Vanguard Mining Corp. — Proxy Solicitation & Information Statement 2023

Jul 21, 2023

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Royal Centre, Suite 1500 1055 West Georgia Street, PO Box 11117 Vancouver, BC V6E 4N7

RECHARGE RESOURCES UPDATES INFORMATION CIRCULAR

Vancouver, BC – July 20, 2023 - Recharge Resources Ltd. ("Recharge" or the "Company") (RR: CSE) (RECHF: OTC) (SL5: Frankfurt) issues this press release to supplement certain disclosure in the Company’s management information circular dated June 21, 2023 (the “ Information Circular ”) sent to shareholders of the Company (the “ Shareholders ”) prior to the annual general and special meeting of the Shareholders being held on July 26, 2023 (the “ Meeting ”).

The Information Circular requires the following additional disclosure for the Company’s annual and special meeting to be held as scheduled on July 26, 2023.

On July 13, 2011, the British Columbia Securities Commission (the “ BCSC ”) issued a notice of hearing alleging that the Company’s CEO and director, David Greenway, contravened section 57.2(2) of the Securities Act (BC) by purchasing 68,500 shares of Global Uranium Corp. (“ Global ”) while being in a special relationship with Global and with knowledge of a material fact relating to Global that had not been generally disclosed. The purchases took place between March 31 and April 16, 2010.

The BCSC determined in their February 22, 2012 decision that David Greenway had inadvertently breached section 57.2(2) of the Securities Act (BC). Accordingly, the BCSC issued the following sanctions:

• Mr. Greenway was banned from trading securities of any issuer with whom he is in a special relationship until the later of July 22, 2012 and until he paid a $19,177 administrative penalty; and

The administrative penalty has been paid in full and Mr. Greenway’s trading ban has subsequently expired.

About Recharge Resources

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.

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On Behalf of the Board of Directors,

“David Greenway”

David Greenway, CEO

E-Mail: info@recharge-resources.com Website: recharge-resources.com

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

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

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