Mr. Joseph Mullin reports

PURE ENERGY MINERALS ANNOUNCES AGM VOTING RESULTS AND THE ELECTION OF TWO NEW DIRECTORS TO THE BOARD

Pure Energy Minerals Ltd. has released the voting results from its annual general meeting of shareholders held on June 5, 2024.

Shareholders voted in favour of all items of business put forth at the meeting. Each of the resolutions is explained in detail in the management information circular dated May 6, 2024. It is available for reference under the company's profile on SEDAR+.

A total of 6,424,974 common shares, representing approximately 19 per cent of the company's outstanding common shares, were voted in person and by proxy at the meeting.

Shareholders voted in favour of:

• Reappointing Baker Tilly WM LLP as auditor of the company;
• Setting the number of directors at six, with the following nominees elected as directors:
  • Joseph Mullin;
  • Mary Little;
  • Patrick Galletti;
  • Yuankai Mao;
  • Daniel Barnosky;
  • Marceau Schlumberger;
• Reapproving the company's stock option plan.

The elected directors will hold office until the close of the next annual general meeting of the company or until their successors are appointed. As disclosed, Nathaniel Hartwig and Michael Dake did not stand for re-election to the board. On behalf of the board of directors, Mr. Mullin thanks Mr. Hartwig and Mr. Dake for their important service to the company and wishes them well in their endeavours.

Mr. Mullin also welcomes Mr. Barnosky and Mr. Schlumberger to the board. He said: "We are very pleased that Messrs. Barnosky and Schlumberger have joined the Pure Energy board. Each brings strong financial and market expertise in the energy and battery metals areas which will strengthen Pure Energy. The company looks forward to working with them as the company enters a new stage of growth."

Mr. Barnosky has over 25 years of experience in global energy, power and decarbonization markets as a private equity investor, board member and investment banker. He is the founder and managing director of Quintessa Consultancy Ltd. (2020 to present), an investment and advisory platform focused on decarbonization and energy transition. Previously, he was partner at Magnesium Capital LLP (2014 to 2020), a European energy-focused private equity firm, and a managing director at major investment banks, where he advised on over $100-billion of energy M&A (mergers and acquisitions) and financings (1997 to 2014). Mr. Barnosky is currently based in London.

Mr. Schlumberger is the founder and managing director of Coral Reef Capital LLC (2008 to present), a private investment firm focused on oil and gas, and the U.S. exploration and mining industry. He serves as a director of Western Exploration Inc. as well as several private natural resource companies. Mr. Schlumberger holds an MBA from the Wharton School.

About Pure Energy Minerals Ltd.

Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest mineral landholdings in the Clayton Valley. Pure Energy's Clayton Valley project adjoins and surrounds on three sides of the Silver Peak lithium brine mine operated by Albemarle Corp.

Pure Energy's strategic partner, Schlumberger Technologies Corp. (SLB), is the operator of the Clayton Valley project. In May, 2019, Pure Energy and SLB signed an earn-in agreement over the CV project, which requires significant investment by SLB at the project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate (LiOH-H2O) and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB's costs, technical parameters and ultimate technology are anticipated to differ from the published PEA (preliminary economic assessment). For further details regarding SLB's participation, please refer to Pure Energy's annual general and special meeting management information circular dated April 4, 2019, available on SEDAR+.

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