Mr. Alex Wylie reports

VOLT LITHIUM SUCCESSFULLY PRODUCES BATTERY-GRADE LITHIUM CARBONATE FROM PERMIAN BASIN OILFIELD BRINE

Volt Lithium Corp. has successfully produced battery-grade lithium carbonate from its U.S. field operations in the Permian basin in western Texas, United States.

"Successfully producing battery-grade lithium carbonate from the Permian is another significant milestone that Volt has achieved this year," commented Alex Wylie, president and chief executive officer of Volt Lithium. "Volt Lithium is on track to become one of North America's first commercial producers of lithium from oil field brine, contributing to the security of future sources of critical minerals in North America."

U.S. field operations update -- production of lithium chloride and battery-grade lithium carbonate

Volt has developed an innovative, proprietary DLE (direct lithium extraction) technology with the intent to commercially extract lithium from oil field brines across North America. This aligns with the goal to contribute to secure a critical mineral supply chain for North America. Volt has been operating its proprietary DLE system in the field since Sept. 17, 2024, and continues to optimize its U.S. field unit. Volt's field unit provides the company with the ability to cost-effectively and efficiently scale up further to process commercial levels of oil field brine.

Volt has successfully been producing lithium chloride concentrate, a precursor to lithium carbonate, lithium hydroxide monohydrate and lithium metal from its field unit from oil field brine produced from the Permian basin since Sept. 17, 2024. Volt's proprietary DLE process has successfully built up an inventory of high-quality eluate that is being converted into a 99.5-per-cent-pure battery-grade lithium carbonate.

Samples of lithium carbonate have been created and verified through third party testing for review for potential offtake partners. Volt will continue to produce lithium chloride concentrate as well as technical-grade and battery-grade lithium carbonate in the field for the remainder of 2024.

Volt's proprietary DLE technology comprises a three-stage process to extract lithium from oil field brine. In stage 1, Volt uses proven established processes to treat and purify oil field brine to effectively remove up to 99 per cent of organics and contaminants in the preparation of brine for the DLE process. In stage 2, Volt uses the company's proprietary DLE technology to extract lithium from the brine, which on average yields up to 99-per-cent lithium extraction results to produce eluate (lithium chloride concentrate). In the final stage 3, Volt purifies and concentrates the eluate that is refined in-house to a lithium carbonate capable of meeting industry specifications for battery-grade lithium.

Qualified person statement

Scientific and technical information contained in this press release has been reviewed and approved by Doug Ashton, PEng, and Meghan Klein, PEng, of Sproule Associates Ltd., each of whom is a qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Ashton and Ms. Klein consent to the inclusion of the data in the form and context in which they appear.

About Volt Lithium Corp.

Volt is a lithium development and technology company aiming to be one of North America's first commercial producers of lithium carbonates and lithium hydroxide from oil field brine. The company's strategy is to generate value for shareholders by leveraging management's hydrocarbon experience and existing infrastructure to extract lithium deposits from existing wells, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. With four differentiating pillars, and a proprietary direct lithium extraction (DLE) technology and process, Volt's innovative approach to development is focused on allowing the highest lithium recoveries with lowest costs, positioning the company for future commercialization. The company is committed to operating efficiently and with transparency across all areas of the business, staying sharply focused on creating long-term, sustainable shareholder value.

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