South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBD), is pleased to announce that it has finalized the agreement for the land purchase required for construction of the Phase 1 mine and plant facilities as well as the first two to three years of operations at its Santa Cruz Graphite Project in Bahia, Brazil.

In addition, South Star has submitted the Planned Economic Analysis ("PAE") and the request for the final mining license ("concessão de lavra") to the Brazilian Mining Authority ("ANM") on August 1 st , 2022 for the Claim 872.737/2010, which is where the Phase 1 facilities are currently being installed. The proposed PAE doubles the Santa Cruz production capacity presented in the previously released PFS (March 2020) and incorporates a third phase of project development. The planned production schedule follows:

In February of 2022 (See Press Releases from February 9 th and 24 th ) the final exploration reports for all of the Company's 13 claims were approved by the ANM. The approval of the PAE and mining license is the final step in securing the LOM mining license for each of the exploration claims and converting them to mining concessions. The Company plans to submit the PAE and the request for the final mining license for 4 additional claims in the next 10 days and all the remaining claims by the end of the year. The environmental field work for the 3 phased production schedule is scheduled to begin in Q3 of 2022, and the Company intends to submit all the environmental documents for review and comment by Q1 of 2023.

Phase 1 operations are fully licensed with a trial mining license ("GU") and associated environmental license. South Star has paid the municipal building permit for construction of the Phase 1 plant, mine and infrastructure, and the Company anticipates the permit should be issued by Itabela shortly.

Richard Pearce, CEO of South Star, said, "The initial land purchase agreement for Phase 1 operations of approximately 325 hectares has been finalized and registered at title office so that all the Phase 1 operations will be on our own property. It is always advantageous to have the mine and facilities under our direct control. We submitted the PAE incorporating a third phase doubling the production to 50,000 tpy and adding future operational flexibility. We plan on submitting all the PAEs by the end of 2022 and will work towards having the mining licenses and environmental permits for the 5-7 priority claims approved around the time we are commissioning our Phase 1 facilities in mid 2023. This will allow us to advance quickly with Phase 2/3 financing alternatives. The municipal building permit is the final approval we need to start the Phase 1 construction. The permit fee was paid, and we anticipate the approval in short order. We continue to execute our business plan in a disciplined, responsible manner on our march to being the first new graphite production in the Americas. Site preparation, grading and earthworks, as well as security installations, roads and other infrastructure will be the first order of business. I'd like to thank the mayor and his team from Itabela for continued support of South Star, and we look forward to beginning Phase 1 commercial production in mid-2023."

ABOUT South Star Battery Metals CORP

South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q3 2023.

South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .

This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.

On behalf of the Board,

Mr. Richard Pearce Chief Executive Officer For additional information, please contact:

South Star Investor Relations (Canada IR) Email: invest@southstarbatterymetals.com +1 (604) 706-0212 x3002

RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com

Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube

Neither the 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 press release.

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

News Provided by GlobeNewswire via QuoteMedia

The green energy industry is booming. Unprecedented positive trends seen year after year present junior mining companies with exceptional growth potential as vital minerals like graphite and lithium needed to power alternative energies surge in demand.

Market research estimates that worldwide graphite output needs to increase by nearly 500 percent by 2050 in order to meet growing demand for energy storage. If you are an investor looking for exposure in this market, there is not better time to invest

South Star Mining (TSXV:STS,OTCQB:STSBF) is set to contribute to filling this global graphite demand. It currently operates its flagship Santa Cruz graphite project in the mining-friendly jurisdiction of Brazil. The project is nearing construction and is slated for the first production in 2022.

“This is a production story, it’s not something that’s going to take years to come to life. We have 12 months of construction and commissioning already scheduled,” stated South Star CEO Richard Pearce.

The company operates in what is arguably the best region worldwide to be developing a new graphite project. Brazil currently produces upwards of 90,000 tonnes of graphite on an annual basis and has a significant internal demand for the product, which advantageously positions South Star as a first mover in the South American graphite production space. More than that, once in production, South Star will become the first new graphite producer in the Americas in a decade.

The flagship Santa Cruz graphite project sits in the second largest flake graphite producing district in the world. This robust project hosts the perfect storm of large flake ore mineralization and production quality concentrates of over 95 percent purity.

South Star has been quick to advance its flagship asset for production readiness. In October 2020, the Phase 1 environmental permit was approved, and in December 2020, South Star released exciting news that it received the mining permit for its 5,000 tonnes per year (tpy) Phase 1 pilot plant. Permitting and licensing for Phase 2 operations are already underway and documents will be submitted in December 2021.

