MONUMENTAL MINERALS CORP. ENTERS INTO DEFINITIVE OPTION AGREEMENT WITH LITHIUM CHILE INC. TO ACQUIRE UP TO 75% OF THE SALAR DE LAGUNA BLANCA, CHILE CESIUM SALT-LITHIUM BRINE PROJECT

News Release – Vancouver, British Columbia – March 31, 2022: Monumental Minerals Corp. (“Monumental” or the “Company”) (TSX-V: MNRL; FSE: BE5) is pleased to announce that the Company has entered into an arm’s length definitive option agreement dated March 30, 2022 (the “Option Agreement”) with Lithium Chile Inc. (“Lithium Chile”) (TSX-V: LITH) to acquire up to 75% of the 5200-hectare Salar De Laguna Blanca project (the “Laguna Project”) located near the town of San Pedro de Atacama, Chile (see news release dated March 9, 2022).

The Laguna Project is located within the prolific lithium triangle, a zone within the central Andes high desert that includes Chile, Argentina, and Bolivia. This zone is estimated to contain more than half of the world’s lithium supply beneath the many salt flats, also known as salars, that are common to the region. The Laguna Blanca property consists of 23 exploration concessions totaling 5,200 hectares, 100% owned by Lithium Chile through its wholly owned Chilean subsidiary Minera Kairos Chile Limitada. The Laguna Project includes both active and paleo salar brines and salts.

Jamil Sader, Monumental’s CEO comments:

The Laguna Blanca lithium asset has the potential to become a significant cesium-lithium deposit in the region. The Project is complimentary to the Company’s flagship Jemi heavy rare earth element project in Coahuila, Mexico, and the strength of these two assets will position Monumental to take advantage of the global shift of decarbonization, and to add significant value for shareholders. Certain members of the Company’s team are currently in Chile conducting a site visit and will be on the Jemi project in Mexico shortly thereafter.”

About Critical Metals

The US government has identified lithium and select rare earth elements (REEs) as critical metals, and there is currently a strong push to curtail the US reliance of these metals from sources that are not politically friendly. On February 22, 2022, US government announced government financial incentives for both lithium and REE producers to develop downstream processing and refining of REEs and lithium. Additionally, a bi-partisan US senate bill recently passed, which would make it illegal for US defense contractors to procure REEs from China. Monumental Minerals is positioned to play a significant role in lithium and REE stability and sustainably in the Americas.

Terms of the Option Agreement

In order to exercise the option to acquire a 75% interest in the Laguna Project, Monumental must issue common shares, make certain staged cash payments to Lithium Chile and incur exploration expenditures on the Laguna Project as follows:

  • Make cash payments of an aggregate of Cad$1,500,000 according to the following schedule:
  • $200,000 within thirty (30) days of final TSX Venture Exchange (the “Exchange”) approval of this transaction (the “Acceptance Date”);
  • $250,000 on or before the eighteen (18) month anniversary of the Acceptance Date;
  • $300,000 on or before the second anniversary of the Acceptance Date; and
  •  $750,000 on or before the third anniversary of the Acceptance Date.
  • Incur minimum expenditures on the Laguna Project of not less than an aggregate of Cad$1,500,000 according to the following schedule:
  • $200,000 on or before the first anniversary of the Acceptance Date;
  • $500,000 on or before the second anniversary of the Acceptance Date; and
  • $800,000 on or before the third anniversary of the Acceptance Date.
  • Within thirty (30) days of the Acceptance Date, issue 3,401,874 common shares of Monumental to Lithium Chile (the “Payment Shares”). The number of Payment Shares will be reduced if required by the Exchange.

Subject to the exercise of the option to acquire 75% of the Laguna Project, Lithium Chile would retain a 1% net smelter returns royalty payable upon the commercial production of the Laguna Project. In addition to the statutory hold period of four months and a day from the date of issuance, the Payment Shares will be subject to a 12-month voluntary hold period from the date of issuance. Upon Monumental earning a 75% interest in the Laguna Project, Monumental and Lithium Chile will use commercially reasonable efforts to negotiate and execute a joint venture agreement for the purpose of jointly carrying out exploration, evaluation and development of the Laguna Project.

