Rain City Resources Inc. (CSE: RAIN) Announces MOU

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Rain City Resources Inc. (CSE: RAIN) Announces MOU with Advanced Mining Technology Center of University of Chile

Partnership to focus on direct-lithium-extraction technology (DLE)

Wednesday, October 23, 2024 – Vancouver, BC – Rain City Resources Inc. (RAIN:CSE) (the “Company” or “RAIN”) announces it has entered into a Memorandum of Understanding (“MOU”) with the Advanced Mining Technology Center (AMTC) of the University of Chile. AMTC is the leading research center in Chile in technology applied to mining, whose mission is to generate world class multidisciplinary research and transfer new technologies in response to the challenges of mining in Chile.

Chile ranks as the second-largest lithium producer in the world accounting for about 24% of global production. Partnering with AMTC allows Rain to collaborate with some of the nation’s top talent and expertise. The objective of this collaboration is to promote the advancement of environmentally responsible extraction of lithium and associated by-products from salars in Chile.

The partnership between Rain and AMTC will focus on strategic areas of DLE including:

a) collaboration on opportunities in joint Research and Development (R&D) projects;

b) evaluation of defined projects and processes;

c) support in process certification through technical studies and access to AMTC laboratories and technicians for analysis of samples taken from Rain’s Chilean projects;

Benjamin Hill, CEO of Rain commented:

“It is a tremendous privilege to collaborate with AMTC and the University of Chile. This MOU aligns perfectly with Rain’s objectives to position the ACCELi technology as one of the most environmentally friendly and lowest cost lithium extraction methods globally. We also welcome the opportunity to bridge relationships between Canada and Chile in the DLE sector and look forward to a cooperative and productive relationship.”

About AMCT

AMCT was founded in 2009 in the Faculty of Physical Sciences and Mathematics at the University of Chile and supports more than 170 researchers including academics and graduate students. In addition to partnerships with private sector mining exploration and production companies, AMTC has also developed significant cooperation agreements and joint research initiatives with government agencies, and research and technology centres worldwide. In 2021, AMTC executed a technological development agreement with Codelco, Chile’s state-owned mining company, with a mandate to drive innovation and address environmental challenges in the mining sector.

About Us:

Rain City is an integrated lithium technology and project development company committed to solving the environmental, social, and economic issues associated with extracting lithium from brine. Adapting technology which has already been proven in the oil fields with over 20 million barrels of water treated, to one of DLE, will, we believe, provide a step-change in the cost of lithium production, with an industry leading footprint and with little to no water use.

FOR FURTHER INFORMATION CONTACT:

Benjamin Hill David Shaw Chief Executive Officer Chairperson

RAINCITY RESOURCES INC.

Website: www.raincityresources.com Email: [email protected] Telephone: 778-819-3792

Cautionary Statement Regarding Forward-Looking Information

Forward-Looking Statements This news release may include certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: working to position the Company’s ACCELi technology as one of the most environmentally friendly and lowest cost lithium extraction methods globally, Direct Lithium Extraction processes and technology; the business and operations of the Company and associated operational forecasts. Forward looking statements are based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; uncertainties surrounding renewable energy and the lithium production industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that proposed operations will be successful or that the anticipated financial, economic or strategic benefits will be realized.

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.