Phase 1 development projections for Q4 2022 position the company for its larger-scale concentration plant. This should advance the Phase 2 schedule by approximately 12 months.

The company plans to continue its development plans towards Phase 1 production in Q4 2022. Leveraging the rapidly growing graphite demand and positive market outlook, South Star aims to become a significant producer in the battery metals space.

South Star projects it will be ready for commercial production in late 2022. Since its conception, South Star has been quick to begin constructing and commissioning the necessary infrastructure and parameters for production. The company intends to start small and scale up operations in a well-engineered multi-phase plan to control risks.

In recent news, South Star Mining is providing disclosure regarding the security package regarding the $US28 million streaming agreement with Sprott for the Santa Cruz Graphite Project in Brazil. South Star Graphite Canada, discloses that, per the promissory note, the company’s obligations are guaranteed. This is limited to certain collateral subject to the initial share pledges. The funding agreement is further guaranteed by SSGCC, Brasil Graphite, and Brazil Grafite Mineração.

South Star Mining’s management team includes experienced mining heavyweights, mine builders and operators. The unparalleled local expertise, proven track records of success and vested interest in company success prime South Star for exceptional growth and project achievements.

The Santa Cruz graphite project consists of 13 approved exploration licenses covering approximately 13,000 hectares in the Bahia State of Brazil, the second largest flake graphite producing district in the world.

Extensive development has been completed to date on the property, including over 7,000 metres of drilling and a successful pilot plant test on over 30 tonnes of mineralized material. In 2017, the South Star completed a PEA technical report for the project that indicated resources of 14,990,400 tonnes at 2.70 percent graphite and inferred resources of 3,572,100 tonnes at 2.90 percent graphite. An NI 43-101 PFS and updated resource estimate have also been completed.

Phase 1 operations included a 5,000tpy fully licensed pilot plant. Phase 2 operations represent a larger scale concentration plant with 25,000 tonnes per year planned production scalability and environmental work program scheduled. The company plans to continue its development plans towards Phase 1 production in Q4 2022.

South Star Mining recently received a streaming agreement through Sprott, worth up to $US28 million to further pursue this project. On May 18, 2022, South Star commenced its groundbreaking start of Phase 1 construction.

The property hosts sizable geologic upside, with 95 per cent of the project unexplored. After financing, South Star intends on developing the project’s 10 to 15 drill targets and marketability of Santa Cruz’s high purity flake production.

South Star Mining identified a project on the northeast end of the Alabama Graphite Belt. The property covers approximately 500 acres, positioned in Coosa County. It’s a historic mine, active during both of the World Wars. Historically, the Ceylon Graphite mine targeted outcropping graphite mineralization, with an average between three and five percent carbon. The mineralization is at the surface, where the graphite host was originally mined with shovels and excavators. This shows potential upside for modern mining approaches.

South Star is preparing for its first phase exploration, with initial work including RC drilling to further define the extent and structure of the deposit. It will be combined with additional field mapping and surface sampling. This first phase is tentatively scheduled to begin early in 2022.

Subsequent phases will include diamond core drilling, bench and pilot scale metallurgy, preliminary resource estimation and engineering. South Star will also continue to expand and develop the excellent relationships with the community, as well as with local, state and federal agencies, originally established by the Charge Minerals’ team.

The Alabama Graphite Project recently received results from a regional-scale and local geologic and structural mapping and sampling program. It showed over 29 trenches, totalling 2,769 linear meters, dug to a two-meter depth. The results resulted in upwards of 765 samples, plus standards and duplicates, being analyzed. The GIRCU Laboratory in Guangzhou, China tested 10 representative samples. It indicated a crush-grind-flotation concentration of 96 to 97 percent, with recoveries of approximately 86 percent. The study described the ore as well-liberated and easy to process.

Richard Pearce is an entrepreneur and founding partner with over 20 years of experience in planning and managing complex operations throughout the Americas. He has been based in Brazil since 2008 and worked throughout the country. He has a wide range of consulting and advisory experience including technical services, project & asset development, corporate advisory services, business administration and incorporation services, deal origination, mergers and acquisitions advisory, construction, and operations. He is based out of São Paulo, Brazil and is a native speaker of English, as well as fluent in Portuguese and Spanish. Country experience includes Canada, the US, and most countries throughout Latin America. He is passionate about supporting companies and helping them grow and explore the Brazilian markets. He is also a qualified person (QP) as defined by NI 43-101.

