Mr. Adrian Lamoureux reports

VITAL BATTERY METALS CLOSES PRIVATE PLACEMENT FINANCING

Further to its news release dated July 25, 2024, Vital Battery Metals Inc. has completed the previously announced non-brokered private placement of units of the company at a price of 11.5 cents per unit for aggregate gross proceeds of $500,000.

Each unit consists of one common share of the company and one-half of one transferable warrant. Each warrant entitles the holder to purchase one common share at a price of 15 cents per share until Aug. 22, 2026.

The offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions. Accordingly, the units issued in the offering are not subject to a statutory hold period in accordance with applicable Canadian securities laws. There is an offering document related to the offering, which can be accessed under the company's profile on SEDAR+ and on Vital Battery Metals' website.

In connection with the offering, the company paid finders' fees to an eligible finders equal to: (i) a cash commission in the amount of $21,593.55, being 6 per cent of the aggregate gross proceeds raised from investors introduced by the finder; and (ii) 187,770 non-transferable share purchase warrants, being 6 per cent of the aggregate units purchased by investors introduced by the finder. Each finder warrant entitles the holder thereof to acquire one common share of the company at a price of 15 cents per share until Aug. 22, 2026.

The net proceeds of the private placement are expected to be used toward advancement of the company's Sting property and for general working capital purposes.

About Vital Battery Metals Inc.

Vital Battery Metals is a mineral exploration company dedicated to the development of strategic projects comprising battery metals, base metals and precious metals in stable jurisdictions. The company is working to advance the Schofield lithium project, the Dickson Lake lithium project, the Sting copper project and the Vent copper-gold projects.

The Sting copper project covers approximately 12,700 hectares and hosts multiple historic Newfoundland and Labrador government documented mineral occurrences and is located within a 50 kilometres corridor known for significant volcanogenic massive sulphide (VMS), copper quartz vein lode and low-sulphation epithermal gold showings. The Vent copper-gold project covers 1,562 hectares in British Columbia. Vital continues to evaluate value-add assets to bolster its project portfolio.

The Schofield lithium project covers 8,824 hectares and is adjacent to Brunswick Exploration's Hearst lithium project. The Schofield lithium project is located approximately 60 kilometres south of Hearst, Ont. The Dickson Lake lithium project covers 464 single-cell mining claims and approximately 9,780 hectares and is near Brunswick Exploration's lithium project, Imagine Lithium's Jackpot deposit and Rock Tech's Georgia Lake deposit.

We seek Safe Harbor.