Toronto, Ontario--(Newsfile Corp. - January 22, 2024) - Free Battery Metal Limited (CSE: FREE) (formerly, Titus Energy Corp.) (the "Company"), is pleased to announce the results of the 2023 exploration program and further findings of historical uranium occurrences in proximity to the Mound Lake Property.

Review of Historical Exploration

The Ontario Mineral Inventory records 4 uranium occurrences in proximity to the Mound Lake property. In 1981, Uranerz Mining and Exploration Co. Ltd. completed a combined airborne magnetic and electromagnetic survey in the Frazer Lake Area to locate bedrock conductors related to massive base metal and/or uranium deposits associated with conductive faults or shear zones. Uranerz concluded that the areas of highest priority were related to the Black Sturgeon River Fault, west of the Mound Lake prospect, with some lower priority areas to the east (Assessment File 2.4802).

In 2007, Benton Resources Corp. completed a reconnaissance radiometric and grab sampling survey over part of the Property currently held by Free Battery Metal. The assessment file reported values of up to 8600 ppm uranium. The rationale for the exploration program was proximity to known uranium occurrences and high equivalent uranium values indicated by an airborne magnetic and gamma ray spectrometric survey published by the Ontario Geological Survey (OGS) in 2004. Benton concluded that further prospecting, grab sampling and geological mapping was warranted to establish potential targets for diamond drilling.

2023 Exploration Summary

Exploration of Free Battery's Mound Lake property began in the summer of 2023. From June 30 to July 16, 2023, a program of prospecting and grab sampling was completed; 213 rock samples were sent for analysis. The methodology and results of this work were reported by Free Battery in a September 7, 2023, press release. As a follow-up to the summer prospecting program, an additional 164 samples were collected in September and October 2023 and sent to ALS Laboratories for trace element geochemistry analysis.

Picture 1. Location of samples for 2023 Fall program (red outline)

Analytical results were received in late December 2023. The fall field season was successful in confirming the presence of pegmatitic rocks with elevated tantalum, lithium, beryllium and other rare metal values near Mound Lake that were significantly higher than those returned from samples collected during the summer field season. Elevated rare metal values appear to be clustered in the northern part of the Property, near the northern contact of the Mound Lake Pluton with metasedimentary country rocks, in proximity to both the Larson Creek and Mound Creek faults. Another sample (KO43604), located west of Mound Lake and north of the Mound Creek Fault, returned 126.5 ppm tantalum from pegmatite hosted in metasedimentary rocks.

Table.1 - Results of 2023 Fall Sampling Program

These samples returned values up to 480 ppm lithium. Of special note are samples with coincident, elevated lithium and beryllium values. Elevated beryllium values, ranging to over 25,000 ppm indicate the presence of beryl, supporting the existence of a more evolved, fertile parental granite source for local pegmatites.

Map 1. Location of selected samples on Free Battery's Mound Lake property (red outline). This map also shows that these samples were taken near the contact between the Mound Lake granite pluton (pink) and the Quetico metasedimentary rocks (grey). The north-trending Larson Creek Fault (LCF), the east-northeast-trending Mound Creek Fault (MCF) and the newly discovered spodumene-bearing pegmatite dyke are also shown. Geology from Ontario Geological Survey Map P.3562, scale 1:50 000 (Hart et al 2005)

The Company is optimistic that the Mound Lake Pluton and its associated pegmatites may be the subject of future academic study by Dr. Shannon Zurevinski, Department of Geology, Lakehead University, Thunder Bay, who is currently conducting mineralogical and petrographic analyses of local granitic and pegmatitic rocks.

With the completion of the first year of exploration, the Company has accumulated a significant database of encouraging analytical results, samples, and geological site descriptions. The company plans to complete an in-depth review of this database and a comprehensive assessment of previous work done on and near the property to determine the best course of action for future exploration of the Property, including applications for any required exploration plans or permits needed for the next phase of work on the Property.

On Behalf of the Board of Directors,
Free Battery Metals Ltd.

Pam Sangster
Chief Executive Officer
Email: sangsterpam52@gmail.com
Phone: 519-495-5823

Qualified Person

Technical information in this news release has been reviewed and approved by Mark Smyk, P.Geo., a "Qualified Person" as defined under Canadian National Instrument 43-101.

Quality Assurance / Quality Control ("QA/QC")
Grab samples were managed by Planet X Exploration Services Ltd. All samples were bagged, sealed, and stored inside a storage locker until delivery to an independent laboratory, ALS Laboratories in Thunder Bay, Ontario (ISO/IEC 17025:2017). The initial batch of samples were analyzed by four acid digestion with ICP-MS finish (ME-MS61). Standards and blanks were submitted with the shipment to supplement the lab's internal controls.

About Free Battery Metal Limited

Free Battery Metal Limited is a publicly traded company exploring for Lithium.

The Company is committed to responsible mining practices and is actively exploring the Mound Lake Property in northwestern Ontario. The property comprises 243, single-cell unpatented mining claims totaling approximately 4,860 hectares. Historically, there has been little or no mineral exploration on or near the Property. The Company sees lithium and other rare metals as critical commodities in supporting the global move towards green technologies including the transition to electric vehicles.

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