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News Release – Vancouver, British Columbia February 6, 2023: Monumental Minerals Corp. (“Monumental Minerals” or the “Company”) (TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF) is pleased to announce the signing of an agreement with the Ayquina-Turi Indigenous Community for land and exploration access at the Salar de Turi lithium project (the “Turi Project“).  Turi is located about 60 km northeast from the city of Calama, Chile, within the lithium triangle.

Dr. Jamil Sader, CEO comments:

Monumental Minerals is committed to a respectful, transparent and a mutually beneficial relationship with the Ayquina – Turi Indigenous Community and we thank them for permitting us to explore and drill on their ancestral lands. It has been a pleasure working with the community, and we look forward to continuing to strengthen our relationship. Social governance and community engagement is a key Monumental Minerals’ policy, and we pledge to work with all stakeholders.”

The Ayquina-Turi Community comments:

“The Ayquina-Turi Community has reached an agreement with Monumental Minerals to continue the drilling of two wells in the Salar de Turi. This agreement is made in the context of mutual respect of the parties, and the commitment to local indigenous communities, which are the basis for developing a lasting relationship”.   

The Turi Project is situated 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 Turi Project is comprised of 40 exploration concessions totaling 8,500 hectares, 100% owned by Lithium Chile Inc. (TSX-V: LITH) through its wholly owned Chilean subsidiary Minera Kairos Chile Limitada. Monumental Minerals has the option to acquire a 50.01% interest and title in and to the Turi Project. The Turi Project is accessible from the city of Calama (60 km to the southwest) via the paved roads 21CH, and B-165 and is close to infrastructure. Travel time from Calama to the Turi Project is approximately 1 hour (see news releases dated October 6, 2022 and August 23, 2022 for additional details and map).

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 Heavy Rare Earth Element 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 also has an option to acquire a 75% interest and title to the Laguna Blanca project located in Chile and an option to acquire a 50.01% interest and title to the Turi Project.

On behalf of the Board of Directors,

/s/ “Jamil Sader”

Jamil Sader, Chief Executive Officer and Director

Contact Information:

Dr. Jamil Sader, CEO

Email: [email protected]

Mr. Maximilian Sali, VP Corporate Development

Email: [email protected]

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.

Cautionary Statement Regarding Forward Looking Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, potential exploration activities on the Turi Project, relations with Ayquina-Turi Indigenous Community, 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 and information 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 those filed under the Company’s profile on SEDAR at 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, general economic, market, business conditions, failure to maintain all necessary government permits, equipment failures, adverse weather and climate events, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, decrease in the price of rare earth elements, lithium, cesium and other metals, restriction on labour and international travel and supply chains, approvals and authorizations, and failure to maintain community acceptance (including Indigenous peoples). The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.