Volta Metals Ltd. announces that is has entered into an arm's length option agreement effective July 7, 2023, whereby the Company was granted an option to acquire a 100% interest in the Wakeman Lithium Project located approximately 80km north east of Ear Falls, Ontario. The Property consists of 70 claim cells, covering 1,438 Hectares (14.4 km). Geologically the Wakeman Property is located within the fertile Allison Lake Batholith, which is believed to be the source intrusion of the Lithium-Cesium-Tantalum (LCT) pegmatite occurrences in the emerging Lithium field.

Based on Company's technical advisor Dr. Breaks' research, the Allison Lake Batholith returned anomalous Li, Rb, and Cs levels in addition to indicator minerals indicating advanced pegmatite evolution, all permissive signatures for the development of a Lithium bearing pegmatite system. The property is easily accessible through a network of logging roads and can be worked year-round. The Company is planning to mobilize field crews to conduct initial mapping, sampling and prospecting as part of its regional Phase 1 exploration program.

The fully-funded Phase 1 exploration program is aiming to screen all 24,324 Ha (243 km2) of Volta's underexplored land package which is located in two of the emerging Lithium bearing pegmatite districts in Ontario - Allison-Root Lake and Falcon Pegmatite Fields. The aim of the current program is to complete first pass prospecting, mapping, sampling the known pegmatites in order to define target areas for detailed Phase 2 follow-up. All the properties are accessible by logging roads.

The Company commenced exploration on June 23, 2023 at the Root Lithium Project, followed by the Kim and Store Lake Properties. Field work has noted the presence of evolved metre-scale tourmaline- garnet rich pegmatites hosting well developed quartz-cores and plumose muscovite on the Root Lake Property. Samples have been submitted to ACT Labs for detailed multi-element chemical analysis following screening by a handheld Laser Induced Breakdown Spectroscope (LIBS).

The exploration teams are now prospecting newly acquired Wakeman Property.