Mr. Simone Suen reports

IMAGINE LITHIUM EXPANDS STRATEGIC LAND PACKAGE AT JACKPOT PROJECT BY 45%; GRANTS OPTIONS

Imagine Lithium Inc. has strategically acquired land in the prolific Georgia Lake pegmatite field (GLPF), increasing its overall prolific exploration area by 45 per cent at its 100-per-cent-owned Jackpot lithium project, located near Thunder Bay, Ont., Canada. The addition of the Spod lithium option of 8,449 hectares (ha) brings the total land package held by Imagine to a total of 27,597 ha of prospective geology in the GLPF.

The addition of the Spod option claims creates a continuous land position between the National Instrument 43-101-compliant Jackpot deposit and Rock Tech Lithium's Nama Creek deposit to the north, representing a strategic land acquisition that strengthens Imagine's exploration footprint moving forward.

Simone Suen, president of Imagine, stated: "We are pleased to announce the acquisition of a substantial land package for our Jackpot project, consolidating significantly more prospective ground and positioning Imagine Lithium as the largest landholder in the Georgia Lake region. This expansion enhances synergies with Rock Tech Lithium's Nama Creek project and strengthens Imagine's ability to advance our mineral resource inventory, currently at 3.1 million tonnes indicated and 5.3 million tonnes inferred (with grades of 0.85 per cent and 0.91 per cent Li2O, respectively). The outcome of the 2025 field season continue to refine our exploration model for the belt, underscoring the value of methodical exploration in identifying new deposits. Access to nearby infrastructure, ports and a skilled work force further supports the potential to bring Ontario's first lithium deposit into production."

Under the terms of the agreement, effective Dec. 5, 2025, Imagine Lithium agrees to purchase a 100-per-cent undivided right, title and interest in the North Nipigon lithium property from Spod Lithium Corp., hereby called the Spod lithium option. Upon execution of the agreement, the 18 multicell mineral claims will be purchased for an aggregate cash payment of $30,000. The claims are subject to a 2-per-cent net smelter return (NSR) royalty, which will be held by Jadeite Capital Ltd.

The addition of this strategic land package complements future exploration plans and highlights the discovery potential for multiple open-pit, hard-rock lithium deposits in the Georgia Lake pegmatite field. The previously announced mineral resource estimate (see Sept. 3, 2024, news release) on the Jackpot project outlines two conceptual pit shells -- Jackpot and Casino Royale -- both exhibiting good grade continuity and strong potential for resource expansion. The resources remain open along strike and to depth.

Resource highlights -- NI 43-101 mineral resource estimate:

• Indicated resource: 3.1 million tonnnes grading 0.85 per cent Li2O (26,200 tonnes contained Li2O);
• Inferred resource: 5.3 million tonnes grading 0.91 pepr cent Li2O (49,500 tonnes contained Li2O):
  • Cut-off grade: 0.30 per cent Li2O (pit constrained);
  • Recovery: 81.5 per cent Li2O, based on SGS metallurgical testing;
  • Bulk density: 2.69 tonnes per cubic metre;
  • Estimation method: inverse distance (ID) squared on two-by-two-by-two-metre blocks;
  • Effective date: Sept. 3, 2024; prepared by P&E Mining Consultants Inc.; technical report filed Oct. 18, 2024.

Metallurgical testwork

The early metallurgical results demonstrate that Jackpot mineralization can yield a high-grade spodumene concentrate suitable for the lithium battery supply chain:

• Metallurgical testing was conducted by SGS Lakefield (2022 to 2023) on a 200-kilogram composite sample grading 1.72 per cent Li2O and 0.29 per cent Fe2O.
• Heavy liquid separation (HLS) produced a 6.0 per cent Li2O spodumene concentrate with Li2O recovery of 81.5 per cent and a concentrate iron content of 0.76 per cent Fe2O, without magnetic separation.
• Additional optimization through dense media separation (DMS) and flotation is expected to further enhance recovery and concentrate grade.
• The company adopted the recovery figure of 81.5 per cent within the MRE cut-off assumptions.

Grant of options

Imagine further announces that it has granted 7.2 million options to an officer and director of the company, exercisable at five cents5 for a period of five years from the date of grant. The options have been granted in accordance with the company's stock option plan.

Qualified person

The technical content of this news release was reviewed and approved by Jason Arnold, PGeo, an independent qualified person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 kilometres north-northeast of Thunder Bay, Ont., and approximately 12 kilometres by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads and ports. The Jackpot property consists of 297 mineral claims covering 18,800 hectares. The property contains NI 43-101-compliant mineral resources of 3.1 million tonnes grading 0.85 pe cent Li2O in the indicated category and 5.3 million tonnes grading 0.91 per cent Li2O in the inferred category, as well as a number of other known pegmatite showings.

We seek Safe Harbor.