CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia, Marking a Significant Milestone in CO2 Mineralization Technology

Vancouver, British Columbia--(Newsfile Corp. - January 25, 2024) - CO₂ Lock Corp. ("CO₂ Lock" or the "Company"), a leading British Columbia-based clean technology startup specializing in carbon capture and storage ("CCS") via permanent mineralization, is very pleased to announce the successful completion of a comprehensive field program at its SAM site in central British Columbia, including the first-ever successful injection of CO₂ into a brucite-rich ultramafic deposit. This achievement marks a significant milestone in the development of the Company's cutting-edge in-situ CO₂ mineralization technology.

Highlights

• Successful injection of CO₂ at depth, with downhole CO₂ sensors verifying the desired CO₂ content throughout the carbonated water injection, bolstering the Company's confidence in the effectiveness of its groundbreaking approach.
• Geological analysis confirms that the SAM deposit has an exceptionally promising mineralogy for CO₂ mineralization and permanent storage. The brucite values averaged 3-times higher through entire length of the drill hole than at the Decar Nickel district, from which CO₂ Lock's foundation research was conducted.
• Extraction of multi-ton surface bulk sample for use in the Company's ex-situ CO₂ mineralization pilot at CO₂ Lock's lab facility in the Vancouver area.

"This successful field program represents a pivotal step for CO₂ Lock and reinforces our dedication to developing sustainable solutions for permanent carbon storage," said Dr. Nader Mosavat, CO₂ Lock's Chief Technology Officer. "The promising geological analysis and successful demonstration of the CO₂ injection into our SAM deposit highlight the very significant potential of our in-situ CO₂ mineralization technologies to play a crucial role in mitigating carbon emissions. The bulk sample, with similarly high brucite concentration, will be used to advance the Company's groundbreaking work on ex-situ CO₂ mineralization." The following Figures 1 and 2 provide illustrations of CO₂ Lock in-situ and ex-situ mineralization technology using brucite-rich serpentinite deposits to permanently store CO₂.

The success of the SAM field program positions the Company as a key player in the ongoing efforts to address climate change through innovative and effective CO₂ mineralization solutions. The Company looks forward to further advancing its technology and expanding its impact on CCS initiatives. Refined Techno-Economic and Life Cycle Analyses of both in-situ and ex-situ mineralization, and an ex-situ pilot program are planned to be completed in the first half of 2024.

Figure 1 and Figure 2

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About SAM

The SAM property is one of several ultramafic bodies identified by the BC Geological Survey along the same trend as FPX Nickel's Decar Nickel District, and Giga Metals' Turnagain Nickel Project. Located approximately 50 kilometers southwest of Prince George, BC, the 4,084 hectare SAM project was staked in 2022 based on regional mapping and sampling of a large, serpentinized ultramafic body composed primarily of harzburgite, dunite, and peridotite with significant levels of brucite mineralization of potentially economic size.

About CO₂ Lock Corp.

CO₂ Lock Corp is focused on harnessing the untapped potential of ultramafic brucite-rich serpentinized peridotite deposits to commercialize CCS projects that will permanently lock away mega-tonnes, to eventually giga-tonnes, of CO₂. With this focus on sustainability and innovation, we are committed to advancing large-scale carbon mineralization of CO₂ underground (in-situ mineralization) and at surface (ex-situ mineralization)

On March 30, 2022, FPX Nickel Corp. ("FPX") announced the formation of CO₂ Lock to greatly expand on the five years of laboratory and field research into CO₂ mineralization using material from its Baptiste deposit in the Decar Nickel District. This work, conducted jointly with the University of British Columbia and Natural Resources Canada, demonstrated that the serpentinized peridotite host rocks at Decar are particularly favorable for mineralizing CO₂, especially where the mineral brucite is present. FPX's international exploration has concluded that mineral deposits of this nature have the potential for mineralizing CO₂ at an enormous scale.

CO₂ Lock has full access to the original research conducted by FPX, including the international database, and is focused on developing CCS by CO₂ mineralisation in geological settings worldwide with similarities to FPX's Decar Nickel District. CO₂ Lock has established ownership in prospective mineral tenures and is developing intellectual property associated with the operation of CCS sites worldwide.

As a stand-alone, partially owned subsidiary of FPX, CO₂ Lock is backed by the extensive project development, resource estimation, permitting, mining engineering and economic assessment capabilities of FPX. CO₂ Lock is also strongly supported by BGC Engineering, a firm with over 700 engineers, through its Horizon 3 R&D fund giving the Company access to a great depth of geological engineering, hydrogeology, tailings management and related fields. These relationships support CO₂ Lock's commitment to sustainable innovation and dedication to pioneering advancements in the cleantech sector.

For more information or media inquiries, please view the Company's website at www.CO₂lockcorp.com, or contact us at info@CO₂lockcorp.com.

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

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