MEGA.CN · 2024-01-22 12:00:00

Megawatt Announces Change in Management

Management Changes

Vancouver, British Columbia‐‐(January 22, 2024) ‐ Megawatt Lithium and Battery Metals Corp.

(CSE:MEGA) (FSE: WR20) (OTC QB: WALRF) (the " Company" or " Megawatt") announces that David

Thornley-Hall has resigned as a director and CEO of the Company to pursue other opportunities. The

Company would like to thank Mr. Thornley-Hall for his contributions to the Company.

The Company is pleased to also announce that Casey Forward, CPA, CGA, has been appointed a s

interim CEO of the Company to fill the vacancy. Mr. Forward has been involved in junior mining

companies for many years. He has served in senior management positions for a number of public and

private companies with projects in Canada, United States and South America in his career.

Pursuant to the Company’s Share Option Plan and subject to regulatory approval, the Company has

granted 200,000 stock options (the “Options”) to Mr. Forward. The Options are exercisable into

common shares in the capital of the Company (the “Shares”) at an exercise price of $0.1 1 per Share

for a period of two years from the date of grant of the Options. The Shares to be issued on the exercise

of the Options will be subject to a hold period of four months and a day from the date of grant of the

Options.

About MegaWatt Lithium and Battery Metals Corp.

MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral

properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base,

rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims

covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the

Province of British Columbia, Canada.

Additionally, the Company has acquired a 100% interest in a company that indirectly holds a 100%

interest (subject to a 2% NSR) in two prospective silver -zinc projects in Australia, being the Tyr Silver

Project and the Century South Silver -Zinc Project (see press release dated October 15, 2020 ), an

indirect 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory

and New South Wales, Australia prospective for nickel-cobalt-scandium and rare earth elements.

The Company holds a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property,

comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of

Quebec, covering 2,126 hectares (see press release dated F ebruary 3, 2021) and a 100% interest in

229 additional mineral exploration claims prospective for lithium, also in the James Bay area of Quebec

covering an area of 12,116 hectares or 121 square kms.

Investors can learn more about the Company and team at https://megawattmetals.com.

For further information: Kelvin Lee, Chief Financial Officer, [email protected], (236)521-

6500