Mr. Kerem Usenmez reports

VOLTA EXPANDS SURFACE LITHIUM MINERALIZATION AT ITS FALCON WEST LITHIUM PROPERTY

Volta Metals Ltd. has provided an update on exploration activities at its Falcon West lithium property, where recent mechanized stripping has significantly extended the size of all identified lithium pegmatites.

Mechanized stripping of the overburden around the pegmatite outcrops has defined a mineralized pegmatite fairway over 300 metres by 500 m, which remains open for expansion. Mapping and further channel sampling have been completed at all five spodumene-bearing pegmatites discovered to date in preparation for initial drill testing.

The expansion of the outcrops confirms the homogeneous spodumene crystal distribution with spodumene sizes up to 60 centimetres. A comparison of the modal estimates of spodumene content within each pegmatite is shown in the next attached table.

The largest surface expression is at the most geochemically evolved AM pegmatite, which is characterized by homogeneous, large spodumene crystals with tabular shapes, confirming the albite-spodumene type mineralization (see the comments by the company's technical director, Dr. Fred Breaks, in the news release dated Oct. 3, 2023). A good example of albite-spodumene-type mineralization is the Kings Mountain lithium project in North Carolina, owned by Albemarle Corp.

The initial drill program is anticipated to commence in late November to test the orientation, size, and structural controls of these lithium-caesium-tantalum (LCT) pegmatites.

The company's technical director, Dr. Fred Breaks, commented: "We look forward to the initial drilling program, as this work will aid in developing a structural model for spodumene pegmatite distribution and will also allow us to examine chemical and mineralogical variation with depth. The spacing of five spodumene pegmatite bodies is between 30 m and 90 m, so it is entirely possible that some of these pegmatites are connected at depth."

Volta's president and chief executive officer, Kerem Usenmez, PEng, commented: "The expansion of the surface expression of each LCT pegmatite on the Falcon West property confirms the potential of this project. We look forward to the commencement of maiden drilling to test these at depth in the coming weeks."

Share issuance

Pursuant to the terms of the White Lights option agreement, Volta issued 227,273 common shares as part of the commitment to earn a 100-per-cent interest on the White Lights property. The common shares were issued at a deemed issue price of 11 cents per common share for a total value of $25,000. The common shares will be subject to a hold period of four months and one day from their date of issuance.

Qualified person

The technical content of this news release has been reviewed and approved by Andrew Tims, PGeo, who is an independent qualified person (QP) as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The QP and the company have not completed sufficient work to verify the historical information on the properties, particularly regarding historical exploration, neighbouring companies and government geological work.

About Volta Metals Ltd.

Volta Metals is a mineral exploration company focused on lithium, caesium and tantalum, and is based in Toronto, Ont. It has optioned and is currently exploring a critical minerals portfolio of lithium, caesium and tantalum projects in Northwestern Ontario, which is considered to be one of the most prolific, emerging hard-rock lithium districts in the world.

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