Tantalex Lithium Provides Update on Private Placement and Announces Proposed Shares for Debt Settlement

As previously announced, the Corporation intends to complete a non-brokered private placement financing of approximately up to 86,000,000 Common Shares at a price of CDN$0.025 per Common Share (the "Private Placement"). The final number of Common Shares to be issued in the Offering, is subject to change depending on the foreign exchange rate of the US currency to Canadian currency to be determined on the closing date. There will be no finders' fees paid.

Certain insiders of the Corporation may acquire Common Shares in the Offering. Any participation by insiders in the Private Placement would constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Corporation expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Common Shares subscribed for by the insiders, nor the consideration for the Common Shares paid by such insiders, would exceed 25% of the Corporation's market capitalization.

The proceeds of the Private Placement will be used for project expenditures related to the optimization of the TiTan tin and tantalum plant and for general working capital. All securities issued pursuant to the Offering will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law.

The securities being referred to in this news release have not been, nor will they be, registered under the United States (U.S.) Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does 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.

Conversion of Debt into Common Shares

In addition to the Private Placement, the Corporation intends to settle aggregate outstanding bona fide debts totaling USD$490,000 (the "Debt Settlements") from cash advances from insiders of the Corporation (the "Cash Advances") by way of issuance of The Cash Advances are unsecured and do not bear any interest. Common Shares of the Corporation at a deemed price of $0.025 per Common Share. The total number of Common Shares to be issued in the Debt Settlement, is subject to change depending on the foreign exchange rate of the US currency to Canadian currency to be determined on the closing date.

The Board of Directors has determined it is in the best interests of the Corporation to settle the outstanding debt by the issuance of Common Shares and Warrants in order to preserve the Corporation's cash for general working capital purposes.

The closing of the debt settlement transactions is subject to customary closing conditions and the Corporation intends to close as soon as practicable. Upon closing, the Corporation will make all necessary filings, including the filing of early warning reports, as necessary. The Common Shares and Common Shares underlying the Warrants to be issued pursuant to debt settlement transactions will be subject to a hold period of four (4) months and one (1) day from the date of issuance.

About Tantalex Lithium Resources Corporation

Tantalex Lithium is an exploration and development stage mining company engaged in the acquisition, exploration, development and distribution of lithium, tin, tantalum and other high-tech mineral properties in Africa. It is currently focused on operating its TiTan tin and tantalum concentrate plant and developing its lithium assets in the prolific Manono area in the Democratic Republic of Congo; The Manono Lithium Tailings Project and the Pegmatite Corridor Exploration Program.

For more information, please contact: Richard Creitzman

Interim President & CEO Email: rc@tantalex.ca Phone: +41 79 968 5825

Website: www.tantalexlithium.com

Cautionary Note Regarding Forward Looking Statements

This presentation includes certain statements that may be deemed forward looking statements. All statements in this document, other than statements of historical facts, which address future production, reserve potential, exploration activities and events or developments that the Corporation expects, are forward-looking statements. Such forward-looking statements include, without limitation: (i) estimates of future lithium, tin and tantalum prices, supply, demand and/or production; (ii) estimates of future cash costs and revenues; (iii) estimates of future capital expenditures; (iv) estimates regarding timing of future development, construction, production or closure activities; (v) statements regarding future exploration results; (vi) statements regarding cost structure, project economics, or competitive position, (vii) statements comparing the Corporation's properties to other mines, projects or metals; and (viii) the completion of the Offering and the Debt Settlements. Although the Corporation 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, that the Corporation expressly disclaims any responsibility for revising or expanding the forward- looking statements to reflect actual results or developments, and that actual results or developments may differ materially from those projected, in the forward-looking statements, except as required by law.

Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

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