Mr. Alex Wylie reports

VOLT LITHIUM AND WELLSPRING HYDRO ENTER INTO A FIELD STUDY AGREEMENT BACKED BY A GRANT FROM THE STATE OF NORTH DAKOTA TO EXTRACT LITHIUM FROM BAKKEN OILFIELD

Volt Lithium Corp. has entered into a field study agreement with Wellspring Hydro to deploy and test Volt's proprietary direct lithium extraction technology (DLE) field unit in the State of North Dakota and to establish the viability of DLE from lithium-infused oil field brine produced from the Bakken formation.

"We are excited to be collaborating with Wellspring and the State of North Dakota to trial Volt's DLE field unit in the Bakken formation in North Dakota," commented Alex Wylie, president and chief executive officer of Volt. "In addition to our existing field operations in the Permian basin in Texas with our strategic partner, we are proud to be able to demonstrate the capabilities of a second field unit in another significant oil-producing region of the United States."

"The Bakken formation generates approximately 2.0 million barrels of lithium-infused oil field brine daily, representing the second-largest producer of brine in the U.S.," added Mark Watson, chief executive officer of Wellspring. "Wellspring and the State of North Dakota have been working with the Volt team for the past several months and are excited to deploy a field unit in the Bakken formation in early 2025."

The North Dakota Bakken collaboration adds to Volt's existing asset portfolio of plays in Texas (Permian basin) and Alberta (Keg River formation), both of which are with separate strategic partners from Wellspring.

North Dakota field study

The State of North Dakota, through WSH, has contributed $450,000 (U.S.) cash to Volt for the purpose of procuring equipment and conducting testing to establish the viability of Volt's direct lithium extraction technology for field operations in North Dakota. Volt expects to receive an additional $50,000 (U.S.) through a final report of the deployment of proceeds of the grant. Volt, through WSH, will apply for up to an additional $2-million (U.S.) in funding for the field study in early 2025.

Volt and Wellspring have been awarded grant funding from the State of North Dakota acting by and through its industrial commission research and renewable energy program. The purpose of this funding is to encourage the use of renewable energy, benefit businesses that operate in the state of North Dakota and utilize the North Dakota work force.

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 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 generating the highest lithium recoveries with lowest costs, positioning the company for future commercialization. Volt 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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