Volt Lithium Announces Appointment of New Board Chair

CALGARY, Sept. 06, 2023 - Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE: I2D) (the "Company" or "Volt") is pleased to announce the appointment of Lt. General (ret'd) Honourable Andrew Leslie as Chair of the Company's Board of Directors, succeeding Mr. Warner Uhl, who will continue as a Director of the Company. With a diverse leadership background across military, business and government, Lt. General Leslie brings high integrity and strong corporate governance capabilities to his new role as Board Chair.

"We are very pleased to have Lt. General Leslie assume the role of Board Chair, as his insights, connections and business acumen have been truly invaluable as a member of Volt's Board of Directors, and we look forward to further leveraging his contributions as Board Chair," said Alex Wylie, CEO of Volt. "We also wish to thank Warner for his valued tenure serving as Chair of the Company's Board and look forward to his continued active participation as a Director."

General Andrew Leslie boasts a diverse career spanning roles as a soldier, business leader, Federal Parliamentarian, Chief Government Whip, and board of director across corporate, charitable, and government organizations. Notably, he served as the Commander/CEO of the Canadian Army for four years during the latest Afghan War, capping his Canadian Armed Forces journey. With international experience in peacekeeping and war through UN and NATO missions, he earned numerous Canadian and international awards.

Transitioning to the corporate sphere, he became a senior Vice President at a major Canadian corporation. His education includes degrees from the University of Ottawa (Economics), the Royal Military College (MA/Strategic Studies), and the University of London (U.K.). He also completed executive courses at Harvard Business School, Canadian Forces Colleges, and the Rotman School of Management's Institute of Directors Education program. General Leslie's extensive military training encompasses leadership, governance, ethics, strategy, tactics, equipment acquisition, and risk management. In 2021, he received an honorary Doctorate from the Royal Military College. Currently residing in Ottawa, he is bilingual in English and French.

Stock Option Grant

Volt also announces today that the Company has granted an aggregate of 3,855,000 stock options (the "Options") to certain directors, officers and consultants (the "Option Recipients") to purchase 3,855,000 common shares (the "Shares") in the capital of the Company pursuant to the Company's stock option plan (the "Option Plan"). The Options, which vest immediately, are exercisable at a price of $0.30 per Share for a period of four years from the date of grant, expiring on September 5, 2027.

These grants represent compensation to the Option Recipients for their respective service to the Company and as an incentive mechanism to foster and align the interest of such persons in the long-term success of Volt.

About Volt

Volt is a lithium development and technology company aiming to be North America's first commercial producer of lithium hydroxide and lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management's hydrocarbon experience and existing infrastructure to extract lithium deposits from existing wells, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. With four differentiating pillars, and a proprietary Direct Lithium Extraction ("DLE") technology, Volt's innovative approach to development is focused on allowing the highest lithium recoveries with lowest costs, positioning us well for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company's continued progress on its website at www.voltlithium.com.

Contact Information

For Investor Relations inquiries or further information, please contact:

Alex Wylie
President and CEO
M: +1.403.830.5811

Forward Looking Statements

This news release includes certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, the Company's obligation to maintain the mineral claims that comprise the Stateline Agreement in good standing for a period of two years. Forward-looking statements and forward-looking information also include any statements relating to future lithium production, liquidity, enhanced value and capital markets profile of Volt, future growth potential for Volt and its business, and future exploration plans. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the price of lithium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Volt's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms, that the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.