Mr. Alex Wylie reports

VOLT LITHIUM AND WELLSPRING HYDRO ENTER INTO FIELD DEVELOPMENT AGREEMENT BACKED BY FOLLOW-ON GRANT FROM STATE OF NORTH DAKOTA

Volt Lithium Corp. has received $2-million (U.S.) in additional grant funding from the State of North Dakota, bolstering its efforts to advance Volt's direct lithium extraction technology for domestic commercial deployment. This follow-on support comes through Volt's partnership with Wellspring Hydro and is consistent with the state's commitment to accelerating critical mineral development within the United States.

"We are deeply grateful to the State of North Dakota for this continued support, which not only reflects confidence in our DLE technology but also underscores our shared goal of strengthening the domestic supply chain for critical minerals," said Alex Wylie, president and chief executive officer of Volt. "By leveraging existing oil field infrastructure and a rapid path to commercialization, we are contributing to American innovation and working to ensure the U.S. has secure, redundant sources of lithium right here at home."

Driving toward commercial-scale production:

• Grant-funded expansion: Building upon a successful field study agreement announced in December, 2024, Volt and Wellspring will deploy the new grant proceeds to scale and further refine Volt's proprietary DLE technology in the Bakken formation of North Dakota.
• Short timeline to production: Volt's approach uses established energy-sector infrastructure, reducing capital requirements and fast-tracking operational readiness, thereby supporting the near-term development of domestic lithium production.
• Permian basin core focus: The Permian basin remains the foundation for Volt's continuing scale-up, providing vital operational insights and proven expertise. As Volt continues to refine and advance its DLE technology in Texas, these successes will be seamlessly transferred to other basins -- beginning with North Dakota -- ensuring efficient deployment and continuous innovation across regions.

Strengthening the U.S. critical mineral supply chain

This follow-on grant strengthens Volt's position at the forefront of domestic lithium extraction initiatives, aligning with broader national objectives to support onshore critical mineral production. Through leveraging existing oil and gas infrastructure, Volt aims to streamline the transition from hydrocarbon operations to sustainable lithium extraction -- reinforcing the U.S. supply chain and promoting energy independence.

North Dakota field development agreement

The State of North Dakota, through Wellspring, has contributed $2-million (U.S.) in 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 and Wellspring have been awarded grant funding from the North Dakota Industrial Commission through the clean sustainable energy authority program 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. 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's innovative approach to development is focused on generating 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.

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