Green Shift Signs MOU with Whitesand First Nation for the Armstrong Lithium Project in Ontario

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Green Shift Signs MOU with Whitesand First Nation for the

Armstrong Lithium Project in Ontario

Toronto, Ontario – October 10, 2023 – Green Shift Commodities Ltd. (TSXV: GCOM and OTCQB: GRCMF),

(“Green Shift”, “GCOM” or the “Company”) is pleased to announce that it has signed a Memorandum of

Understanding (“MOU”) with the Whitesand First Nation (“WFN”) in connection with the Armstrong Lithium project

(the “Armstrong Project”), located in the Seymour -Crescent-Falcon lithium belt, ~55 km northeast of the town of

Armstrong and ~245 km from Thunder Bay in Ontario, Canada. As previously disclosed, the Company has an option

to purchase a 100% interest in the Armstrong Project (see press release dated September 15, 2023 for information

on the Transaction, and press release dated August 16, 2023 for detailed information on the Project).

The MOU provides guidelines and a communication protocol between GCOM and WFN for initial exploration work.

It also prioritizes employment, traini ng, and business opportunities between GCOM and WFN, enabling strong

collaboration as the Armstrong Project is advanced toward an exploration permit. The MOU is for a three-year term.

With the MOU providing the green light to operate in the Armstrong Proj ect area, GCOM has commenced initial

groundwork with a mapping and sampling program consisting of 91 samples taken thus far.

Trumbull Fisher, CEO and Director of GCOM, commented, “We are honoured to collaborate with the Whitesand First

Nation to advance the Armstrong Project. Though our project is at an early stage, we understand the importance of

engaging WFN on their traditional territory. This MOU demonstrates our shared commitment to fostering meaningful

and open dialogue and ensuring that we are building a long-term, mutually beneficial relationship."

About Green Shift Commodities Ltd.

Green Shift Commodities Ltd. is focused on the exploration and development of commodities needed to help

decarbonize and meet net -zero goals. The Company is advancing a portfolio of lithium prospects which includes

the recently acquired Rio Negro Project in Argentina , a district-scale project in an area known to contain hard rock

lithium pegmatite occurrences that were first discovered in the 1960s with little exploration since, and the Armstrong

Project, located in the Seymour-Crescent-Falcon lithium belt in northern Ontario, known to host spodumene-bearing

lithium pegmatites and significant discoveries.

The Company is developing the Berlin Deposit in Colombia. Apart from uranium, for clean nuclear energy, the Berlin

Deposit contains battery commodities including nickel, phosphate, and vanadium. Phosphate is a key component

of lithium -ion ferro -phosphate (“LFP”) batteries that are being used by a g rowing list of electric vehicle

manufacturers. Nickel is a component of various lithium -ion batteries, while vanadium is the element used in

vanadium redox flow batteries. Neodymium, one of the rare earth elements contained within the Berlin Deposit, is

a key component of powerful magnets that are used to increase the efficiency of electric motors and in generators

in wind turbines.

For further information, please contact:

Green Shift Commodities Ltd.

Trumbull Fisher

Director and CEO

Email: [email protected]

Tel: (416) 917-5847

Website: www.greenshiftcommodities.com

Twitter: @greenshiftcom

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LinkedIn: https://www.linkedin.com/company/greenshiftcommodities/

Forward-Looking Statements

This news release includes certain “forward looking statements”. Forward-looking statements consist of statements

that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future,

and include, but not limited to, statements with respect to: anticipated collaboration with the WFN; planned exploration

work at the Company’s Armstrong Project; the future direction of the Company’s strategy; and other activities, events

or developments that are expected, anticipated or may occur in the future. These statements are based on

assumptions, including that: (i) the ability to achieve positive outcomes from test work; (ii) actual results of

exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be

positive and proceed as planned, (iii) requisite regulatory and governmental approvals will be received on a timely

basis on terms acceptable to Green Shift (iv) economic, political and industry market conditions will be favourable,

and (v) financial markets and the market for uranium, battery commodities and rare earth elements will continue to

strengthen. Such statements are subject to risks and uncertainties that may cause actual results, performance or

developments to differ materially from those contained in such statements, including, but not limited to: (1) changes

in general economic and financial market conditions, (2) changes in demand and prices for minerals, (3) the Company’s

ability to source commercially viable reactivation transactions and/or establish appropriate joint venture partnerships,

(4) litigation, regulatory, and legislative developments, dependence on regulatory approvals, and changes in

environmental compliance requirements, community support and the political and economic climate, (5) the inherent

uncertainties and speculative nature associated with exploration results, resource estimates, potential resource

growth, future metallurgical test results, changes in project parameters as plans evolve, (6) competitive

developments, (7) availability of future financing, (8) the effects of COVID -19 on the business of the Company,

including, without limitation, effects of COVID -19 on capital markets, commodity prices, lab our regulations, supply

chain disruptions and domestic and international travel restrictions, (9) exploration risks, and other factors beyond

the control of Green Shift including those factors set out in the “Risk Factors” in our Management Discussion

and Analysis dated August 23, 2023 for the three and six months ended June 30, 2023 and other public documents

available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such

information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such,

undue reliance should not be placed on forward-looking statements. Green Shift assumes no obligation to update

such information, except as may be required by law.

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

policies of the TSX Ven ture Exchange) accepts responsibility for the adequacy or accuracy of this press

release.