ACME Lithium Inc. reported that the Company has completed drilling, construction, and development of Dissolved Mineral Resource Exploration (DMRE) test well TW-1 as part of the Phase 2 expanded drill program at ACME's Clayton Valley Nevada lithium brine project. TW-1 targets the Lower Gravel Unit (LGU) which extends from approximately 1250 to 1820 feet below ground surface (bgs) at the test well location. As announced in August 2022, the LGU presented some of the highest lithium values, up to 130 mg/L in brine samples collected in ACME's Phase 1 program, which was completed in July 2022.

The LGU presents a deep, laterally expansive aquifer, which overlies bedrock throughout a significant portion of Clayton Valley. ACME's project area is contiguous and adjacent to the northwest of Albemarle's lithium brine operation in Clayton Valley which has been in operation since 1966. Clayton Valley remains the only producing lithium brine region currently in production in the United States.

The completion of DH-1A in April 2023 increased the depth of the LGU from approximately 1250 - 1820 feet. The underlying bedrock was drilled to a depth of 1940 feet and a zone-isolated brine sample was collected using a down-hole Ardvark™? packer system from approximately 1880 to 1840 feet.

Zone testing indicated brines extend into the bedrock with lithium concentration up to 71 mg/L. Downhole geophysical logs completed include a nuclear magnetic resonance (NMR) log, which provides indications of potential fluid volume, mobile, or capillary bound waters, and estimates of hydraulic. conductivity throughout the entire borehole. TW-1 was successfully drilled and casing installed to a target depth of 1,820 feet by Harris-Earth Drilling in accordance with Nevada Division of Minerals DMRE well permit W0017.

The perforated casing captures the LGU from 1,300 to 1,800 feet, approximately 500 feet of potential ore-grade lithium brine aquifer.