Mr. Alex Wylie reports

VOLT LITHIUM CORP. ANNOUNCES STRATEGIC COLLABORATIONS WITH NANOTECHNOLOGY LABS TO ACCELERATE NORTH AMERICAN LITHIUM PRODUCTION & ENVIRONMENTALLY CONSCIOUS WATER MANAGEMENT

Volt Lithium Corp. has secured strategic technology collaborations with two research labs located at the University of Alberta (U of A) campus in Edmonton, Alta. The collaborations involve the Advanced Water Research Lab (AWRL) that is supervised by Dr. Mohtada Sadrzadeh, PhD, PEng, and the lab of Dr. Hongbo Zeng, PhD, PEng, of the U of A chemical and materials engineering department (the Zeng lab).

"We are proud to collaborate with AWRL and the Zeng lab to help address the urgent problem of responsible water management for the energy business today, while expanding our access to oilfield brines that offer an economic source of lithium for the clean energy transition of tomorrow," commented Alex Wylie, president and chief executive officer of Volt.

The collaborations are designed to leverage nanotechnology and water processing expertise to remove contaminants from oilfield brine to be used for the company's proprietary direct lithium extraction (DLE) technology. Volt views the collaborations as another component of its advancing efforts to achieve commercial and economic extraction of lithium from produced water. By establishing mutually beneficial relationships with oil and gas companies, Volt gains access to oilfield brines for lithium extraction purposes, while the oil and gas producers can benefit from an economic and ESG (environmental, social and governance)-friendly solution to derive value from their produced oilfield water. Volt aims to provide innovative and novel approaches to responsible lithium development in North America using Canadian-based research and development.

Nanotechnology for ultrafiltration of oilfield brines

The AWRL conducts research and development of high-performance materials, processes, and methods of water recycling and reuse with the view to achieving sustainable management of freshwater resources during industrial practices. Dr. Sadrzadeh contributes within the U of A department of mechanical engineering for research and development, in collaboration with academic, government and industry partners, that is targeted to support efficient and innovative next-generation water treatment products and processes. Given AWRL's expertise in nanofiltration systems, Volt is aiming to secure an effective process for the removal of contaminants from source brine to optimize water usage and minimize process chemical usage, thereby reducing costs and enabling any brine to be used as a source for its DLE technology.

Fluid processing to concentrate lithium chloride

Volt's collaboration with AWRL also includes work on the development of a fluid processing technology to streamline the concentration of lithium chloride (LiCl) to lithium hydroxide monohydrate (LHM), which is the product predominantly used by various industries today for a broad range of lithium compounds, and is a key component of high-capacity lithium-ion batteries. A number of commercial technologies are deployed today to concentrate lithium within lithium chloride to generate LHM, including reverse osmosis. Volt's research and development with AWRL is designed to develop a technology that is specifically tailored to concentrating lithium extracted from oilfield brines. If successfully developed, this technology should allow the company to produce a highly concentrated product (also called eluate), while simultaneously improving the economics for its refining process to create LHM.

Using nanotechnology to streamline Volt's DLE process

The Zeng lab sits at the intersection of chemistry, physics and nanotechnology, and is focused on complex fluids, petroleum, oil sands and mineral processing, along with the development and synthesis of nanomechanical tools and compounds that impact the interaction between solids, water, oil and gas. Drawing on the Zeng lab's expertise in nanotechnology compounds, and its access to the Nanotechnology Research Centre at the U of A, this collaboration is focused on continuous efforts to enhance Volt's lithium extraction process to reduce operating costs associated with Volt's DLE technology. Enhancement examples include operating cost improvements associated with reduced reagent use, customizing brine conditions using filtration to increase LiCl concentrations for Volt's eluate, and leveraging the collaboration with AWRL to streamline the extraction process. Any advancements achieved to Volt's technology are expected to be incremental to the successes of its pilot operations to date and ultimately lead to improved operating efficiencies as the company drives toward commercial operations.

Establishment of a permanent pilot

Volt is in the process of establishing a permanent pilot that will enable the company to test its technologies in real time, including those being advanced through the collaborations. Once established, Volt believes that the permanent pilot will support the accelerated advancement to first-stage commercial operations.

About Volt Lithium Corp.

Volt Lithium is a technology and ESG-focused company aiming to be North America's first commercial producer of LHM and lithium carbonates from oilfield brine. Its strategy is to become a leading solutions provider for oil and gas exploration and production companies facing increasing pressure to responsibly and cost-effectively manage the water required and produced in their operations. Volt intends to generate value for shareholders by leveraging management's hydrocarbon experience and existing infrastructure to extract lithium from existing hydrocarbon wells, negating the need to drill new wells, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. With the company's proprietary DLE technology, Volt's approach to development is targeting the highest lithium recoveries with the lowest costs, positioning the company well for future commercialization. Volt Lithium is committed to operating efficiently and with transparency across all areas of the business, staying focused on creating long-term, sustainable shareholder value.

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