Battery X Metals evaluates Phase I program at Y Lithium

VANCOUVER, BC / ACCESS Newswire / August 13, 2026 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW0, WKN:A41RJF) (" Battery X Metals " or the " Company ") an energy transition resource exploration and technology company, provides an update on its Y Lithium Project (the " Y Lithium Project "), a National Instrument 43-101 (" NI 43-101 ") compliant, district-scale lithium exploration project located in a remote and underexplored region near Bailey Lake, Saskatchewan, approximately 160 kilometers northeast of Stony Rapids and 10 kilometers south of the Saskatchewan-Northwest Territories border.

The Y Lithium Project comprises four mineral claims across two distinct blocks, covering approximately 5,856 hectares within the prospective Ennadai Greenstone Belt. The project is located approximately 5 kilometers west of a reported lithium- and tantalum-bearing pegmatite discovery. References to discoveries or mineralization on nearby properties are not necessarily indicative of mineralization on the Y Lithium Project, and there can be no assurance that similar mineralization will be identified on the Y Lithium Project.

The Company's wholly-owned subsidiary, YY Resources Inc., made deficiency deposits totaling C$54,039.40 (the " Claim Deposit ") with the Government of Saskatchewan, Lands and Mineral Tenure Branch, Ministry of Energy and Resources (the " Ministry "), effective August 12, 2026, in respect of the four mineral claims comprising the Y Lithium Project (the " Claims "). As a result of the Claim Deposit, three of the Claims have good-standing dates of May 16, 2027, and one Claim has a good-standing date of May 18, 2027 (collectively, the " Good Standing Dates ").

In or around May 2026, the Company submitted an extension-of-time deposit of C$21,133.83 (the " Extension Deposit ") to the Ministry in respect of the Claims, which extended the applicable claim dates to August 15, 2026 and August 17, 2026, respectively. The subsequent Claim Deposit was made in an effort to maintain the Claims in good standing through the Good Standing Dates and provide the Company with additional time to evaluate and plan potential follow-on exploration activities at the Y Lithium Project.

The Company's evaluation of potential future exploration activities builds upon technical work completed at the Y Lithium Project during 2025. During that year, the Company completed a high-resolution LiDAR (Light Detection and Ranging) and orthophoto survey program (the " LiDAR Survey ") and submitted an associated assessment report (the " Assessment Report ") to the Ministry. The total value of the LiDAR Survey and Assessment Report was approximately C$71,078, inclusive of applicable taxes. The LiDAR Survey and Assessment Report qualified for a 1.5x exploration expenditure credit under Saskatchewan's mineral exploration incentive program, and the applicable 2025 exploration expenditure requirement was satisfied through this work.

The LiDAR Survey was undertaken to provide additional technical information to support the evaluation and future exploration planning of the Y Lithium Project. The LiDAR Survey data is expected to assist in identifying glacial features, potential outcrop and prospective boulder trains across the property. When integrated with available government datasets, the information is also expected to assist in delineating lithological contacts and structural corridors that may warrant further investigation.

Following completion of the LiDAR Survey, the Company voluntarily prepared and filed a 43-101 technical report for the Y Lithium Project, effective October 16, 2025 (the " Technical Report "), which is available under the Company's profile on SEDAR+. The Technical Report recommended integrating available government datasets with the results of the LiDAR Survey to identify areas prospective for lithium pegmatite mineralization and, based on that work, undertaking a Phase I geological mapping and sampling program across the most prospective areas of the property.

Building upon the technical work completed in 2025 and the recommendations of the Technical Report, the Company is currently evaluating a potential Phase I geological mapping and sampling program (the " Phase I Program "). If undertaken, the Phase I Program is expected to further characterize the surficial and bedrock geology of the Y Lithium Project and evaluate prospective areas for geological features and mineralization that may be indicative of lithium-bearing pegmatites within the project area.

To date, management has obtained quotations from the Company's third-party geological consultant totaling approximately C$127,425 for the currently contemplated scope of the Phase I Program. In order to satisfy the applicable exploration expenditure requirements and recover the Claim Deposit and Extension Deposit, less applicable fees, the Company would be required to complete and submit eligible exploration expenditures totaling approximately C$141,877.43 by the applicable Good Standing Dates, consisting of approximately C$54,039.40 in respect of the current period and C$87,838.03 in respect of the subsequent period.

If the Company does not complete the required eligible exploration expenditures by the applicable Good Standing Dates, the Company may be eligible to submit a further extension-of-time deposit to extend the period available to satisfy the applicable exploration expenditure requirements. The Company may also, subject to applicable requirements, make a further deficiency deposit in lieu of completing the required assessment work, including following the expiry of any applicable extension period. Deficiency deposits that are forfeited on a claim may not be made for more than three consecutive assessment work periods. The Claim Deposit represents the first such period and, accordingly, the Company may make deficiency deposits in respect of up to two additional consecutive assessment work periods, subject to applicable requirements. The availability and amount of any further extension-of-time deposit or deficiency deposit would be determined at the applicable time in accordance with the requirements then in effect.

