Lithium One Announces Private Placement

Vancouver, November 3, 2022 - Lithium One Metals Inc. (TSXV: LONE) (FSE: H49) (the "Company" or "LONE") is pleased to advise that it has arranged a private placement of up to 6,000,000 common shares at a price of $0.25 per share for total gross proceeds of $1,500,000. The Company intends to use the proceeds of the private placement to complete the acquisition of the Lac Astrid Project (now called the Taycan Project) as disclosed in the Company's news release of September 23, 2022, for mineral exploration expenditures and to fund general working capital.

The Company may pay finder's fees and issue finder's warrants in connection with the private placement pursuant to the policies of the TSX Venture Exchange.

All securities issued under the placement will be subject to regulatory hold periods expiring four months and one day from the date of issuance.

The placement is subject to the acceptance of the TSX Venture Exchange.

The Company further advises that the private placement announced on September 23, 2022, has been cancelled.

On behalf of Lithium One Metals Inc.
"Nick Watters"
Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of financings, the impact of general economic conditions, industry conditions, and, dependence upon regulatory approvals. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.

The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142918