• Ion Energy Ltd. (TSX-V: ION) (“ION”, or “Company”) has made progress at both its projects - Baavhai Uul, and Urgakh Naran. The initial results of both projects returned a number of high-grade lithium highlights suggesting large base metal potential. • Encouraging Drilling Results at Urgakh Naran: The three diamond drilling holes completed at Urgakh Naran returned promising assay results, with Li grades as high as 911 ppm. In addition, the three monitoring wells have been completed with brine sampling to commence across all three wells in the coming months. This positions the company well on track to deliver an estimated inferred resource at Urgakh Naran by Q2 2023. • Targeting pre-feasibility study at Urgakh Naran by Q4 2023: ION has deployed the Solinst pumps, bailers, and various hydrogeological testing equipment on site, to ensure that brine samples will be collected from the three water wells for analysis. This should speed up the project toward inferred resource indication by