Marc Leduc is a mining engineer and geologist with over 30 years of experience involving all aspects of the development, operations, planning, and evaluation of mining projects including over 20 years in Latin America. Leduc served as the President and CEO of Luna Gold, operator of the Aurizona mine in Brazil, from 2015 to 2016. He holds a bachelor’s of science in mining engineering, with honours, from Queen’s University and a bachelor’s of science in Geology from the University of Ottawa.

Bennett Liu joins South Star from Red Fern Consulting, a full-service accounting group that provides financial and support services for public companies including accounting, regulatory compliance, audit management, and financial reporting. Liu has served as chief financial officer for multiple publicly traded companies, including TSXV- and CSE-listed enterprises, with a focus on the resource sector. He received his bachelor’s of technology in accounting degree from the British Columbia Institute of Technology.

Eric Allison has over 36 years of experience in the natural resource industry, working in technical, business, project development, and management roles. He formerly served as CEO and COO of Brazahav Resources, a private entity developing a brownfield gold mine project in Brazil. Previously, he was the director of research and chief geologist at Casimir Capital, specializing in junior mining companies and served as the director of business development at Sempra Commodities. Over his career, Allison has also served in various roles for Cyprus Amax Minerals, Amax Energy, SPG Exploration, and Texaco. He has served on the boards of several private and public companies.

Felipe Holzhacker Alves is a professional mining engineer with a master’s degree in political economics of resources from the Colorado School of Mines. He is a Brazilian native who combines international capital markets experience with an extensive local network of governmental and regulatory agencies, resource financiers, and technical, legal, and tax consulting services. Alves is the founder and CEO of Frontera Minerals, a Brazil-focused exploration and project development company. He previously held various roles at Rand Merchant Bank, where he was mainly responsible for Latin American Investments. His technical experience includes roles at open pit and underground mines. He is currently a board member of Trek Mining and the president of Brazilian Commission for Resources and Reserves (CBR), Brazil´s equivalent to NI 43-101 in Canada.

Daniel Wilton has 25 years of experience in mergers and acquisitions, corporate finance, and principal investing in the mining sector. He was most recently a partner at Pacific Road Capital Management, a mining-focused private equity investment firm with approximately C$800 million under management. At Pacific Road, Wilton reviewed a number of projects in Brazil, led the investment in Luna Gold, now Equinox Gold, and financed the development of the Aurizona gold project through critical pre-feasibility and permitting activities. Prior to joining Pacific Road, his roles included managing director and head of the Global Mining and Metals Group at National Bank Financial and other corporate finance and mergers and acquisitions roles at global institutions based in London, Toronto, and New York.

Julio Da Silva is a mechanical engineer and project manager with over 22 years of experience in the mining and mineral resource sector in Brazil. His expertise includes operations, maintenance, engineering, construction, open-pit mining, metallurgy, placing plants on care and maintenance, mine start-up, quality assurance and control, inventory controls, security, logistics, and the general operations of mine management. He has held various senior management positions at Mineração Morro Verde, Luna/Trek, Yamana, and Aura Minerals. He has degrees in mechanical engineering and project management and is a native Portuguese speaker with intermediate English.

Marcia Cota is a finance professional with more than 20 years of experience in controls, treasury, finance, data analysis, ERP implementation, tax, audits, cash flow management, logistics, budgeting, and forecasting. She has held several senior management positions in Brazil and overseas with Net Brasil, W Torre, Genea Angola, Locar Guindastes e Transportes, and Mineração Morro Verde. She has a master’s of business administration with a specialization in advanced finance analysis. She is a native speaker in Portuguese and fluent in English.

Antonio Assis has over 30 years of sales and marketing experience, with much of that time spent in the natural flake and synthetic graphite markets. He has a long, successful career and has held various senior sales, marketing, and business development positions with Syrah Resources, Nacional de Grafite, Technografit, and Grupo Unimetal. Throughout his career he has worked on overseeing sales teams, creating marketing plans to increase exposure and sales, and developing extensive commercial relationships in the industrial and value-add graphite markets in more than 50 countries around the world. His expertise includes prospecting, sales, marketing, customer relations, technical performance, customer support, contracts, and negotiations. He has degrees in business administration as well as marketing and sales, in addition to being fluent in Portuguese, English, and Spanish.

Castro is a mechanical engineer with over 25 years of engineering, design, construction, and project management experience, with most of that expertise focused in the mining and mineral resource space in Brazil. Castro has been involved with large construction projects with CAPEX of over US$100M, as well as overseeing large teams associated with EPCM projects. He has held various senior project management positions with Lyon Engineering, Beadell, Luna, and Ausenco. He has degrees in mechanical engineering, business administration for engineers, and workplace safety engineering. Castro is native Portuguese speaker and fluent in English.

