Edison Lithium Arranges Sale of Majority Stake in Argentinian Lithium Properties for US$5 Million

Edison Lithium Arranges Sale of Majority Stake in Argentinian Lithium

Properties for US$5 Million

Vancouver, British Columbia, December 19, 2023 – Edison Lithium Corp. (TSXV: EDDY, OTCQB:

EDDYF; FSE: VV0) (“Edison” or the “Company”) is pleased to announce that it has entered into a letter of

intent dated December 18, 2023 (the “LOI”) with Meteor Energy, LLC (“Meteor”), an energy corporation

based in Dallas, Texas, for the sale of 100% of the Company’s interest in its Argentina subsidiary, Resource

Ventures S.A. (“ReVe”), in consideration for USD$5,000,000. Prior to the sale, ReVe will have first rolled out

and retained the Pipanaco claims and one of the LEXI claims to be retained in a new subsidiary, as further

described below. Pursuant to the LOI, the parties agreed to use commercially reasonable efforts to enter into a

definitive agreement within 60 days to give effect to this transaction on terms and conditions acceptable to both

parties.

ReVe controls the rights to prospective lithium brine claims in the province of Catamarca, Argentina. The claims

are principally located in the two geologic basins known as the Antofalla Salar and the Pipanaco Salar. ReVe’s

assets on closing of the disposition to Meteor will include 29 mining concessions covering approximately 105,699

hectares area in Catamarca Province, Argentina. The Company will retain and focus its Argentinian efforts on 8

mining concessions covering approximately 28,766 hectares area in Catamarca Province, Argentina, which are

not subject to the sale and amount to approximately 20% of the claims currently held by ReVe. The sale terms

included Meteor paying the Company USD$25,000 on signing of the LOI, with further payment s of

USD$475,000 and USD$4,500,000 payable by Meteor to the Company upon execution of a definitive agreement

and the closing of the disposition, respectively.

Nathan Rotstein, Edison’s CEO, commented, “This transaction validates our purchase of the entire ReVe property

package two and half years ago for $1,250,000 and puts Edison into a strong cash position to assess other

opportunities. We are very pleased with how we will be positioned after closing the transaction.”

The LOI contemplates a 60 day due diligence period prior to execution of the definitive agreement during which

Meteor will conduct standard due diligence on ReVe and the mining claims subject to this sale. Completion of

the disposition contemplated by the LOI remains subject to the satisfactory completion of due diligence, the

negotiation and execution of a definitive agreement and approvals from the TSX Venture Exchange (“TSXV”)

and shareholders of the Company, if required. The Company and Meteor are at arms-length, and no finders’ fees

or commissions are payable in connection with completion of the sale contemplated by the LOI.

About Edison Lithium Corp.

Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement,

exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company’s

acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in

areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying

critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from

the renewed interest in the battery metals space.

On behalf of the Board of Directors:

“Nathan Rotstein”

Nathan Rotstein

Chief Executive Officer and Director

For more information please contact:

Tel: 416-526-3217

Email: [email protected]

Website: www.edisonlithium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements

that are not historical facts, including statements about Edison’s beliefs and expectations, are forward- looking

statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could

cause actual results to differ materially from those contained in any forward-looking statement. In some cases,

forward-looking statements can be identified by words or phrases such as “may,” “will,” “will be”, “expect,”

“anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”, “proposes”,

“contemplates”, “is/are likely to” or other similar expressions. All information provided in this news release

is as of the date of this news, and the Company undertakes no duty to update such information, except as

required under applicable law.

Forward-looking statements in this press release relate to, among other things: the completion of the

disposition, the negotiation and signing of the definitive agreement , the receipt of all required TSXV

approvals for the disposition, the Company retaining and focusing on certain claims currently held by ReVe,

the Company first rolling out and retaining the Pipanaco claims and one of the LEXI claims , the closing of

the transaction and the Company having a strong cash position thereafter and the payment of the purchase

price. Actual future results may differ materially. There can be no assurance that such statements will prove

to be accurate, and actual results and future events could differ materially from those anticipated in such

statements. Forward-looking statements reflect the beliefs, opinions and projections of management on the

date the statements are made and are based upon a number of assumptions and estimates that, while considered

reasonable by the respective parties, are inherently subject to significant business, economic, competitive,

political and social uncertainties and contingencies. Many factors, both known and unknown, could cause

actual results, performance or achievements to be materially different from the results, performance or

achievements that are or may be expressed or implied by such forward -looking statements and the parties

have made assumptions a nd estimates based on or related to many of t hese factors. Such factors include,

without limitation: determination of acceptable terms for the proposed definitive agreement, receipt of all

required TSXV and any shareholder approvals required for the disposition, and payment of purchase price.

Readers should not place undue reliance on the forward-looking statements and information contained in this

news release concerning these times. Except as required by law, the Company does not assume any obligation

to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they

change, except as required by law.