Megawatt Announces Settlement of Debt by Issuance of Shares

Vancouver, British Columbia, February 25, 2025 -- MegaWatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company", "MegaWatt Metals" or “MegaWatt”) announces, further to its news release of February 18, 2025, that the Company has issued 766,667 common shares in the capital of the Company (the “Shares”) at a deemed price of $0.015 per Share to an arm’s length creditor for settlement of debts in an aggregate amount of $11,500 (the “Shares for Debt Settlement”).

All the Shares issued in connection with the Shares for Debt Settlement are subject to a statutory hold period of four months plus a day ending on June 21, 2025 in accordance with applicable securities legislation.

About MegaWatt Lithium and Battery Metals Corp.

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

MegaWatt has acquired a 100% interest in a company that holds a 100% interest (subject to a 1.5% NSR) in the Benedict Mountains Uranium Property, consisting of 2 mineral licenses covering an area of approximately 350 hectares in the Central Mineral Belt on the east coast of Labrador, Canada, approximately 200 km NE of Goose Bay (see press release dated April 1, 2024).

MegaWatt 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 8 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 the Tyr Silver Project (see press release dated October 15, 2020).

MegaWatt 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 February 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.

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On Behalf of the Board of Directors,

MegaWatt Lithium and Battery Metals Corp.

Casey Forward, CEO

1055 West Georgia Street, Suite 1500 Vancouver, BC, Canada V7X 1M5

For Further Information Please Contact:

Kelvin Lee, Chief Financial Officer [email protected], (236) 521-6500

The CSE does not accept responsibility for the adequacy or accuracy of this release.