Luciano Lazaro is an experienced supply chain manager with more than 30 years of experience with supply chain, procurement, logistics, COMEX, contracts, and planning and controls. He has held several senior positions with Vale, Ericsson Telecommunications, Brazilian Pipeline Carriers, Anglo Ferrous, Aura Minerals, Ferrous Resources, Luna, and Mineração Morro Verde. He has degrees in economic sciences, urban and regional planning as well as project management. He is a native speaker of Portuguese and fluent in English.

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it has completed a non-brokered private placement of units (the "Private Placement" or the "Offering") for total proceeds of C$1,906,990. The majority of participation in the Private Placement was with key institutional investors and insiders. Net proceeds from the Private Placement will be used for advanced materials sample preparation, commercial agreements, project finance and general working capital requirements for the Company.

The Private Placement consists of 3,467,254 units priced at post-consolidation price of C$0.55 per unit (the "Units"). Each Unit consists of one (1) common share and one (1) common share purchase warrant (the "Warrants"). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of C$1.25 per common share for a period of five years from the date of issue. The securities are subject to a four-month hold period from the date of closing and approval by the TSXV, expiring October 24, 2022.The Company issued an aggregate of 1,636 finders' warrants in connection with the Private Placement (equal to 6% of the number of Units sold to subscribers introduced to the Company by the finders) and $54,300 in cash finders' fees were paid to certain finders (equal to 6% of the gross proceeds of the offering sold to subscribers introduced to the Company by the finders).

If during a period of ten consecutive trading days between the date that is four (4) months following the closing of the Private Placement and the expiry of the Warrants the daily volume weighted average trading price of the common shares of the Company on the TSXV (or such other stock exchange where the majority of the trading volume occurs) exceeds C$2.50 on a post-Consolidation basis for each of those ten consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants. Any Warrants which remain unexercised at 4:00 p.m. (Vancouver time) on the 30th day following the giving of such notice will expire at that time.

Two directors, including a member of management, and one officer of the Company subscribed in the private placement for an aggregate of 1,071,817 units for gross proceeds of $589,500. Each transaction with the directors and officer constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions under section 5.5(a) and section 5.7(1)(b) from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the transaction, insofar as it involves related parties, does not exceed 25% of the Company's market capitalization (as determined under MI 61-101). The Company did not file a material change report at least 21 days before the closing of the private placement as the details of the private placement and the participation therein by related parties of the Company were not settled until shortly prior to closing and the Company wished to close on a expedited basis for sound business reasons.

ABOUT South Star Battery Metals CORP

South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.

South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .

This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.

On behalf of the Board,

Mr. Richard Pearce Chief Executive Officer

For additional information, please contact:

South Star Investor Relations (Canada IR)

RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com

Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube

Neither the 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 press release.

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

News Provided by GlobeNewswire via QuoteMedia

South Star Battery Metals Corp. (" South Star " or the " Company ") (TSXV: STS) (OTCQB: STSBF) announces that it is proceeding with its previously announced share consolidation on the basis of five (5) pre-consolidation common shares for one (1) new post-consolidation common share (the " Consolidation "). Effective at market open on Wednesday, June 22, 2022, the Company's common shares will commence trading on a post-consolidation basis. The Company's name and trading symbol will remain unchanged.

The Consolidation will reduce the number of common shares issued and outstanding from 102,533,520 to approximately 20,506,704 common shares after rounding adjustments. No fractional common shares will be issued as a result of the Consolidation. All fractional shares resulting from the Consolidation will be rounded down to the nearest whole number and the fractional share will be cancelled.

Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-consolidation common shares for new share certificates or Direct Registration System (DRS) advice statements representing post-consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the Consolidation.

ABOUT South Star Battery Metals CORP

South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.

South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .

On behalf of the Board,

Mr. Richard Pearce Chief Executive Officer

For additional information, please contact:

South Star Investor Relations (Canada IR) Email: invest@southstarbatterymetals.com

RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com

Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube

Neither the 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 press release.

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: the Consolidation, moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

News Provided by GlobeNewswire via QuoteMedia

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is announcing that it is repricing the previously announced (May 19, 2022) non-brokered private placement of units (the "Private Placement" or the "Offering") to raise approximately C$2,000,000 in order to better reflect the current market conditions for common shares of the Company. On a pre-consolidation basis, the Offering will be repriced from C$0.15 per unit (the "Units") to C$0.11 per unit and consist of approximately 18,181,818 Units. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of C$0.25 per common share for a period of five years from the date of issue.

