Frontier Lithium (TSX-V: FL) wishes to clarify, at the request of The Canadian Investment Regulatory Organization, the recently announced disclosure regarding proposed Federal and Provincial government funding for the Company’s proposed lithium conversion facility in Thunder Bay, Ontario. Letters of Intent for the proposed funding were provided to the Company by each of the Federal and Provincial Government’s. The LOI’s are non-binding and serve as an initial step in ongoing discussions with the respective government agencies. The LOI’s express an interest and intent by the parties to work towards completing a final term sheet but do not constitute a legally binding agreement. While discussions between the parties are ongoing, there is no guarantee or assurance that final agreements will be reached and/or funding will be provided to the Company be either level of government.

About Frontier Lithium
Frontier Lithium Inc. is a pre-production mining company with an objective to become a strategic and integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the growing electric vehicle and energy storage markets in North America. The Company’s PAK Lithium project maintains the largest land position and resource in a premium lithium mineral district located in Ontario’s Great Lakes region.

About the PAK Lithium Project
The PAK Lithium Project is a fully integrated lithium development initiative, developing North America’s highest-grade lithium reserves. A joint venture between Frontier Lithium Inc. (92.5%) and Mitsubishi Corporation (7.5%), the project involves the extraction of lithium ore, advanced processing to produce high-purity lithium concentrates, and downstream refining facility to manufacture battery-grade lithium salts. A 2023 Pre-Feasibility Study by BBA E&C Inc., titled “National Instrument 43-101 Technical Report PFS PAK Lithium Project”, estimates a 24-year project life with a post-tax NPV (8%) of US$1.74 billion and an IRR of 24.1%. These results were disclosed in a May 31, 2023, press release and filed on SEDAR+ (www.sedarplus.ca).