Spod Lithium Corp. Samples 1.5% LI20 at Niemi Pegmatite Project

SPOD LITHIUM CORP. SAMPLES 1.5% LI20 AT NIEMI PEGMATITE

PROJECT

Vancouver, B.C. – July 13, 2023 – SPOD LITHIUM CORP. (“SPOD” or the “ Company”)

(CSE: SPOD) (OTCQB:SPODF) has provided an update on the 2023 Phase I surface exploration

program for its 100% owned NORTH NIPIGON – NIEMI PROJECT in the Georgia Lake

Pegmatite Field, Ontario . Spod Lithium sampled 1.5 07% Li2O and continues to expand the

mineralized area on the Niemi Block near (MDI42E05SW00017). A new lithium bearing boulder

was also discovered on the north shore of Parole Lake, that returned 0.538% Li2O, approximately

100 m west of a boulder discovered in 2018 (Ontario Geological Survey AFRI 20000019444).

The Phase I program is designed to target spodumene bearing pegmatite bodies on our expansive

land package in the heart of the prolific Georgia Lake Pegmatite Field . The program cover s the

Niemi Block, North Nipigon Block A and North Nipigon Block C (Figure 1) . The program will

continue to evaluate the historically underexplored Block B, Block C and Block A east of Rock

Tech Lithium’s Georgia Lake deposit. Detailed mapping and sampling of the Parole Lake area will

also be prioritized to determine the source of the spodumene bearing boulders. A total of 107

surface grab samples have been collected to date and submitted to the Actlabs facility in Thunder

Bay, ON.

Chris Cooper, Spod Lithium’s CEO commented: “The North Nipigon - Niemi Project is beginning

to show its real potential with 1.5% Li 2O sampled on trend with Imagine Lithium’s Jackpot

Pegmatite and a new discovery of 0.54% Li2O in the Parole Lake area. Our bedrock stripping and

sampling program for the Niemi Pegmatite is scheduled to begin in August and will provide a

better understanding of the spodumene bearing pegmatite in this area . The discovery of a second

lithium bearing boulder 100 m from a historic showing in the Parole Lake area is encouraging and

our field crews are working to identify the source of the boulders. We will continue to focus on

the Parole Lake area, the underexplored Block B and the northern extend of Block A, east of Rock

Tech Lithium’s Georgia Lake Deposit.”

The North Nipigon – Niemi Project is underlain by Archean metasediments and granites, along

with Keweenawan age diabase. Pegmatites in the region occur close to and within the granitic

plutons. The Project is contiguous with RockTech Lithium’s Georgia Lake Project and Imagine

Lithium’s Jackpot Lithium Project. RockTech’s Project contains a NI43 -101 compliant indicated

resource of 10.6 Mt at 0.88% Li20 and a NI43-101 compliant inferred resource of 4.2 Mt of 1.00%

Li2O (MRE Source: Technical Report, NI 43 -101, Pre-Feasibility Study, Georgia Lake, effective

October 1, 2022). There are numerous other known pegmatite occurrences in the region as shown

in Figure 1.

Figure 1 shows the North Nipigon – Niemi Project with Rock Tech and Imagine Lithium’s developing

deposits.

Assay results have been returned for the first series of 107 surface grab samples collected from the

Project (Table 1). The Niemi Block continues to deliver lithium results on trend with Imagine

Lithium’s Jackpot Zone that returned 1.5% Li2O from sample 475539 (Table 1). This sample was

collected approximately 40 m south of sample 269006 which was collected during a site visit in

the fall of 2022 and returned 0.38% Li2O. Overburden stripping of this pegmatite is on schedule

to commence in the fall of 2023 (Figure 2).

Table 1 Summary of lithium results from the initial prospecting program on the property.

Sample Easting Northing Area Li (ppm) Li2O (%) Cs

(ppm)

Ta

(ppm)

Be

(ppm)

Ba

(ppm)

475539 434345 5461301 Niemi Pegmatite 7000 1.507 22.9 8.1 760 20

475550 433272 5473382 Parole Lake (AFRI

20000019444)

4020 0.866 87.3 25.2 126 15

475551 433272 5473382 Parole Lake (AFRI

20000019444) 1920 0.413 49.1 49 315 20

475577 433184 5473319 Parole Lake - New

Boulder

2500 0.538 97.2 23.4 13 141

Block A

Block C

Block B

Figure 2 shows the Niemi Project samples with Imagine Lithium’s Jackpot Project to the west.

The North Nipigon Block A prospecting program continues to develop a lithium target on the

northern edge of Parole Lake where confirmation sampling of a spodumene rich boulder returned

0.866% Li 2O and 0.413% Li 2O from sample 475550 and 475551, respectively (Table 1). This

boulder historically returned assay values of 0.764% Li 2O and 0.685% Li 2O during a 2018

sampling program (Ontario Geological Survey AFRI 20000019444). A second boulder was

discovered on the shore of Parole Lake, approximately 100 m to the west, and returned 0.538%

Li2O (Table 1). A detailed mapping and sampling program is planned for the north shore of Parole

Lake to determine the provenance of the lithium bearing pegmatite boulders (Figure 3).

Figure 3 shows North Nipigon Block A boulders on the north shore of Parole Lake.

JAMES BAY QUEBEC

The Company is eager to begin its planned exploration program on its Megali and Lithium Grande

4 projects. The recent restrictions imposed by the Quebec government, because of the regional

forest fire situation, is directly impacting exploration operation s, and, therefore, the company is

temporarily delayed in kicking off its surface exploration field activities until the situation

improves. The company is actively monitoring the situation to ensure all company activities are

compliant with respective governmental decrees and to ensure the safety of personnel associated

with the property. The company will provide further updates as information becomes available.

Qualified person

Jason Arnold, P.Geo., President of DCX Geological Consulting and an independ ent Qualified

Person as such term is defined by National Instrument 43 -101 - Standards of Disclosure for

Mineral Projects, has reviewed and approved the geological information reported in this news

release. The Qualified Person has not completed sufficient work to verify the historic information

on the Property and in the vicinity, particularly regarding historical drill results, historical mine

production and historical grab samples.

However, the Qualified Person believes that these results were completed to industry standard

practices. The information provides an indication of the exploration potenti al of the Property but

may not be representative of expected results. Also, mineralization hosted on adjacent and/or

nearby properties, particularly with respect to neighbouring mineral resources, is not necessarily

indicative of mineralization hosted on the Company's property. 

About Spod Lithium Corp.

Spod Lithium Corp. is a mineral exploration company focused on the acquisition and development

of mineral properties containing battery, base, and precious metals. The Company’s flagship assets

are its Lithium properties located in the James Bay region of Quebec and the Nipigon and Niemi

region of Ontario , Canada. For further information, please refer to the Company's disclosure

record on SEDAR ( www.sedar.com) or contact the Company through its website at

www.spodlithiumcorp.com or by telephone at 604.721-3000.

On Behalf of the Board of Directors

Chris Cooper

Chief Executive Officer

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