Mr. Mark Brezer reports

BATTERY X METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Battery X Metals Inc. intends to complete a non-brokered private placement financing of up to one million units of the company at a price of 10 cents per unit for aggregate gross proceeds of up to $100,000.

Each unit shall consist of one common share in the capital of the company and one transferable share purchase warrant of the company, with each warrant exercisable to acquire a common share of the company at a price of 10 cents per warrant share for a period of 24 months from the date of closing.

Closing of the private placement is anticipated to occur on or about Aug. 22, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.

The net proceeds of the private placement are intended to be used for general working capital and outstanding payables. The securities issued under the private placement will be subject to a statutory hold period expiring four months and one day from the closing date.

Insiders may participate in the private placement and will be considered a related party transaction subject to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the private placement by insiders will not exceed 25 per cent of the fair market value of the company's market capitalization. No finders' fees are payable in connection with the private placement.

About Battery X Metals Inc.

Battery X Metals is dedicated to advancing the clean energy transition through the development of proprietary lithium-ion battery technologies and exploring domestic battery and critical metal resources. The company and its portfolio companies focus on testing and extending electric vehicle (EV) battery lifespan, recovering valuable battery metals from end-of-life lithium-ion batteries, and exploring domestic battery metal and critical metal resources.

Battery X Metals owns 49 per cent of Lithium-ion Battery Renewable Technologies Inc. (LIBRT), which develops technology to improve EV battery longevity and health diagnostics. LIBRT holds the exclusive North American licence for BatteryMap AI, 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.

Battery X Metals' Y lithium project in Northern Saskatchewan spans 5,855 hectares and shows significant potential for lithium/cesium/tantalum pegmatites. The company also owns the Leaf River project in Nunavik, Quebec, and the Reservoir-Dozios project in Abitibi, Quebec, each covering approximately 3,500 hectares and located near key lithium exploration sites. Additionally, Battery X Metals holds the Belanger property, located in one of Canada's most prolific gold mining districts -- Red Lake, Ont. Battery X Metals also holds an equity stake in Premier Silver Corp., which owns the Mallay mine and processing plant in Peru. This diversification enhances Battery X Metals' portfolio, offering opportunities in both battery metal and precious metal sectors.

We seek Safe Harbor.