LITHIUM LION ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Vancouver, British Columbia / March 21, 2024 – Lithium Lion Metals Inc.
(“Lithium Lion” or the “Company”) (CSE: LLM), is pleased to announce that the Company has
completed its non-brokered private placement (“Private Placement”) of units (“Units”) for
gross proceeds of C$590,000 through the sale of 11,800,000 Units at a price of C$0.05 per Unit.
Each Unit is comprised of one common share in the capital of the Company (a
“Common Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant
will be exercisable into one Common Share at a price of C$0.055 per share for two (2) years
from the date of issue.

As the Private Placement offering exceeds 100 percent of the current issued and outstanding
common shares, securityholder approval was obtained pursuant to Canadian Securities
Exchange (“CSE”) Policy 6.

An Insider of the Company has participated in the foregoing private placement offering which
constitutes a “related party transaction” as defined under Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The party has
contributed $10,000 or approximately 1.69% of the offering. Such participation is exempt from
the formal valuation and minority shareholder approval requirements of MI 61-101 as neither
the fair market value of the securities acquired by the insiders, nor the consideration for the
securities paid by such insiders, exceed 25% of the Company’s market capitalization.

About Lithium Lion Metals Inc.

Lithium Lion Metals Inc. is a mineral exploration company actively involved in exploring the 13N
Project which consists of 59 mining claims covering approximately 3,107 hectares located in
Bartouille and Ducros townships in Quebec. For more information please
visit: www.lithiumlion.ca

ON BEHALF OF THE BOARD OF DIRECTORS

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The CSE and Information Service Provider have not reviewed and does not accept
responsibility for the accuracy or adequacy of this release.

Forward-Looking Information

Certain information in this news release may constitute “forward-looking” information that
involves known and unknown risks, uncertainties, future expectations and other factors which
may cause the actual results, performance or achievements of the Corporation or industry
results, to be materially different from any future results, performance or achievements
expressed or implied by such forward looking information. When used in this news release, this
information may include words such as “anticipate”, “estimate”, “may”, “will”, “expect”,
“believe”, “plan” and other terminology. This information reflects current expectations
regarding future events and operating performance and speaks only as of the date of this news
release.

Except as required by law, we assume no obligation to update or revise forward-looking
information to reflect new events or circumstances. Additional information is available in the
Corporation’s Management Discussion and Analysis, which can be found on SEDAR+
at www.sedarplus.ca.