Volt Carbon Technologies Inc. announced that it has entered into an arm's length option agreement with Green Battery Minerals Inc. for Volt to acquire an interest in GEM's Berkwood Graphite Project, located in Northern Quebec, subject to approval by the TSX Venture Exchange. GEM . Under the terms of the Agreement (signed on today's date June11, 2024), GEM has agreed to: (i) grant Volt an option to acquire an undivided 5% interest in the Property that is exercisable until December 31, 2025; and (ii) issue 4,000,000 shares of GEM to Volt.

As consideration for the Property Option and the Shares, Volt has agreed to expend $150,000 on the Property prior to December 31, 2024. Should Volt choose to exercise the Property Option, in addition to the Exploration Expenditures, Volt will be required to make a cash payment of $1,500,000 to GEM. If, after Volt exercises the Property Option, an arm's length third party presents a bona fide offer to purchase all or substantially all of the assets of GEM, to merge with GEM or complete another form of business combination with GEM (a "GEM Takeover Transaction"), then GEM has the option to buy-back the Property Option (the "GEM Option").

Should GEM exercise the GEM Option, GEM shall pay Volt the greater of: (i) $1,800,000; or (ii) 5% of the consideration paid to GEM pursuant to the GEM Takeover Transaction, in cash.