampling, trenching, TEM (transient electromagnetic) and MT geophysics and three diamond drill holes that resulted in outstanding brine flow results. Locations for immediate follow-up drilling have already been designed and permits are in place pending submission of final details.

Lithium values of up to 169 parts per million 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 was drilled to a depth of 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 (geology), 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 on 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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