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Recent News

Cruz Battery Metals’ Phase II Drill Program Discovers Lithium on the Northern Section of the Solar Lithium Project in Nevada

May 18, 2022 – Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7 (“Cruz” or the “Company”) wishes to announce that it has received the final drill results from the phase II drill program on the 100-percent owned, 8,135 total contiguous acre ‘Solar Lithium Project’ in Nevada. Hole-6 was drilled more than 4 km’s (~2.5 miles) to the North of any previous hole drilled to date on the Solar Lithium Project. Drill hole-6 discovered values as high as 630 parts per million lithium (ppm Li).  To date, every hole drilled on the ‘Solar Lithium Project’ has discovered lithium, including values as high as 1,300 ppm Li (announced on January 17, 2022).

The ‘Solar Lithium Project’ directly borders American Lithium Corp.’s (LIACF – OTC, LI – TSX.v) TLC project. On May 21, 2020, American Lithium Corp. announced a maiden resource estimate, prepared by Stantec Consulting Ltd., for the TLC lithium claystone property containing 5.37 million tonnes lithium carbonate equivalent (LCE) measured & indicated with another 1.76 million tonnes LCE inferred. Cruz Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company’s properties.

Jim Nelson, President of Cruz Battery Metals stated, “We are very encouraged by the fact that lithium is present on the Northern portion of our large property, being discovered more than 4 km’s to the North of any previous hole drilled. We’ve now discovered the presence of lithium in all 6 holes drilled to date on the Solar Lithium Project, data provided by the first two phases of drilling will allow the Company to plan a larger phase III program in the second half of 2022. Cruz has a large footprint and a similar size property to our neighbor, American Lithium. Cruz’s goal is to locate and provide a new, domestically sourced, battery grade lithium deposit.”

Figure 1: Cruz Ownership Map 

Qualified Person

The technical contents of this release were approved by Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101.

About Cruz Battery Metals Corp.

Cruz currently has several projects located throughout North America. Cruz’s Nevada lithium projects consist of the 8,135-acre ‘Solar Lithium Project’ and the 240-acre ‘Clayton Valley Lithium Project’. Cruz’s three separate Ontario projects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this historic silver-cobalt producing district. Cruz’s Ontario projects, which are prospective for cobalt, silver, and diamonds, include the 988-acre Johnson cobalt project, the 6,146-acre Hector cobalt project, and the 1,458-acre Bucke cobalt project. Cruz’s BC project is the 1,542-acre War Eagle cobalt project. Cruz’s Idaho projects include the 2,211-acre ‘Idaho Cobalt Belt Project’ and the 80-acre ‘Idaho Star Cobalt Project’. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company’s properties.

If you would like to be added to Cruz’s news distribution list, please send your email address to [email protected]

Cruz Battery Metals Corp.

“James Nelson”

James Nelson

President, Chief Executive Officer, Secretary and Director

For more information regarding this news release, please contact:

James Nelson, CEO and Director

T: 604-899-9150

Toll free: 1-855-599-9150

E: [email protected]

W: www.cruzbatterymetals.com

Twitter: @CruzBattMetals

Neither the CSE 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.

Company Highlights

1

Cruz Battery Metals Encounters 700 Feet of the Targeted Potential Lithium-Bearing Claystone fron the First Hole of the Phase II Drill Program on the Solar Lithium Project in Nevada, Directly Bordering American Lithium Corp.

2

Cruz Battery Metals' Phase I Drill Program Makes a Significant New Lithium Discovery in Nevada with Values as High as 1,300 ppm/LI

3

Hole 2 of the Phase I drill program encountered a very substantial 345 feet of the targeted potential lithium-bearing claystone. Hole 1 intercepted approximately 180 feet of claystone formation starting from 10 feet below surface and Hole 3 was halted due to excessive snow in Nevada, however a solid 100 foot claystone formation was intercepted, and the hole was stopped while still in this claystone formation.

4

Cruz Battery Metals Encounters the Targeted Potential Lithium-Bearing Claystone in Every Drill Hole of the Phase I Drill Program on the 100%-owned 8,135-acre ‘Solar Lithium Project’ in Nevada, directly bordering American Lithium Corp (LI-TSX.v)

5

Lithium prices have broken out to ALL-TIME highs, and are now up over 900% since the start of 2021

6

Cruz Battery Metals' Clayton Valley Lithium Project that is strategically located in the Clayton Valley of Nevada with access to deepest parts of the only lithium brine basin in production in North America.

7

Cobalt prices are currently at MULTI-YEAR highs

8

Cobalt is one of the main elements in Lithium-Ion batteries used in Electric Vehicles (EV's) and investor sentiment towards the battery metals sector has never been stronger

9

Cruz's 2,211-acre ‘Idaho Cobalt Belt Project’ completely surrounds Jervois Mining Ltd. (JRV–TSX.v)

10

Cruz is one of the largest landholders in the historic silver-cobalt producing region of Cobalt, Ontario

11

Cruz has recently joined the Clayton Valley Lithium Advisory Committee (CVLAC)

Company Highlights

1

Cruz Battery Metals Drills a Significant New Lithium Discovery in Nevada with Values as High as 1,300 ppm/LI

2

Cruz Battery Metals Encounters the Targeted Potential Lithium-Bearing Claystone in Every Drill Hole in Nevada on the 100%-owned ~6,215-acre ‘Solar Lithium Project’ in Nevada, directly bordering American Lithium Corp (LI-TSX.v)

3

Hole 2 encountered a very substantial 345 feet of the targeted potential lithium-bearing claystone. Hole 1 intercepted approximately 180 feet of claystone formation starting from 10 feet below surface and Hole 3 was halted due to excessive snow in Nevada, however a solid 100 foot claystone formation was intercepted, and the hole was stopped while still in this claystone formation.

4

Lithium prices have broken out to ALL-TIME highs, and are now up over 500% since the start of 2021

5

Cruz Battery Metals currently has approximately $1.3 million in cash

6

Cruz Battery Metals' Clayton Valley Lithium Project that is strategically located in the Clayton Valley of Nevada with access to deepest parts of the only lithium brine basin in production in North America.

7

Cobalt prices are currently at MULTI-YEAR highs

8

Cobalt is one of the main elements in Lithium-Ion batteries used in Electric Vehicles (EV's) and investor sentiment towards the battery metals sector has never been stronger

9

Cruz has recently acquired the 2,211-acre ‘Idaho Cobalt Belt Project’ which completely surrounds Jervois Mining Ltd. (JRV–TSX.v)

10

Cruz is one of the largest landholders in the historic silver-cobalt producing region of Cobalt, Ontario in close proximity to First Cobalt Corp.'s (TSX.V-FCC) refinery, which recently received a $10 million joint-investment from the Federal and Ontario governments

11

Cruz has recently joined the Clayton Valley Lithium Advisory Committee (CVLAC)