Imagine Lithium Highlights Robust Initial Mineral Resource, Strong Metallurgy and Upcoming Drill Program at Jackpot Property

15.10.2025  |  Newsfile

Vancouver, October 15, 2025 - Imagine Lithium Inc. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to provide a summary of the Company's most significant technical milestones at its 100%-owned Jackpot Lithium Project, located near Thunder Bay, Ontario, Canada. The following highlights include the results of the recently completed NI 43-101 compliant Mineral Resource Estimate (MRE), metallurgical test work, surface exploration programs which identified new high-priority targets. Together with on-going and future exploration plans, these milestones continue to demonstrate the project's strong potential as an open-pit, hard-rock lithium deposit.

RESOURCE HIGHLIGHTS - NI 43-101 MINERAL RESOURCE ESTIMATE

• Indicated Resource: 3.1 million tonnes grading 0.85% Li₂O (26,200 t contained Li₂O)
• Inferred Resource: 5.3 million tonnes grading 0.91% Li₂O (49,500 t contained Li₂O)
  • Cut-off Grade: 0.30% Li₂O (pit-constrained)
  • Recovery: 81.5% Li₂O, based on SGS metallurgical testing
  • Bulk Density: 2.69 t/m³
  • Estimation Method: Inverse distance squared (ID²) on 2 × 2 × 2 m blocks
  • Effective Date: September 3, 2024; prepared by P&E Mining Consultants Inc.; technical report filed October 18, 2024.

The MRE outlines two conceptual pit shells - Jackpot and Casino Royale - both exhibiting good grade continuity and strong potential for resource expansion. The resources remain open along strike and to depth.

METALLURGICAL TEST WORK

The early metallurgical results demonstrate that Jackpot mineralization can yield a high-grade spodumene concentrate suitable for the lithium battery supply chain.

• Metallurgical testing was conducted by SGS Lakefield (2022-2023) on a 200 kg composite sample grading 1.72% Li₂O and 0.29% Fe₂O₃.
• Heavy Liquid Separation (HLS) produced a 6.0% Li₂O spodumene concentrate with 81.5% Li₂O recovery, and a concentrate iron content of 0.76% Fe₂O₃, without magnetic separation.
• Additional optimization through dense media separation (DMS) and flotation is expected to further enhance recovery and concentrate grade.
• The Company adopted the 81.5% recovery figure within the MRE cut-off assumptions.

RECENT SURFACE EXPLORATION PROGRAMS

In addition to drilling, Imagine Lithium has completed a series of surface exploration programs to refine targets across the Jackpot property:

• Diamond Drilling: Resource expansion drilling west of the Jackpot pit shell intersected 0.92% Li2O over 35.10m in hole JP-24-31;
• Channel Sampling: Continuous channel sampling of exposed spodumene-bearing pegmatite outcrops returned exceptional results including 65.10 m @ 1.10% Li₂O, 10.3 m @ 1.23% Li₂O (including 4.0 m @ 2.88% Li₂O), and 10.0 m @ 1.02% Li₂O (including 6.0 m @ 1.56% Li₂O). These broad, high-grade channels confirm excellent surface continuity along multiple dykes within the Jackpot Main Zone and the emerging Casino Royale area.
• Prospecting: geological mapping and sampling has identified six new spodumene-bearing pegmatite zones outside the current resource pit shells, all of which remain untested by drilling.
• Soil Sampling: Over 1,200 soil samples collected on a 100 m × 50 m grid defined lithium-cesium-tantalum (LCT) anomalies extending over 2 km northwest of the Main Zone.
• Geophysics: High-resolution magnetic and LiDAR surveys have defined structural corridors and parallel dyke trends coincident with known mineralization, providing new high-priority targets for 2026 drilling.

These surface programs expand the mineralized footprint well beyond the current pit-constrained resource and highlight the potential for continued resource growth at both Jackpot and Casino Royale.

Figure 1. Jackpot Lithium Project map showing the Jackpot and Casino Royale Pit Shells and surrounding exploration targets (Salo, Blay Lake, South Jackpot, etc.). Source: Imagine Lithium Inc.

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UPCOMING EXPLORATION PROGRAM AND NEXT STEPS

An aggressive 2026 exploration program is designed to expand known mineralization and test newly identified targets:

• Expansion drilling at both the Jackpot and Casino Royale zones to grow existing resources;
• Drill test new targets (South Newkirk, South Jackpot and Cosgrave North zones) that were discovered along the Jackpot - Casino open pit trend during the 2025 field season;
• Complete a fall bedrock stripping and channel sampling program on the spodumene pegmatite north of the historic Foster-Lew pegmatite;
• Complete geological mapping and bedrock stripping on the newly discovered Blay Lake, Jackpot West and Southwest zones;
• Advance metallurgical optimization and preliminary engineering studies;
• Initiate environmental baseline work and permitting preparations for future development.

QA/QC Protocol

Imagine Lithium implemented a strict QA/QC protocol in processing all rock and soil samples collected from the core material and soil horizons obtained on the Jackpot property. The protocol included the insertion and monitoring of appropriate reference materials. High and low concentration certified lithium standards, blanks and duplicates are used to validate the accuracy and precision of the assay results.

All collected core rock and soil samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of a professional geologist. The sample number, depth and brief description of each sample is logged and entered to a digital database. Rock core samples were split using a diamond saw with half of the sample remaining in the core box and the other being placed in a labelled sample bag. Duplicate samples were quarter split and placed into individual sample bags.

All sample bags were put into rice bags and stored securely before being delivered to AGAT Laboratories in Thunder Bay, Ontario. Samples are processed and crushed at the AGAT facility in Thunder Bay. Lithium was analyzed by Sodium Peroxide Fusion with ICP-OES and ICP-MS Finish. Soil samples were placed into small brown paper bags and analyzed by 4-Acid digest with ICP-OES and ICP-MS Finish.

Qualified Person

The technical content of this news release was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares. The Property contains NI 43-101 compliant Mineral Resources of 3.1 Mt grading 0.85% Li₂O in the Indicated category and 5.3 Mt grading 0.91% Li₂O in the Inferred category, as well as a number of other known pegmatite showings.

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 release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

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