Mr. David Greenway reports

RECHARGE RESOURCES ANNOUNCES NAME CHANGE AND INTENTION TO SPIN-OUT PINCHI NICKEL PROJECT AND REDONDA COPPER PROJECT TO CREATE TWO NEW PUBLIC COMPANIES OWNED BY EXISTING RECHARGE SHAREHOLDERS

Effective March 7, 2025, Recharge Resources Ltd.'s name will change from Recharge Resources to Vanguard Mining Corp. Also, effective March 7, 2025, the trading symbol for the company will change from RR to UUU. The new Cusip number will be 921966 10 7 and the new ISIN will be CA 921966 10 7 6. The share capital of the company is unchanged.

The company plans to spin out its non-core assets to make two separate reporting issuers (individually Spinco or together Spincos) with the intention of listing them on multiple North American stock exchanges, with the initial target being listings on the Canadian Securities Exchange.

The president and chief executive officer of Recharge Resources, David Greenway, states: "We don't believe the market is fully valuing the sum of our portfolio and we see this as the ideal solution to ensure all of our highly prospective projects get the attention and command the valuation of which they deserve, with purpose-built teams in place for each. This will allow Recharge to streamline its focus towards Brussels Creek and for the company to refocus on identifying and acquiring uranium exploration and development opportunities. Recharge's ultimate goal is to provide value to shareholders by providing them a pro rata share and benefit from the creation of two new publicly traded exploration companies. This creates a compelling new dynamic to our investment thesis, as investors will stand to own shares in three public companies that are on three clear paths."

The company has reserved the names Blackstone Copper Corp., which will own the company's interest in the Rendonda copper project, and Brookefield Mining Corp., which will own the company's Pinchi nickel project.

The company will work on both spinouts simultaneously and an update will be provided as to the record dates for which investors will need to hold shares of Recharge to benefit from the spinouts.

About Pinchi Lake nickel project -- Brookefield Mining

The Murray Ridge and Pinchi Lake nickel projects are located approximately 15 to 30 kilometres northwest of Fort St. James and 120 kilometres northwest of Prince George in central British Columbia. Pinchi Lake was previously explored by Nanton Nickel Corp., consisting of three separate claim blocks totalling 3,922.64 hectares. These claims were selected to cover areas with the best sampling results (greater than 0.20 per cent nickel in rocks) reported by Nanton Nickel in 2013, shortly after the discovery of FPX Nickel Corp.'s Decar nickel property.

Awaruite, a naturally occurring nickel-iron alloy, was confirmed to contribute to the nickel values. Geological mapping, prospecting and geochemical soil sampling have identified favourable geology and structures on the property, including localized serpentinization associated with ultramafic rocks. The geology of the Decar nickel project, located 60 kilometres to the southwest, is analogous, featuring a suite of ultramafic intrusions that host widely disseminated, coarse-grained awaruite mineralization.

Awaruite (Ni2Fe-Ni3Fe) is composed of approximately 75 per cent nickel, 25 per cent iron and 0 per cent sulphur, making it a form of natural steel. The absence of sulphur enables the concentrate to be shipped directly to steel mills, eliminating the need for smelting and refining processes and minimizing environmental impacts. The project was announced under option to Ranchero Resources on Nov. 21, 2023.

The company further announces that its option of the Pinchi Lake property to Ranchero Gold Corp. as announced on Nov. 21, 2023, has been terminated by mutual agreement.

About Redonda copper project -- Blackstone Copper

Recharge Resources has entered into an agreement with Stamper Oil & Gas Corp., whereby Recharge may earn up to a 50-per-cent interest in the Redonda project, located within the Vancouver mining division of B.C.

Recharge, on Dec. 4, 2024, announced the following exploration update at the project.

Recharge Resources has provided an exploration update from its 2,746.46-hectare Redonda copper-molybdenum project, located within the Vancouver mining division of B.C.

Recent drilling at the project returned up to 142.6 metres (467.8 feet) of 0.279 per cent copper and 0.0281 per cent molybdenum.

