Mr. Chris Cooper reports

SPOD LITHIUM CORP. AMENDS MINERAL OPTION AGREEMENT ON MEGALI PROPERTY

Spod Lithium Corp. has amended its mineral option agreement with Visible Gold Mines Inc. respecting the Megali exploration property dated Aug. 3, 2022 (see Spod's press release dated Aug. 4, 2022).

Pursuant to the amended agreement, Spod is required to conduct at least $350,000 in exploration expenditures on the property on or before Sept. 18, 2023, to meet its first-year option obligations under the agreement. Spod has already met the other first-year option obligations, issuing 700,000 Class A common shares of the company to Visible at a deemed price of nine cents per share and making a cash payment of $50,000 to Visible. The shares are subject to a statutory four-month hold period.

The purpose of the extension is due to the restrictions imposed by the Quebec government earlier in the summer because of the regional forest fire situation. These restrictions directly impacted exploration operations, and, therefore, the company was delayed in kicking off its current and continuing surface exploration field activities. As previously announced by Spod on Aug. 10, exploration activities have begun, and the exploration team is making excellent progress executing on the exploration plan. The company is eager to report exploration results as they become available.

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 regions of Ontario, Canada.

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