Mr. Mark Brezer reports

BATTERY X METALS ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Battery X Metals Inc. has closed its previously announced non-brokered private placement for aggregate gross proceeds of $493,800. Pursuant to the private placement, the company will issue 4,938,000 units at a price of 10 cents per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant is exercisable into one share at an exercise price of 10 cents until July 29, 2026.

The company intends to use approximately $75,000 of the proceeds raised from the private placement for general working capital purposes, approximately $368,800 for current and anticipated payables, and $50,000 of the proceeds will be paid to Pivotal CM for corporate awareness and marketing services pursuant to an existing agreement, as disclosed in the company's Feb. 22, 2024, news release. The company may also allocate additional proceeds from the private placement for investor relations services and marketing programs. However, at this time, the company has not entered into any other investor relations or marketing agreements other than with Pivotal CM and Atkiencheck.de AG, as disclosed in the Feb. 22, 2024, news release. Upon entering into any such agreements, the company will release the terms in accordance with applicable securities laws and stock exchange policies.

The securities issued under the private placement will be subject to a statutory hold period in accordance with applicable securities laws of four months and one day from the date of issue, expiring Nov. 30, 2024. No finders' fees will be paid in connection with the private placement.

About Battery X Metals Inc.

Battery X Metals is dedicated to advancing North America's clean energy transition through the development of proprietary technologies and domestic battery and critical metal resource exploration. The company focuses on extending the lifespan of electric vehicle (EV) batteries, recovering battery-grade metals from end-of-life lithium-ion batteries, and exploring domestic battery and critical metal resources.

The company's portfolio company, Lithium-ion Battery Renewable Technologies Inc. (LIBRT), is developing proprietary technology to test and extend electric vehicle (EV) battery lifespan by addressing battery degradation through cell rebalancing. LIBRT is also developing battery health diagnostic equipment for EV batteries and LIBRT holds the exclusive licence for BatteryMap AI in North America, an AI (artificial intelligence) model with a comprehensive patent portfolio for precise battery monitoring and prediction, extensively trained on vast amounts of real-world data.

The company's wholly owned subsidiary, Battery X Recycling Technologies Inc., in collaboration with the University of British Columbia (UBC), pioneers advanced EV battery metal recovery technologies, with a focus on recovering battery-grade metals, including lithium, nickel, cobalt, manganese, copper and graphite, from the residual material of shredded lithium-ion batteries known as black mass, utilizing an ecofriendly proprietary froth flotation separation process.

The company's 100-per-cent-owned Y lithium project, located in Northern Saskatchewan near Bailey Lake, comprises four mineral claims across two blocks and spans 5,855 hectares (14,470 acres) and holds significant potential for lithium-cesium-tantalum (LCT) pegmatites. Additionally, Battery X Metals owns 100 per cent of the Leaf River project in Nunavik, Quebec, encompassing 83 claims over an area of approximately 3,500 hectares, and the Abitibi, Que., Reservoir-Dozios project, encompassing 52 claims over an area of approximately 3,500 hectares. Each project is in close proximity to key mining projects and within an area of successful lithium exploration. The Nunavik property is contiguous to the Eureka Lithium's New Leaf project and the Abitibi project is located near Sayona Mining Ltd.'s Abitibi lithium hub. Both aforementioned companies report large, mineralized structures and pegmatite formations within the regions.

In addition to its lithium exploration ventures, Battery X Metals also holds the Belanger property, which is National Instrument 43-101 compliant. The property comprises 105 claims over an area of approximately 2,100 hectares and is located in one of Canada's most prolific gold mining districts, Red Lake, Ont. It is strategically situated near Kinross Gold's Sobel and Great Bear properties. Battery X Metals also holds an equity stake in Premier Silver Corp., which acquired the Mallay mine and processing plant in Peru from Buenaventura, a prominent mining company listed on the New York Stock Exchange. Conveniently located near Lima and Churin town, the Mallay mine is part of Premier Silver's extensive 10,562.4-hectare Tres Cerros gold-silver project. This diversification enhances Battery X Metals' investment portfolio, offering potential opportunities in the precious metals sector.

With a dedicated management team, focused on maximizing shareholder value and commitment to sustainability, Battery X Metals is positioned to be an emerging leader in lithium-ion battery technologies, as well as battery and critical metal exploration.

We seek Safe Harbor.