Bearing Lithium Corp. release the results of its updated Definitive Feasibility Study for the Stage One Maricunga Lithium Brine Project. The Maricunga project is managed by Minera Salar Blanco (MSB), which is owned by Lithium Power InternationaI Limited ("LPI") (51.55%), Borda Group in Chile (31.31%) and Bearing Lithium Corp.

("BRZ") (17.14%). The Stage One Project (herein the "Project") is owned and operated by Minera Salar Blanco S.A. ("Minera Salar Blanco or MSB"). MSB is in turn owned by Lithium Power International 51.55%; Minera Salar Blanco SpA (previously BBL) 31.31%; and Bearing Lithium Corp.

17.14%. The associated report prepared by Worley and Atacama Water for MSB is to provide a National Instrument 43-101 ("NI 43-101") compliant Definitive Feasibility Study ("DFS") of its "Stage One Project" located in Salar de Maricunga in the Atacama Region of northern Chile. The report provides an independent updated Mineral Reserve estimate and a technical appraisal of the economic viability of the production of an average of 15,200 t/a of battery grade lithium carbonate over a 20- year mine-life from the lithium contained on the `Old Code' mining concessions (OCC) owned by MSB, based on additional exploration work carried out to 400 m depth during 2021.

The OCC are constituted under the 1932 Chilean Mining Code and do not require a special license from the Chilean Government (Contrato Especial de Operación del Litio ­ CEOL) for the production and sale of lithium products. Resource estimates are for lithium and potassium contained in brine. The DFS report was prepared under the guidelines of NI 43-101 and in conformity with its standards.