Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) is pleased to announce the signing of a Memorandum of Understanding with Nipissing First Nation covering the territory where Volta’s Springer Rare Earth Element Project is located near Sturgeon Falls, Ontario (Figure 1).

Figure 1. Location of Springer Rare Earth Project in Ontario

PURPOSE OF MOU

Volta and NFN agree to engage in open, direct communication and to explore opportunities for collaboration on the mineral exploration and development of the Springer REE Project. NFN’s extensive network of First Nation-owned and community-partnered businesses offers valuable relationships that Volta may benefit from as the project advances. The Parties will keep open and respectful lines of communication, working together to review Volta’s work plans and pursue shared initiatives. A key goal is to ensure that NFN and its members can share in the project’s benefits-through local job creation, contracting opportunities, and future business and investment partnerships. This MOU guides the Parties’ collaboration up to the Feasibility Stage and the development of an Impact Benefit Agreement.

President and CEO, Kerem Usenmez, commented, “Volta has built a strong relationship with NFN and local communities since we acquired the Springer Project in Nipissing First Nation’s traditional territory, and signing this MOU solidifies the support and our collaboration to move our exciting project forward, while respecting the NFN values, mission and vision.

“We very much value the support of NFN for the advancement of the Springer REE Project. We are proud to be partners with NFN and look forward to ongoing collaboration as we look to move the project forward.”

Nipissing First Nation Chief, Cathy Stevens, commented, “This MOU reflects Nipissing First Nation’s commitment to protect our lands and waters while creating meaningful opportunities for our people. By partnering with Volta, we set a strong foundation to pursue economic opportunities together and ensure respect for our Aboriginal and Treaty rights. We look forward to contributing to the advancement of this project.”

ABOUT NIPISSING FIRST NATION

Nipissing First Nation is classified as an urban reserve and is located on the north shore of Lake Nipissing, approximately 320 kilometres north of Toronto. NFN’s land base spans over 30 kilometres between the City of North Bay to the east and the Municipality of West Nipissing to the west. NFN has 11 communities distributed across the Nipissing land base: Garden Village, Veteran’s Lane, Mosquito Creek, Jocko Point, Paradise Point, Meadowside, Beaucage Subdivision, Beaucage Village, Serenity Lane, Yellek, and Duchesnay. The people of NFN, known as the Nbisiing Nishinaabeg, are of Ojibway and Algonquin descent and have lived in the area of Lake Nipissing since time immemorial.

More info on the NFN Values can be found at: https://nfn.ca/mission-vision-values/

Drill Results

All the samples have been delivered to Activation Laboratories in North Bay, Ontario for geochemical assay, and results will be released upon receipt, which are now expected to be reported in October and November. As previously reported, all boreholes intersected multiple thick zones of fenitized syenite and carbonatite breccias and we drilled deeper than originally planned.

Warrant Issuance

Under the terms of the MOU with NFN, Volta has agreed to grant an aggregate of 1,000,000 common share purchase warrants to the Nipissing First Nation. Each Warrant will entitle the holder to purchase one common share of the Company at an exercise price of $0.26 per Warrant Share for a period of five years following the date of issuance of such Warrants. The Warrants will be subject to a hold period of four months and one day from their date of issuance. The issuance of the Warrants is subject to the approval of the Canadian Securities Exchange.

ABOUT VOLTA METALS LTD.

Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) is a mineral exploration company based in Toronto, Ontario, focused on rare earths, gallium, lithium, cesium, and tantalum. It owns, has optioned and is currently exploring a critical minerals portfolio of rare earths, gallium, lithium, cesium, and tantalum projects in Ontario, one of the world’s most prolific and emerging hard-rock critical mineral districts.