Mr. Laz Nikeas reports

BATTERY MINERAL RESOURCES' ESI SUBSIDIARY SECURES STRATEGIC FINANCING WITH JPMORGAN CHASE

Battery Mineral Resources Corp.'s wholly owned subsidiary, ESI Energy Services Inc., operating under the brand Ozzies Inc., has completed a new senior secured financing arrangement with JPMorgan Chase Bank N.A.

The financing establishes a new long-term banking relationship, strengthens ESI's capital structure and provides additional financial flexibility to support the continued growth of the business.

The new financing includes:

• $6.0-million (U.S.) senior secured loan with a four-year term;
• $1.0-million (U.S.) revolving line of credit;
• Up to an additional $5.0-million (U.S.) equipment financing facility, which the company expects to finalize with JPMorgan in the near term, subject to completion of definitive documentation and customary closing conditions.

Together, these facilities are expected to provide up to $12.0-million (U.S.) of financing capacity to support ESI's operations, future equipment expansion and continued investment in its manufacturing capabilities.

Part of the proceeds of the new term loan were used to repay ESI's existing credit facility with Fiera Enhanced Private Debt Fund LP in full, with the remaining funds available to support the continued growth at ESI.

"This financing is an important validation of the business ESI has become and we are pleased to have JPMorgan as our partner," said Laz Nikeas, chief executive officer of Battery Mineral Resources. "ESI has delivered strong operating performance, profitability and cash generation over the past two years. The new financing strengthens our balance sheet, lowers our cost of capital, enhances our financial flexibility and positions us to continue investing in the growth of our ESI business."

Restricted share unit grants

The company also announces that it has granted an aggregate of 13,193,431 restricted share units (RSUs) pursuant to its performance share unit and restricted share unit plan.

The RSUs were granted to certain directors and executive officers of the company, including 9,033,443 RSUs to Mr. Nikeas, 3,659,988 RSUs to chief financial officer Jennifer Fulton Anderson and 500,000 RSUs to director Keith Spano. Each RSU entitles the holder to receive one common share of the company upon vesting.

The RSUs granted to Mr. Spano and Ms. Fulton Anderson vest in three equal annual instalments commencing on the first anniversary of the date of grant. The RSUs granted to Mr. Nikeas vest on the third anniversary of the grant date. In each case, vesting is subject to the terms of the company's performance share unit and restricted share unit plan, and the applicable award agreements.

About ESI Energy Services Inc.

ESI, operating under the brand Ozzies, is a leading designer and manufacturer of specialized equipment serving the renewable and conventional energy sectors. Headquartered in Phoenix, Ariz., the company provides equipment leasing, sales and manufacturing solutions supporting large-scale solar, wind, oil and gas, and utility infrastructure projects. ESI is a wholly owned subsidiary of Battery Mineral Resources.

About Battery Mineral Resources Corp.

Battery Mineral Resources operates the Punitaqui mining complex, a historic copper-gold-and-silver-producing mine in the Coquimbo region of Chile. The company's portfolio also includes 100-per-cent-owned ESI Energy Services and North American mineral exploration assets. The company is focused on providing shareholders with accretive exposure to copper and the global trend of electrification, while targeting growth through cash flow, exploration and acquisitions in favourable mining jurisdictions.

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