In connection with the Option Agreement, Monumental has entered into a finder’s fee agreement (the “Finder’s Agreement”) with Blackhill Consulting Corp. (“Blackhill”), an arm’s length party, in consideration for services in transaction advisory services and introducing the Company to Lithium Chile, pursuant to which Blackhill shall receive consideration of 194,515 common shares of Monumental (the “Finder’s Shares”) if the Option Agreement is approved by the Exchange. The Finder’s Agreement and the issuance of the Finder’s Shares are subject to Exchange approval and will be subject to a four month hold period.

The transaction between Monumental and Lithium Chile is subject to Exchange approval.

Private Placement Financing

Monumental intends to complete a non-brokered private placement (the “Private Placement”) for aggregate gross proceeds of up to $5,000,000. The Private Placement will consist of units (each a “Unit”) at a price of $0.45 per Unit. Each Unit will consist of one common share of the Company (“Shares”) and one-half of one transferable common share purchase warrant of the Company (“Warrants”). Each whole Warrant will entitle the holder to acquire one Share at a price of $0.65 per Share for a period of two years following the closing of the Private Placement.

The Company intends to use the net proceeds raised from the Private Placement for: cash payments related to the Option Agreement, to fund its maintenance and exploration expenses on its properties (including the Laguna Project, the Jemi Project, and the Weyman Project), and for general corporate purposes and working capital.

The Private Placement is subject to Exchange approval and all securities issued are subject to a four month hold period. Finder’s fees may be payable in connection with the Private Placement, all in accordance with the policies of the Exchange and applicable securities laws.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  

About Monumental Minerals Corp.

Monumental Minerals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in the critical and electric metals sector. The Company’s flagship asset is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an option to acquire 100% of the 3,650-hectare project. The Company has an option to acquire a 100% interest and title to the Weyman property located in the Kamloops and Nicola Mining Divisions and in the Thompson Nicola Regional District, British Columbia.

On behalf of the Board of Directors,

/s/ “Jamil Sader”

Jamil Sader, Chief Executive Officer and Director

Contact Information:

Email: jsader@monumentalminerals.com

Or

Email: msali@monumentalminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Forward Looking Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, obtaining Exchange approval and completing the proposed transaction with Lithium Chile, completing the Private Placement and the expected use of proceeds, the potential plans for the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, loss of key employees, consultants, or directors, failure to maintain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

MONUMENTAL MINERALS CORP. ANNOUNCES RECONNAISSANCE DATES FOR THE JEMI HEAVY RARE EARTH PROJECT, MEXICO AND THE LAGUNA BLANCA CESIUM-LITHIUM BRINE PROJECT, CHILE

News Release – Vancouver, British Columbia – March 21, 2022: Monumental Minerals Corp. (“Monumental” or the “Company”) (TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF) is pleased to announce that the Company has will be conducting site visits at the Jemi heavy rare earth (HREE) Project and the Salar De Laguna Blanca Cesium-Lithium Brine Salar Project (the “Laguna Project”) during the month of April.

The site visit will field-check airborne radiometric and magnetic geophysical features that relate to peralkaline rocks and associated ore-grade concentrations of REEs in order to determine high-priority drilling targets. The company expects initial data for internal use from this recent survey to be received this week. Surface rock chip samples will be collected for geochemical and mineralogical testing. While on-site, the Company will also coordinate meetings with local communities and stakeholders as part of Monumental’s on-going commitment to ESG.

The Jemi Project hosts numerous rare earth element (REE) occurrences containing potentially economic concentrations of the high value magnetic REEs including the heavy rare earths (HREEs) dysprosium (Dy) and terbium (Tb), and the light rare earth elements (LREE) neodymium (Nd), praseodymium (Pr). The Project also contains associated tantalum (Ta), niobium (Nb), and zirconium (Zr). Jemi sits within the North American Alkaline Igneous Belt, an under explored north-south trend over 3000 km long of alkaline igneous rocks and carbonatites that are host to numerous REE, gold and other critical element deposits.

The REE mineralization discovered to date at Jemi exhibits characteristics and mineralogy consistent with peralkaline intrusion related deposits, which represent an important potentially economic style for the highest value HREE.  Deposits of this type are being explored and prepared for development in Australia, Europe and North America.

