Mr. David Greenway reports

POCITOS I AND II LITHIUM NI 43-101 INFERRED MINERAL RESOURCE ESTIMATED AT 143,000 TONNES LITHIUM METAL 760,000 TONNES LITHIUM CARBONATE EQUIVALENT

Recharge Resources Ltd.'s inferred mineral resource estimate (MRE) for its Pocitos I and II lithium brine project in Salta province, Argentina, has been estimated at 143,000 tonnes of in situ lithium metal, and 13,000 tonnes lithium metal yield (using porosity estimates) which equates to a lithium carbonate equivalent (LCE) of 760,000 tonnes and 69,000 tonnes, respectively. The LCE is calculated from the ratio of lithium carbonate (Li2CO3) to Li metal (5.32:1). The calculations assume no process losses.

The company clarifies that the mine life should not have been reported in the previous press release, dated Dec. 20, 2023, and is redacted. Investors are cautioned to not refer to this information and only rely on the current information in this press release.

The MRE for the project is reported in accordance with National Instrument 43-101 and has been estimated in conformity with generally accepted CIM estimation of mineral resource and mineral reserves best practices guidelines. The mineral resources presented herein are not mineral reserves, and do not reflect demonstrated economic viability. The reported inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that all or any part of the mineral resource will be converted into a mineral reserve. All figures are rounded to reflect the relative accuracy of the estimates, and totals may not add correctly.

WSP reported the inferred resource MRE with a cut-off grade (COG) of 100 ppm (parts per million) lithium at 78,000 tonnes of in situ lithium metal, and 8,000 tonnes lithium metal yield which equates to a LCE of 414,000 tonnes and 42,000 tonnes respectively. The next milestone to upgrade the resource data is to do a pumping test as suggested by WSP in two new wells.

The board considers the project to continue to be viable and using the current estimates building a 20,000-tonne Ekosolve plant at the current lithium carbonate price (Dec. 15, 2023) of 97,500 yuan or $13,693 per tonne would provide the basis for a scoping study analysis given the plant mine life assuming the resource is not expanded through subsequent work as recommended by WSP.

WSP has provided a block model of approximately 200 m of depth in its inaugural National Instrument 43-101-compliant MRE and estimated the cost to achieve the next milestone of a measured and indicated MRE by drilling one exploration and one production well. Total estimated cost of approximately $935,000 (U.S.) (plus taxes), or $1.3-million (plus taxes) for the proposed two well program. The report includes some of the cost estimates from Ekosolve Ltd. for a 20,000-tonne lithium carbonate plant using solvent extraction that is inclusive of a HCl (hydrochloride) acid plant and a lithium carbonate plant. Block grades were checked visually on screen using Maptek Vulcan software and viewed in cross-sections and plans against the drill hole composites grades. This comparison provided good correlation between the input data and estimated values. No obvious discrepancies were observed.

David Greenway, president and chief executive officer, commented: "I am delighted with this 760,000-tonne LCE outcome estimate the WSP geologists, hydrogeologists and project engineers who have worked hard for more than three months to compute have delivered. The company is pushing forward on all fronts with our inaugural NI 43-101, with a pending drill program to continue to build on this report. These developments should make for an exciting next period for Recharge and its stakeholders at the Pocitos project."

WSP utilized information gathered from the NI 43-101 technical report dated June 30, 2023, completed by Panopus Pte. Ltd. and the May, 2023, MT survey, 2018 TEM survey, drilling programs, core logs and core porosity data from Geosystems Analysis Inc. and Core Laboratories to prepare the resource estimate. This is another milestone in the company's 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's clients up to 20,000 tonnes of lithium carbonate per year, as previously announced under a letter of intent of offtake.

Phil Thomas, the company's QP (qualified person), COO (chief operating officer) and director, recently made a visit to Shanghai, China, and met with Richlink and its clients and inspected a lithium chloride, and lithium n-butyl plant.

The full NI 43-101 report dated Dec. 18, 2023, and entitled "Technical Report For The Pocitos 1 and II, Salta Province, Argentina," can be found on the company's website and on SEDAR+ under the company's issuer profile.

About Pocitos lithium brine project

The Pocitos project is located approximately 10 kilometres from the township of Pocitos where there is gas, electricity and accommodation. Pocitos 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 and MT geophysics, and drilling three wells that had outstanding brine flow results. Locations for immediate follow-up drilling have already been designed and identified for coming exploration. Lithium values of 169 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 was 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.

Ekosolve produced lithium carbonate at a purity of 99.89 per cent, where extraction of the lithium from the brines was above 94 per cent, that is, 159 ppm of lithium would have been recovered from 169 ppm.

Technical report

Scientific and technical information relating to the Pocitos Salar property is supported by the technical report titled "NI 43-101 Technical Report Pocitos I and II, Salta Province, Argentina", dated Dec. 18, 2023, and prepared by Aaron Radonich, Jason Van den Akker and Ian Unsworth of WSP, for Recharge Resources. Reference should be made to the full text of the technical report, which was prepared in accordance with NI 43-101 and is available electronically on SEDAR+ under the company's issuer profile, for a description of the company's data verification and QA/QC (quality assurance/quality control) procedures.

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. Mr. Thomas joined the company in the capacity of COO and director on Nov. 21, 2023. He is a shareholder.

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.