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Recharge Resources Increases Ownership of Brussels Creek to 100% and Announces New Director

Recharge Resources Increases Ownership of Brussels Creek to 100% and Announces New Director

(TheNewswire)


Recharge Resources Ltd.


Vancouver, BC, Canada –
TheNewswire –
March 21
st, 2022 – Recharge Resources Ltd. (CSE:RR)
(CNSX:RR.CN)
(OTC:SLLTF) (Frankfurt:SL5)
(“Recharge” or the “Company”)
announces
that, further to the news release dated April 23, 2021, it has
successfully re-negotiated and accelerated its ownership interest to
100% of the Brussels Creek Project gold-copper-palladium property,
located in the Kamloops Mining District, British Columbia (the
“Property”). Prior to this amendment, Recharge had earned in to a
60% interest in the Property.

Recharge acquired the remaining 40% right, title and
interest in the Property in consideration of Recharge paying the sum
of $75,000 and issuing 2,500,000 common shares in the capital of the
Company upon closing. The interest earned is subject to a 2-percent
net smelter royalty payable to the optionor. One percent of the
royalty may be purchased for $1-million, exercisable any time on or
before the expiration of one year from the commencement of commercial
production on the Property. No further work commitment is required
pursuant to the original agreement.

About the Brussels Creek Project

The Property is an early-stage exploration property,
located approximately 24 kilometres west of Kamloops, B.C., and is
immediately adjacent to New Gold’s New Afton mine. The Property
comprises 17 claims (66 cells) covering 1,350.43 hectares. The
geological setting of the property is very similar to New Afton, a
silica-saturated copper-gold alkalic porphyry-style deposit, as well
as the Highland Valley, Mount Polly, Kemess and Galore Creek deposits.
Recent field observations noted the presence of a substantial
mineralized quartz-feldspar porphyry body intruding the overlying
Nicola group volcanics. Historic sampling and mapping on the property,
in 1983 and 1984, located a broad anomalous zone (200 metres by 400
metres) with gold values up to 3.5 grams per tonne. Grab samples taken
from the property in 2019 include values of 10.1 g/t Au (with 0.7 g/t
palladium) and 11.5 g/t Au.

In 2020, Syber commenced exploration work on the
Property and has completed an airborne magnetometer survey over the
entire property, a lidar and orthophotography survey, and also one
week of prospecting and mapping. Interpretation of the geophysical
survey identified six areas of interest, showing potential for the
structural complexities and potassic alteration that are common
features of this style of porphyry copper-gold deposit. Le Mare
(renamed Recharge Resources subsequently) commissioned Healex
Consulting of Nanaimo, B.C., to complete a National Instrument 43-101
technical report on the property. This report is made available at
SEDAR.

The shares issued pursuant to the agreement will be
subject to a four-month hold period upon issuance

Director Appointment

Additionally, Recharge is pleased to announce the
appointment of Mr. Andrew Mugridge to its Board of Directors,
replacing Mr. Andreas Schleich.

Andrew Mugridge has extensive experience consulting
public traded resources exploration companies since entering the
industry in 2006. Beyond serving in several officer, director, and
senior management positions with TSX and TSX-Venture listed companies,
Andrew ran a successful investor relations firm (2006-2014) and is
currently a principle of a financial advisory firm in Vancouver,
British Columbia.

The Company would like to thank Mr. Schleich for his
services and for his invaluable contribution to the Company. The
Company wishes him the best in his future undertakings.

Market Awareness Program

As part of Recharge’s ongoing strategy to
raise the profile of Recharge’s projects to investors, the
Company has entered into an agreement with TD
Media LLC dba Life Water Media LLC, of Houston, Texas (“TD
Media”) whereby TD Media will provide digital marketing services
including content creation, distribution, and market awareness
campaigns in consideration of USD$350,000 for a 90 day term, which
commenced on March 14, 2022.

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.

On Behalf of the Board of Directors,

“Yari Nieken”

Yari Nieken, CEO

For further information, please
contact:

Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail:
info@recharge-resources.com

Website:
recharge-resources.com

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 inability to
identify transactions having satisfactory terms or at all and the
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.

Copyright (c) 2022 TheNewswire – All rights reserved.

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