Mr. David Greenway reports

EKOSOLVE PILOT PLANT SUCCESSFULLY PRODUCES LITHIUM CHLORIDE FROM RECHARGE'S POCITOS 1 LITHIUM BRINES

Recharge Resources Ltd.'s Ekosolve pilot plant has produced lithium chloride salt (LiCl) to a purity of over 99 per cent processed from brines sampled from the company's 2022 drill program at the Pocitos 1 lithium brine project located near Pocitos township in Salta province, Argentina.

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. As previously announced the Ekosolve lithium solvent exchange extraction process has been able to extract 94.9 per cent of the lithium (Li) from the brines provided from the company's 2022 DDH3 drill program.

The brines were processed at the Ekosolve pilot plant using the Ekosolve 10-stage extraction, washing and stripping process to produce lithium chloride, as contemplated as an end product under the offtake letter of intent between Recharge and Richlink Capital Pty. Ltd. and its client to provide between 10,000 and 20,000 tonnes of LiCl per year.

This study and process were a pre-engineering step for Ekosolve extraction performance in consideration for full-sized plant scale-up of 10,000 to 20,000 tonnes per year Ekosolve lithium brine extraction plant implementation at the Pocitos project, under the company's technology licensing agreement announced on Sept. 27, 2022.

The next step is to further process the lithium chloride to produce and test lithium carbonate from the Pocitos brines.

Chief executive officer David Greenway commented: "We are delighted with the Ekosolve pilot plant test results, showcasing the project's potential viability with an impressive 94.9-per-cent brine recovery and the successful production of lithium chloride with lithium carbonate processing on the horizon. The company eagerly anticipates the inaugural NI 43-101 compliant resource estimate, currently under development by WSP Australia, underscoring the exciting times ahead for Recharge, the Pocitos 1 project and its stakeholders."

Ekosolve pre-engineering studies have previously shown that providing brine flow in excess of 35,000 megalitres per year, with 110 parts per million Li content and above, has 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 pp m 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.

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

Phillip 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.

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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