Mr. Trevor Walker reports

FRONTIER LITHIUM REPORTS FIRST QUARTER RESULTS AND RECENT HIGHLIGHTS

Frontier Lithium Inc. has released its financial results for the three months ended June 30, 2026. The unaudited condensed consolidated interim financial statements and related management's discussion and analysis have been filed on SEDAR+ and can be viewed under the company's profile at SEDAR+, as well as on the company's website.

First quarter financial highlights

As at June 30, 2026, the company had cash and cash equivalents of approximately $20.9-million. On April 30, 2026, the company completed a $15.0-million bought deal offering, resulting in net proceeds of approximately $13.6-million. These funds provide a strong financial position to support corporate and administrative expenses and advance the company's planned business objectives.

Recent highlights

• On Aug. 6, 2026, Frontier Lithium Advanced Materials Inc. entered into a contribution agreement with Natural Resources Canada under the Global Partnerships Initiative, providing for a non-repayable contribution of up to $2.3-million, subject to the agreement's terms and conditions.
• Funding under the Global Partnerships Initiative is intended to support technical and economic feasibility work to optimize lithium refining flowsheets and assess commercialization pathways for secondary materials generated during the lithium conversion process, with a focus on evaluating sodium sulphate for specialty fertilizer production.
• On Aug. 13, 2026, the company entered into an amendment agreement relating to its unsecured convertible loan for $3.35-million. The proposed amendments include extending the maturity date to Feb. 25, 2028, and changing the conversion price to 45.5 cents per common share. All other terms and conditions of the convertible loan remain unchanged. The amendments remain subject to applicable regulatory authorizations, including TSX Venture Exchange approval.
• The company continued environmental baseline studies to support project permitting.

"Supported by a strong treasury and important government and industry partnerships, Frontier Lithium continues to advance the PAK lithium project through key development milestones. Our focus remains on permitting, infrastructure, technical studies and building the foundation for a fully integrated lithium business that can help meet North America's growing demand for critical minerals and battery materials," said Trevor Walker, president and chief executive officer of Frontier Lithium.

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 North America's highest-grade known lithium resource. Operated as a joint venture between Frontier Lithium (92.5 per cent) and Mitsubishi Corp. (7.5 per cent), the project is advancing in parallel with a mine and mill and a downstream conversion facility in Thunder Bay, Ont., 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 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 were disclosed in a press release dated May 28, 2025, and the accompanying technical report was filed on July 9, 2025, on SEDAR+.

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