VOLT LITHIUM CORP. ANNOUNCES MANAGEMENT CHANGE AND BEGINS TRADING ON THE TSX VENTURE EXCHANGE UNDER THE STOCK TICKER SYMBOL "VLT"

Vancouver, British Columbia, Canada, April 27, 2023 (GLOBE NEWSWIRE) -- Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE: S9G) ("Volt" or the "Company") is pleased to announce that Alex Wylie, the Company's current President and founder of Volt, will succeed Kyle Hookey as Chief Executive Officer of the Company effective immediately. Mr. Hookey will remain active as a Director on the Company's Board. In addition, we are pleased to confirm that our ticker symbol on the TSX Venture Exchange ("TSXV") will change from "CPR" to "VLT" effective at the market open today, April 27, 2023.

"On behalf of the team at Volt, I would like to thank Kyle for his leadership and stewardship of the Company over the past year and a half, as we transitioned from a copper focused entity to a lithium development and technology business," commented Alex Wylie, President and CEO of Volt. "I look forward to Kyle's continued support and commitment as a Board member, and will leverage his resource expertise as we continue to build Volt into a commercial lithium producer, which is expected by the second half of 2024."

Volt's common shares will commence trading on the TSXV under the ticker symbol "VLT", and on the OTCQB exchange in the US under the ticker symbol "VLTLF", effective at the open of market trading today, April 27, 2023. The stock ticker symbol change was made in conjunction with the Company's name change to Volt, as approved by shareholders on April 20, 2023. As part of this strategic repositioning, Volt is also pleased to unveil our new corporate website at https://voltlithium.com/.

"Trading as VLT represents the final stage of our corporate pivot to Volt and aligns our presence in the capital markets with our core business as a lithium development and technology company aiming to be North America's first commercial producer of lithium hydroxide and lithium carbonates from oilfield brine," said Alex Wylie, President and CEO of Volt. "We are looking forward to the results from our current pilot project which are expected by the end of Q2/23. The results are anticipated to demonstrate that our next generation IES-300 technology can lower operating costs by reducing reagent inputs while maintaining high lithium extraction, enabling Volt to target attractive economics that support shareholder value creation."

Once available, the Company will provide an update to the new trading symbol for the Frankfurt exchange in Germany.

About Volt

Volt is a lithium development and technology company aiming to be North America's first commercial producer of lithium hydroxide and lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management's hydrocarbon experience and existing infrastructure to extract lithium deposits from existing wells, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. With four differentiating pillars, and a proprietary Direct Lithium Extraction ("DLE") technology, Volt's innovative approach to development is focused on allowing the highest lithium recoveries with lowest costs, positioning us well for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company's continued progress on its website: https://voltlithium.com/.

Contact Information

For Investor Relations inquiries or further information, please contact:

Alex Wylie, President & CEO                                        
[email protected]                                
M: +1.403.830.5811                                        

Forward Looking Statements

This news release includes certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements about future exploration activities; the preparation and disclosure of a NI 43-101 technical report; the merits of the Rainbow Lake Project; the disclosure of additional technical information and recommended exploration activities for the Rainbow Lake Project; the financial position, assets, liabilities and loss position of Volt; Volt's future financial commitments; Volt's expected financial position and financial commitments following completion of the Acquisition; the satisfaction of closing conditions and completion of the Acquisition; the merits of the Acquisition; the ownership and management of the Company upon closing; the minerals targeted by Volt; that the Acquisition accelerates the execution of the Company's strategy; and the expected closing of the Acquisition. Forward-looking statements and forward-looking information also include any statements relating to future mineral production, liquidity, enhanced value and capital markets profile of Allied Copper, future growth potential for Allied Copper and its business, and future exploration plans. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the closing of the Acquisition; the approval of the TSXV; and the ability of the parties to complete the Acquisition as contemplated in the Agreement. Assumptions have also been made regarding, among other things, the price of copper, lithium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Allied Copper's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms, that the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; inability to obtain TSXV approval on terms acceptable to the Company and the Vendors; inability to satisfy the closing conditions of the Agreement; inability to realize the expected synergies from the Acquisition; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.