Mr. Richard Creitzman reports

TANTALEX LITHIUM PROVIDES UPDATE ON PRIVATE PLACEMENT AND ANNOUNCES PROPOSED SHARES FOR DEBT SETTLEMENT

Tantalex Lithium Resources Corp. has provided an update to its previously announced non-brokered private placement offering of common shares for gross proceeds of up to $1.5-million (U.S.), initially announced via a news release dated March 21, 2025. The corporation intends to include a share-for-debt component within the offering, settling certain outstanding debts through the issuance of securities.

As previously announced, the corporation intends to complete a non-brokered private placement financing of approximately up to 86 million common shares at a price of 2.5 Canadian cents per common share. The final number of common shares to be issued in the offering 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.

Certain insiders of the corporation may acquire common shares in the offering. 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 offering will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law.

Conversion of debt into common shares

In addition to the private placement, the corporation intends to settle aggregate outstanding bona fide debts totalling $490,000 (U.S.) from cash advances from insiders of the corporation by way of the issuance of common shares of the corporation at a deemed price of 2.5 Canadian cents per common share. The cash advances are unsecured and do not bear any interest. The total number of common shares to be issued in the debt settlement 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.

The board of directors has determined it is in the best interests of the corporation to settle the outstanding debt by the issuance of common shares and warrants in order to preserve the corporation's cash for general working capital purposes.

The closing of the debt settlement transactions is subject to customary closing conditions and the corporation intends to close as soon as practicable. Upon closing, the corporation will make all necessary filings, including the filing of early warning reports, as necessary. The common shares and common shares underlying the warrants to be issued pursuant to debt settlement transactions will be subject to a hold period of four months and one day from the date of issuance.

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.

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