Mr. Chris Cooper reports

SPOD LITHIUM CORP. PROVIDES EXPLORATION UPDATE ON NORTH NIPIGON/NIEMI PEGMATITE PROJECT

Spod Lithium Corp. has provided an exploration update on its phase I exploration program for its 100-per-cent-owned North Nipigon/Niemi lithium project in the Georgia Lake pegmatite field, Ontario. DCX Geological Consulting has successfully completed the phase I program on the 8,679-hectare project, in which it identified numerous high-priority target areas by overlaying historical data with geophysical and LiDAR (light detection and ranging) data collected from the company's February, 2023, Mag/VLF airborne survey. The phase I program focused on the most prospective areas for spodumene-bearing pegmatite bodies on the project. The program covered the Niemi block, North Nipigon Block A and North Nipigon Block C. A total of 107 surface grab samples were collected and submitted to the Actlabs facility in Thunder Bay, Ont. (assays pending). North Nipigon Block B remains untested due to access restrictions and the phase II exploration program will include mapping and sampling on this highly prospective and historically underexplored area.

The phase I program successfully identified three high-priority targets for bedrock stripping and channel sampling. Multiple areas of thin overburden cover and black spruce swamp were identified, and a soil/tree bark sampling program is being mobilized. Prospecting will continue on all claim blocks with detailed mapping planned for the three bedrock stripping areas identified by this phase I work.

Phase I program highlights

The phase I program successfully identified:

• Two mica granite exposures along the Niemi trend (MDI42E05SW00017) that will be the focus of bedrock stripping and sampling on the Niemi block.
• Multiple bedrock stripping targets on the north shore of Parole Lake, near spodumene-rich boulders which returned assay values of 0.764 per cent Li2O and 0.685 per cent Li2O (Ontario Geological Survey AFRI 20000019444) on North Nipigon Block A.
• New bedrock stripping targets on North Nipigon Block C.
• Geochemical (soil/tree bark) sampling areas on Block A and Block C.

Chris Cooper, Spod Lithium's chief executive officer, commented: "We are very encouraged by the initial outcome of phase 1 of our exploration program. We are confident there is potential for multiple exploration discoveries over the North Nipigon and Niemi properties and look forward to the assay results from the over 100 grab samples sent to Actlabs."

North Nipigon-Niemi project

The North Nipigon-Niemi project is underlain by Archean metasediments and granites, along with Keweenawan age diabase. Pegmatites in the region occur close to and within the granitic plutons. The project is contiguous with RockTech Lithium's Georgia Lake project and Imagine Lithium's Jackpot lithium project. RockTech's project contains a National Instrument 43-101-compliant indicated resource of 10.6 million tonnes (Mt) at 0.88 per cent Li20 and an NI 43-101 compliant inferred resource of 4.2 Mt of 1.00 per cent Li2O.

James Bay, Quebec

The company is eager to begin its planned exploration program on its Megali and Lithium Grande 4 projects. The recent restrictions imposed by the Quebec government, because of the regional forest fire situation, is directly impacting exploration operations, and, therefore, the company is temporarily delayed in kicking off its surface exploration field activities until the situation improves. The company is actively monitoring the situation to ensure all company activities are compliant with respective governmental decrees and to ensure the safety of personnel associated with the property. The company will provide further updates as information becomes available.

Qualified person

Jason Arnold, PGeo, president of DCX Geological Consulting and an independent qualified person as such term is defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release. The qualified person has not completed sufficient work to verify the historic information on the property and in the vicinity, particularly regarding historical drill results, historical mine production and historical grab samples. However, the qualified person believes that these results were completed to industry standard practices. The information provides an indication of the exploration potential of the property but may not be representative of expected results. Also, mineralization hosted on adjacent and/or nearby properties, particularly with respect to neighbouring mineral resources, is not necessarily indicative of mineralization hosted on the company's property.

About Spod Lithium Corp.

Spod Lithium is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals. The company's flagship assets are its lithium properties located in the James Bay region of Quebec and the Nipigon and Niemi region of Ontario, Canada.

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