Dr. Jamil Sader reports

MONUMENTAL MINERALS CORP. AMENDS OPTION AGREEMENT WITH LITHIUM CHILE INC. FOR THE SALAR DE TURI PROJECT IN THE LITHIUM TRIANGLE, CHILE

Monumental Minerals Corp. has amended the option agreement with Lithium Chile Inc. for the Turi property located within the Lithium triangle about 120 kilometres northwest from the Salar de Laguna Blanca and 60 km northeast from the city of Calama, Chile.

Amended terms of the option agreement

Under the amended terms of the option agreement (see the company's news release dated Oct. 6, 2022), in order to exercise the option to acquire a 50.01-per-cent interest in the Turi project, Monumental must make certain staged cash payments to Lithium Chile and incur exploration expenditures on the Turi project as follows:

(a) In the event of Monumental entering into a joint-venture agreement with a third party on the property:

Make cash payments to Lithium Chile of an aggregate of $700,000 according to the following schedule:

1. $200,000 within five days of the date on which the option agreement and the transaction contemplated herein is accepted for final approval by the TSX Venture Exchange (exchange approval previously obtained and cash has been paid to Lithium Chile);
2. $250,000 within five days of the effective date of the JV agreement;
3. $250,000 on or before Oct. 5, 2025.

Incur minimum expenditures on the property of not less than an aggregate of $1.4-million on or before Oct. 5, 2025.

(b) In the event no JV agreement is entered into by Oct. 31, 2024:

Make cash payments to Lithium Chile of an aggregate of $700,000 according to the following schedule:

1. $200,000 within five days of the acceptance date (paid);
2. $250,000 on or before Oct. 31, 2024;
3. $250,000 on or before Oct. 5, 2025.

Incur minimum expenditures on the property of not less than an aggregate of $1.4-million on or before Oct. 31, 2025.

The company continues discussions with the representatives of the Turi community to finalize the timing, payments and plans as it relates to drilling on the Turi project, however, there is no assurance that the company's efforts will be successful.

About Monumental Minerals Corp.

Monumental Minerals is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in the critical and electric metals sector. The company's flagship asset is the Jemi HREE project located in Coahuila, Mexico, near the Texas, United States, border, which the company has an option to acquire 100 per cent of the 3,650-hectare project. The company has an option to acquire a 75-per-cent interest and title to the Laguna Blanca project located in Chile; and the company has an option to acquire a 50.01-per-cent interest and title to the Turi project located in Chile.

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