Mr. Scott Eldridge reports

UNITED LITHIUM INTERSECTS 1.45% LI2O OVER 29.5 M AND 1.52% LI2O OVER 26 M AT KIETYONMAKI PROJECT, FINLAND

United Lithium Corp. has released the results of drilling from the Kietyonmaki project in Finland. The company completed approximately 1,450 metres of diamond drilling targeting the lithium-mineralized Main dike. Drill confirmed to be more than 200 metres long, up to 25 metres wide and extending to a depth of at least 160 metres, the expansion of the Main dike remains open along strike to the southeast and at depth. The geology of the host rocks and pegmatite composition at Kietyonmaki are similar to that observed in the Kaustinen region of Finland, which hosts the Keliber lithium project, owned 85 per cent by Sibanye-Stillwater Corp. The Keliber project hosts 17 million tonnes at 1.02 per cent Li2O, according to its mineral resource estimate in its October, 2022, definitive feasibility study.

Highlights:

• High-grade lithium oxide (Li2O) results include:
  • 1.52 per cent Li2O over 25.95 metres from 33.70-metre depth downhole in hole ULDH-3;
  • 1.45 per cent Li2O over 29.50 metres from 69.10-metre depth downhole in hole ULDH-4.
• This new drilling builds upon positive historical drill results from previous operators, including:
  • 1.53 per cent Li2O over 23 metres drilled by the Finnish Geological Survey (GTK);
  • 1.10 per cent Li2O over 42 metres by previous operator Sunstone Metals Ltd.
• Drilling confirmed the extent of the Main dike to be greater than 200 metres in length and extending to at least 160 metres depth, while remaining open along strike to the southeast and open at depth.
• Percussion drilling indicates that lithium-mineralized pegmatite is present as far as 230 metres southeast of the Main dike outcrop.
• Boulder sampling recovered lithium-bearing pegmatite samples ranging from 0.88 per cent Li2O to 2.44 per cent Li2O. Pegmatite intercepts from percussion drilling and these boulder samples are expected to be followed up in early 2024 exploration work to generate drill targets.
• The company recently increased its land package at Kietyonmaki to approximately 21,000 hectares.

Scott Eldridge, United's president and chief executive officer, stated: "We are pleased to release United's maiden drill results in Finland. Previous operators had delivered encouraging results and we have now extended the known mineralized boundaries of the Main dike, which remains open. The project has tremendous upside potential exhibited by high-grade-lithium-bearing boulders that are not yet explained. Of note, the Keliber lithium project was first discovered by identifying such boulders. The Kietyonmaki project now has a district-scale footprint with the recent addition of 20,000 hectares."

Drill program details

The 2022/2023 drilling program at Kietyonmaki comprised 13 diamond drill holes for a total of 1,449.40 metres and the collection of 100 percussion drill hole samples completed between September, 2022, and February, 2023. The diamond drilling aimed to complete both infill and expansion drilling on the Main dike whereas the percussion drilling targeted discovery outside the Main dike. The drill program was successful in expanding the drill-confirmed length of the Main dike from 60 metres to approximately 205 metres and in confirming the depth of the body to at least 160-metre depth below surface. Percussion drilling results highlight possible new pegmatites that warrant follow-up drilling in 2024, with two occurrences located 100 metres and 230 metres southeast of the Main dike. The Main dike is spodumene and petalite bearing, with some notable tin and tantalum mineralization, with SnO2 (tin oxide) values up to 4,228 parts per million and Ta2O5 (tantalum pentoxide) up to 691 parts per million. Refer to the attached table for diamond drilling results. Lithium mineralization commonly continues beyond the margin of pegmatite intercepts into wallrock with values up to 0.59 per cent Li2O in host mica schists and metavolcanics.

Prospecting and further work plans

United contractors conducted field prospecting and sampling contemporaneously with and after drilling across the main Kietyonmaki tenure. A total of 44 surface samples were collected, and, of these, 18 were outcrop pegmatite samples and 26 were boulder pegmatite samples. Three high-grade boulders samples returned values of 0.88 per cent Li2O, 1.37 per cent Li2O and 2.24 per cent Li2O. Also, some notable tantalum and tin values were identified and all occurrences. These, combined with some historically identified pegmatites, warrant follow-up in a potential spring 2024 exploration program. A potential 2024 program may involve geophysical surveying, further prospecting, and a soil and till geochemical and indicator mineral sampling program. More details will be shared once program design is finalized.

