Montreal, Quebec--(Newsfile Corp. - July 12, 2024) - E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") is pleased to provide an update on exploration completed and planned on the Company's Tetepisca Graphite Property and to announce the appointment of Dr. William Pfaffenberger to the Board of Directors.

Exploration Update

During June, the Company collected a total of 1,037 kilograms (1.037 tonnes) comprising 4 bulk samples from 3 graphite showings located on the southern claims of the Tetepisca Graphite property. The samples, shipped from Baie-Comeau, have been received at Volt Carbon Technologies Inc. ("Volt" or "Volt Technologies") Scarborough, Ontario dry separation facility. Volt will be completing metallurgical test work, including production of graphite concentrates and graphite flake size distribution analysis, from each of the samples. The Company is also initiating preliminary mineralogy and geochemistry studies from field replicates and representative cuts of the bulk samples.

During June, the Company also initiated a geological and geophysical prospecting program on the northern claims of the Tetepisca property. Prospecting is evaluating targets prioritized from the Company's 2022 high-resolution magnetic-electromagnetic airborne survey. Graphite mineralization was located at several locations in the target areas with visual graphite concentration estimates ranging from trace to 20%. Thirty-three outcrop grab samples have been submitted to ALS Laboratories for graphite carbon analyses.

Field geologists, prospectors, and technicians currently on a break will be returning to the Tetepisca property during the middle of July and will resume prospecting at selected target areas across the property. Pending reception of the required permit from the Ministry of Natural Resources and Forests, the Company will be completing a 20 to 30 tonne bulk sample at 2 locations to be determined based on the results of metallurgical, mineralogy, and geochemical work in progress.

Board of Directors Update

The Company is pleased to announce the appointment of Dr William Pfaffenberger to the Board of Directors. Dr. Pfaffenberger has over 40 years of active involvement in several mining companies both in management and on their boards of directors. He served previously as CFO of Teuton Resources (TSXV: TUO) and CEO of Volt Carbon Technologies (TSXV: VCT). He is President of a private mineral exploration company, Fundamental Resources Corp, with properties in British Columbia. Dr. Pfaffenberger is a retired professor of Mathematics and Statistics at the University of Victoria. He served as Chairman of the Board of Pension Trustees for 11 years overseeing more than $400 million in assets.

The company also announces the resignation of Thomas Langley from the Board of Directors due to his increased career commitments. Mr. Langley will continue to serve the Company as the first member of the newly formed Advisory Board. Other appointments to the Advisory Board will be announced in due course.

Qualified Person

Jamie Lavigne, P.Geo, Vice President Exploration and a director of E-Power, is a qualified person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release.

About E-Power Resources Inc.

E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Québec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company's disclosure record on SEDAR () or contact the Company by email at info@e-powerresources.com.

On Behalf of the Board of Directors

Disclaimer for Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the contents of this news release.