Battery Mineral Announces Removal of Trading Halt

Vancouver, March 18, 2021 - Battery Mineral Resources Corp. (TSXV: BMR) ("Battery" or the "Company") announced today that the TSX Venture Exchange (the "TSXV") has agreed to lift the trading on its common shares. on Monday, March 22, 2021.

The common shares were halted in connection with the Company's announcement that its wholly-owned subsidiary Minera BMR SpA had entered into an agreement with Minera Altos de Punitaqui Limitada ("MAP"), a wholly-owned subsidiary of Xiana Mining Inc. ("Xiana"), to acquire the Punitaqui Mining Complex, a copper-gold mine located in the Coquimbo region of Chile (the "Punitaqui Acquisition"). In connection with the the Punitaqui Acquisition, the Company has entered into a loan purchase agreement with Bluequest Resources AG ("Bluequest") pursuant to which the Company will acquire Bluequest's interest in secured loan obligations with a principal amount of US$10,000,000 owed by Xiana to Bluequest (the "Xiana Indebtedness") and all associated rights, including Bluequest's security interest in MAP and the Punitaqui Mine Complex. Acquiring the Xiana Indebtedness and the associated security will enable the Company to acquire its leasehold interest in the Punitaqui Mine Complex free and clear of the prior claims of any third party secured creditors.

The Punitaqui Acquisition is a "fundamental acquisition" pursuant to the policies of the TSXV and, accordingly, the common shares were halted from trading on the TSXV pending review of documentation regarding the Punitaqui Acquisition.

Completion of the Punitaqui Acquisition is subject to a number of closing conditions, including approval of the TSXV and the completion of its previously announced private placement of up to $15,000,000 of common shares (the "Private Placement").

About Battery Mineral Resources Corp.

Battery is a Canadian-based, multi-commodity resource company. Battery is engaged in the discovery, acquisition, and development of battery metals (cobalt, nickel & copper) and precious metals (silver & gold) mining projects in Canada, with additional cobalt, lithium and graphite projects in the United States and South Korea. Battery is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada, with various high-grade primary cobalt silver-nickel-copper targets located in the Cobalt Belt of Ontario and Quebec. In addition, Battery owns approximately 89.2% of ESI Energy Services, Inc., a pipeline equipment rental and sales company with operations in Leduc, Alberta and Phoenix, Arizona.

For further information, please contact:

Battery Mineral Resources Corp.
Laz Nikeas
Phone: +1 (604) 229 3830
Email: LNikeas@bmrcorp.com

Forward Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements related to the completion of Punitaqui Acquisition, the acquisition of the Xiana Indebtedness and the Private Placement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete the Punitaqui Acquisition, obtaining all required regulatory approvals necessary to complete the Punitaqui Acquisition and the acquisition of the Xiana Indebtedess, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77839