Mr. David Greenway reports

RECHARGE RESOURCES ISSUES A NI 43-101 TECHNICAL REPORT ON POCITOS 1 LITHIUM CONCESSION

Recharge Resources Ltd. has filed on SEDAR an independent technical report prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects supporting the results of its preliminary exploration at its Pocitos 1 project located near Pocitos township in Salta province, Argentina.

The results of the exploration were previously reported in the company's news releases dated Nov. 17, 2022, Jan. 5, 2023, and there are no material differences in the report from those results. The effective date of the report is June 30, 2023.

The highlights are:

• Highest lithium value tested using packer system was 169 parts per million lithium at a depth 363 metres.
• The MT (magnetotellurics) geophysics survey has discovered a large area to the west with a resistivity of 0.4 ohm metre and a depth of more than one kilometre.
• Ekosolve DLE (direct lithium extraction) technology pilot plant test work at University of Melbourne achieved 94.9-per-cent extraction efficiency with brines at an average lithium concentration of 86 ppm lithium.
• Lithium recovery using the Ekosolve system from 85.08 ppm Li in brine was 80.76 ppm lithium.
• Significant brine flow was recorded in 2018 wells PO1 and PO2 and brine and gas in PO3 drilled in November, 2022.
• The company will start a new drill/production well program when the permits are issued by the Salta Mines Department.

The full report dated June 30, 2023, and entitled "Technical Report For The Pocitos Salar Lithium Concession, Salta Province, Argentina," can be found on the company's website and on SEDAR under the company's issuer profile.

This is another milestone in the company's continuing 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 clients up to 20,000 tonnes of lithium chloride/carbonate per year, as previously announced under a letter of intent of offtake.

David Greenway, president and chief executive officer, commented: "I am delighted with the NI 43-101 report that our QP Phil Thomas has produced and the detail he has been able to research. The WSP Global project engineers are currently examining the porosity results from the 2018 campaign and conducting additional core testing with the view to including them in our NI 43-101 update resource estimate. I am excited to see things continue to develop positively for the Pocitos project. We are pushing forward on all fronts with our 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 project."

About the report author

Mr. Thomas 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 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.)).

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 is approximately 800 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 from laboratory analysis conducted by Alex Stewart in 2023 were recorded during the project's drill campaigns as recently as December, 2022. A packer sampling system in HQ3 then NQ diamond drill holes were 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 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. 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.

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.