Mr. Scott Eldridge reports

UNITED LITHIUM ANNOUNCES $2 MILLION PRIVATE PLACEMENT AND REPRICING OF WARRANTS

United Lithium Corp. intends to complete a fully subscribed non-brokered private placement consisting of up to 6,666,667 units of the company at a price of 30 cents per unit for gross proceeds of up to $2-million.

Each unit comprises one common share and one share purchase warrant entitling the holder to acquire one additional share at a price of 40 cents for a period of 36 months.

The company intends to use the net proceeds raised from the offering for exploration of the company's properties and for general working capital purposes. All securities issued in the offering will be subject to a statutory four-month hold period. Closing of the offering is subject to receipt of all required regulatory approvals, including approval from the Canadian Securities Exchange. The offering is expected to close on or about April 2, 2024.

Repricing of warrants

The company also announces that it will amend the exercise price of a total of 16,666,667 previously issued share purchase warrants. The repriced warrants were originally issued on March 6, 2023, as part of the company's previously completed non-brokered financing and are currently exercisable at a price of 75 cents per share (as adjusted from 25 cents per share after giving effect to the company's consolidation completed on Dec. 27, 2023). Subject to the consent of the holders of the repriced warrants, the company will reduce the exercise price of the repriced warrants to 50 cents per share. In accordance with the policies of the CSE, the expiration of the repriced warrants will be accelerated to 30 days if, for any 10 consecutive trading days, the closing price of the common shares of the company on the CSE is 62.5 cents or greater, with such 30-day period starting seven days after the acceleration trigger. All other terms of the warrants will remain unchanged.

About United Lithium Corp.

United Lithium (CSE: ULTH) 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.