Mr. Alex Wylie reports

VOLT PROVIDES OPERATIONAL UPDATE AS IT SCALES-UP U.S. LITHIUM FIELD OPERATIONS IN TEXAS, PAVING WAY FOR SIGNIFICANT GROWTH IN 2025

Volt Lithium Corp. has provided an operational update on the path to commercializing its proprietary and proven next-generation direct lithium extraction technology for processing oil field brines. The company is in the late stages of integrating its generation 5 field unit into its partner's facility in Texas and remains on track for the new field unit to be operational by the end of January, 2025.

"Our team, in close collaboration with our partner, has made substantial progress on the generation 5 field unit," commented Alex Wylie, president and chief executive officer of Volt Lithium. "We look forward to initiating production, stockpiling commercial-grade lithium and building further momentum as we scale our U.S. operations."

Permian basin field operations update: generation 5 field unit

Volt Lithium's U.S. field unit is modular, designed for flexible deployment and scalability. Building upon the success of its generation 4 field unit -- which achieved throughput of 2,500 barrels per day -- the generation 5 field unit represents a critical milestone as the company transitions to initial commercial operations. Key highlights include:

• Modular capacity: designed to process 10,000 barrels of oil field brine per day, providing an initial commercial platform for lithium production;
• All equipment on site: long-lead items (including Volt Lithium's proprietary lithium extraction compound) and key DLE processing modules have arrived and are installed;
• Late-stage integration: Volt Lithium and its partner are completing final connections to the partner's facility, with system testing to follow;
• Storage facilities: all lithium storage tanks are on site and fully operational, allowing Volt Lithium to stockpile produced lithium for future sale.

With these preparations nearly finalized, the company anticipates the field unit to be operational by late January, 2025, enabling Volt Lithium to begin generating product inventory and enhancing its commercial profile in early February.

Personnel update

The company is pleased to announce the addition of Bill McClain for investor relations. Mr. McClain brings over a decade of venture market experience and a strong record in investor communications spanning resource and technology ventures. A long-standing supporter and early investor in Volt Lithium, his expertise will be instrumental as the company enters a period of growth in 2025.

Separately, Volt Lithium has issued 250,000 options to certain staff and new hires under its omnibus equity incentive plan. The options vest over a six-month period and are exercisable at 30 cents per share for four years from the date of grant, expiring on Jan. 16, 2029.

The company also announces the departure of Dave Kimery and Greg Foofat from the Volt Lithium team. The company appreciates their efforts and wishes them both success in their future endeavours.

Other disclosure

The company wishes to issue a correction to its news release dated Nov. 28, 2024, regarding the closing of the second tranche of its previously announced non-brokered private placement. While the number of units issued in connection with the second tranche of the offering was correctly stated as 430,645 for gross proceeds of approximately $134,000, the aggregate number of units issued under both tranches of the offering was incorrectly disclosed as 1,559,254 for aggregate gross proceeds of $483,000. The correct number of units issued under all tranches of the offering was 1,559,354 units for $483,399.74 in gross proceeds. All other details relating to the offering remain accurate as previously disclosed.

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 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 well 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.