Recharge Resources Ltd. provided the following update on the company's Pocitos One Lithium Brine Project in Salta, Argentina. Acquisition of 100% interest in Pocitos 1. As announced on August 15th, 2023 the company entered in to an agreement to acquire a 100% interest in the 800 Has Pocitos 1 Lithium Brine Project free of royalty payments previously contemplated under the company's Spey Resources option agreement. The company announced the Pocitos 1 exploration licence was paid for and the public deed noting the transfer of ownership to the company's 100% owned subsidiary Recharge Resources Argentina S.A.U. has been signed by all parties, notarised and lodged with the Mining Court in Salta, Argentina.

WSP will utilize information gathered from the NI 43-101 technical report dated 30 June 2023 completed by Panopus Pte Ltd. and the May 2023 MT Survey, 2018 TEM survey, drilling programs, core logs and core porosity data to prepare the Resource Estimate. The company is currently waiting on 2018 core logging, sampling depths and interpretation of its porosity data in order for the resource estimate to be completed by WSP. WSP has relevant experience with lithium projects and fellow listed publicly traded lithium and critical element companies, including but not limited to: Richlink Offtake Letter of Intent (LOI): Recharge announced in September 30th, 2022 that the company had executed a Letter of Intent (the "LOI") with Richlink Capital Pty Ltd. ("Richlink") for the supply of a minimum of 10,000 up to 20,000 tonnes annually of lithium chloride or, at Richlink's discretion, lithium carbonate to two of their clients in China.

Furthermore the letter of intent established that once a NI 43-101 resource report was prepared that Richlink and/or its clients will be provided with the opportunity on a first priority basis to also become strategic investors via combination of debt and private placement in the Argentinian Recharge entity at the time of plant financing with the proceeds directed toward building an Ekosolve?? plant that can produce lithium chloride and lithium carbonate. The relationship remains in good standing and both Recharge, Richlink and their clients look forward to the completion of the NI 43-101 Resource Estimate.

2018 and 2022 Drilling Success. Recharge completed drilling the third hole at the Pocitos 1 lithium brine project and is currently awaiting permits for its upcoming 2023 drill program. MT Survey Success.

Seawater with low sodium chloride content has a value 1.9 to 3.16 Ohm-m so its likely there are other ions such as lithium in the brines to reduce the resistivity to 0.3-0.5 Ohm-m. The MT survey was instrumental in understanding that the reservoir may indeed be much larger and wider then initially contemplated by the drilling which only drilled to 425 meters and has become a key component in the establishment of the company's NI 43-101 resource estimate currently being modeled. Ekosolve Technology and The Successful extraction of Pocitos 1 Brines. The company announced on September 27th, 2022 that Recharge had entered in to a technology licence to build up to a 20,000 tonne plant at Pocitos 1. Pre-engineering studies identified a 94.9% recovery rate from the brine samples taken during drilling at the Pocitos project as announced on June 23rd, 2023.

The Ekosolve?? Lithium Solvent Exchange Extraction process can efficiently manage the processing of the brines to produce lithium chloride or lithium carbonate with a grade higher than 99.5% and a recovery of more than 95%, far exceeding any published Direct Lithium Extraction method available to date. The key advantage of the Ekosolve system is the high rate of lithium yield targeting 95%+.