NEO Battery Materials Ltd. Announces Licensing Agreement with University-Industry Foundation of Yonsei University in Korea

Vancouver, British Columbia--(Newsfile Corp. - March 8, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) ("NEO" or the "Company") is pleased to announce it has entered into a licensing agreement (the "Agreement") with the University-Industry Foundation of Yonsei University ( "Yonsei University").

Under the terms of the Agreement, the Company will be granted an exclusive world-wide license for three patents owned by Yonsei University related to silicon nano coating technology for battery anode materials.

The three patents to be licensed include:

"We are extremely pleased to announce that NEO Battery Materials has secured the key intellectual properties related to advanced silicon enhanced technology to meet the increasing demands for the next generational battery anode materials. We strongly believe that our technology has the potential to achieve and realize the improved energy density and superior performance of silicon-based hybrid anodes in lithium-ion batteries. Added with a lean and efficient manufacturing process, NEO will be capable of producing anode materials at a low cost, and the abundance of silicon will allow NEO to be a vertically integrated mining company, establishing a robust value chain that further pushes costs down," said Spencer Huh, CEO of the Company.

Spencer Huh also added, "Silicon has been considered as one of the most attractive anode materials in decades because of its exceptionally high energy density, having more than 9.6 times the gravimetric capacity compared to conventional graphite. However, the volume expansion issue of silicon during lithiation has been the main obstacle for the industry to adopt the technology. The Company believes that the secured technology could manage and resolve this specific issue related to silicon. Further to that, Dr. Park, Director and Chair of the Scientific Advisory Board, will provide more detailed and technical information regarding this Agreement."

About University-Industry Foundation of Yonsei University
The University-Industry Foundation (UIF) of Yonsei University was founded in 1991 as the Yonsei University Office of Research Affairs to accelerate the initiative to become the leading global research-focused university. Since then, the UIF has achieved noticeable synergies and accomplishments with domestic and international companies through licensing their diverse portfolio of patents and intellectual properties.

About NEO Battery Minerals Ltd.
NEO Battery Minerals Ltd. is Vancouver-based junior resource company focused on battery metals exploration in North America. The Company has staked new mining claims in Golden, BC, along a strike with a quartzite bed, targeting silica in the quartzites for a total of 467 hectares. The Company focuses on exploring and producing silicon, which, when added to anode materials in the production of lithium-ion batteries, provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become an integrated silicon producer and anode materials supplier to the electric vehicle industry. For more information, please visit the Company's website at: https://www.neobatterymaterials.com/.

On behalf of the Board of Directors
Spencer Huh
President and CEO
604-697-2408
sbhuh1450@gmail.com

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