Jamil Sader, Monumental’s CEO and Director comments:

Our site visits in April at both Monumental’s Jemi heavy rare earth project, and the Laguna Blanca cesium-lithium brine project will allow us to prepare well-planned exploration programs, including drilling, at both projects. We are excided to get boots-on-the-ground and to further demonstrate the value that both of these projects have in the critical metals space”

The Company has entered into an arm’s length letter of intent (“LOI”) with Lithium Chile Inc. (“Lithium Chile”) (TSX-V: LITH) to acquire up to 75% of the 5200-hectare Salar De Laguna Blanca (see Monumental press release dated March 9, 2022), and a site visit will be undertaken as part of Monumental’s due diligence process. The site visit will be attended by both Lithium Chile and the Company’s technical teams to confirm access to site, and to collect representative surface brine and sediment samples for independent geochemical and mineralogical testing (where applicable). The mineralogy will help to establish the mineral phases in the sediments that are hosting both cesium and lithium. The team will also assess any further surface exploration work required, locations for drilling, and drilling contractors.


The Company plans to meet with Summit Nanotech in Antofagasta, Chile to discuss their direct lithium extraction (DLE) technology, including pilot plant, and full-scale modular units that could be deployed to site. Summit is developing 1000 m3/day modular units designed to double yield, reduce climate pollution, minimize the use of chemicals and freshwater, and reduce waste by 90% compared to traditional evaporation lithium extraction methods, driving global ESG standards. DLE technology is currently in operation at lithium brine projects in Argentina and China, with several more at the construction and pilot stage in Argentina and the USA.

The Laguna Project is an early exploration stage project located within the prolific lithium triangle, a zone within the central Andes high desert that includes Chile, Argentina, and Bolivia. This zone is estimated to contain more than half of the world’s lithium supply beneath the many salt flats, also known as salars, that are common to the region. The Laguna Blanca property consists of 23 exploration concessions totaling 5,200 hectares, 100% owned by Lithium Chile through its wholly-owned Chilean subsidiary Minera Kairos Chile Limitada (“Minera Kairos”). The Laguna Project is accessible from the town of San Pedro de Atacama, 80 kilometres to the west via the paved road 27CH to the north end of Salar de Aguas Calientes then a truck accessible trail heading north to the interior of the property.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  

About Monumental Minerals Corp.

Monumental Minerals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in the critical and electric metals sector. The Company’s flagship asset is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an option to acquire 100% of the 3,650-hectare project. The Company has an option to acquire a 100% interest and title to the Weyman property located in the Kamloops and Nicola Mining Divisions and in the Thompson Nicola Regional District, British Columbia.

On behalf of the Board of Directors,

/s/ “Jamil Sader”

Jamil Sader, Chief Executive Officer and Director

Contact Information:

Email: jsader@monumentalminerals.com

Or

Email: msali@monumentalminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, the execution of the Definitive Agreement, obtaining TSX Venture Exchange approval and completing the proposed transaction with Lithium Chile, potential plans for the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, loss of key employees, consultants, or directors, failure to maintain community acceptance, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

MONUMENTAL MINERALS CORP. SIGNS LETTER OF INTENT TO ACQUIRE UP TO 75% OF THE DRILL READY SALAR DE LAGUNA BLANCA, CHILE CESIUM SALT-LITHIUM BRINE PROJECT FROM LITHIUM CHILE INC.

NEAR SURFACE SEDIMENT SAMPLE ASSAYING RETURNS 692 PPM CESIUM AND 1,450 PPM LITHIUM

News Release – Vancouver, British Columbia –March 9, 2022: Monumental Minerals Corp. (“Monumental” or the “Company”) (TSX-V: MNRL; FSE: BE5) is pleased to announce that the Company has entered into an arm’s length letter of intent (“LOI”) with Lithium Chile Inc. (“Lithium Chile”) (TSX-V: LITH : OTCQB: LTMCF) to acquire up to 75% of the 5200-hectare Salar De Laguna Blanca project (the “Laguna Project”) located near the town of San Pedro de Atacama, Chile.

