Barrel Energy Inc. provided the exploration plan for 2023 for large Titan X Lithium project in Tanzania. Based on the widespread high-grade lithium values encountered over the adjacent Titan 1 Lithium project of Titan Lithium (CDSG) to the North, Barrel sampled and located similar highly anomalous Lithium-in-soil values on the Titan X project. During Third Quarter and Fourth Quarter of 2023, the Company plans to implement a detailed exploration program that will generate a top-tier Lithium target with very strong potential to provide critical lithium resources for the zero-carbon economy.

Barrel Energy's immediate plan entails further prospecting and geochemical sampling to examine and define the extent and strength of lithium values in the Titan X Project. To date, soil program has only covered a fraction of the project and revealed up to 6,100 ppm Li (1.32% Li2O) on surface. Barrel plans to aggressively expand this program to cover over ten times the initial area.

As in-house and governmental geophysical data suggest, the Titan X project is underlain by the same volcanics and sediments as the adjacent Titan 1. Soil geochemistry has been highly successful in locating and generating advanced lithium projects within the southwestern United States, an area that now plays host to several of the Lithium-in-clay deposits in North America. Within Nevada, Utah and Arizona many exploration companies have employed soil geochemistry and then, with trenching or drilling programs, encountered much higher-grade lithium values than those reported on-surface.