VICTORY DRILLS 137 ft AT 1023 Li PPM, INCLUDING 85 FT AT 1267 Li PPM WITH A HIGH INTERCEPT OF 1620 Li PPM IN ITS 23-01 DRILL HOLE AT ITS SMOKEY LITHIUM, NEVADA PROPERTY

VANCOUVER, BC, CANADA, June 14, 2023 (GLOBE NEWSWIRE) --

• Victory’s exploration team’s analysis of its Phase 2 drill program is highlighted by strong correlations extending the high-grade intercepts from the Phase 1 2022 drill program on its 22-09 and 23-01 holes, featuring higher ppm Li results
• The drill program included 4 holes, with a combined total of 1966.5 feet of drilling
• As a result of initial analysis, Victory made the decision to stake 100 new lode claims as announced on 12 June 2023, expanding the property by 2066 acres to 5691 acres

VANCOUVER, BC, CANADA (14 June 2023) – Victory Battery Metals (CSE: VR) (FWB: VR6) (OTC: VRCFF) (“Victory” or the “Company”) is excited to announce the drill results from its Phase 2 drilling program at its Smokey Lithium Nevada property, which include a strong correlation to its Phase 1 2022 drill program confirming a significant area of interest and positive indications for continued exploration.

Highlights

• Hole 23-01 – From 264 feet to end of hole 536.5 feet,  intersected 695 parts per million (“ppm”) lithium in claystone, including 858 ppm Li over 210 feet from 327 feet to 537 feet, 1023 ppm Li over 137 feet from 391 feet to  528 feet, and 1267 ppm Li over 85 feet from 434 feet to 519 feet. Hole 23-01 maximum intercept of 1620 ppm Li occurred over 8 feet from 464 feet to 472 feet.

• Hole 23-01 compares favourably to Hole 22-09 from our previous drill program, correlating in lithology but with higher Li ppm values to 22-09, achieving a main objective of this drill program to test the bottom of the claystone, noting that 2022’s Hole-09 ended in significant claystone hosted lithium mineralization at 417 feet. See (Figure 1).

• Planned for a 3-hole program, the Company expanded to 4 holes as announced on 25 April 2023.¹ Hole 23-02 reaching claystone at 11 feet and being terminated at 155 feet due to adverse ground conditions that involved swelling clay and the collapse of the hole. Hole 23-03 was drilled to a depth of 617.5 feet, averaging 218 ppm Li for 64.5 feet from 203.5 feet to 268 feet.

• Hole 23-05 intersected claystone at surface and averaging 303 ppm Li from surface to 220 feet, with highest intercepts of 620 ppm Li for 9.5 feet from 77.5 feet to 87 feet, 530 ppm Li for 9.5 feet from 134.5 feet to 144 feet, and  410 ppm Li for 9 feet from 192 feet to 201 feet.

 Mr. Mark Ireton, Victory President and CEO notes: “Victory’s exploration team is highly encouraged by the correlation between holes 22-09 and 23-01 (see Figure 2), which identifies an extension of the highly mineralized zone identified in the Phase 1 drill program last year. Drill programs provide information on where exploration and future drilling needs to be focused and on where it does not, in this case beyond the information that ppm Li provides, interestingly, the claystone intercepted beginning at surface on hole 23-05 has characteristics that are of high interest to our team and require continued analysis in relation to significant deposits that exist in the region. As noted on 12 June 2023, the Company has expanded the Smokey Lithium property by 100 lode claims in response to preliminary analysis in order to protect the interests of the project going forward.”