NEO Battery Materials Provides Pilot Plant Updates

Vancouver, British Columbia--(Newsfile Corp. - July 8, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) ("NEO" or the "Company") is pleased to provide a detailed follow up regarding the progress of NEO's pilot plant for its proprietary silicon (Si) nanocoating technology.

Along with Dr. J. H. Park, Director and Chief Scientific Advisor of NEO, and Mr. S. J. Hwang, Member of the Scientific Advisory Board, the Company's directors, scientific advisors, and engineers are currently in the process of working on the conceptual design of the pilot plant. The conceptual design study is the first crucial step towards realizing the performance advantages of NEO's Si nanocoating technology into widescale production. The current emphasis and aim for the pilot plant are put onto formulating the optimal manufacturing process when considering both the quality assurance and economic/cost details of NEO's end product.

From the study and analysis, NEO will be able to determine and finalize the preliminary data and works regarding configurations, required feeds and utilities, process control system, fundamental guidelines for HSE (Health/Safety/Environmental), the handling methods for raw materials/product/effluent, and additional feasibility studies. These will accumulate to the decision of capacity, selection of equipment and operation unit for the pilot plant.

Spencer Huh, President and CEO of NEO, commented, "Currently, the site consideration of the pilot plant is being extensively discussed as direct sample transfers to battery material developers and cell manufacturers, third-party validation, and strategic integration into the lithium-ion battery (LiB) value chain are of essence. South Korea is being conversed as the top candidate due to the robust LiB network and technological advancements. NEO considers the location selection as a vital component that may accelerate the Company's commercialization plans. We will constantly provide updates on the progress of the pilot plant and other related material developments."

About NEO Battery Materials Ltd.

NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery metals and materials. 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. NEO is also focusing on developing silicon anodes, which provide 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
shuh@neobatterymaterials.com

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