Green Technology Metals Limited announced that it has signed a binding option agreement (Option Agreement) for an option (Option) to purchase an 80% interest (80% Option Interest) in the Junior Lake Project (Junior Lake or the Project) from Landore Resources Canada Inc. (Landore) which comprise 591 staked mineral claims on 10,856 Hectares (109km2) of tenure located adjacent to the Seymour Project (Seymour) in Ontario, Canada. The tenements are located immediately adjacent (approximately 22km) from the Company's Seymour project in Ontario, The Junior Lake Project is host to three drill-ready LCT pegmatite prospects, identified from previous exploration, indicating the Project's lithium potential. The Junior Lake Project, currently 100% owned by Landore, consists of 33,029 hectares, including 10,856 hectares relating to Lithium tenure in the province of Ontario, Canada.

The project is located approximately 235 kilometres north-northeast of Thunder Bay and 75km east-northeast from the town of Armstrong and easily accessible via Jackfish Highway which connects the Seymour, Falcon and Junior Lake project areas. Junior Lake is located within the Caribou Lake ­ O'Sullivan greenstone belt of the East Wabigoon Sub province of the Superior Province, a highly prospective Archean greenstone belt known host to multiple known gold and other precious and base metal occurrences. The greentone belt traverses the Junior Lake Property from east to west for approximately 31 kilometres and ranges from 0.5 to 1.5 kilometres wide containing all of Landore's stated mineral resources and prospects including the BAM Gold Deposit, Lamaune Gold Prospect, the B4-7 Nickel-copper-cobalt- Platinum-Palladium-gold Deposit and the VW Nickel-Copper-cobalt Deposit.

Previous exploration has been largely focused on the gold potential of the area and a greater portion of the greenstone belt and Junior Lake project remains underexplored. The Despard Lithium target: Located approximately 1km north of the east end of North Lamaune Lake, holding exposed outcrop and boulders intermittently over an east-west length of approximately 914 metres and across widths up to 27 metres, containing up to 30% spodumene. Historic exploration at Despard is limited with a 10 hole diamond drilling program undertaken in 1959 intersecting 1.68% Li2O over 6.1 metres, 1.70% Li2O over 2.01 metres and 1.53% Li2O over 2.74 metres.

The Swole Lake target: A spodumene bearing pegmatite located in the centre of the Junior Lake property, 10 kilometres to the east of the Despard Lithium occurrence and immediately west of Swole lake. The area is underlain by a mafic to ultra-mafic intrusion situated within a sedimentary and volcanic sequence of Archaean aged rocks. Grab and channel samples during 2009 and 2010 field exploration programs identified the prospective nature of this area for base metals and lithium mineralisation.

In 2011, a 1,411m, 10 hole diamond drilling program was completed by Landore to test a geophysical anomaly and confirm the presence of a pegmatite dyke. Drilling within the pegmatite boulder field confirmed the presence of a pegmatite dyke with up to 40% lithium bearing minerals observed. Assay results yielded elevated levels of lithium and tantalum with drill results returning intersections of 1.13% Li2O over 3.1m and 1.05% Li2O over 9.5m from hole 0411-304.

The Tape Lake target: Two spodumene bearing pegmatite dykes ranging from 5m to 8m located 5 kilometres north of Swole Lake have been discovered, observed to be cross cutting gabbroic rocks identified in the north end of the property and trend 140-150 and dip shallowly to the east. Proposed Exploration Program: GT1 plans to undertake a two-phase exploration program at the Junior Lake Property commencing in June 2023. Phase one exploration will initially consist of geological mapping and sampling of the Despard and Swole target areas to identify additional drill targets at the property and will be followed by a phase two maiden 1200m diamond drilling program initially focusing on the Despard target area.

The two-phase program is anticipated to be completed by fourth quarter of 2023. Concurrently with the exploration program at Junior Lake, GT1 will be undertaking an exploration program that will include geological mapping of the North Seymour and Falcon project areas. Option Agreement: Option Agreement executed for an Option to purchase an 80% Option Interest in the Project from Landore on 591 staked mineral claims. The option period is for 36 months commencing on the date the Company makes payment of the Option Fee (defined immediately below) (Effective Date) and gives GT1 the exclusive right to explore, develop and conduct Mining Operations at the Project (and determine the programme and budget in respect of all of the foregoing).

As consideration for granting the option, GT1 will pay CAD 500,000 to Landore (Option Fee) within 5 business days of execution of the Option Agreement. The Option (subject to payment of the Option Fee) will provide GT1 the exclusive right to acquire the 80% Option Interest by paying an additional sum of CAD 3,500,000 in a combination of cash or fully paid ordinary shares in the capital of the Company (GT1 Shares) through three milestone payments as follows: CAD 500,000 in cash to be paid to Landore on or before the date that is 12 months after the Effective Date; CAD 500,000 in cash and CAD 500,000 in either cash or GT1 Shares based on a 20-Day VWAP (at GT1's election) to be paid to Landore on or before the date that is 24 months after the Effective Date; and CAD 1,000,000 in cash and CAD 1,000,000 in either cash or GT1 Shares based on a 20-Day VWAP (at GT1's election) to be paid on or before the date that is 36 months after the Effective Date. Subject to GT1 having satisfied each of the Staged Payments on or before the relevant deadline set out above, Landore must transfer the 80% Option Interest to GT1 and Landore and GT1 will be associated in an unincorporated joint venture in respect of the Project (Joint Venture) where GT1's initial joint venture interest will be 80% and Landore's shall be 20%.