Mr. Mark Ireton reports

VICTORY ANNOUNCES PRIVATE PLACEMENTS OF UP TO $400,000

Victory Battery Metals Corp. has arranged a private placement financing of up to eight million units of the company at a price of five cents per unit for aggregate gross proceeds of up to $400,000.

Each unit will comprise 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 6.5 cents per common share for a period of three 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 10 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 less 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 (NI 45-106), 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. 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 accessed under the company's profile on SEDAR+ and on the company's website.

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

The closing date of the offering is to occur on or about Feb. 28, 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 Metals 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.