Mr. David Greenway reports

RECHARGE RESOURCES ARRANGES NON-BROKERED PRIVATE PLACEMENT OF $2,122,500

Recharge Resources Ltd. has arranged a non-brokered private placement to raise gross proceeds of $2,122,500.

The financing will consist of up to 7.89 million units at a price of 25 cents per unit and up to 454,545 flow-through units at a price of 33 cents per FT unit. Each unit is composed of one common share and one transferable warrant, with each warrant entitling the holder to purchase one additional common share for a period of 12 months at a price of 33 cents per share. Each FT unit is composed of one flow-through common share and one transferable warrant, with each FT warrant entitled the holder to purchase one common share for a period of 12 months at a price of 35 cents per share.

In the event the company's common shares close at or greater than 50 cents per share for a period of five consecutive trading days, the company may accelerate the expiry date of the warrants and FT warrants by issuing a press release or other form of notice permitted by the warrant certificate to the holders thereof, and in such case, the warrants and FT warrants will expire on the 30th day after the date on which such notice is given by the company. In addition, the warrants and FT warrants shall contain certain provisions such that the holder shall only be entitled to exercise such warrants to the extent that the holder will own (together with any person acting jointly or in concert with the holder), directly or indirectly, less than 10 per cent of the issued and outstanding common shares of the company immediately following such exercise.

The company will use the proceeds from the financing for its drill program, property payments and general working capital. All securities issued will be subject to a four-month-and-one-day hold period from the date of issuance pursuant to applicable securities legislation.

About Recharge Resources Ltd.

Recharge 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.