D2 Lithium Corp. — Capital/Financing Update 2022

Oct 21, 2022

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LITHIUM & TECHNOLOGIES CORP .

HELIOSX SUBMITS APPLICATION FOR ADDITIONAL ALBERTA ACREAGE AND CONDUCTS INDEPENDENT REVIEW OF ARGENTINA BASIN

CALGARY, ALBERTA, October 20, 2022 – HeliosX Lithium & Technologies Corp. (“ HeliosX ” or the “ Company ”) (TSXV: HX ) (OTCQB: HXLTF ) (FSE: C2U0 ) announces that the Company has submitted applications to acquire strategic additions to its Alberta land position following our recent acquisitions in Nevada and Alberta. Results of the Alberta applications are expected in the next few weeks. HeliosX continues to seek strategic acreage to leverage off its lithium brine understanding to optimize potential future drilling locations.

The Company has engaged an independent, qualified geologist to conduct a comprehensive review of its Argentina basin with our joint venture partner Litica Resources S.A., the operating subsidiary of Pluspetrol Resources Corporation, to confirm the commercial resource potential. The geologist was on-site this month reviewing all available technical data and re-affirming basin geological models through seismic and sampling reviews. The analysis of the data is currently underway with a technical report expected by year end.

The Company and an Institutional Investor have mutually agreed to extend the completion of their previously announced non-brokered private placement offering of 7,200,000 units of the Company (each a "Unit") at a price of USD $0.654 (equivalent to CAD $0.85) per Unit (the "Issue Price") for aggregate gross proceeds of USD $4,708,800 (equivalent to CAD $6,120,000) (the “Offering”) prior to December 31, 2022. The terms of the Offering remain unchanged from those described in the news release dated July 25, 2022. The Offering is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About HeliosX:

HeliosX is an integrated lithium exploration company, incorporating the latest in direct lithium extraction ("DLE") technologies, to unlock potential commercial opportunities in Alberta (Canada), Nevada (USA) and Jujuy (Argentina). The Company holds approximately 560,000 lithium brine acres across three prospective lithium jurisdictions, providing potential exposure to multiple lithium brine play types. The company has selected specific DLE technologies which it believes will maximize potential lithium opportunities in each operational jurisdiction and continues to move forward with technical modeling and information gathering to better delineate the prospective lithium resources.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

LITHIUM & TECHNOLOGIES CORP .

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Notice on Forward Looking Information

This press release contains statements that constitute "forward-looking information" (" forward-looking information ") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others. risks associated with the business of HeliosX; business and economic conditions in the lithium industry generally; changes in commodity prices; changes in interest and currency exchange rates; government action or delays in the receipt of government or regulatory approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); changes in general economic conditions or conditions in the financial markets; changes in laws; risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required; and other risk factors as detailed from time to time including the risk factors set out in HeliosX’s annual information form for the year ended November 30, 2021 filed on SEDAR at www.sedar.com. HeliosX does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The foregoing list of assumptions is not exhaustive.

Forward-looking statements in this document include, among others, statements relating the completion of the Private Placement.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

HELIOSX LITHIUM AND TECHNOLOGIES CORP.

(signed) "Christopher Brown"

Christopher Brown, P.Eng Chief Executive Officer

For further information:

Telephone: (403) 812-0568 Email: info@heliosx.ca Website: www.heliosx.ca