(TheNewswire)

Vancouver, BC –


TheNewswire –


May 6


th


, 2024 – Recharge Resources Ltd.
(“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL50:
Frankfurt)


a leading exploration company focused
on developing lithium assets in Canada and Argentina essential for the
electric vehicle (EV) battery industry, applauds the $15 billion
Canadian investment by Honda Canada Inc. (


“Honda”


) into
electric vehicle and battery manufacturing in Alliston, Ontario. This
$15 billion initiative not only underscores the growing importance of
EVs but also highlights the critical need for lithium in the Province
of Ontario burgeoning EV battery supply chain.

Recharge is strategically positioned to support this
expanding market through its Georgia Lake North & West lithium
properties. Located approximately 160 km northeast of Thunder Bay
within the Thunder Bay Mining Division, these properties are poised to
contribute to the sustainable extraction and supply of high-quality
lithium concentrate, a vital component in EV battery production with
more than 200 gigafactories




1




seeking supplies of lithium carbonate.

The announcement was made at the Alliston Honda plant
by Toshihiro Mibe, Global President, CEO, and Representative Director
of Honda Motor Co., Ltd., Japan. Jean Marc Leclerc, President and CEO
of Honda Canada Inc., opened the news conference. Distinguished guests
included Ontario’s Premier Doug Ford, Vic Fedeli, Minister of
Economic Development, Job Creation and Trade, and Peter Bethlenfalvy,
Minister of Finance. They were joined by Canada’s Prime Minister
Justin Trudeau, Chrystia Freeland, Deputy Prime Minister and Federal
Minister of Finance, and François-Philippe Champagne, Federal
Minister of Innovation, Science, and Industry. Also present were Mayor
Richard Norcross of the Town of New Tecumseth, H.E. Ambassador Kanji
Yamanouchi from Japan, and Ian G. McKay, Ambassador of Canada to
Japan.

“We are thrilled with
announcement and the investment by Honda in EV battery supply chain
that is a testament to the rapid growth and future potential of the
electric vehicle market in Canada and globally,” said David
Greenway, President, and CEO of Recharge Resources. “Our Georgia
Lake properties hold significant promise for lithium extraction. We
are committed to advancing our projects and leveraging them to meet
the increasing demand for lithium, driven by such substantial demand
from investments in the EV sector.”

Recharge Resources is committed to advancing these
properties through responsible exploration and development strategies.
The company’s approach ensures that environmental stewardship and
community engagement are at the forefront of their operations, aiming
to establish a sustainable supply chain that supports the burgeoning
demand for lithium in the storage energy sector.

As the EV market continues to expand, the need for
domestically sourced lithium becomes increasingly critical. Recharge
Resources is at the forefront of efforts to ensure that the supply
chain for critical minerals is robust and can sustain the pace of
growth in the electric vehicle industry.

Ontario’s Premier Doug Ford
commented, ‘The investment is a game changer for the industry and a
tremendous win for Ontario that his government was supporting with
direct and indirect incentives worth $2.5 billion.


This is the first time China has been
unseated from the top spot of the global supply chain ranking, With
the Honda deal, Ontario has attracted more than $43 billion in auto
and EV investment in the last three years, the premier added.

Honda global CEO Toshihiro Mibe
commented, “The world is changing rapidly, and we must work toward
the allies in carbon neutrality to sustain the global environment.
Honda is making steady progress toward our goal to make battery
electric and electric vehicles represent 100 per cent of our vehicle
sales by 2040.”

About Georgia Lake North & West
Lithium Properties

The Georgia Lake North and West Properties are located
approximately 160 km northeast of Thunder Bay, Ontario, within the
Thunder Bay Mining Division. Recharge’s property is contiguous to
the North and West boundaries of Rock Tech Lithium’s Georgia Lake
Lithium Property and consists of two claim blocks totaling 320
hectares and 432 hectares.

Click Image To View Full Size

Adjacent to Recharge Resources Ltd.’s lithium
properties, Rock Tech Lithium’s Georgia Lake Project also plays a
significant role in the region’s lithium development landscape. Known
for its spodumene-bearing pegmatite dykes, the Georgia Lake Project
was first discovered in 1955 and has seen considerable exploration
activity by various owners over the decades. Currently, the property
features a detailed NI 43-101 Mineral Resource, which is outlined in
Rock Tech’s Preliminary Economic Assessment available on their
SEDAR+ profile as of March 15, 2021. The specifics of the Mineral
Resource are summarized in Table 1 below:

Table 1: Rock Tech Lithium


Preliminary


Mineral Resource

Cautionary Note:

Recharge management wishes to remind shareholders that
historical results or discoveries on adjacent properties should not be
assumed to reflect the mineralization on the Company’s own sites.
Geological and mineral deposits can vary significantly between
neighboring areas. Therefore, while proximity can suggest potential,
it does not guarantee similar findings. The company continues to
undertake rigorous exploration and evaluation of its properties to
establish their unique mineral profiles.

Qualified Person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA,
(CMV), a Qualified Person as defined under NI 43-101 regulations, has
reviewed the technical information that forms the basis for portions
of this news release, and has approved the disclosure herein. Mr.
Thomas has joined the Company in the capacity of COO and Director on
21 November 2023. He is a shareholder.

About Recharge Resources

Recharge Resources is a Canadian mineral exploration
company focused on exploring and developing the production of
high-value battery metals to create green, renewable energy to meet
the demands of the advancing electric vehicle market.

All Stakeholders are encouraged to follow the Company
on its social media profiles on


,


,


and


Instagram


.

On Behalf of the Board of
Directors

“


David
Greenway


”

David Greenway, CEO

For further information, please
contact:

Recharge Resources Ltd.

Joel Warawa

Phone: 778-588-5473

E-Mail: info@recharge-resources.com

Website: recharge-resources.com

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

Disclaimer for Forward-Looking
Information

Certain statements in this release
are forward-looking statements, which reflect the expectations of
management regarding Recharge’s intention to continue to identify
potential transactions and make certain corporate changes and
applications. Forward looking statements consist of statements that
are not purely historical, including any statements regarding beliefs,
plans, expectations, or intentions regarding the future. Such
statements are subject to risks and uncertainties that may cause
actual results, performance, or developments to differ materially from
those contained in the statements. No assurance can be given that any
of the events anticipated by the forward-looking statements will occur
or, if they do occur, what benefits Recharge will obtain from them.
These forward-looking statements reflect managements’ current views
and are based on certain expectations, estimates and assumptions which
may prove to be incorrect. A number of risks and uncertainties could
cause actual results to differ materially from those expressed or
implied by the forward-looking statements, including Recharge’s
results of exploration or review of properties that Recharge does
acquire. These forward-looking statements are made as of the date of
this news release and Recharge assumes no obligation to update these
forward-looking statements, or to update the reasons why actual
results differed from those projected in the forward-looking
statements, except in accordance with applicable securities
laws.

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