Mr. Mark Ireton reports

VICTORY ANNOUNCES SHARE CONSOLIDATION

Victory Battery Metals Corp. intends to proceed with a consolidation of its common shares on the basis of one postconsolidation share for five preconsolidation shares. The board of directors approved the consolidation on Oct. 23, 2023.

The company currently has 78,695,176 shares issued and outstanding. Accordingly, once the consolidation is effective, the company will have 15,739,035 shares issued and outstanding, assuming there are no other changes in the issued capital of the company.

The company intends to also proceed with consolidating its outstanding options and warrants on a ratio of one to five, with the result that each consolidated option and warrant will entitle the holder to acquire one share at an exercise price of five times its original exercise price.

The consolidation is being proposed in order to provide the company with increased flexibility to seek additional financing opportunities and is subject to the approval of the Canadian Securities Exchange. The company will not change its name as part of the consolidation.

About Victory Battery Metals Corp.

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

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