FRONTIER LITHIUM ANNOUNCES LISTING OF WARRANTS FROM PROSPECTUS OFFERING

FRONTIER LITHIUM ANNOUNCES LISTING OF WARRANTS FROM PROSPECTUS OFFERING

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GREATER SUDBURY, ON, April 28, 2026 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (OTC: LITOF) ("Frontier" or the "Company") announces that, further to the previously announced short form prospectus offering of the Company on April 8, 2026, the TSX Venture Exchange (the "TSXV") has conditionally accepted for listing, 11,500,000 common share purchase warrants of the Company (the "Warrants") to be issued pursuant to the terms of this short form prospectus offering  (the "Offering"), which is expected to close on April 30, 2026 ("Closing Date"). Frontier has obtained all necessary regulatory approvals, including conditional approvals from the TSX Venture Exchange for the Offering and listing of the Warrants.  

Pursuant to the Offering, the Company entered into an agreement with a syndicate of underwriters led by BMO Capital Markets (collectively the "Underwriters"), under which the Underwriters have agreed to buy on a bought deal basis 20,000,000 units (the "Units"), at a price of C$0.75 per Unit for gross proceeds of approximately C$15 million. Each Unit is comprised of one common share of the Company (a "Common Share") and half of one Warrant, with each Warrant exercisable to acquire one Common Share (a "Warrant Share") at a price of C$1.00 per Warrant Share for a period of two years from the closing of the Offering. The Company granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. Securities sold on exercise of the over-allotment option may be comprised of additional Units, Common Shares, Warrants or any combination thereof.

The TSXV has advised that the Warrants are anticipated to be listed for trading on the TSXV under the symbol "FL.WT" effective at market open on April 30, 2026. Each Warrant shall entitle the holder thereof to receive one common share of the Company at an exercise price of $1.00, subject to adjustment in certain circumstances, until April 30, 2028. The Warrants will be governed by a warrant indenture between the Company and Odyssey Trust Company dated April 30, 2026, which will be available under the Company's SEDAR+ profile at www.sedarplus.com. The CUSIP for the warrants is 35910P125 and the ISIN is CA35910P1255.

For more information about the Offering, please see the Company's news releases announcing the Offering dated April 8, 2026 and the preliminary short form prospectus dated April 14, 2026, and the final short form prospectus dated April 23, 2026, which are available under the Company's SEDAR+ profile at www.sedarplus.com.

The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. This press 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD OF DIRECTORS

Trevor Walker, President & CEO

About Frontier Lithium
Frontier Lithium Inc. is a pre-production mining company with an objective to become a strategic and integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the growing electric vehicle, and energy storage markets in North America. The Company's PAK Lithium Project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

About the PAK Lithium Project 
The PAK Lithium Project is a fully integrated critical minerals initiative in Ontario, developing a high-grade, large scale lithium resource. Operated as a joint venture between Frontier (92.5%) and Mitsubishi Corporation (7.5%), the project is advancing in parallel with a mine and mill, north of Red Lake, Ontario and a downstream lithium conversion facility in Thunder Bay, Ontario, which are both key to supporting a secure domestic lithium supply for the clean energy transition. A 2025 Mine and Mill Feasibility Study (FS), prepared by DRA Global Limited and entitled National Instrument 43-101 Technical Report FS PAK Lithium Project, Mine and Mill, outlines a 31-year Project life with an after-tax net present value of $932 million at an 8% discount rate and an after-tax internal rate of return of 17.9%.These results have been disclosed in the Company's press release dated May 28, 2025, and the accompanying technical report was filed on SEDAR+ (www.sedarplus.ca) on July 9, 2025.

Forward-Looking Statements
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts are forward-looking statements.  Examples of certain forward looking statements relate to the listing of the Warrants,  and the closing and Closing Date of Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings available at SEDAR+ www.sedarplus.ca.

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.

SOURCE Frontier Lithium Inc.