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 - Seite 2

 
Analysis and Statement of Qualified Person

Drilling of the property is still at an early stage with 7 holes now completed.  Strong lithium mineralization within claystone units of the Esmeralda Formation have been intersected at depth below gravel cover in holes 22-09 and 23-01.  Encouragingly, the final hole of the spring 2023 program intersected mineralized claystone at surface in hole 23-05.  This hole is a large step out from the mineralized area around 22-09 and 23-01.  While the mineralization was hit in the first drill interval in 23-05, thin soil cover obscures the presence of these lithium mineralized claystone units at the ground surface.  Hole 23-05 opens a new area for exploration of on the property and within the new extension to property recently staked.  This portion of the property has not been a focus area from prospecting previously and when combined with the large extension to the property via the newly staked 2000+ acres of ground, a high priority target area presents itself. 

The at surface position of the claystones in 23-05 opens up a new avenue for exploration where, for instance, shallow soil sampling with an auger could be used to quickly map new areas of thinly concealed mineralization over a large area in the southwest portion of the property.

The Company continues to analyze its overall results from all exploration activities, combining two drill programs, field mapping, surface sampling, and Tromino passive seismic studies, to develop the most complete picture for ongoing exploration plans at Smokey Lithium. The project area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at surface.  When combined the project area is highly prospective. 

The technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.

1 https://www.victorybatterymetals.com/victory_expands_its_smokey_lithiu ...

About Smokey Lithium, Nevada

Victory’s Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, to the west of American Lithium’s flagship lithium project. Smokey Lithium is located northwest of Cypress’ Clayton Valley Lithium Project and to the southwest of American Lithium Corporation's Tonopah Lithium Claims Property in southwest Nevada. Esmeralda County Nevada is a prolific region for lithium clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee).