Mr. David Greenway reports

RECHARGE RESOURCES ADOPTS ESG POLICY AHEAD OF NI 43-101 RESOURCE ESTIMATE

Recharge Resources Ltd. has adopted a formal environmental, social and governance (ESG) policy ahead of its highly anticipated National Instrument 43-101 maiden resource estimate at the Pocitos One lithium brine project located near Pocitos township in Salta province, Argentina.

The company previously announced it had executed a technology licence agreement for countrywide use of Ekosolve lithium solvent extraction equipment to build a lithium plant capable of producing up to 20,000 tonnes of lithium carbonate annually at the Pocitos 1 lithium project in Salta, Argentina.

The Ekosolve process can efficiently manage the processing of the brines to produce lithium chloride or lithium carbonate with a grade higher than 99.5 per cent and a recovery of more than 95 per cent, far exceeding any published direct lithium extraction method available to date.

The key advantage of the Ekosolve system is the high rate of lithium yield targeting 95-plus per cent. Critically, operating costs are reduced by more than 90 per cent, as more than 98.5 per cent of the solvent is reclaimed after each cycle. The solvents are biodegradable. Other DLE systems such as adsorption may achieve 72-per-cent to 80-per-cent yield, fractional crystallization of 50 per cent to 70 per cent and ion exchange up to 80 per cent, with requirements of high lithium concentrations and neutral pH. In adsorption and ion exchange systems, extra processes may be required to manage the magnesium and boron in the brines, whereas this is not an issue with the Ekosolve process.

For Recharge Resources, the expected capital expenditure and operational costs are projected to be significantly lower. A key advantage of this approach is that it eliminates the need for evaporation ponds, resulting in a more environmentally friendly solution.

The agreement contemplates the development of a multiphase buildout to 20,000 tonnes per year output of lithium carbonate at the Pocitos 1 lithium brine project. Upon commencement of production at the Pocitos 1 project, a licence fee equal to 5 per cent of delivered product will be due to Ekosolve. Further scoping studies and permitting will be required to begin construction of the plant. Preliminary planning has commenced with water and quarry permits for earthworks being prepared.

David Greenway, chief executive officer of Recharge, stated, "Recharge aspires to become a leader in the battery minerals industry to support the transition to a carbon-free economy, while growing shareholder value through the sustainable development and operation of our assets."

The ESG policy extends beyond just the corporate offices and project sites -- it also encompasses all existing and future operational locations throughout their entire life cycle. This ensures a comprehensive approach to environmental, social and governance aspects in all areas of operation.

"As we embark on our journey at the Pocitos lithium brine project, we look to embed our new ESG policy into every corporate, development and operational aspect of our business throughout their life cycles, we do so believe that this approach will maximize the benefits our organization delivers to all stakeholders for the long term," Recharge's Mr. Greenway said.

The company expects all business partners to adhere to the policy and will work with them to achieve compliance. More about the company's newly adopted ESG policy will be uploaded to the company's website.

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 (magnetotelluric) 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.

Qualified person

Phillip 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 joined the company in the capacity of chief operating officer on Nov. 21, 2023. He is a shareholder and officer.

Restricted share unit (RSU) issuance

Recharge announces it has granted 1.8 million restricted share units to consultants of the company. The RSUs are valid for a term of one year and under the terms of the company's restricted share unit plan.

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.