HeliosX Lithium & Technologies Corp. announced the acquisition of 5,060 acres in Worsley, Alberta, and the acquisition of 77 new placer mineral claims contiguous to its Alkali Lake, Nevada asset. This will more than double the asset total from 1,240 acres to 2,780 acres in the Alkali Spring Valley.

This brings the Alberta acreage total from 310,000 acres to 315,060 acres. HeliosX is still undertaking a Western Canadian basin Lithium resource identification project that will prioritize high value target acquisitions. The Company also announces it has received notification from Lone Mountain Resources ("LMR"), of its intention to terminate the Earn-In Agreement between the Company and LMR. The termination notice was required prior to August 31, 2022.

Under the terms of the Earn-In Agreement, LMR has not earned any ownership of the Alkali Spring Valley (also known as Alkali Lake) Lithium exploration project. Accordingly, Dajin Resources (U.S.) Corp., a wholly owned subsidiary of the Company incorporated pursuant to the laws of the State of Nevada, will retain 100% ownership. Additionally, LMR was required to return any new data it may have gathered up to the termination date.

The Company has paid all the claims maintenance fee for Alkali Lake through 2023.