Imagine Lithium Expands Land Holdings by 45% at Jackpot Project

Imagine Lithium Inc. has announced a significant expansion of its land holdings at the Jackpot Lithium Project, located near Thunder Bay, Ontario. The company has increased its exploration area by 45% through the acquisition of an additional 8,449 hectares in the Georgia Lake Pegmatite Field (GLPF). This strategic move consolidates Imagine’s position as the largest landholder in the region.

The newly acquired land, referred to as the ‘SPOD Lithium Option’, brings the total area for the Jackpot Project to 27,597 hectares. This continuous land position connects the NI 43-101 compliant Jackpot deposit with Rock Tech Lithium’s Nama Creek deposit to the north, enhancing the company’s exploration potential.

Simone Suen, President of Imagine Lithium, expressed enthusiasm about the acquisition, stating, “We are pleased to announce the acquisition of a substantial land package for our Jackpot Project, consolidating significantly more prospective ground.” She emphasized that this expansion will bolster synergies with Rock Tech Lithium’s project and strengthen Imagine’s efforts to enhance its Mineral Resource inventory, which currently stands at 3.1 million tonnes indicated and 5.3 million tonnes inferred, with lithium oxide grades of 0.85% and 0.91%, respectively.

Under the terms of the agreement, effective December 5, 2025, Imagine Lithium will purchase 100% of the North Nipigon Lithium Property from Spod Lithium Corp. The acquisition will involve a cash payment of CAD$30,000 for the 18 multi-cell mineral claims. These claims will be subject to a 2% net smelter royalty held by Jadeite Capital Ltd.

Strategic Importance of the Acquisition

The addition of this land package enhances future exploration plans and underscores the potential for discovering multiple open-pit, hard-rock lithium deposits in the Georgia Lake Pegmatite Field. The previously reported mineral resource estimate outlines two conceptual pit shells—Jackpot and Casino Royale—both showing promising continuity and potential for resource expansion. Resources remain open along strike and to depth.

The resource highlights, as per the NI 43-101 Mineral Resource Estimate, include:
– Indicated Resource: 3.1 million tonnes grading 0.85% Li2O (26,200 tonnes contained Li2O)
– Inferred Resource: 5.3 million tonnes grading 0.91% Li2O (49,500 tonnes contained Li2O)
– Cut-off Grade: 0.30% Li2O (pit-constrained)
– Recovery: 81.5% Li2O, based on metallurgical testing by SGS

The early metallurgical results indicate that the Jackpot mineralization can yield a high-grade spodumene concentrate suitable for the lithium battery supply chain. SGS Lakefield conducted metallurgical testing on a 200 kg composite sample, achieving a spodumene concentrate with 6.0% Li2O and an impressive 81.5%% recovery rate.

Options Granted to Key Personnel

In addition to the land acquisition, Imagine Lithium has granted 7,200,000 options to an officer and director of the company. These options are exercisable at $0.05 for a period of five years from the date of grant, following the company’s stock option plan.

The technical content of this announcement was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.

Imagine Lithium Inc. continues to focus on seeking and acquiring world-class mineral projects. The company’s Jackpot lithium property, located approximately 140 km NNE of Thunder Bay, is strategically positioned near essential infrastructure, including roads, power sources, and ports.

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Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-looking statements in this announcement reflect management’s current expectations and are subject to various risks and uncertainties. Investors are advised that these statements are not guarantees of future performance.