Mr. Mark Ireton reports

VICTORY ANNOUNCES PRIVATE PLACEMENT OF UP TO AN AGGREGATE OF $300,000

Victory Battery Metals Corp. has arranged a private placement financing of up to six million units of the company at a price of five cents per unit for aggregate gross proceeds of up to $300,000.

Each unit will be composed of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of seven cents per common share for a period of two years following the closing date of the offering, subject to accelerated expiry as described herein. If, at any time, the closing price of the company's common shares is greater than 20 cents per common share for 10 consecutive days, including days where there is no trading, the company may provide written notice to the holders that the expiry of the warrants shall be accelerated to a date that is not fewer than 30 days from the date of the warrant acceleration notice.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the units will be offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the listed issuer financing exemption). Because the offering is being completed pursuant to the listed issuer financing exemption, the securities issued in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be viewed under the company's profile at SEDAR and on the company's website. Prospective investors should read the offering document before making an investment decision.

The company intends to use net proceeds of the offering for working capital requirements and other general corporate purposes.

In connection with the offering and as disclosed in the offering document, the company may pay finders' fees in cash, securities or a combination of both, as permitted by Canadian Securities Exchange policy and applicable securities laws.

The closing date of the offering is expected to occur on or about May 25, 2023, or such later date or dates as the company may determine, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including approval from the Canadian Securities Exchange.

About Victory Battery Metals Corp.

Victory Battery (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.

We seek Safe Harbor.