EON Signs Purchase Agreement for Geovolt Power Corporation

VANCOUVER, BC / ACCESS Newswire / April 17, 2026 / Eon Lithium Corp. (TSX.V:EON) ("Eon Lithium" or the "Company") is pleased to announce that on April 15, 2026 it entered into a Share Purchase Agreement with Geovolt Power Corporation (GPC), a private British Columbia corporation, to acquire 100% of the issued and outstanding shares of GPC. In connection with the transaction, Eon Lithium will issue 12,500,000 common shares in exchange for all of GPC's issued common shares. Upon closing, the Company is expected to have fewer than 30 million shares issued and outstanding and approximately $600,000 in working capital. The transaction is at arm's length and no finders fee is payable.

GPC holds 100% title to the Orovada Project (Project) located in Humboldt County, Nevada, USA. The Project is located adjacent to the largest lithium development in the United States, the Thacker Pass Lithium Project, which is being developed by Lithium Americas and General Motors Company. That project is a multibillion-dollar development of a sediment-hosted lithium resource situated within the McDermitt Caldera, a geological feature that straddles the Nevada-Oregon border. Also situated north of the Project on the Oregon side, within the McDermitt Caldera, is Jindalee Lithium's McDermitt Lithium Project, America's largest known lithium deposit, which is also sediment-hosted. Both projects are contained within clay-hosted lithium deposits. (The information herein disclosed regarding Lithium Americas Thacker Pass Project and Jindalee Lithiums McDermitt Project is not indicative of any mineralization on the Project).

Through its geophysical research conducted by KLM Geoscience (Nevada-based geophysical and exploration consultant), GPC has identified the potential for a brine-hosted lithium resource beneath the surface of the Project. The Project consists of 32 Bureau of Land Management placer claims and is easily accessible via Nevada State Route 293.

The acquisition represents the first step in restoring EON back to trading status. Additional projects are currently under review.

The transaction is subject to all regulatory approvals, the approval of all of the shareholders of GPC, the completion of full audits to the 2025 year end, and the completion of a National Instrument 43-101 Technical Report qualifying Orovada as a project of merit. Mr. William Feyerabend, a Consulting Geologist and Qualified Person under National Instrument 43-101 has been retained to conduct the site visit and complete the report. Mr. Feyerabend has extensive experience in generating, exploring, and developing lithium brine projects in Nevada, California, Utah, and Argentina. He has authored over 45 technical reports for properties across six countries on four continents, including claim blocks in Nevada's Lithium development epicenter,- the Clayton and Fish Lake Valleys. His expertise in lithium exploration began in 2015, with a specific focus on Esmeralda County, Nevada, and especially Clayton Valley.