The company has received excellent metallurgical test results by Process Mineralogical Consulting Ltd. (PMC) from the Redonda copper, molybdenum and rhenium drill program.

The main copper-bearing and molybdenum-bearing phases in the master composite are chalcopyrite and molybdenite, respectively. This material reports 0.33 weight per cent copper, 5.74 weight per cent iron and 0.33 weight per cent molybdenum, accompanied by 2.3 parts per million silver.

Flotation test work suggests that the initial samples and exploratory test work are successful in producing copper recoveries ranging from 94.7 per cent to 96.9 per cent and molybdenum recoveries ranging from 92.2 per cent to 95.6 per cent after five stages of rougher flotation tests.

The metallurgical program was coupled with detailed mineralogical invest.

About the Redonda project

Recharge has entered into a binding earn-in option agreement with Stamper, whereby Recharge may earn up to a 50-per-cent interest in the Redonda project, located within the Vancouver mining division of B.C.

The project, previously explored by Teck Resources Ltd. (previously Teck Corp.), has had a total of 14 holes drilled, all showing consistent values with widespread mineralization near surface. Teck drilled a total of nine NQ core holes for a total of 1,681 metres (5,515 feet) at the project in 1979, with recent follow-up drilling completed in 2023 for a total of five holes and 799.81 metres (2,624 feet).

The project encompasses nine claims covering a total of 2,726 hectares (6,736 acres) and is situated 40 kilometres northeast of Campbell River, B.C. The Redonda project benefits from year-round access via regularly scheduled barge service from Campbell River through Marine Link Transportation, a marine freight solutions provider. From Redonda Bay, access to the project is facilitated by five kilometres of recently upgraded logging road. Active logging operations ensure a well-maintained network of forest service roads throughout the claims area. Work in 2021 proceeded under a letter of support from the Klahoose First Nation, acknowledging its traditional territory, along with a free-use permit, drill permit and induced polarization (IP) exemption from British Columbia's Ministry of Energy, Mines and Low Carbon Innovation (EMLI).

Further trenching sampling returned consistent values, with the drilling returning up to 45 metres of 0.18 per cent copper and 0.13 per cent molybdenum at surface, as outlined in an attached table.

The regional setting of the Redonda property is part of the Coast suture zone between the Wrangellia terrane and the Coast plutonic complex. In the claim area, early Cretaceous dioritic intrusive rocks of the Coast plutonic complex has been intruded by at least three later intrusive units, including a quartz plug, a previously interpreted wide hornblende dike that is locally brecciated over its 600-metre exposed length and several smaller feldspar dikes that cut dioritic rocks near the southwest margin of the previously interpreted hornblende-rich body. Higher concentrations of copper-molybdenum mineralization are closely associated with the hornblende dike, particularly in areas where it has been brecciated. The geological setting of the mineralization on the Redonda mineral claims shares a number of features similar to those observed at the Okover copper-molybdenum porphyry deposit located 34 kilometres to the southeast, north of Powell River and the Gambier copper deposit in Howe Sound.

Spinouts

The completion of the proposed spinout transactions and contemplated distribution of Spinco shares to Recharge shareholders are subject to a number of conditions, including the completion of legal and tax structuring analyses, completion of financial analysis, determination of the structure and amount of Recharge's financing of Spinco, determination of final details of the transactions, settlement of the board and management team for Spinco, required regulatory approvals, any required shareholder approval, and the listing of the Spinco shares on the CSE.

There is no certainty that the spinout transactions will be completed on the terms proposed or at all. The board of Recharge may determine to not proceed with the transactions should there be a change in market conditions or investor interest, or should another opportunity arise that would similarly enhance value to Recharge shareholders. The company is still contemplating the structure with which investors of Recharge will receive shares on a pro rata basis to attract new financing into the Spincos.

The company will provide updates when further details of the proposed spinout transactions are determined.

About Recharge Resources Ltd.

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals and uranium to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

We seek Safe Harbor.