Vancouver, British Columbia--(Newsfile Corp. - March 12, 2025) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce that it has closed a first tranche of the previously announced non-brokered private placement announced on February 25, 2025. The first Tranche of the private placement consists of 26,000,000 million non-flow-through common shares (the "Common Shares") at a price of $0.03 per common share for gross proceeds of $780,000.

A second Tranche of the private placement is expected to close approximately at the end of March. The second Tranche will consist of 9,500,000 Common Shares at a price of $0.03 per Common Share for gross proceeds of $285,000, and 28,000,000 flow-through shares (the "FT Shares") at a price of $0.0459 per share for gross proceeds of $1,285,000. Total gross proceeds from both tranches of the private placements will be $2,350,020.

Gross proceeds from the sale of the Common Shares will be used for general corporate purposes. The gross proceeds from the sale of the FT Shares will be used for general exploration expenditures on the Jackpot Lithium Project located approximately 140 km north-east of Thunder Bay, Ontario (see Figure 1). An exploration program on the property will incorporate exploration drilling at the Casino Royale Zone and targets to the north of Casino Royale, as well as a prospecting and sampling program to cover the entire Jackpot property package.

The sole subscriber in both Tranches of the private placement is Interway International LLC, an arm's length party to the Company. If the second Tranche is completed as expected, Interway will become an insider of the Company by reason of holding more than 10% of the then-outstanding common shares of the Company on a non-diluted basis. There is no assurance or guarantee that the second Tranche of the private placement will complete as described or at all.

The FT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada, the "Tax Act") and the Company will ensure that expenditures will qualify as "flow-through critical mineral mining expenditure" (as defined in subsection 127(9) of Tax Act).

All securities issued are subject to a statutory hold period of 4 months plus one day from the date of issuance in accordance with applicable securities legislation.

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Completion of the Financing is subject to TSXV approval.

J.C. St-Amour, President of Imagine Lithium, commented: "We are pleased to have strong support from investors who see the lithium potential for the Jackpot property. The project's proximity to infrastructure in the Province of Ontario, including highways, workforce and the major port of Thunder Bay differentiates it from other lithium projects in North America. These funds will allow us to continue our exploration efforts to grow as well pursue consolidation strategies to create shareholder value."

Figure 1: Jackpot property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/244330_b2c3eee084608b42_001full.jpg

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares. The Property contains NI 43-101 compliant Mineral Resources of 3.1 Mt grading 0.85% Li₂O in the Indicated category and 5.3 Mt grading 0.91% Li₂O in the Inferred category, as well as a number of other known pegmatite showings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

Not for distribution to U.S. news wire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244330

Vancouver, British Columbia--(Newsfile Corp. - February 25, 2025) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce a non-brokered private placement of 28,000,000 flow-through shares (the "FT Shares") at a price of $0.0459 per share for gross proceeds of $1,285,000, representing a premium of 83.6% over the previous closing price of the Company's common shares on the TSX Venture Exchange. In addition, the Company will complete a private placement of 35,500,000 million non-flow-through common shares (the "Common Shares") at a price of $0.03 per common share for gross proceeds of $1,065,000. Total gross proceeds from the private placements will be $2,350,020.

The gross proceeds from the sale of the FT Shares will be used for general exploration expenditures on the Jackpot Lithium Project located approximately 140 km north-east of Thunder Bay, Ontario (see Figure 1). An exploration program on the property will incorporate exploration drilling at the Casino Royale Zone and targets to the north of Casino Royale, as well as a prospecting and sampling program to cover the entire Jackpot property package.

The FT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada, the "Tax Act") and expenditures will qualify as "flow-through critical mineral mining expenditure" (as defined in subsection 127(9) of Tax Act).

Gross proceeds from the sale of the Common Shares will be used for general corporate purposes. The private placements are expected to close on or about March 7, 2025.

All securities issued are subject to a statutory hold period of 4 months plus one day from the date of issuance in accordance with applicable securities legislation.

The Financing is subject to TSXV approval.

J.C. St-Amour, President of Imagine Lithium, commented: "We are pleased to have strong support from investors who see the lithium potential for the Jackpot property, which currently hosts 3.1 Mt of indicated and 5.3 Mt of inferred lithium resources. The project's proximity to infrastructure in the Province of Ontario, including highways, workforce and the major port of Thunder Bay differentiates it from other lithium projects in North America. These funds will allow us to continue our exploration efforts to grow resources as well pursue consolidation strategies to create shareholder value."