All other terms and conditions of the Offering remain unchanged. The closing of the Offering is subject to customary conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the "TSXV"). The Company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities will be subject to a four-month hold period from the date of closing. The Private Placement is subject to a 25% over-allotment option and to an acceleration clause. See below for further details.

Common Shares issued pursuant to the Private Placement will be issued on a post-Consolidation basis. The Warrants issued in the Consolidation will be issued on a post-Consolidation basis, and upon the completion of the Consolidation will automatically be adjusted to the post-Consolidation terms disclosed above (five pre-Consolidation Warrants will entitle the holder to acquire one post-Consolidation Warrant at a price of $1.25).

If during a period of ten consecutive trading days between the date that is four (4) months following the closing of the Private Placement and the expiry of the Warrants the daily volume weighted average trading price of the common shares of the Company on the TSXV (or such other stock exchange where the majority of the trading volume occurs) exceeds C$0.50 on a pre-Consolidation basis for each of those ten consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants. Any Warrants which remain unexercised at 4:00 p.m. (Vancouver time) on the 30th day following the giving of such notice will expire at that time.

ABOUT South Star Battery Metals CORP

South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.

South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .

This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.

On behalf of the Board,

Mr. Richard Pearce Chief Executive Officer

For additional information, please contact:

South Star Investor Relations (Canada IR) Email: invest@southstarbatterymetals.com

RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com

Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube

Neither the 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 press release.

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

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South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce the signing of a Letter of Intent ("LOI") with Graphex Technologies, LLC ("Graphex") to jointly develop a manufacturing and processing facility for battery anode material. The parties intend to develop a definitive agreement by October 31, 2022 to share expertise and technology for the design, construction and operations of a battery anode material processing facility. Graphite feed stock is expected to be provided by South Star's Santa Cruz Graphite Mine in Brazil and Ceylon Graphite Mine in the United States. The goals of the joint venture are to have a centrally located, vertically integrated supply chain for active battery anode and value-added materials supplied by two high-quality, scalable graphite operations in two strategic and stable jurisdictions in the Americas. The Companies previously announced a LOI to pursue a binding 5-year offtake agreement (March 24 th 2022)

Richard Pearce, CEO of South Star, said, "We are breaking ground on Santa Cruz Graphite Mine in June, 2022 and have commercial production planned for Q2 of 2023. The Ceylon Project in Alabama is advancing well, and we are starting metallurgy and battery testing programs. We are pleased to be further developing a long-term, strategic relationship with Graphex at a critical moment in the energy transition revolution. Graphex has been producing and selling high-quality battery anode material for a long time, and similar to us, looking to expand operations in the US. South Star believes that the only way to meet the growing demand is for experienced companies to develop strategic partnerships that accelerate the vertically integrated production of high-quality products that can be consistently delivered in a responsible and profitable manner. This partnership will benefit both parties and allow us to quickly deliver critical battery anode and other value add materials for clients in strategic locations around the world. Reliable, secure supply chains are the key to the world's ability to execute on the exciting energy transition revolution underway, and South Star is pleased to be part of this paradigm shift."

John DeMaio, CEO of Graphex Technologies said, "We look forward to collaborating with South Star to explore the exciting prospects of diversifying the upstream supply of graphite to the global EV ecosystem. The volume, quality, and stability of supply from their assets in Brazil and the U.S. coupled with our proven expertise in delivering high-volume, high-quality anode material would have significant positive impact on the industry's ability to meet production projections for EVs in the coming years and decades."

ABOUT South Star Battery Metals CORP

South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.

South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis, and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. and South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .

This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.

On behalf of the Board,

Mr. Richard Pearce Chief Executive Officer

For additional information, please contact:

South Star Investor Relations (Canada IR) +1 (604) 706-0212 x3002 Email: invest@southstarbatterymetals.com

RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com

Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube

Neither the 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 press release.

This news release and the Updated Technical Report contain references to inferred resources. The Report is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; how the obligations under the Agreement will be further guaranteed and secured; and the Company's plans and expectations.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

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South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it intends to complete a non-brokered private placement of units (the "Private Placement" or the "Offering") to raise approximately C$2,000,000. Concurrently, the Company plans to consolidate its common shares on the basis of one (1) post-consolidation common share for every five (5) pre-consolidation common shares (the "Consolidation"). The closing of the Offering and the Consolidation are subject to customary conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the " T SXV").

