Edison Lithium Locates Historical Drill Core During Property Visit and Provides Update on Proposed Acquisition of Joutel North-West and Gagne Gold Properties

Vancouver, June 1, 2026 - Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to provide a further update to its news releases dated March 2, 2026 and April 30, 2026 regarding its property option agreement (the "Agreement"), effective February 27, 2026, with Globex Mining Enterprises Inc. ("Globex") to earn a 100% interest in and to the Joutel North-West gold and Gagne gold-copper properties (together, the "Properties"), subject to a 3% Gross Metal Royalty ("GMR") on the Properties retained by Globex. Edison retains a right of first refusal to purchase all or any portion of the GMR from Globex on the same terms pursuant to a bona fide third-party offer (the "Transaction"). The Transaction remains subject to certain conditions, including the preparation of the technical report and the receipt of final acceptance from the TSX Venture Exchange.

The Company has engaged Steven Lauzier, P.Geo. OGQ1430., to prepare an independent technical report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") in respect of the Properties. The NI 43-101 technical report is anticipated to be completed in early June 2026. In connection with the preparation of the technical report, a site visit by Steven Lauzier to the Properties and the storage location of Orford Mining's (now Alamos Gold) 2022-23 drill cores occurred between May 18 and May 20, 2026. Roger Dahn, P.Geo., and a Director of the Company, joined the site visit and provided the pictures in this news release confirming drill core has been located.

As Previously Highlighted (Edison News Release dated March 2, 2026)

• The Properties are situated geologically along the South Break of the Casa Berardi Structural zone adjacent to the several past producing mines including Agnico Eagle's first gold mine, the Eagle - Telbel-Eagle West deposits which had historic production of approximately 1.1 million ounces of gold from 6.2 million tonnes grading 5.8 g/t. Agnico closed the Eagle-Telbel mine in 1993.

• Orford Mining last worked the Joutel North-West property in 2022-2023, principally focused on the South Gold Zone. Some of the Orford Mining drilling highlights from the South Gold Zone are shown below and in Site Visit Photos 1, 2 and 3. All intersections reported are based on drilled width and have not been converted to the true width.:

  • 23-JE-004 returned 30.1 m @ 1.1g/t Au starting at 128.8 m downhole (also see Orford Mining news release dated February 21, 2022); Site Visit Photo #2

  • 23-JE-015 returned 54.7 m @ 1.1 g/t Au starting at 81.1m downhole (also see Globex news release dated March 30, 2023)

  • 22-JE-003 returned 20.64 m @ 1.11 g/t Au starting at 84.83 m downhole and includes 0.64 m @ 14.7 g/t Au (see Globex news release dated January 23, 2023)

  • 23-JE-008 returned 15.7 m @ 1.7 g/t Au starting at 21.7 m downhole and 14.2 m @ 2.2g/t Au starting at 61.9 m downhole (see Globex news release dated April 20, 2023); Site Visit Photo #3

Site Photo #1: Core Storage Site, May 18^th by R. Dahn

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3852/299476_0ac599bb7463fbfc_002full.jpg

Site Photo #2: Hole 23-JE-04 (128.8 to 158.9 m) 30.1 m at 1.1 g/t Gold, May 19^th by R. Dahn

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3852/299476_0ac599bb7463fbfc_003full.jpg

Site Photo #3: Hole 23-JE-08 (61.9 to 76.1 m) 14.2 m at 2.2 g/t Gold, May 19^th by R. Dahn

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3852/299476_0ac599bb7463fbfc_004full.jpg

Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Roger Dahn, P.Geo., Director of the Company and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Edison Lithium Corp.

Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.

On behalf of the Board of Directors:

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

Forward-Looking Statements Caution: This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). Forward-looking statements are generally identifiable by words such as "anticipate", "believe", "could", "estimate", "expect", "forecast", "intend", "may", "plan", "potential", "propose", "schedule", "should", "target", "will" and similar expressions, or by statements that events or conditions "may", "will" or "would" occur.

Forward-looking statements in this news release include, but are not limited to, statements regarding: the Company's ability to satisfy the terms, conditions and obligations under the Agreement; the anticipated timing and ability of the Company to make required cash payments, share issuances and incur or fund exploration expenditures in order to acquire the Properties; the anticipated timing and completion of the independent technical report; the Company's ability to fund its obligations and planned activities; and the ability of the Company to obtain all necessary approvals, including the final acceptance of the Agreement by the TSX Venture Exchange.

Forward-looking statements are based on management's reasonable assumptions, estimates, expectations and opinions as of the date of this news release. Such assumptions include, without limitation: that the parties will be able to perform their respective obligations under the Agreement in a timely manner; that the Company will be able to obtain all required approvals and maintain good standing under the Agreement; that exploration and related activities can be planned and carried out as anticipated; that required permits, authorizations and access can be obtained on terms and timelines acceptable to the Company; that commodity prices, foreign exchange rates, general economic conditions, and capital markets will be supportive of the Company's plans; that the Company will be able to obtain financing when required on reasonable terms; and that no material adverse changes will occur with respect to the Company's business, assets or the Properties.

The forward-looking statements in this news release also reflect the Company's current understanding of the Properties based on information available to it as of the date hereof. The property is at an early stage of exploration and, until exploration work is completed and results are analyzed and verified, the Company cannot confirm the merits of the Properties, including whether the property hosts mineralization of interest. Any references in this news release to the property's "potential", "prospectivity" or "exploration upside" are inherently speculative and based on incomplete information and assumptions that may prove incorrect. The presence of past-producing mines and deposits in the area is not necessarily indicative of mineralization on the Properties. The referenced mines and deposits are not on the Properties, and their historic production do not imply that similar mineralization occurs on the Properties or that exploration will be successful.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that the Company may not satisfy the conditions to, or may otherwise be unable to, acquire the Properties under the Agreement; the risk of termination of the Agreement; the risk that required Exchange approval may not be obtained; risks inherent in the exploration and development of mineral properties, including risks related to geology, sampling and assay variability, interpretation of exploration results, and the possibility that exploration results may not support further work; the speculative nature of mineral exploration and development; the risk that the merits of the property may not be realized; the availability of financing and changes in general economic and capital market conditions; fluctuations in commodity prices and exchange rates; changes in laws, regulations and policies, including permitting and environmental requirements; operational and logistical risks (including equipment availability, contractor performance, accidents, weather, wildfires, flooding and other natural events); title matters, including defects in title, competing claims, or the inability to obtain or maintain necessary rights of access; and other risks and uncertainties described in the Company's continuous disclosure filings available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Although the Company believes that the forward-looking statements contained in this news release are reasonable as of the date hereof, there can be no assurance that they will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update or revise any forward-looking statements, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299476