Discovery Lithium Inc. announced that it has entered into a definitive agreement with certain arms-length vendors (the Sellers) pursuant to which it proposes to acquire a 100% undivided legal and beneficial interest in 303 mineral claims comprising approximately 16,404 hectares located in the northern and eastern regions of Qubec (the Claims) including the prolific lithium district of the James Bay region. Acquisition Agreement: Pursuant to the Agreement, the company has agreed to purchase a 100% undivided legal and beneficial interest in the claims in consideration for the company making a cash payment of $25,000 and issuing an aggregate of 400,000 common shares of the company (the Shares) to the Sellers in accordance with the terms of the Agreement (the Acquisition). The Shares will be subject to a 10-month lock-up and the Sellers have agreed not to sell, dispose of or otherwise transfer the Shares until released from lock-up, with 100,000 Shares released four months from the closing date of the Acquisition and an additional 100,000 Shares released every two months thereafter.

The Shares will also be subject to a statutory hold period in accordance with applicable securities laws. Closing of the Acquisition remains subject to the satisfaction or waiver of various closing conditions, including the receipt of all necessary regulatory approvals.