ION Closes Upsized Non-Brokered Private Placement

Lithium ION Energy Limited (TSXV: ION,OTC:IONGF) (FSE: ZA4) ("ION" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement offering through the issuance of an aggregate of 35,237,500 units (the "Units") at a price of $0.04 per Unit for gross proceeds of $1,409,500 (the "Offering").

Each Unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.05 at any time on or before that date which is twenty-four (24) months from the closing date of the Offering.

In connection with the Offering, the Company paid aggregate cash finder's fees of $44,070 and issued 1,101,750 finder's warrants to certain arm's length finders who assisted in introducing subscribers to the Offering.

The Company intends to use the net proceeds of the Offering to assess new growth opportunities, maintain the Company's existing exploration portfolio, and for general working capital.

All securities issued and sold under the Offering are subject to a four month hold period expiring on July 14, 2026 in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV"). Completion of the Offering, and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.

Sreenath Didugu, Matthew Wood and Robert Payment, each being a director and/or officer of the Company subscribed for an aggregate of 3,250,000 Units for gross proceeds of $130,000. Such participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the insider participation does not exceed 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Offering because the details of the participation therein by related parties to the Company were not settled until shortly prior to the closing of the Offering.

The Company further announces that it has granted an aggregate of 7,000,000 incentive stock options (the "Stock Options") to directors, officers, and consultants of the Company pursuant to its incentive stock option plan. Each Stock Option is exercisable to acquire one common share of the Company at an exercise price of $0.05 per share for a period of five (5) years from the date of grant. The Stock Options vest immediately and are subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.

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 Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the completion of the Offering on the terms and timing described herein, the Company's proposed use of proceeds from the Offering, receipt of TSXV approval for the Offering, the Company's reliance on certain exemptions from requirements under MI 61-101, the Company filing a material change report and the timing thereof and the granting of the Stock Options. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

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