Montreal, Quebec--(Newsfile Corp. - August 1, 2024) - E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") is pleased to report results from the first phase of the 2024 exploration program on the Company's flagship Tetepisca flake graphite property located in the North Shore region of Québec. Highlights include the discovery of graphite bearing metamorphic rocks along three conductor trends which include a high of 31 % Cg (Graphite Carbon) from an outcrop grab sample and a sample of proximal float rock which returned a value of 24.8% Cg from a 4th conductor target area.

James Cross, President and CEO of E-Power commented: "We are completing metallurgical and mineralogical chacterization studies on our Tetepisca Property to determine product quality and applicability to end users. At the same time, we are conducting a propecting program focussed on the northern end of our property. The prospecting is to evaluate our large land position in an effort to demonstrate large tonnage potential in multiple target areas. The results of the prospecting completed to date, including high grade grab samples, are very enouraging. We look forward to the metallurgical test work results as well as continued success in the field program through the 2024 exploration campaign."

Exploration Update

The 2024 exploration program being completed on the tetepisca property includes:

1. The collection of a 1-tonne sample, approximately 250 kg from each of four graphite surface showings located in the southern part of the property (Phase 1 sampling and geological mapping).

2. Early stage geological and geophysical prospecting at selected target areas priotizing the lesser explored northern part the property.

3. Collect a bulk sample of 20-30 tonnes collectively from 2 or 3 selected target areas (showings) based on the results of the Phase 1 detailed mapping and sampling. The permit application for this work has been submitted.

E-Power collected a total of 1,037 kilograms (1.037 tonnes) comprising four bulk samples from three graphite showings (2 samples taken from the Graphi West target area) on the Tetepisca property (locations of showings indicated on Map 1). Metallurgical testwork including production of graphite concentrates and graphite flake size distribution analysis is underway at Volt Carbon Technologies Inc.'s dry separation facility in Scarborough, Ont. Whole rock major and trace element geochemistry on field duplicates of the 4 samples is in progress at ALS Geochmistry in Val d'Or, Quebec and will also be completed on representative splits of the 4 x 250 kg samples as received by Volt Technologies. Mineralogy studies are also underway which includes reflected and transmitted light petrography on a total of 12 thin sections. The Company anticipates completing further detailed mineral compositions and graphite textural analysis utilizing a Scanning Electron Microscope ("SEM"). Consulting geologist Allan Miller, PhD, P.Geo, is managing and completing the mineralogy studies.

Geological and geophysical prospecting been completed on a limited area of the northwestern most claims and has confirmed three previously targeted and prioritized conductive trends to be graphite bearing (see map 2). A total of 32 grab samples from outcrop were analyzed for Cg. Twenty-two of the 32 samples contained Cg greater than 1 %, 20 samples contained Cg concentration greater than 7% Cg, and 13 samples contained greater than 10 % Cg. The highest grade samples contained 31.0 and 34.8 % Cg.

About the Tetepisca Property

The Tetepisca Property is located approximately 220 km north of the town of Baie-Comeau in the North Shore Region of Québec. The property consists of 230 claims covering an area of approximately 12,620 hectares within the emerging Tetepisca Graphite District ("TGD"). The TGD is an active graphite exploration and development district with delineated measured and indicated resources in excess of 100 Mt at an average grade of 14% Cg. The Company's Tetepisca property is strategically located over continuous bedrock conductive horizons that are known and interpreted to be due to graphite and which hold significant potential to host flake graphite resources. The intersection of graphite in our 2023 drilling and the results of our 2024 exploration program to date confirms the Company's exploration model and provides the basis for continued exploration and evaluation.

Qualified Person

Jamie Lavigne, P. Geo, Vice President Exploration and Director for E-Power is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.

About E-Power

E-Power Resources Inc. is a Québec Corporation based in Montréal and focused on battery minerals exploration in Québec. The Company is currently advancing two projects; the Tetepisca property, located in the North Shore region of the Province and the Turgeon property located in the Abitibi region adjacent to the Ontario border. The Company's priority target is flake graphite on the Tetepsica Property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district and the Company is evaluating Turgeon primarily for its copper-zinc and gold potential.

For more information about E-Power Resources Inc. please visit the Company website at: e-powerresources.com.

Notice Regarding Forward-Looking Statements:

This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

Map 1: Tetepisca Graphite District VTEM Conductivity Map

Map 2: North Tetepisca Target Area