Mr. Scott Eldridge reports

UNITED LITHIUM ANNOUNCES CLOSING OF $2.25M FINANCING AND APPOINTMENT OF ANDREW BOWERING AS INTERIM CEO

United Lithium Corp. has closed its previously announced non-brokered private placement for gross proceeds of $2.25-million, through the issuance of 15 million units at a price of 15 cents per unit.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one share at an exercise price of 30 cents for a period of 24 months from the date of issuance. The warrants are subject to an acceleration provision whereby, if the shares close at 60 cents or greater for 10 consecutive trading days, the company may accelerate the expiry date of the warrants to 30 days following notice to the holders.

All securities issued in the offering are subject to resale restrictions until March 20, 2026, in accordance with applicable securities laws. No finders' fees or commissions were paid in connection with completion of the offering. The offering remains subject to the final approval of the Canadian Securities Exchange.

The company intends to use the net proceeds of the offering for general working capital purposes, advancing exploration across United Lithium's portfolio, and to support continuing due diligence, regulatory and transactional work related to the company's proposed acquisition of Swedish Minerals AB, as announced on Oct. 17, 2025.

The offering included participation by certain insiders of the company, including Andrew Bowering (interim chief executive officer) for $300,000, Henrik Lundin (director) for $20,000 and Iain Scarr (director) for $25,000. Such participation constitutes a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The issuance of securities to related parties is exempt from the valuation requirement pursuant to section 5.5(b) of MI 61-101, as the company's shares are not listed on a specified market, and is exempt from the minority approval requirement pursuant to Section 5.7(a) of MI 61-101 since the aggregate consideration paid to related parties does not exceed 25 per cent of the company's market capitalization.

Management changes

The company also announces the appointment of Mr. Bowering as interim chief executive officer, effective immediately, replacing Scott Eldridge, who will continue to serve as a director of the company.

Mr. Bowering has served as a strategic adviser to United Lithium, and brings more than 30 years of mining, capital markets and corporate development experience. His background includes senior leadership and founding roles in multiple successful public companies, including Millennial Lithium Corp. (acquired by Lithium Americas), Prime Mining Corp. (acquired by Torex Gold), American Lithium Corp. and Apollo Silver Corp. His extensive experience advancing exploration assets, building corporate platforms and securing strategic financing positions him well to lead United Lithium through its next phase of development.

The board of directors would like to thank Mr. Eldridge for his contributions to the company as president and CEO.

About United Lithium Corp.

United Lithium is an exploration and development company energized by the global demand for lithium. The company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development, and production opportunities.

The company's consolidated financial statements and related management's discussion and analysis are available on the company's website.

We seek Safe Harbor.