Figure 1: Jackpot property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/242268_f182cb3c54b54b95_001full.jpg

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares. The Property contains NI 43-101 compliant Mineral Resources of 3.1 Mt grading 0.85% Li₂O in the Indicated category and 5.3 Mt grading 0.91% Li₂O in the Inferred category, as well as a number of other known pegmatite showings.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

Not for distribution to U.S. news wire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242268

Vancouver, British Columbia--(Newsfile Corp. - April 28, 2023) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce that, further to its news release dated April 6, 2023, it has closed a non-brokered private placement of 48.82 million flow-through shares (the "FT Shares") at a price of $0.1725 per share for gross proceeds of $8,421,450. This represents a 92% premium over the previous closing price of the Company's common shares on the TSX Venture Exchange. In addition, the Company has closed a private placement of 6.18 million non-flow-through common shares (the "Common Shares") at a price of $0.115 per common share for gross proceeds of $710,700. Total gross proceeds from the private placements will be $9,132,150.

The gross proceeds from the sale of the FT Shares will be used for further exploration drilling and general exploration expenditures on the Jackpot Lithium Project located approximately 140 km north-east of Thunder Bay, Ontario (see Figure 1). An exploration program on the property will incorporate expansion drilling at the Jackpot Main Zone, exploration drilling on additional targets beyond the Main Zone, as well as a prospecting and sampling program to cover the entire Jackpot property package.

The FT Shares qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada, the "Tax Act") and expenditures will qualify as "flow-through critical mineral mining expenditure" (as defined in subsection 127(9) of Tax Act).

J.C. St-Amour, President and CEO of Imagine, commented, "This financing illustrates investor confidence in the Jackpot Lithium Project. The project's proximity to infrastructure and accessibility makes it a stand-out from many lithium assets in Canada. The funds raised in this financing will allow us to expand and accelerate our exploration activities with additional drilling, sampling, and prospecting planned over the next two years. The Jackpot Main Zone remains open with significant expansion potential and a number of drill-ready lithium showings have been identified. In addition, the broader property package contains numerous granitic pegmatites that will also be tested in this program. An exploration program of this size can truly unveil the potential of Jackpot."

Gross proceeds from the sale of Common Shares will be used for general corporate purposes.

Figure 1: Jackpot Property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/164099_4565b601d4c87a2b_001full.jpg

Qualified Person

The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the TransCanada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li₂O and 750,000 tons at 1.38% Li₂O*.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD

"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164099

Vancouver, British Columbia--(Newsfile Corp. - April 6, 2023) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce a non-brokered private placement of 48.82 million flow-through shares (the "FT Shares") at a price of $0.1725 per share for gross proceeds of $8,421,450. This represents a premium of 73% over the previous closing price of the Company's common shares on the TSX Venture Exchange. In addition, the Company will complete a private placement of 6.18 million non-flow-through common shares (the "Common Shares") at a price of $0.115 per common share for gross proceeds of $710,700. Total gross proceeds from the private placements will be $9,132,150.

The gross proceeds from the sale of the FT Shares will be used for general exploration expenditures on the Jackpot Lithium Project located approximately 140 km north-east of Thunder Bay, Ontario (see Figure 1). An exploration program on the property will incorporate expansion drilling at the Jackpot Main Zone, exploration drilling on additional targets beyond the Main Zone, as well as a prospecting and sampling program to cover the entire Jackpot property package.

The FT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada, the "Tax Act") and expenditures will qualify as "flow-through critical mineral mining expenditure" (as defined in subsection 127(9) of Tax Act).

J.C. St-Amour, President and CEO of Imagine, commented, "This financing illustrates investor confidence in our Jackpot Lithium Project. Our project's proximity to infrastructure and general accessibility makes this project a stand-out from many lithium assets in Canada. The funds raised in this financing will allow us to expand and accelerate our exploration activities with additional drilling, sampling, and prospecting planned over the next two years. The Jackpot Main Zone remains open with significant expansion potential and a number of drill-ready lithium showings have been identified. In addition, the broader property package contains numerous granitic pegmatites that will also be tested in this program. An exploration program of this size can truly unveil the potential at Jackpot."

Gross proceeds from the sale of Common Shares will be used for general corporate purposes. The private placements are expected to close on or about April 26, 2023.

Figure 1: Jackpot Property located next to Trans Canada Highway, power, port, railroad and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/161502_310353ba24cc1b29_001full.jpg

Qualified Person

The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD

"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161502