Mr. Kerem Usenmez reports

VOLTA SIGNS MOU WITH NIPISSING FIRST NATION FOR ITS SPRINGER RARE EARTH ELEMENT PROJECT IN ONTARIO

Volta Metals Ltd. has signed a memorandum of understanding (MOU) with Nipissing First Nation (NFN) covering the territory where Volta's Springer rare-earth element (REE) project is located near Sturgeon Falls, Ont.

Purpose of MOU

Volta and NFN agree to engage in open, direct communication and to explore opportunities for collaboration on the mineral exploration and development of the Springer REE project. NFN's extensive network of first-nation-owned and community-partnered businesses offers valuable relationships that Volta may benefit from as the project advances. The parties will keep open and respectful lines of communication, working together to review Volta's work plans and pursue shared initiatives. A key goal is to ensure that NFN and its members can share in the project's benefits -- through local job creation, contracting opportunities, and future business and investment partnerships. This MOU guides the parties' collaboration up to the feasibility stage and the development of an impact benefit agreement (IBA).

President and chief executive officer Kerem Usenmez commented: "Volta has built a strong relationship with NFN and local communities since we acquired the Springer project in Nipissing First Nation's traditional territory, and signing this MOU solidifies the support and our collaboration to move our exciting project forward, while respecting the NFN values, mission and vision.

"We very much value the support of NFN for the advancement of the Springer REE project. We are proud to be partners with NFN and look forward to ongoing collaboration as we look to move the project forward."

Nipissing first nation chief Cathy Stevens commented: "This MOU reflects Nipissing First Nation's commitment to protect our lands and waters while creating meaningful opportunities for our people. By partnering with Volta, we set a strong foundation to pursue economic opportunities together and ensure respect for our aboriginal and treaty rights. We look forward to contributing to the advancement of this project."

Drill results

All the samples have been delivered to Activation Laboratories in North Bay, Ont., for geochemical assay, and results will be released upon receipt, which are now expected to be reported in October and November. As previously reported, all boreholes intersected multiple thick zones of fenitized syenite and carbonatite breccias, and the company drilled deeper than originally planned.

Warrant issuance

Under the terms of the MOU with NFN, Volta has agreed to grant an aggregate of one million common share purchase warrants to the Nipissing First Nation. Each warrant will entitle the holder to purchase one common share of the company at an exercise price of 26 cents per warrant share for a period of five years following the date of issuance of such warrants. The warrants will be subject to a hold period of four months and one day from their date of issuance. The issuance of the warrants is subject to the approval of the Canadian Securities Exchange.

About Volta Metals Ltd.

Volta Metals is a mineral exploration company based in Toronto, Ont., focused on rare earths, gallium, lithium, cesium and tantalum. It owns, has optioned and is currently exploring a critical minerals portfolio of rare earths, gallium, lithium, cesium and tantalum projects in Ontario, one of the world's most prolific and emerging hard-rock critical mineral districts.

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