Mr. Alex Wylie reports

VOLT LITHIUM ANNOUNCES UPSIZED $5.4 MILLION MARKETED PUBLIC OFFERING OF UNITS

Volt Lithium Corp. has entered into an amendment to its engagement letter with Canaccord Genuity Corp., pursuant to which Canaccord Genuity has agreed to upsize the previously announced public offering of the company. The upsized offering, on a best effort marketed basis, will be for up to 17.5 million units of the company at a price of 31 cents per unit for aggregate gross proceeds to the company of up to $5.4-million.

Aside from the increased number of units, all terms of the offering and the previously announced private placement of units for gross proceeds of up to $1.1-million remain the same. As previously announced, the company will pay to the agent a cash commission equal to 6 per cent of the gross proceeds from the offering, issue the number of broker warrants equal to 6 per cent of the number of units sold pursuant to the offering, pay to the agent a cash commission equal to 3 per cent of the gross proceeds of the concurrent private placement and issue the number of broker warrants equal to 3 per cent of the gross proceeds of the concurrent private placement for up to $1.1-million of units sold thereunder. Each broker warrant shall be exercisable for one unit at the offering price for a period of 24 months following the completion of the offering.

Closing of the offering is expected to take place on or about Nov. 19, 2024, or on such other date as may be mutually agreed upon by the company and the agent, acting reasonably.

The offering

The units sold under the offering are offered by way of: (i) a prospectus supplement to Volt Lithium's short form base shelf prospectus dated July 20, 2023, which prospectus supplement will be filed with the securities commissions and other similar regulatory authorities in each of the provinces of Canada, other than Quebec; (ii) in the United States to or for the account or benefit of U.S. persons as defined by Regulation S under the U.S. Securities Act of 1933, as amended, by way of private placement pursuant to exemptions from registration provided for under the U.S. Securities Act and the applicable securities laws of any state of the United States; and (iii) in jurisdictions outside of Canada and the United States as are agreed to by the company and Canaccord Genuity.

Prospective investors under the offering should read the shelf, the prospectus supplement, once filed, and the documents incorporated by reference therein before making an investment decision. Copies of the shelf and the prospectus supplement, following filing thereof, are, or will be, as applicable, available on the company's SEDAR+ profile.

3L Capital Inc., the company's investor relations and capital market advisory service provider, is providing advisory services to the company in connection with the offering. 3L is a Toronto-based financial and service company that provides advisory services to metal and mining, oil and gas, renewable energy, and technology companies.

About Volt Lithium Corp.

Volt Lithium 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. Its 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 technology and process, Volt Lithium's innovative approach to development is focused on allowing the highest lithium recoveries with lowest costs, positioning it for future commercialization. It is committed to operating efficiently and with transparency across all areas of the business, staying sharply focused on creating long-term, sustainable shareholder value.

We seek Safe Harbor.