ALPHA LITHIUM CLOSES SPIN-OUT OF GREEN ENERGY PROJECT

July 29, 2021

VANCOUVER, British Columbia, July 29, 2021 – Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (Frankfurt: 2P62) (“Alpha” or the “Company”) is pleased to announce that the spin-out of Beta Energy Corp. (“Beta”) has been completed.

Alpha anticipates that its common shares will continue trading on the TSX Venture Exchange as “new” common shares of Alpha on or about August 3, 2021.

Please refer to the Alpha news releases dated June 17, 2021, July 26, 2021 and information circular dated June 21, 2021 for more detailed information, available on the Company’s website at https://alphalithium.com/ and on SEDAR at www.sedar.com.

About Alpha Lithium (TSX.V: ALLI) (OTC: ALLIF) (Frankfurt: 2P62)

Alpha Lithium is a growing team of industry professionals and experienced stakeholders focused on the development of the Tolillar and Hombre Muerto Salars. In Tolillar, we have assembled 100% ownership of what may be one of Argentina’s last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres), neighboring multi-billion-dollar lithium players in the heart of the renowned “Lithium Triangle”. In Hombre Muerto, we are expanding our foothold in one of the world’s highest quality, longest producing lithium salars. Other companies in the area exploring for lithium brines or currently in production include Orocobre Limited, Galaxy Lithium, Livent Corporation, and POSCO in Salar del Hombre Muerto; Orocobre in Salar Olaroz; Eramine SudAmerica S.A. in Salar de Centenario; and Gangfeng and Lithium Americas in Salar de Cauchari. Find out more at: https://alphalithium.com/.

ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION

Brad Nichol

Brad Nichol,
President, CEO and Director

For more information:

Alpha Lithium Investor Relations
Tel: +1 844 592 6337
[email protected]

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties, including statements with respect to the anticipated trading date of the “new” common shares of Alpha. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include potential delays in obtaining all requisite approvals and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

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. No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.