Volt Lithium Corp. announced the termination of two existing option agreements related to copper assets that were part of its predecessor company?s portfolio and were not being pursued as part of Volt?s strategy. With the termination of these agreements, Volt?s asset base has been streamlined and offer investors exposure to a growing, pure-play lithium development and technology company aiming to be North America?s first commercial producer of lithium hydroxide and lithium carbonates from oilfield brine.

The two terminated option agreements include: (i) the option to acquire a 100% interest in the Stateline Property, pursuant to an option agreement among Cloudbreak Discovery PLC, Cloudbreak Discovery (Canada) Ltd., Tarsis Resources US Inc., Alianza Minerals Ltd. and Volt dated February 9, 2022 (the ?StatelineAgreement?); and (ii) the option to acquire a 100% interest in the Silver King Property, pursuant to an option agreement among Goodsprings Exploration LLC, Robert Cole, Lori Cole and 1269280 BC Ltd. (?BCCo?) dated February 10, 2021 (the ?SK Agreement?). The terms of the Stateline Agreement were announced in the Company?s release dated February 10, 2022. In accordance with the Stateline Agreement, the Company has given notice for the termination of the Stateline Agreement, which will be effective immediately.

Upon termination, Volt is required to maintain the mineral claims that comprise the Stateline Property in good standing for a period of two years, which is expected to cost approximately $30,000. The Company acquired the option underlying the SK Agreement when it acquired BCCo on October 27, 2021, pursuant to a three-cornered amalgamation in accordance with Section 260 of the Business Corporations Act (British Columbia) (the ?RTO Transaction?). Pursuant to the RTO Transaction, BCCo was amalgamated with 1303288 BC Ltd. (?Volt SubCo?), which is a wholly-owned subsidiary of the Company.

The terms of the SK Agreement were disclosed in the Company?s filing statement dated October 18, 2021. In accordance with the SK Agreement, the Company, through Volt SubCo, has given notice for the termination of the SK Agreement, which will be effective immediately.