Victory Battery Metals provided additional information from its Phase 2 drilling program at its Smokey Lithium Nevada property, demonstrating high-grade Li claystone mineralization over significant widths, comparing favorably to American Lithium's previously reported "high-grade" in-fill drilling results for their TLC claystone Li deposit. Victory is currently planning a follow-up exploration and drilling program on their 100% owned Smokey Lithium Project in Nevada, where a thick sequence of high-grade claystone lithium mineralization was reported in diamond drill hole 23-01. Highly attractive high-grade Li claystone deposits of the rich Esmerelda lithium belt in mining-friendly Nevada are represented by large volumes of open-pittable, near-surface, relatively flat laying, free digging lithium mineralization amenable to low-cost, sustainable mining methods.

The current January 2023 Mineral Resource Estimate and Technical Report published recently by Stantec Consulting Services Inc. ("Stantec"), for American Lithium Corp.'s TLC deposit reported a Measured Resource of 4.2 Mt Lithium Carbonate Equivalent ("LCE") (860 Mt @ 924 ppm Li), an Indicated Resource of 4.63 Mt LCE (1192 Mt @ 727 ppm Li) and an Inferred Resource of 1.86 Mt LCE (486 Mt @ 713 ppm Li)using a cut-off grade of 500 ppm Li to an open pittable vertical depth limit of 274 meters. Victory is now planning to define the subsurface extensions of the thick claystone interval discovered in DDH 23-01. A geophysical approach will be taken to map basement faults and potentially conductive claystone units to outline the depth and continuity of favourable thick high-grade lithium claystone units present on the property prior to the next phase of drilling.