LIBRA LITHIUM ANNOUNCES STRATEGIC INVESTMENT INTO BLUE RIDGE LITHIUM

TORONTO, Nov. 16, 2023 /CNW/ - Libra Lithium Corp. ("Libra Lithium" or the "Company"), a privately-held, critical minerals explorer, is pleased to announce a strategic investment into Blue Ridge Lithium Corp. ("Blue Ridge"), a new, privately-held, resource developer focused on applying direct lithium extraction ("DLE") technologies to lithium enriched brines in the USA's Appalachian Basin. Libra Lithium has acquired a 10% equity stake in Blue Ridge. In conjunction with the strategic investment, Koby Kushner, P.Eng., CFA, CEO and a director of Libra Lithium, and Christopher Brown, P.Eng., a director of Libra Lithium, have joined Blue Ridge's board of directors and technical advisory board, respectively.

"DLE represents a potential game changer for the lithium sector, and we are pleased to provide Libra shareholders with exposure through this strategic investment. DLE offers potential for lithium extraction without the need for traditional brine evaporation, lending itself to a smaller environmental footprint. Importantly, Blue Ridge is targeting brines in the USA, in a region well familiar with liquid resource extraction, and close to lithium end-users" said Koby Kushner, CEO of Libra Lithium, and newly appointed director of Blue Ridge.

"Blue Ridge is an early mover in the Appalachians. Leveraging existing oil and gas and government databases has enabled Blue Ridge to conduct a North American wide search for lithium brines, with targeting criteria focused on both brine quality and brine deliverability. More precisely, Blue Ridge is targeting shallow reservoirs with elevated Li grades (>100 mg/L Li) and high porosities (>5% porosity). This search has led Blue Ridge to the Oriskany Formation that underlies the Appalachians. The next steps are to tie up land and define a lithium resource with potential to be economically and sustainably extracted using the latest in DLE technologies" said Christopher Brown, a director of Libra Lithium, and newly appointed advisor to Blue Ridge.

Libra Lithium is focused on advancing and developing a portfolio of grassroots lithium projects in Canada. Libra Lithium's asset portfolio includes its 100%-owned Flanders North, Flanders South, Burton, Tennant, Battery Hill, Bitchu, Kivinen and Twist lithium projects, as well as an option to earn a 100% interest in the Soules Bay and Caron lithium projects. Together, these projects span approximately 80,000 ha of prospective ground near Ontario's Thunder Bay Mining District. Libra Lithium also holds a 100% interest in the Nemiscau lithium project in James Bay, Quebec, where several pegmatites, up to 100m wide, have been mapped. The Libra Lithium team comprises a mix of seasoned executives, engineers and geoscientists, with extensive experience in mining and mineral exploration, capital markets, asset management, energy, and First Nations engagement.

Koby Kushner, P.Eng., CFA
CEO & Director

www.libralithium.com
www.blueridgelithium.com

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Certain statements contained in this press release constitute "forward-looking information" as such term is ??????defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", ???????"will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect", "outlook", and similar expressions ?????as ?they relate to the Company, including, without limitation: all statements ??other ?than statements of ??historical fact may be forward-?looking information; statements relating to exploration results and whether such results are supportive of anticipated mineralization on the projects; prospects for further exploration; future exploration activities and the results thereof; Blue Ridge tying up additional land and defining a lithium resource with potential to be economically and sustainably extracted using the latest in DLE technologies; and other Company objectives; are intended to ?identify forward-looking information. Such statements reflect the ??Company's ?current views and ??intentions with respect to future ?events, and current information available to the ??Company, and ?are subject to ??certain risks, uncertainties and ?assumptions, including: availability of additional capital; successfully identifying and tying up additional land. Many ?factors could cause the actual ??results, ?performance or achievements that may be ?expressed ?or implied by such ?forward-looking information to ??vary from ?those described herein should one or more ?of these ?risks or ?uncertainties materialize. Examples of such ??risk factors ?include, without limitation: exploration results not being representative of mineralization on the projects, future exploration activities not being carried out, or if carried out, the results not being as anticipated, risks that the Company may not advance the projects, risks related ?to credit, market ???(including equity, commodity, foreign ?exchange and interest ?rate), ?liquidity, operational ??(including technology ?and ?infrastructure), reputational, ?insurance, strategic, ?regulatory, legal, ?environmental, and ?capital adequacy, and other risks and uncertainties related to the Company's prospects, properties and business; political and regulatory risks associated with mining and exploration activities and operations; the ??general business and economic ?conditions in the regions ?in which the ?Company operates; ?the ability of the ??Company to execute on key priorities, ?including the successful ?completion of ?acquisitions, ?business retention, and ??strategic plans and to attract, develop ?and retain key ?executives; ??the ability to implement business ?strategies and ?pursue business opportunities; low ?profit ?market segments; ??disruptions in or attacks (including ?cyber-attacks) on ?the Company's information ?technology, ?internet, network ??access or other voice or data ?communications systems or ?services; the evolution of ?various types ?of fraud or other ??criminal behavior to which ?the Company is exposed; the ?failure of third parties to ?comply with ?their obligations to ??the Company or its ?affiliates; the impact of new and ?changes to, or application of, ?current ?laws and regulations; ??granting of permits ?and licenses in a highly ?regulated ?business; the overall ?difficult ??litigation environment; ?increased competition; ?changes in ?foreign currency rates; ?increased ??funding costs and market volatility due to ?market illiquidity and ?competition for ?funding; the ?availability of funds ??and resources to pursue operations; ?critical accounting ?estimates and changes ?to accounting ?standards, policies, ??and methods used by the Company; ?the occurrence of ?natural and unnatural ?catastrophic ?events and claims ??resulting from such events; and risks ?related to COVID-19. Should any ?factor affect ?the Company in an unexpected manner, or ?should ???assumptions underlying the forward-looking ?information prove ?incorrect, the actual results or events may ?differ ???materially from the results or events predicted. ?Any such forward-?looking information is expressly qualified ?in its ???entirety by this cautionary statement. Moreover, ?the Company ?does not assume responsibility for the ?accuracy or ???completeness of such forward-looking ?information. The ?forward-looking information included in this ?press release ???is made as of the date of this press ?release and the ?Company undertakes no obligation to publicly ?update or revise ???any forward-looking information, ?other than as ?required by applicable law?.

SOURCE Libra Lithium