The Private Placement on a pre-Consolidation basis will consist of approximately 13,333,333 units priced at C$0.15 per unit (the "Units"). Each Unit will consist of one (1) common share and one (1) common share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of C$0.25 per common share for a period of five years from the date of issue.

The Company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities will be subject to a four-month hold period from the date of closing. The Private Placement is subject to a 25% over-allotment option and to an acceleration clause. See below for further details.

Common Shares issued pursuant to the Private Placement will be issued on a post-Consolidation basis. The Warrants issued in the Consolidation will be issued on a post-Consolidation basis, and upon the completion of the Consolidation will automatically be adjusted to the post-Consolidation terms disclosed above (five pre-Consolidation Warrants will entitle the holder to acquire one post-Consolidation Warrant at a price of $1.25).

If during a period of ten consecutive trading days between the date that is four (4) months following the closing of the Private Placement and the expiry of the Warrants the daily volume weighted average trading price of the common shares of the Company on the TSXV (or such other stock exchange where the majority of the trading volume occurs) exceeds C$0.50 on a pre-Consolidation basis for each of those ten consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants. Any Warrants which remain unexercised at 4:00 p.m. (Vancouver time) on the 30th day following the giving of such notice will expire at that time.

In connection with the closing of the Offering, the board of directors of South Star has approved the Consolidation of all of South Star's outstanding Common Shares on the basis of five (5) pre-Consolidation Common Shares for one post-Consolidation Common Share. The reasons for the Consolidation are to increase the Company's flexibility in the marketplace and to make the Company's securities more attractive to a wider audience of potential investors. Subject to approval by the TSXV, the Consolidation is expected to take effect on the Closing Date.

South Star currently has 102,533,520 Common Shares issued and outstanding. Assuming no changes in the number of the Common Shares outstanding, after giving effect to the Consolidation (prior to taking into account the Common Shares issued in the Offering described above), the Company would have approximately 20,506,704 Common Shares issued and outstanding.

Any fractional interest in Common Shares resulting from the Consolidation will be rounded down to the nearest whole Common Share. Registered shareholders will receive a letter of transmittal from Computershare Trust Company of Canada, South Star's transfer agent, with information on how to replace their old share certificates with the new share certificates. Brokerage firms will handle the replacement of share certificates on behalf of their shareholders' accounts. If approved by the TSXV, the Consolidation will occur immediately prior to the closing of the Offering (as defined above).

The exercise price and number of Common Shares issuable upon the exercise of South Star's outstanding stock options and warrants will be proportionately adjusted to reflect the Consolidation in accordance with the terms of such securities. Adjustments will depend on the terms of each particular security, but in general terms the number of common shares which may be acquired pursuant to a convertible security such as an option or warrant will be one-fifth of the pre-Consolidation number and the exercise price per common share will be five times the pre-Consolidation exercise price.

ABOUT South Star Battery Metals CORP

South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q2 2023.

South Star's next project in the development pipeline is a project in Alabama located in the middle of a developing electric vehicle, aerospace and defence hub in the southeastern United States. The Project is a historic mine active during World Wars I & II. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .

This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.

On behalf of the Board,

Mr. Richard Pearce Chief Executive Officer

For additional information, please contact:

South Star Investor Relations (Canada IR)

RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com

Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube

Neither the 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 press release.

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

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About Altech Chemicals Ltd: Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia. HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.

Contact: Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: hoffmann@soarfinancial.com

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Focus Graphite Inc is an exploration stage company. The company is engaged in the acquisition, exploration, and development of mineral properties in Canada. Its projects include Lac Knife; Lac Tetepisca graphite and Lac Guinecourt graphite property.

Click here to read the previous graphite market update.

As the world continues to move away from fossil fuels to green sources of energy, the role of battery metals is becoming increasingly important, with graphite being no exception.

Analysts continue to be optimistic about the future of graphite and its use in electric vehicle (EV) batteries — at least for the next few years. Both synthetic graphite and natural graphite, in the form of the intermediate product spherical graphite, are currently used in the anodes of lithium-ion batteries.

What happened in the graphite market so far in 2022? Read on to learn about the main supply and demand dynamics in H1 and what market participants are expecting for the rest of the year.

Last year, graphite prices rallied alongside most battery metals, as demand from the electric vehicle market picked up pace and the energy crisis put constraints on the market.