The Laguna Project is located within the prolific lithium triangle, a zone within the central Andes high desert that includes Chile, Argentina, and Bolivia. This zone is estimated to contain more than half of the world’s lithium supply beneath the many salt flats, also known as salars, that are common to the region. The Laguna Blanca property consists of 23 exploration concessions totaling 5,200 hectares, 100% owned by Lithium Chile through its wholly owned Chilean subsidiary Minera Kairos Chile Limitada (“Minera Kairos”) (Fig. 1). The Laguna Project includes both active and paleo salar brines and salts (Fig. 2).

The Laguna Project is an early exploration stage project that is accessible from the town of San Pedro de Atacama, 80 kilometres to the west via the paved road 27CH to the north end of Salar de Aguas Calientes then a truck accessible trail heading north to the interior of the property. Travel time from San Pedro de Atacama to the property is approximately 1 hour and 30 minutes.

Between April 2018 and June 2021 Minera Kairos completed preliminary reconnaissance and detailed geochemical and geophysical surveys:

  • Lithium Chile reported the results of a program of follow up sediment geochemical and surface water surveys covered the bulk of the active salar – laguna complex and adjacent paleo salts and sediments. Laboratory analysis of the sediment samples range from 75 – 692 ppm cesium and 250 – 1,450 ppm lithium. The results outline a large area of cesium enrichment of about 9 km2, which is open to the NE and SE. Water samples taken from the surface lagunas and subsurface samples from shallow 0.5 – 1.3 m deep hand auger holes range from 20 – 40 mg/l cesium plus 780 – 1,230 mg/l lithium.
  • A 13-line kilometer reconnaissance TEM geophysical survey cover the active salar-laguna complex and its adjacent SW flank. This survey identified a 10 km2 high conductivity TEM anomaly having 100-200 m modelled thickness that underlies the SW flank of the lithium – cesium anomaly.
  • Bulk brine samples are currently being tested for lithium extraction.

The Company and its Qualified Persons have been unable to verify the historical sample collection methodology or analytical results reported by Lithium Chile, but believe the historical results are relevant and reliable. Future work by Monumental is planned, including a site visit and verification sampling is required to verify the historical results.

Jamil Sader, Monumental’s CEO and a Director comments:

The Laguna Blanca lithium asset is a strategic acquisition for Monumental Minerals and has the potential to become a significant cesium-lithium deposit in the region. Lithium grades determined to date are consistent with those from mines currently in production in the region, and it has the added benefit of potentially economic cesium, a critical metal necessary for 5G communication. The Project is complimentary to the Company’s flagship Jemi heavy rare earth element project in Coahuila, Mexico, and the strength of these two assets well position Monumental to take advantage of the global shift of decarbonization, and to add significant value for shareholders.”

Figure 1. Laguna Blanca Project Location and Surficial Geology

                                                         

About Cesium

Currently, almost the entire global cesium supply comes from the Tanco mine, a hard rock deposit in Manitoba, Canada. The largest consumer of cesium is the oil and gas exploration sector. Cesium formate is added to drilling fluids to lubricate drill bits, to bring rock cuttings to the surface, and to prevent blowouts in high pressure wells. Cesium is also critical in the 5G communication revolution, as it is critical in atomic clocks that keep vast communication networks in sync for internet of things (IoT) functions.

About Lithium

Over the past year, the spot price for lithium has increased by over 550% (Fig. 3). The price of the metal has out paced every other metal. The only other commodities with a similar price appreciation trajectory are rare earth elements used in the production of high-performance magnets for electric motors (neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb)).  The driver for the lithium price explosion is widely believed to be due to increases in demand for the manufacturing of EV batteries, as automakers transition their fleets to EVs. According to Adamas Intelligence, a record 25,921 tonnes of lithium carbonate equivalent (LCE) were used to manufacture EV batteries for passenger vehicles globally in December 2021.

About Critical Metals

Figure 3. The lithium carbonate spot price over the past 12 months has appreciated by over 550%. Price unit is yuan/tonne.

