Mr. David Greenway reports

RECHARGE PRODUCTION WELL AND RESOURCE EXPANSION WELL DRILLING PLAN AT THE POCITOS 1 LITHIUM BRINE PROJECT

Recharge Resources Ltd. has provided the following update on its drilling plans at the Pocitos 1 lithium brine project located near Pocitos township in Salta province, Argentina.

The company has outlined a plan to drill an additional three holes at the Pocitos project. The drill holes will be focused on:

• Resource expansion: The company is currently awaiting its much-anticipated National Instrument 43-101 maiden resource estimate being prepared by WSP Australia Pty. Ltd. Additional holes will be positioned using the previously completed MT (magnetotellurics) survey and NI 43-101 report to expand upon the maiden resource.
• Resource confidence: The wells will be ideally positioned to reclassify the resource from the indicated and inferred category to the measured category, and then, with Ekosolve engineering data, to the proven and probable category, which will be the premise of the company's follow-on scoping and bankable feasibility studies.
• Production ready: One of the three wells will be bored out to a production diameter in preparation for the installation of four to six other production wells, to allow up to 20,000 tonnes per year of lithium carbonate/lithium chloride to be produced from the proposed Ekosolve plant at the Pocitos project.

The drilling plan currently being reviewed is pending permits from the Salta mining courts and Mining Directorate.

David Greenway, president and chief executive officer, commented: "Recharge Resources is looking forward to its upcoming NI [National Instrument] 43-101-compliant maiden resource estimate, with follow on drilling with an objective of increasing the size and confidence of the resource, as well as preparing the project for the company's ultimate goal of being production ready in preparation of the construction of an Ekosolve plant at the Pocitos 1 project."

About Pocitos lithium brine project

The Pocitos 1 project is located approximately 10 kilometres from the township of Pocitos where there is gas, electricity and accommodation. Pocitos 1 is approximately 800 hectares and is accessible by road. Collective exploration totals over $2-million (U.S.) developing the project, including surface sampling, trenching, TEM (transient electromagnetic) and MT (magnetotellurics) geophysics, and drilling three wells that had outstanding brine flow results. Locations for immediate follow-up drilling have already been designed and identified for upcoming exploration.

Lithium values of 169 parts per million (ppm) from drill hole 3 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project's December, 2022, drill campaigns. A double packer sampling system in HQ diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates. A National Instrument 43-101 report has been released on the Pocitos 1 project.

Recharge is awaiting the completion of the process engineering work to be completed by Ekosolve to produce and assay the lithium carbonate being produced, where extraction was above 94 per cent of the contained lithium in the brine, that is, 158.86 ppm of lithium would have been recovered from 169 ppm.

WSP Australia is waiting on the relogging of the cores to be completed before it delivers the company's maiden resource estimate at Pocitos 1 that will result in an update of the NI 43-101 report completed by qualified person (QP) Phillip Thomas in June, 2023.

Qualified person

Mr. Thomas, BSc geol, 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. He visited the property between Jan. 15 and Jan. 22, 2023, and May 8, 2023, to select core to be sampled for resource estimate calculations.

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.