Over the first half of 2022, graphite prices have seen an increase. Daisy Jennings-Gray of Benchmark Mineral Intelligence told the Investing News Network that this is fairly typical of graphite's price performance, particularly in Q1 and early Q2, because the cold weather in Heilongjiang Province in Northeast China prevents operations from running,

“However, concerns over some of the mines in Luobei, where environmental transgressions had been uncovered by government inspections, did provide some stronger-than-usual upside to pricing in H1 2022,” she said.

Higher purity 100 mesh flake material, typically used for anodes in batteries that power electric vehicles, saw a nearly 30 percent increase in the first half of the year.

“Nonetheless, towards the end of Q2, with domestic seasonal supply ramping back up following expansion updates to facilities in the off-season, prices began to soften again, as expected,” Jennings-Gray said.

At the end of last year, analysts were expecting demand from the battery segment to continue to grow on the back of increased EV sales, with growth opportunities for both synthetic and natural graphite.

By volume, graphite is one of the most important elements in any electric vehicle battery; there is between 50 and 100 kilograms of graphite, whether synthetic or natural, present within each vehicle.

Overall, Benchmark Mineral Intelligence still expects to see a tightly balanced flake graphite market in 2022 leaning towards a supply deficit as demand from the anode industry continues to accelerate.

“Synthetic graphite production is still expected to be in slight surplus; however, that market is tight, too, as the ever-growing capacity demands from the anode industry strengthen,” Jennings-Gray said.

In the second half of the year, demand for natural graphite looks as if it will continue to accelerate, with the Chinese EV market recovering very quickly following the COVID-19 lockdowns in Shanghai in the second quarter.

“Anode majors and new market entrants alike continue to announce ambitious project plans, which will continue to require increasing volumes of graphite,” Jennings-Gray said.

Downstream demand over April and May was stifled by containment measures, although domestic graphite facilities themselves were largely unaffected by lockdowns.

“Issues with transport logistics did raise some concerns over availability of supply, providing some upside to pricing during April and May,” she said.

In 2021, China remained the world’s largest natural graphite producer, putting out 820,000 metric tons of the metal, significantly higher than the amount it produced in the previous two years. According to the US Geological Survey, the country accounted for 79 percent of world graphite mining in 2021. Brazil came in second followed by Mozambique, with production reaching 68,000 metric tons and 30,000 metric tons respectively.

A notable amount of flake graphite from graphite project developers outside of China is expected to come online in 2022, which will provide additional, and diversified, supply to market in 2023 and 2024.

“Overall, supply ramp-up is not expected to be able to keep pace with demand from the anode industry in the second half of 2022 and going into 2023,” Jennings-Gray said. “But increasingly weak demand from traditional sectors as China clamps down on its carbon emissions will continue to provide some demand-side relief.”

Today, synthetic graphite anodes make up the majority of market share, and approximately 57 percent of the anode market, according to Benchmark Mineral Intelligence.

But concerns over the energy intensity of synthetic graphite remains a global challenge in regards to ramp-up of the supply of this anode material.

“In China, efforts have been concentrated on developing synthetic graphite anode facilities in the southwestern provinces, where renewable energy, particularly hydroelectric power, is more readily available, after energy restrictions in other regions have become a concern,” Jennings-Gray said.

Additionally, rising oil prices amid the global energy crisis have given way to concerns over feedstock costs for synthetic graphite. That’s because the favored needle coke feedstock is a byproduct of oil refineries.

“As such, some anode manufacturers have turned to using pitch coke as feedstock, which is sourced from coal, raising concerns further over pollution,” Jennings-Gray added.

Now that the first half of the year is over, investors are looking for cues as to what could move the market going forward.

In terms of prices, given higher domestic seasonal supply in Q3 that will then wane in Q4, prices for anode end-use finer mesh sizes are likely to see some of the typical seasonal volatility.

“However, if recovery from COVID-19 lockdowns in China keeps momentum, then price upside is more likely than price downside, especially with no major volumes from new projects or expansions due to come online before the end of the year,” Jennings-Gray said.

That said, ongoing high global shipping prices will likely continue to prevent pricing from increasing dramatically, particularly for material from Africa.

“For larger flake typically used in industrial end applications, pricing will likely see stability or some softening as demand from these sectors wanes under Chinese environmental measures and concerns over the global economy,” Jennings-Gray said.

A key factor to keep an eye out for in the second half is further COVID-19 lockdowns, and whether these will hamper downstream demand or impact regions where graphite processing is happening.

Spheronization capacity is also a catalyst to keep in mind, according to Jennings-Gray, as previously there was a lot of latent spheronization capacity in China.

