Boron One Holdings Receives Approval for Jarandol Basin Exploration License

- License Covers 21 km² in a Basin That Hosts Two Known Boron Deposits -

VICTORIA, April 16, 2024 - Boron One Holdings Inc. ("Boron One" or the "Company") (TSX-V:BONE), a company dedicated to the decarbonization of Planet Earth through the responsible utilization of its boron assets, is pleased to report that it has received a mineral exploration license covering 21 square kilometers within the Jarandol Basin in Serbia. The Jarandol Basin License contains all the land within the basin, which is prospective for boron, including the territory directly adjacent to, and in between, the Company's 100% owned Piskanja Boron Project on the eastern edge of the basin, and the government owned Pobrdje Boron Mine, located 2.5 km away from Piskanja on the opposite edge of the basin.

Previous exploration in the Jarandol Basin by the Company has shown that Jarandol has the potential to host extensions to both the Piskanja and Pobrdje boron deposits, as well as the potential to host unrelated boron deposits. In a previous drill program conducted by Boron One (as reported by the Company in a news release on December 22, 2015), 6 exploratory drill holes returned occurrences of borates, conducted at a location approximately midway between the Piskanja and Pobrdje deposits. Two of the six drill holes intersected one boron layer of potential economic grade and thickness, while a third hole intersected two distinct boron layers. Mineralized intervals included one intersection of 1.88 meters averaging 41.33% B2O3, a second intersection of 1.3 meters averaging 41.88% B2O3, and a third intersection of 1.75 meters averaging 39.71% B2O3.

"The re-addition of the Jarandol Basin License is exciting for us" said Tim Daniels, President of Boron One. "Our previous exploration efforts within the Basin were certainly encouraging, improving our knowledge of the geology outside of the current footprint of our Piskanja deposit and giving us some meaningful drill targets on which to focus, in order to try to expand our mineral resource."

The Jarandol Exploration License is valid for 3 years, covers 21.03 km², and is extendable by the Company up to a total of 8 years, subject to Serbian mining regulations.

About the Jarandol Basin

The Jarandol Basin is a Miocene age tertiary deposit located within the Vardar Belt of Neogene lacustrine deposits of evaporates. The Vardar Belt contains the world's richest borate deposits, including those found in Turkey, which are of similar genesis to the Serbia borate deposits.

The Jarandol Basin is a well-known historical mining district in southern Serbia which hosts two known boron deposits, an operating coal mine, and a (now depleted) magnesite mine. The Basin hosts excellent infrastructure for mining including paved roads, rail, power, experienced miners, and sufficient support industries, located 250 km south of Belgrade by all season, paved roads.

About the Piskanja Boron Project

Piskanja is Boron One Holdings Inc.'s wholly owned boron deposit with a Measured Mineral Resource of 1.39 million tonnes (averaging 35.59% B2O3), an Indicated Mineral Resource of 5.48 million tonnes (averaging 34.05% B2O3), and an Inferred Mineral Resource of 284.7 thousand tonnes (averaging 39.59% B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in the Company's report titled, "Technical Report and Preliminary Economic Assessment For The Piskanja Borate Project, Serbia, June 24, 2022". The responsible person for the PEA and the Mineral Resource Estimate contained within, is Prof. Miodrag Banješevi? PhD. P.Geo, EurGeol, a Qualified Person in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards), and independent of Boron One Holdings Inc.

On behalf of the Board of Directors,
Tim Daniels

About Boron One Holdings Inc. (formerly known as Erin Ventures Inc.)

Boron One Holdings Inc. is a leading company dedicated to advancing the decarbonization of our planet through the responsible utilization of its wholly owned boron assets. With a commitment to environmental stewardship and sustainability, Boron One aims to play a crucial role in reducing the carbon footprint and supporting a cleaner, greener future.

Headquartered in Victoria, B.C., Canada, Boron One's shares are traded on the TSX Venture Exchange under the symbol "BONE". For detailed information please see Boron One's website at www.boronone.com or the Company's filed documents at https://www.sedarplus.ca/.

Qualified Persons

Nenad Rakic, EurGeol, Piskanja Project Field Manager, a qualified person as defined by NI 43-101, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein.

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.

For Boron One Holdings Inc. Investors

Certain statements made in this press release that are not based on historical information are forward-looking statements that involve substantial known and unknown risks and uncertainties. This press release contains express or implied forward-looking statements relating to, among other things, Boron One's expectations concerning management's plans, objectives and strategies, including its plans for advancing the Company's Piskanja Project through to an exploitation license. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry.

Boron One Holdings Inc. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Boron One with the securities regulatory authorities, available at www.sedar.com. These and other factors made in public disclosures and filings by the Company should be considered carefully.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.

SOURCE: Boron One Holdings Inc.