Frontier Lithium and Hanwha Sign Memorandum of Understanding to Explore Strategic Cooperation Across the Lithium Value Chain

FRONTIER LITHIUM AND HANWHA SIGN

MEMORANDUM OF UNDERSTANDING TO

EXPLORE STRATEGIC COOPERATION

ACROSS THE LITHIUM VALUE CHAIN

GREATER SUDBURY, ON

,

June 10, 2026

/CNW/ - Frontier Lithium Inc. ("Frontier") announces that

it has entered into a non-binding memorandum of understanding (the "MoU") with Hanwha

Corporation and Hanwha Ocean Co., Ltd. (collectively, "Hanwha") to establish a framework for

evaluating potential cooperation across the lithium value chain.

Representatives from Hanwha Corp. and Hanwha Ocean Co., Ltd. recently visited Frontier Lithium’s

headquarters in Greater Sudbury, where executives from Frontier Lithium, Mitsubishi Corp., and

Hanwha gathered to mark the signing of the Memorandum of Understanding. Pictured from left to

right: Tomotaka Kawabata, Susumu Okabe, Byeong Joong Kim, Woo-young (Steve) Chang, Trevor

Walker, Erick Underwood, Greg Da Re, Takahiro Kume.

Under the MoU, the parties will evaluate opportunities related to the potential supply and purchase of

lithium products, including battery-grade lithium products from Frontier's proposed integrated lithium

operations in Ontario. The parties will also explore broader strategic, technical, and commercial

cooperation opportunities, including potential strategic investment and project-level financing, in

support of developing secure and regionally integrated critical mineral supply chains.

The MoU contemplates further discussions regarding potential long-term commercial arrangements,

including possible offtake by Hanwha and/or its affiliates, subject to due diligence, internal approvals,

and the negotiation of definitive agreements.

The engagement reflects Hanwha's broader interest in Canadian industrial partnerships, including its

participation in the Canadian Patrol Submarine Project (CPSP) procurement process. In this context,

and in support of broader Canadian industrial engagement, strategic critical mineral collaboration,

and long-term supply chain participation associated with CPSP, Hanwha is reviewing potential

cooperation opportunities with Canadian counterparties, including Frontier whose strategy is aligned

with these objectives.

"This Memorandum of Understanding establishes a framework for continued dialogue as we evaluate

areas of potential collaboration," said Trevor Walker, President and Chief Executive Officer of

Frontier Lithium. "Frontier's integrated mine-to-chemical strategy is designed to provide a reliable

North American source of battery-grade lithium products, and we believe there is a strong alignment

between our development plans and Hanwha's long-term requirements for advanced battery

materials."

Jung Hoon Choi, Executive Vice President, Naval Ship Global Strategy Department of Hanwha

Ocean, added: "Hanwha recognizes the growing strategic importance of secure and sustainable

lithium supply chains for advanced technologies and energy storage applications. Through this

Memorandum of Understanding, we look forward to evaluating opportunities with Frontier

Lithium and its partners related to lithium supply, project development, and broader industrial

cooperation."

As countries seek to strengthen domestic and allied supply chains for critical minerals, lithium

has emerged as a strategic material supporting energy security, advanced manufacturing, and

national security objectives. The increasing deployment of lithium-ion battery systems across

transportation, industrial, energy storage, maritime, and defence applications underscores the

importance of establishing reliable North American sources of lithium chemicals and battery

materials.

The MoU is non-binding and provides a framework for further discussions between the parties. Any

future commercial arrangements, investment commitments, financing support, or offtake agreements

would be subject to satisfactory due diligence, negotiation of definitive agreements, and applicable

corporate and regulatory approvals.

ON BEHALF OF THE BOARD OF DIRECTORS

Trevor Walker,

President and Chief Executive Officer

About Frontier Lithium

Frontier Lithium Inc. is a pre-production mining company with an objective to become a strategic and

integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the

growing electric vehicle, and energy storage markets in North America. The Company's PAK Lithium

Project maintains the largest land position and resource in a premium lithium mineral

district located in Ontario's Great Lakes region.

About Hanwha Group

Hanwha is South Korea's fifth-largest business group, with innovative businesses in aerospace &

defense, mechatronics, energy & maritime solutions, finance, and retail & services. As a

multinational company with a robust global network of affiliates, Hanwha designs, builds, and

operates foundational systems that secure societies, strengthen industries, and drive future

resilience. Through continuous investment in technology, talent, and trusted partnerships, Hanwha

delivers integrated solutions that enable sustainable growth and create long-term value for industries

and communities.

About Hanwha Ocean

Hanwha Ocean is a leading global shipbuilder with more than four decades of experience in complex

naval and commercial shipbuilding programs. Supported by its large-scale, integrated shipyard in

Geoje, South Korea that spans 5-square kilometers and has more than 31,000 employees, the

company combines proven industrial capacity with operational experience to deliver modern, in-

service naval platforms backed by a resilient through-life support model. Since its establishment in

1973, Hanwha Ocean has delivered more than 1,400 vessels worldwide and has built deep expertise

in the design, construction and sustainment of submarines and surface combatants for the Republic

of Korea Navy. The company builds approximately 45 commercial and naval ships each year.

About the KSS-III Canadian Patrol Submarine

 (

www.KSS-III.ca

)

Hanwha Ocean's KSS-III is a proven, in-service, in-active production submarine that fully meets and

exceeds all requirements for the Canadian Patrol Submarine Project (CPSP). These include superior

underwater surveillance capability and deployability in the Arctic with extended range and endurance

that will provide stealth, persistence and lethality to ensure that Canada can detect, track, deter and,

if necessary, defeat adversaries in all 3 of its oceans.

Importantly, Hanwha Ocean has the fastest delivery schedule, able to deliver four KSS-III

submarines to fully replace Canada's current Victoria Class fleet before 2035 if on contract in 2026.

Earlier retirement of the Victoria Class fleet will result in estimated savings of approximately $1

Billion on maintenance and support costs. The additional 8 submarines will be delivered at a rate of

one per year, meaning the entire fleet of 12 submarines will be delivered to Canada by 2043. No

other option can come anywhere close to this delivery schedule.

Cautionary Note

Regarding

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements."

All statements in this release, other than statements of historical fact constitute forward-looking

statements. Forward-looking statements in this news release include, but are not limited to,

statements regarding: the Company's projects including the targeted timing for mine and mill

construction; conversion facility, project planning, development sequencing, and execution strategy;

the Company's ability to advance permitting, infrastructure development, financing strategies,

downstream integration, joint venture funding arrangements, and the ongoing MoU with Hanwa for

strategic collaboration.

Forward-looking statements involve inherent risks and uncertainties. Risk factors that could cause

actual results to differ materially from those in forward looking statements include: market prices for

commodities, increases in capital or operating costs, construction risks, availability of infrastructure

including roads, regulatory and permitting risks, exploitation and exploration successes, continued

availability of capital and financing, financing costs, and general economic, market or business

conditions. Investors are cautioned that any such statements are not guarantees of future

performance and those actual results or developments may differ materially from those projected in

the forward-looking statements. For more information on the Company, please review the

Company's public filings available at

www.sedarplus.ca

.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy

or accuracy of this release.

SOURCE Frontier Lithium Inc.

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%SEDAR: 00008434E

For further information:

Company Contact Information: Bora Ugurgel, MBA, CPIR, Senior

Manager, Investor Relations, 2614 Belisle Drive, Val Caron, Greater Sudbury, Ontario, P3N 1B3

CANADA, T. +001 705.897.7622, F. +001 705.897.7618

CO: Frontier Lithium Inc.

CNW 09:00e 10-JUN-26