“Accelerating anode demand has begun to squeeze this capacity and has begun to force anode manufacturers to develop their own integrated capacity,” she said. “As such, tolling has increased, tightening margins for anode producers.”

Other natural or geopolitical factors seen in the first half of the year, such as increasing regularity of cyclones in Madagascar as a result of climate change and insurgent attacks in Mozambique, are also catalysts that could impact the market going forward.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

About Altech Chemicals Ltd: Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia. HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.

Contact: Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: hoffmann@soarfinancial.com

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Lomiko Metals (TSXV:LMR, OTC:LMRMF, FSE:DH8C) announced positive results on its initial metallurgical test programs at its La Loutre Graphite project in Quebec, and Lomiko Metals COO Gordana Slepcev is keen on advancing the project towards a pre-feasibility study.

“We have published the positive preliminary economic assessment (PEA) in July 2021. And we’ve done quite a bit of work to advance that project toward PFS. So we started with the infill program and drilled at 100 meters in the end zone. We're really happy to move it to a level 2 project with the infill drilling.”

Lomiko acquired approximately 14,255 hectares of mineral claims on six projects in the Laurentian region of Quebec and within First Nations territory. These new claims lie within a 100 km radius of the company’s flagship La Loutre graphite project. About 28 claims are directly contiguous to La Loutre, increasing the company’s claim package to 4,528 hectares.

Lomiko is currently undertaking several metallurgical studies to define the chemical and physical properties of La Loutre graphite concentrate. The studies aim to determine the upgrading potential of the graphite flotation concentrate for value-added processing and confirm the plant flowsheet to aid in the plant design for the Pre-Feasibility Study the Company will be looking to complete in 2023.

With the infill drilling and the metallurgical testing, Lomiko expects to confirm those results and create some samples that they can send to the companies for both battery production and industrial use.

“After we actually do the infill drilling and the resource estimate, we're going to upgrade our resources of 70 million tonnes of graphite for about 3 million pounds of graphite. Two thirds or about 46 million of those resources are inferred, so in order to move on with the feasibility study and really be considered as a serious development company, we really need to upgrade those resources.”

Watch the full interview of Lomiko Metals COO Gordana Slepcev above.

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This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

Lomiko Metals Inc. (TSXV: LMR) ("Lomiko Metals" or the "Company") announces the Company received TSX-V approval and has closed its private placement and issued 9,765,400 flow-through units (the "FT Units") at a price of $0.065 per FT Unit for aggregate gross proceeds of $634,751.

Each FT Unit consists of one common share that will qualify as a "flow-through share" within the meaning of the Income Tax Act (Canada) and the Taxation Act (Quebec) and one-half (1/2) of a common share purchase warrant (a "Warrant") with each whole Warrant exercisable at a price of $0.10 per share for a period of two years following closing.

The Company has paid cash finder's fees of $31,737.55 and will issue 580,182 non-transferable finder warrants.

The securities have now been issued having a hold period expiring November 26, 2022.

The Company intends to use the gross proceeds of the private placement to incur Canadian Exploration Expenses and "flow-through mining expenditures" as defined in the Income Tax Act (Canada) and the Taxation Act (Quebec) on the Company's Laurentides regional graphite exploration program and the Bourier Lithium property, which will be incurred on or before December 31, 2023, and renounced with an effective date no later than December 31, 2022 to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds from the sale of the FT Units.

Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with a purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals. Lomiko is ECOLOGO certified.

The Company holds a 100% interest in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 76 minerals claims totaling 4,528 hectares (45.3 km2). Lomiko Metals published a Preliminary Economic Assessment ("PEA") on September 10, 2021 which indicated the project had a 15-year mine life producing per year 100,000 tonnes of the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada's lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.

Mr. Mike Petrina, Project Manager, a Qualified Person ("QP") under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news release.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact Belinda Labatte at 647-402-8379 or email: info@lomiko.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Company's objective to become a responsible supplier of critical minerals, exploration of the Company's projects, including expected costs of exploration and timing to achieve certain milestones, including satisfactory completion of due diligence and ability to reach an agreement with third party owners in connection with projected acquisitions, timing for completion of exploration programs; the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company's business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Company's current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: potential of future acquisitions presently evaluated by the Company; current market for critical minerals; current technological trends; the business relationship between the Company, local communities and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.

The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com, and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

On behalf of the Board, Belinda Labatte CEO and Director, Lomiko Metals Inc.

Kimberly Darlington Investor Relations, Lomiko Metals Inc. k.darlington@lomiko.com 514-771-3398

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