Change of Corporate Secretary

TORONTO, April 12, 2024 - Velox Energy Materials Inc. (TSXV:VLX) ("Velox" or "the Company") advises that joint Corporate Secretary, Ms Karien Slabbert, has resigned effective from 12 April 2024. Ms Silfia Morton remains as Corporate Secretary.

Release approved by the Chief Executive Officer and President of Velox Energy Materials Inc., Simon Coyle.

Please visit our website at www.veloxenergymaterials.com.au for further information.

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About Velox Energy Materials

Velox Energy Materials is a publicly traded energy materials company developing and progressing high-value assets in resource and research-friendly jurisdictions. The Company's priority focus is the advanced NQV Project in Queensland, Australia. The NQV Project hosts the Cambridge Deposit with an CIM compliant Indicated Mineral Resource of 61.33 Mt @ 0.34% V₂O₅ and 234.6 ppm MoO₃ along with an Inferred Mineral Resource of 144.87 Mt @ 0.33% V₂O₅ (cut-off grade of 0.25% V₂O₅) and 241.9 ppm MoO₃ (Technical Report and Maiden Mineral Resource Estimate, North Queensland Vanadium Project, Queensland, Australia, Dufresne et al, December 16, 2022). The Company is targeting shallow, high-grade mineralisation that can be developed using low-cost mining and processing options.

The Company additionally owns Kotai Energy and the option to acquire 100% of the intellectual property rights associated with the Solid-State Hydrogen Storage Project from Curtin University in Western Australia. Kotai is focused on the commercialisation of technology that can produce high-pressure hydrogen following transport as an inert powder.

In October 2023, the Company acquired a package of tenements that are prospective for lithium in eastern Quebec.

SOURCE: Velox Energy Materials Inc.