Mr. David Greenway reports

EKOSOLVE EXTRACTS 94.9% LITHIUM FROM POCITOS 1 BRINES

Recharge Resources Ltd.'s previously announced Ekosolve lithium solvent exchange extraction process has been able to extract 94.9 per cent of the lithium from the brines provided from the company's 2022 DDH3 drill program at the Pocitos 1 lithium brine project located in Salta, Argentina.

The highlights are:

• Ekosolve DLE extraction technology pilot plant tested at the University of Melbourne achieved 94.9-per-cent extraction efficiency with brines at average lithium concentration of 86 parts per million Li.
• Lithium recovered from 85.08 ppm Li in brine was 80.76 ppm Li.
• The result is slightly better than previous brines tested and second-highest recovery recorded.
• Lithium chloride salt production is the next stage of processing, as potential offtake partners of Richlink have indicated their preference for lithium chloride.
• Brines sampled by the packet test at 363 metres recorded 169 ppm Li.
• The company will start a new drill/production well program when the permits are issued by Salta Mines Department.

Associate prof. Dr. Kathryn Mumford from the University of Melbourne commented: "This result is consistent with other brines tested from the Pozuelos salar. It demonstrates that the extraction organic solvents have good extractability for the lithium in the salt lake brines from Pocitos salar."

The average of brines tested during packer tests were 161 ppm Li at 363 m depth and the maximum value was 169 ppm Li (refer to press release dated Jan. 5, 2023).

Testing of efficiency for separating and purifying lithium and the removal of cations was conducted, with boron, calcium, potassium and magnesium extracted to the solvents and sodium stripped into the brine.

Chief executive officer David Greenway commented:

"We are delighted with the Ekosolve pilot plant test work results that demonstrates the potential viability of this project with 94.9-per-cent recovery of the brine, that implies it will be economic at higher lithium concentrations and we will not lose lithium due to sequences of low concentrations in the brine. The technical team will continue to advance the project with the MT geophysics compiled report when received in the next few weeks, and a drilling program where we can deliver an indicated and measured resource. WSP are currently examining the porosity results from the 2018 campaign with the view to including them in our NI 43-101 resource estimate."

The results of the magnetotelleric (MT) survey were excellent and the company's technical team is working on the next round of drill targets to the western side of the Pocitos 1 concession.

Ekosolve pre-engineering studies have previously shown that providing brine flow is in excess of 35,000 megalitres per year, with 110 ppm Li content and above have been deemed economic. Recharge successfully completed a 2022 drill campaign at Pocitos 1 assaying 169 ppm Li and over a two-week period averaging 161 ppm Li. 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.

Phil Thomas, who is the company's qualified person, 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 PLC for $825-million (U.S.)); as well, he and his team explored the Pozuelos salar, producing an indicated and inferred resource, from four exploration wells (recently sold to Ganfeng Lithium Co. Ltd. for $962-million (U.S.)).

CEO Mr. 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 43-101, a completed MT 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 is 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 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 ppm Li 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

Mr. Thomas, BSc, geology, MBusM, FAusIMM, MAIG, MAIMVA (CMV), a qualified person as defined under National Instrument 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Panopus Pte. Ltd. owns 50 per cent of Ekosolve and Mr. Thomas owns 100 per cent of Panopus.

Mr. Thomas is independent of the company and is not a shareholder of Recharge Resources. Mr. Thomas visited the property to view the core and drilling between Jan. 15 and 22, 2023, and May 8 to 10, 2023, to determine if additional flow tests could be arranged.

Market awareness program

As part of Recharge's continuing strategy to raise the profile of Recharge's projects to investors, the company has further extended its engagement with TD Media LLC, also known as Lifewater Media Digital Agency, based in Sugarland, Tex., United States. Lifewater Media specializes in delivering omnichannel programmatic advertising, artificial intelligence implementations and predictive key performance indicator modelling through its use of detailed, real-time measurements for brand campaigns. The extended engagement with Lifewater Media will be for an additional 30-day term expiring on Oct. 21, 2023, for an additional fee of $100,000 (U.S.) to the company. The engagement of Lifewater Media was previously extended for a period of six months expiring on Sept. 21, 2023, as announced in the company's news release dated March 14, 2023. Lifewater Media and Recharge are not related parties and operate at arm's length. Neither Lifewater Media nor its principals have any interest in the company's securities, directly or indirectly, or any right or intent to acquire such an interest. Lifewater can be reached by e-mail at Info@lifewatermedia.com.

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.

We seek Safe Harbor.