Mr. Eric Allard reports

TANTALEX LITHIUM ANNOUNCES FIRST TIN AND TANTALUM CONCENTRATE PRODUCTION READY FOR EXPORT

Tantalex Lithium Resources Corp.'s Titan tin and tantalum alluvial plant has now produced its first batch of tin and tantalum concentrates ready for export.

A first batch of 10 tonnes of exportable and high-grade industrial and fully traceable tin concentrates (SnO2; tin oxide) has now been fully processed in Manono. Additionally, 2.5 tonnes of tantalum concentrates (Ta2O5; tantalum pentoxide) have also been produced.

Hadley Natus, chairman, commented: "We are very proud to have reached this very important milestone. The team has worked relentlessly to make this happen. With our current optimization program under way, I am extremely confident that we will reach our production targets in the very near term."

Production from Titan is fully traceable and very much sought after due to its strict compliance with the RMI (Rocky Mountain Institute) principles for responsible sourcing of critical materials.

All production from Titan is sold through an offtake agreement with AfriMet Resources Ag, as announced in the company's news release dated Jan. 24, 2023.

Continuous optimization measures are continuing at site to reach optimal production capacity. The plant is currently running approximately 50 tonnes per hour for an average of eight hours per day. The objective within the next three months is to run the plant at 130 tonnes per hour for 16 hours per day. Measures currently under way to reach this goal are the shipping of a new scrubber trommel and an increase in the water supply to the plant.

AfriMet debenture extension

On July 8, 2022, the corporation announced that it closed a private placement of $1,231,784.08 (U.S.) principal amount of an unsecured convertible debenture with AfriMet with an initial maturity date of July 10, 2023, and an interest rate of 10 per cent per annum. The convertible debenture is payable at any time prior to the maturity date in cash or common shares of the corporation, at the option of the Corporation. At any time during the term, AfriMet may elect to convert the outstanding principal net amount, or any portion thereof, into common shares at a conversion price of 10 cents per common share. Subsequently, the maturity date was extended to Jan. 10, 2024. The parties extended a second time the maturity date to Jan. 10, 2025, and the interest rate shall increase to 12.5 per cent starting Jan. 11, 2024, until maturity.

The convertible debenture is a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as AfriMet is a significant shareholder. However, such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value nor the consideration for the loan would exceed 25 per cent of the corporation's market capitalization. The corporation did not file a material change report in respect of the related party transaction at least 21 days prior to the closing of the convertible debenture, which the corporation deems reasonable in the circumstances in order to extend the convertible debenture in an expeditious manner.

About Tantalex Lithium Resources Corp.

Tantalex Lithium is an exploration-and-development-stage mining company engaged in the acquisition, exploration, development and distribution of lithium, tin, tantalum and other high-technology mineral properties in Africa.

It is currently focused on operating its Titan tin and tantalum concentrate plant and developing its lithium assets in the prolific Manono area in the Democratic Republic of the Congo, the Manono lithium tailings project and the pegmatite corridor exploration program.

We seek Safe Harbor.