Mr. Charles Ross reports

TEARLACH DISCOVERS BERYL AND NB-TA-OXIDE PEGMATITES ON GEORGINA PROPERTIES

Tearlach Resources Ltd. has discovered key lithium mineralization indicator minerals (that is, beryl and niobium-tantalum-oxide minerals) in pegmatites on the Georgina properties, Jellicoe, Northern Ontario, during the 2023 summer exploration program. The project is located nine kilometres east of Rock Tech Lithium's Georgia Lake project and is being explored for lithium mineralization hosted in spodumene pegmatites. This is the first time that beryl and Nb-Ta-oxides have been identified on the project area.

Highlights:

• Sampling on newly staked claims on Parks Lake has identified rare-element pegmatites with beryl, Nb-Ta-oxides and garnet;
• Discovered up to five centimetres beryl on Parks Lake, sample 889509;
• Discovered Nb-Ta-oxide minerals five cm in diameter on Parks Lake, sample 889654;
• Assays indicate anomalous beryllium, rubidium, cesium, Nb, Ta and tin contents in pegmatites on the property;
• Tearlach's geology team will target areas along strike of the rare-element pegmatite outcrops as the presence of beryl and Nb-Ta-oxides are typically associated with lithium mineralization.

Georgina properties

Two exploration targets that host rare-element mineralization with anomalous Be, Rb, Cs, Nb, Sn and Ta contents have been identified on the Georgina properties. Both exploration targets have the potential to host lithium mineralization in the form of spodumene. These exploration targets are Iris Lake and Parks Lake.

Iris Lake exploration target

The Iris Lake exploration target was initially identified by the presence of garnet muscovite aplite (sodium-rich pegmatite) in the field. The potential to host rare-element mineralization was confirmed by the assays of seven samples with anomalous rare elements around Iris Lake.

The attached table shows the assays for the anomalous rare-element pegmatite samples received to date on the Georgina properties. These samples all plot along an east-west pegmatite trend around Iris Lake except for samples 965118 and 965119. Iris Lake is located 780 metres north of Parks Lake, with excellent road access using Camp 51 Road. Iris Lake is named after the wild iris flowers that grow along the shoreline. Tearlach's geology team conducted additional sampling along strike of the Iris Lake pegmatite trend, and assays are pending.

Parks Lake exploration target

Following the discovery of sodium-rich and potassium-rich pegmatites at Iris Lake, Tearlach staked open ground on Parks Lake (see press release dated July 20, 2023). The assays above confirmed the fractionated nature of Iris Lake and also Parks Lake (samples 965118 and 965119). According to the pegmatite deposit model, pegmatite melts fractionate from barren to Be to Be plus Nb to Be plus Ta plus lithium enrichment. Thus, enrichment in rare elements (that is, Be, Rb, Cs, Nb, Sn and Ta) indicates a strong potential for lithium mineralization nearby. Tearlach geologists then began mapping on Parks Lake using boat access. Outcrops are abundant on the islands within and along the shoreline of Parks Lake.

Dr. Julie Selway, vice-president of exploration, exclaimed: "Our field geologists are on a Treasure Hunt for lithium mineralization and the anomalous rare-element assays at Iris Lake and the discovery of beryl and Nb-Ta-oxide minerals at Parks Lakes indicates that we are close to discovering lithium mineralization. This reminds me of Ontario's Operation Treasure Hunt Open File report 6199 (2008), in which Fred Breaks and I found anomalous Rb and Cs in bulk rock samples and beryl, Nb-Ta-oxide minerals and tourmaline in the Parks Lake area."

Sampling and mapping methodology

As of Aug. 2, 2023, a total of 230 grab sample assays have been completed and returned by Actlabs, Ancaster, Ont., throughout the Georgina Stairs and Georgina East properties from the 2023 summer mapping program. Additional samples have assays pending. These grab samples cover all of the lithologies present on the properties: granite, pegmatite, metasedimentary rocks and diabase. This assay database contains samples with anomalous rare elements (Be, Rb, Cs, Nb, Sn, Ta), which are associated with lithium mineralization.

Quality assurance/quality control

The grab samples were delivered by Tearlach geologists to Actlabs, Geraldton or Thunder Bay preparation labs. Samples were assayed by Actlabs, Ancaster analytical lab, which is an ISO 17025 accredited laboratory. The samples were digested using lithium metaborate/tetraborate fusion and assayed by inductively coupled plasma optical emission spectroscopy and inductively coupled plasma mass spectrometry for whole rock major oxides and trace elements (that is, 4Litho-Pegmatite Special package). Lithium oxide percentage was digested using sodium peroxide fusion and assayed using ICP-OES. Actlabs inserted standards, blanks, pulp duplicates and prep duplicates into the sample stream.

Qualified person

Dr. Selway, PhD, PGeo, supervised the preparation of the scientific and technical information that formed the basis for the written disclosure in this news release. Dr. Selway is the vice-president of exploration for Tearlach Resources and the qualified person (QP) as defined by National Instrument 43-101.

About Tearlach Resources Ltd.

Tearlach, a member of the TSX Venture 50, is a Canadian exploration company engaged in acquiring, exploring and developing lithium projects. Tearlach is focused on advancing its flagship Gabriel project in Tonopah, Nev., bordering American Lithium's TLC deposit, and has completed 11 drill holes on the Gabriel property. Tearlach has three lithium assets in Ontario: Final Frontier, Georgina Stairs and New Frontier. Final Frontier is located adjacent to and near Frontier Lithium's PAK lithium deposit north of Red Lake. Georgina Stairs is located northeast of Rock Tech Lithium's Georgia Lake deposit near Beardmore. Tearlach has two lithium assets in Quebec: the Rose-Fliszar-Muscovite project in the James Bay area and the Shelby project adjacent to and near Patriot Battery Metals' Corvette lithium project and Winsome Resources' Cancet and Adina lithium projects. Tearlach also has the Savant property, an exploration-stage gold-silver-copper property, in Northwestern Ontario. Tearlach's primary objective is to position itself as North America's leading lithium exploration and development company.

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