The US government has identified lithium and select rare earth elements (REEs) as critical metals, and there is currently a strong push to curtail the US reliance of these metals from sources that are not politically friendly. On February 22, 2022, US President Joe Biden announced government financial incentives for both lithium and REE producers to develop downstream processing and refining of REEs and lithium. Additionally, a bi-partisan US senate bill recently passed, which would make it illegal for US defense contractors to procure REEs from China. Monumental Minerals is positioned to play a significant role in lithium and REE stability and sustainably in the Americas.

Terms of the Proposed Transaction

Subject to the execution of a definitive agreement (“Definitive Agreement”), Monumental will have the option to earn-in up to a 75% interest in the Laguna Project by issuing to Lithium Chile that number of common shares of Monumental that would result in Lithium Chile holding, on a non-diluted basis (after any potential financing in connection with or related to this potential transaction), 9.9% of the issue and outstanding common shares of Monumental (the “Payment Shares”). In addition, Monumental must make certain staged cash payments to Lithium Chile and incur exploration expenditures on the Laguna Project as follows:

  • Make cash payments of an aggregate of C$1,500,000 according to the following schedule:
  • $200,000 within fifteen (15) days of final TSX Venture Exchange approval of this proposed transaction (the “Acceptance Date”);
  • $250,000 on or before the eighteen (18) month anniversary of the Acceptance Date;
  • $300,000 on or before the second anniversary of the Acceptance Date; and
  •  $750,000 on or before the third anniversary of the Acceptance Date.
  • Incur minimum expenditures on the Laguna Project of not less than an aggregate of C$1,500,000 according to the following schedule:
  • $200,000 on or before the first anniversary of the Acceptance Date;
  • $500,000 on or before the second anniversary of the Acceptance Date; and
  • $800,000 on or before the third anniversary of the Acceptance Date.

Subject to the exercise of the option to acquire 75% of the Laguna Project, Lithium Chile would retain a 1% net smelter returns royalty payable upon the commercial production of the Laguna Project. In addition to the statutory hold period of four months and a day from the date of issuance, the Payment Shares will be subject to a 12-month voluntary hold period from the date of issuance. Upon Monumental earning a 75% interest in the Laguna Project, Monumental and Lithium Chile will use commercially reasonable efforts to negotiate and execute a joint venture agreement for the purpose of jointly carrying out exploration, evaluation and development of the Laguna Project.

Further details regarding the proposed transaction with Lithium Chile will be provided in a comprehensive news release if, and when, the parties enter into the Definitive Agreement. The proposed transaction between Monumental and Lithium Chile is subject to, among other things, the execution of the Definitive Agreement and TSX Venture Exchange approval.

Methodology and QA/QC

All samples were reportedly collected by Lithium Chile staff. Each salt and sediment sample consisted of 1 -1.5 kg of unconsolidated material taken from 0.5 – 1.2m deep holes using a hand-held auger that were bagged and sealed on site. All samples were delivered by Lithium Chile’s staff to the ALS prep-lab in La Serena for processing. ALS subsequently shipped a 30g subsample to their laboratory in Lima, Peru where they were analyzed for 51 elements, including 2 lithium and cesium, by the ICP-MS technique following Agua Regia digestion. Over limit (>500ppm Cs) sample were re-run using the ICP-MS81 technique following lithium borate fusion. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Monumental Minerals, Lithium Chile, Minera Kairos and the QP.

The Company and its Qualified Persons have been unable to verify the historical sample collection methodology or analytical results, but believe the historical results are relevant. Future work by Monumental is planned, including a site visit and verification sampling is required to verify the historical results.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  

About Monumental Minerals Corp.

Monumental Minerals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in the critical and electric metals sector. The Company’s flagship asset is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an option to acquire 100% of the 3,650-hectare project. The Company has an option to acquire a 100% interest and title to the Weyman property located in the Kamloops and Nicola Mining Divisions and in the Thompson Nicola Regional District, British Columbia.

On behalf of the Board of Directors,

/s/ “Jamil Sader”

Jamil Sader, Chief Executive Officer and Director

Contact Information:

Email: jsader@monumentalminerals.com

Or

Email: msali@monumentalminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, the execution of the Definitive Agreement, obtaining TSX Venture Exchange approval and completing the proposed transaction with Lithium Chile, potential plans for the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, loss of key employees, consultants, or directors, failure to maintain community acceptance, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.