Mr. Trevor Walker reports

FRONTIER LITHIUM ANNOUNCES CLOSING OF C$15 MILLION BOUGHT DEAL

Frontier Lithium Inc. has closed its previously announced bought deal offering of units of the company with a syndicate of underwriters led by BMO Capital Markets. An aggregate of 20 million units were sold at a price of 75 cents per unit for gross proceeds to the company of $15-million. Each unit comprises one common share of the company and half of one common share purchase warrant. Each warrant shall be exercisable to acquire one common share at a price of $1.00 per warrant share for a period of two years from the closing of the offering.

The net proceeds of the offering will be used for advancing the PAK lithium project. These funds will support the completion of an updated mine and mill technical report, facilitate activities related to government-financed or cost-shared infrastructure initiatives, permitting, advancement of lithium conversion study and cover general administrative, as well as corporate expenses.

"This financing marks an important step in advancing the PAK lithium project, supporting key engineering, permitting and downstream initiatives that will continue to derisk the asset and support the company's efforts toward future project financing," said Trevor Walker, president and chief executive officer of the company. He added: "We were pleased to see continued support from long-term shareholders, new institutional investors and insiders, reinforcing our belief that Frontier is well positioned for the next phase of the market -- supporting a secure North American lithium supply, advancing a phased derisking strategy and positioning the project as a strategic asset within the emerging domestic critical minerals supply chain."

In connection with the offering, the company paid the underwriters a cash commission equal to 6.0 per cent of the gross proceeds realized by the company in respect of the sale of the units. In addition, the company issued to the underwriters broker warrants of the company, exercisable any at time prior to the expiry date, to acquire in aggregate that number of units of the company, which is equal to 6.0 per cent of the number of units sold under the offering with each such broker warrant having a exercise price equal to the offering price per broker unit. Each broker unit consists of one common share and one-half of one common share purchase warrant with each broker unit warrant entitling the holder thereof to acquire one common share at a price of $1.00 per broker unit warrant share at any time prior to the expiry date.

Participation by insiders of the company in the offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. A total of six insiders participated in the offering, acquiring a total of 136,668 units for gross proceeds $102,501. The company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a), respectively, as the fair market value of the securities issued to, and the consideration paid by, such insiders does not exceed 25 per cent of the company' s market capitalization.

The units were offered by way of a short form prospectus in all of the provinces of Canada (except Quebec), and in jurisdictions outside of Canada on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.

About Frontier Lithium Inc.

Frontier Lithium is a preproduction mining company with an objective to become a strategic and integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the growing electric vehicle and energy storage markets in North America. The company's PAK lithium project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

About the PAK lithium project

The PAK lithium project is a fully integrated critical minerals initiative in Ontario, developing a high-grade, large-scale lithium resource. Operated as a joint venture between Frontier (92.5 per cent) and Mitsubishi Corp. (7.5 per cent), the project is advancing in parallel with a mine and mill, north of Red Lake, Ont., and a downstream lithium conversion facility in Thunder Bay, Ont., which are both key to supporting a secure domestic lithium supply for the clean energy transition. A 2025 mine and mill feasibility study (FS), prepared by DRA Global Ltd. and entitled National Instrument 43-101 technical report FS PAK lithium project, mine and mill, outlines a 31-year project life with an after-tax net present value of $932-million at an 8-per-cent discount rate and an after-tax internal rate of return of 17.9 per cent. These results have been disclosed in the company's press release dated May 28, 2025, and the accompanying technical report was filed on SEDAR+ on July 9, 2025.

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