Mr. Eric Allard reports

TANTALEX LITHIUM ANNOUNCES PRIVATE PLACEMENT OF UP TO USD$3.0M AND CORPORATE UPDATES

Tantalex Lithium Resources Corp. has arranged a non-brokered private placement consisting of approximately 118,586,450 common shares at a price of 3.5 Canadian cents per common share for gross proceeds of up to $3-million (U.S.).

The number of common shares to be issued is subject to change depending on the foreign exchange rate of the U.S. currency to Canadian currency to be determined on the closing date. There will be no finders' fees paid on the private placement.

Certain insiders of the corporation, including Simon Collins, director, and Afrimet Resources Ag, may acquire common shares in the private placement. Any participation by insiders in the private placement would constitute a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. However, the corporation expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the common shares subscribed for by the insiders, nor the consideration for the common shares paid by such insiders, would exceed 25 per cent of the corporation's market capitalization.

The proceeds of the private placement will be used for project expenditures related to the optimization of the Titan tin and tantalum plant and for general working capital. All securities issued pursuant to the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law.

Corporate update -- revocation of FFCTO (failure-to-file cease trade order)

The corporation is also pleased to announce today that the FFCTO issued by the Ontario Securities Commission on July 8, 2024, was revoked effective Aug. 1, 2024, and its common shares resumed trading on Aug. 2, 2024. The FFCTO was issued following the corporation's delay in filing its audited consolidated annual financial statements, management's discussion and analysis, and related chief executive officer and chief financial officer certifications for the year ended Feb. 29, 2024, prior to the applicable deadline, which have since been filed.

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-tech 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.