Condor Energies Inc. announced that the Government of Kazakhstan has awarded the Company a contiguous 37,300-hectare lithium brine mining license in Kazakhstan (the "First Lithium License"). Condor holds the 100% working interest in the First Lithium License for a six-year term. A prior well drilled in the First Lithium license for hydrocarbon exploration encountered and tested brine deposits with lithium concentrations of 67 milligrams per litre in Carboniferous-aged intervals as reported by the Ministry of Geology of the Republic of Kazakhstan.

The Company intends to produce the lithium by utilizing closed-looped Direct Lithium Extraction ("DLE") technologies. Given that the Company's Lithium Licenses are not associated with legacy oil wells nor any reported presence of hydrogen sulphide, a less complex and capital intensive modular DLE technology is envisioned for the separation of lithium from the brine when compared with lithium extraction projects targeting oilfield brines. By applying proven DLE production technologies, the Company expects to have a much smaller environmental footprint than existing lithium production operations which use open-pit mining or brine evaporation ponds.

The Company is also evaluating the construction of a renewable power generation project to achieve net-zero emissions for its lithium production. The Company's initial development plan over the next twelve months includes drilling and testing two wells to verify deliverability rates, confirm the lateral extension and concentrations of lithium in the tested and untested intervals, conduct preliminary engineering for the production facilities, and prepare a mineral resources or mineral reserves report compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects. Procurement of long-lead equipment and contracting a drilling rig is underway.