Mr. Scott Eldridge reports

UNITED LITHIUM INCREASES OWNERSHIP OF KIETYONMAKI LITHIUM PROJECT IN FINLAND TO 100%

United Lithium Corp. has increased its ownership in the Kietyonmaki lithium project to 100 per cent after acquiring Tammela Minerals Oy's 16.4-per-cent minority interest in Litiumloydos Oy, the Finnish entity that holds the rights to the project. Tammela is a wholly owned subsidiary of Nortec Minerals Corp.

As consideration for the acquisition, the company paid Nortec $200,000 in cash, in exchange for 490 common shares of Litiumloydos from Tammela, representing the 16.4-per-cent minority interest. As a condition of closing, all involved parties entered into a deed of variation for the purposes of removing Litiumloydos and United Lithium as parties to a joint venture agreement, extinguishing Tammela's right to any royalties on any future production at the project.

United Lithium acquired its interest in Litiumloydos in early 2022 (see news release dated Feb. 14, 2022) via a transaction with a consortium to purchase 83.6 per cent of the issued and outstanding common shares of Litiumloydos, which holds a 100-per-cent interest in the licences that comprise Kietyonmaki. Following the completion of this initial transaction, the company expanded the project by 535 hectares (see news release Sept. 14, 2022), bringing the total land package to 900 hectares. In 2023, United Lithium acquired the new claim reservation over a new parcel located 6.1 kilometres to the southeast of Kietyonmaki, referred to as Salkola, covering 20,170 ha, bringing the total size of the Finland portfolio to 21,070 ha (see news release dated Oct. 12, 2023).

About the Kietyonmaki lithium project

Kietyonmaki is located in the Tammela mining region in southern Finland. The region is well situated as it is close to rail, road and other infrastructure. The Tammela area is one of the best-known lithium-bearing pegmatite regions in Finland. Tammela is in the Hame volcanic belt that comprises volcanic rocks intercalated with minor greywackes and metamorphosed clay-rich sediments units which have been intruded by plutonic rocks and late-tectonic K-granites with associated pegmatite dikes.

Kietyonmaki was discovered by the Finnish Geological Survey in the mid-1980s. GTK drilled 17 shallow diamond drill holes testing to 70 metres below surface across three traverses, including one traverse of very shallow holes to locate bedrock. In 2016, six holes were drilled by Sunstone Metals Ltd. which intersected lithium mineralization hosted within a spodumene-bearing pegmatite dike swarm. Since acquiring the project, the company has completed 1,450 m of drilling in 13 holes, primarily testing the lithium-bearing Main dike.

Drilling highlights to date are:

• 1.53 per cent Li2O over 23.00 m (hole R307) drilled by GTK;

• 1.31 per cent Li2O over 24.25 m (hole R310) drill by GTK;

• 1.44 per cent Li2O over 24.17 m from 17.88 m downhole (KMDD001) drilled by previous operator;

• 1.52 per cent Li2O over 25.95 m from 33.70 m depth downhole (ULDH-3); and

• 1.45 per cent Li2O over 29.50 m from 69.1 m depth downhole (ULDH-4).

The Main dike has now been drill defined to be up to 25 m wide and more than 200 m length and confirmed to extend to at least 160 m 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 m) 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 lithium oxide in its mineral resource estimate, as disclosed in its October, 2022, definitive feasibility study. Keliber is currently under construction with a targeted 15,000 tonnes per annum battery grade lithium hydroxide production capacity.

Qualified person

The scientific and technical information in this news release was reviewed, verified and approved by Isabelle Lepine, MSc, PGeo. Ms. Lepine 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. Lepine is the director of mineral resources of the company and 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.