Accordingly, if the Company elects to proceed with the Phase I Program, management expects to seek additional quotations and may broaden the scope of the proposed program to include additional eligible exploration activities, with a view to satisfying the applicable aggregate exploration expenditure requirements for the Claims. The scope, timing and cost of any Phase I Program, including any expanded program, have not yet been determined and will be subject to a number of factors, including prevailing macroeconomic and market conditions, the availability of capital, budget and personnel resources, the Company's ongoing assessment of the Y Lithium Project and other considerations that may affect the Company's exploration plans. There can be no assurance that the Company will proceed with the Phase I Program or any other exploration program, or incur the exploration expenditures required to maintain the Claims in good standing.

About Battery X Metals Inc.

Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW0, WKN:A41RJF) is an energy transition resource exploration and technology company committed to advancing domestic battery and critical metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, extending the lifespan of lithium-ion batteries, and the recovery and recycling of battery materials. As global electric vehicle adoption continues to grow and demand for battery lifecycle solutions increases, the Company is advancing its patent-pending lithium-ion battery rebalancing technology, which recovered approximately 99% of capacity lost due to cell imbalance in a technology demonstration conducted in collaboration with the National Research Council of Canada (NRC), with the NRC validating the initial and final state of charge of the cells. For more information, visit batteryxmetals.com.

On Behalf of the Board of Directors

Massimo Bellini Bressi, Director

For further information, please contact:

Massimo Bellini Bressi Chief Executive Officer Email: mbellini@batteryxmetals.com Tel: (604) 694-9823

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include, but are not limited to, statements relating to: the Company's evaluation of and potential decision to proceed with the Phase I Program; the anticipated scope, objectives, timing and cost of the Phase I Program; the anticipated use and integration of the LiDAR Survey results and available government datasets in connection with future exploration planning and the identification of areas prospective for lithium pegmatite mineralization; the potential for the Phase I Program to further characterize the surficial and bedrock geology of the Y Lithium Project and assess whether spodumene-bearing pegmatites are present within the project area; management's expectation that it may seek additional quotations and broaden the scope of the proposed Phase I Program to include additional eligible exploration activities; the Company's ability to complete and submit sufficient eligible exploration expenditures by the applicable Good Standing Dates to satisfy the applicable exploration expenditure requirements for the Claims; the Company's ability to maintain the Claims in good standing; the potential recovery of the Claim Deposit and Extension Deposit, less applicable fees; the Company's potential eligibility to submit a further extension-of-time deposit if the required eligible exploration expenditures are not completed by the applicable Good Standing Dates; the Company's potential ability, subject to applicable requirements, to make further deficiency deposits in lieu of completing required assessment work, including following the expiry of any applicable extension period; the availability, amount, duration, terms and other applicable requirements of any further extension-of-time deposit or deficiency deposit; and the Company's future exploration plans for the Y Lithium Project. Forward-looking information is based on management's current expectations, estimates, assumptions and projections as of the date of this news release. Such information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, without limitation: the risk that the Company may determine not to proceed with the Phase I Program or any other exploration activities at the Y Lithium Project; the risk that the scope, timing or cost of the Phase I Program may differ from current expectations or quotations received to date; the availability and cost of geological consultants, contractors, personnel and other resources; the Company's ability to obtain additional quotations and identify or undertake additional eligible exploration activities; the availability of capital and the Company's ability to fund future exploration activities; the Company's ability to incur and submit sufficient eligible exploration expenditures by the applicable Good Standing Dates to satisfy the applicable exploration expenditure requirements, maintain the Claims in good standing and recover the Claim Deposit and Extension Deposit, less applicable fees; the risk that the Company may not be eligible to obtain a further extension of time or make a further deficiency deposit, or may determine not to seek or fund any further extension-of-time deposit or deficiency deposit; uncertainty as to the availability, amount, duration, terms and other applicable requirements of any further extension-of-time deposit or deficiency deposit; the limitations applicable to the use of deficiency deposits, including the restriction on making deficiency deposits that are forfeited on a claim for more than three consecutive assessment work periods; uncertainties relating to the interpretation and usefulness of LiDAR, geological and government data; the possibility that future exploration may not identify lithium-bearing pegmatites, spodumene-bearing pegmatites or other mineralization of interest; changes in exploration plans, budgets or strategic priorities; unforeseen environmental, logistical, regulatory or permitting matters; and general economic, financial, market, commodity and geopolitical conditions. Forward-looking information is not a guarantee of future performance and reflects management's expectations only as of the date hereof. There can be no assurance that the Company will proceed with the Phase I Program or any other exploration activities at the Y Lithium Project, that any such program will be completed within the scope, timing or cost currently contemplated, that the Company will incur and submit sufficient eligible exploration expenditures by the applicable Good Standing Dates to satisfy the applicable exploration expenditure requirements, maintain the Claims in good standing or recover the Claim Deposit or Extension Deposit, that the Company will be eligible to obtain or will elect to seek any further extension of time or make any further deficiency deposit, or that future exploration activities will identify lithium-bearing pegmatites, spodumene-bearing pegmatites or other mineralization of interest. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on forward-looking information and are encouraged to review the Company's continuous disclosure filings available under its profile on SEDAR+ for additional risk factors and further information.

SOURCE : Battery X Metals

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August 12, 2026 - 11:00 PM PDT

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