Geology

The Kietyonmaki project is situated within the Hame belt, which comprises mainly amphibolites and mica schists intercalated with greywackes and metapelites of the Forssa volcanic suite (1.9 billion to 1.7 billion years old). The succession has been intruded by gabbros, diorites, granodiorites, tonalites and later by potassium granites as well as pegmatites. Rocks in the region have been metamorphosed to lower amphibolite/facies conditions. The Kietyonmaki dike swarm is composed of several near-vertical-dipping spodumene (as spodumene-quartz intergrowths) and petalite-bearing pegmatite dikes, the largest being the Main dike. The Main dike has now been drill defined to be up to 25 metres wide and more than 200-metre length and confirmed to extend to at least 160-metre depth below surface. This dike is hosted in an assemblage comprising mica schists, metavolcanics and amphibolite gneiss with rare feldspar porphyry intrusives. Mica schists are altered to chlorite and biotite and commonly contain altered (to chlorite) andalusite and more rarely garnet. There is variable till cover (up to three metres) and boulder occurrences are present across the project.

Kietyonmaki has similarities geologically to the Kaustinen region of Finland, which hosts the Keliber lithium project, owned 85 per cent by Sibanye-Stillwater Corp. Keliber hosts an estimated 17 million tonnes at 1.02 per cent Li2O in its mineral resource estimate, as disclosed in its October, 2022, definitive feasibility study. Keliber is currently under construction with a targeted 15,000-tonne-per-annum battery-grade LiOH (lithium hydroxide) production capacity.

Work history

The project was acquired in early 2022 (see news release dated Feb. 14, 2022) through a transaction with a consortium to purchase 83.6 per cent of the issued and outstanding share capital of private entity Litiumloydos Oy, which holds a 100-per-cent interest in the licences that comprise the project. Following the completion of this transaction, the company expanded the project by 535 hectares (see news release dated Sept. 14, 2022), increasing the total land package to 900 hectares. In 2023, United acquired a claim reservation over a new parcel located 6.1 kilometres to the southeast of Kietyonmaki, referred to as Salkola, covering 20,170 hectares, bringing the total size of the project to 21,070 hectares.

The lithium-bearing pegmatites at Kietyonmaki were discovered in the mid-1980s by the GTK. Its work identified the pegmatite dike swarm and provided an initial test of the largest body (the Main dike) through 17 diamond drill holes (734 metres), channel samples along nine profile lines and a ground magnetic survey. Diamond drilling was completed along three sections and was shallow, at no deeper than 70-metre depth below surface. GTK drill defined the Main dike to approximately 20-metre width and approximately 50-metre length, extending this to 120-metre length with the addition of its channel sampling results. Some notable drilling results include 1.31 per cent Li2O over 24.25 metres from 58.75-metre depth downhole (hole R310); 1.66 per cent Li2O over 13 metres from 86.00-metre depth downhole (hole R316); and 1.53 per cent Li2O over 23 metres from 14.10-metre depth downhole (hole R307). In 2016, previous operator Sunstone Metals completed six diamond drill holes (1,172 metres total), which further tested the Main dike along the same section lines that GTK had drilled (infill drilling). The most significant intersection was 1.10 per cent Li2O over 42 metres from 17.88-metre depth downhole (hole KMDD001).

Quality assurance and quality control

Core drilling was completed using a GM200 rig (drilling NQ-diameter core) by Mitta Oy of Oulu, Finland. Diamond drilling samples were logged and photographed and samples were selected for analyses were cut in half before being labelled and securely shipped to ALS Scandinavia AB in Pitea, Sweden, for preparation. Once prepared, samples were securely shipped by ALS to its laboratory in Loughrea, Ireland, for analysis. Samples were analyzed by the ME-MS81 method (lithium borate fusion followed by ICP-MS) and ME-4ACD81 (base metals by four-acid digestion). Twenty-eight of the samples were reassayed by method ME-MS89L (supertrace sodium peroxide fusion followed by ICP-MS) to ensure high values of lithium were captured as ME-MS81 has an upper limit of 10,000 parts per million for lithium. Standards and blanks were inserted into the sample stream at regular intervals (10 blanks and 13 standards out of 169 total assays). After preparation, 17 duplicate samples were sent by ALS to CRS Laboratories in Kempele, Finland, for QA/QC checking. Percussion drilling was completed using a GM1000 rig (also by Mitta). Samples were described and those that intersected pegmatite were sent for preparation to ALS in Pitea. Once prepared, pulps were securely shipped by ALS to its laboratory in Loughrea, Ireland, for analysis by the ME-MS89L method. Surface rock samples were described in detail after collection, site locations were recorded and samples were sent to ALS Scandinavia AB in Pitea, Sweden, with final pulps produced at ALS in Rosia Montana, Romania. Once prepared, pulps were securely shipped by ALS to its laboratory in Loughrea, Ireland, for analysis by method ME-MS89L.

Qualified person

The scientific and technical data contained in this news release were reviewed and approved by Cathy Fitzgerald, MSc, PGeo, United's executive vice-president, exploration, and a director. Ms. Fitzgerald is a registered professional geologist in British Columbia and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Minerals Projects. Ms. Fitzgerald is not independent of the company.

About United Lithium Corp.

United Lithium is an exploration and development company energized by the global demand for lithium. The company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.

We seek Safe Harbor.