Victory Battery Metals announced that the Company initiated expansion plans for its Smokey Lithium, Nevada property upon preliminary analysis of sequential delivered drill program data, and that its exploration team continues to analyze the overall drill program findings. The Company continues to analyze its overall results from all exploration activities, including its most recent drill results combined with 2022 drilling, field mapping, surface sampling, and Tromino passive seismic studies, to develop the most complete picture for ongoing exploration plans at Smokey Lithium. The project area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at surface.

When combined with the highly encouraging results from Victory's first round drilling (com completed in 2022) the project area is highly prospective. The Company's Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, to the west of American Lithium's lithium project. Smokey Lithium is located northwest of Cypress' Clayton Valley Lithium Project and to the southwest of American Lithium Corporation's Tonopah Lithium Claims Property in southwest Nevada.

Esmeralda County Nevada is a prolific region for lithium clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee). The technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.