Bearing Announces Closing Of First Tranche Of Private Placement

Vancouver, British Columbia, February 17, 2022 – (TSXV: BRZ) Bearing Lithium Corp. (the “Company” or “Bearing“) is pleased to announce that further to the news release dated February 14, 2022, it has  completed the first tranche (the “First Tranche“) of its non-brokered private placement of common  shares (the “Common Shares“) of the Company (the “Private Placement“).

In connection with the First Tranche, the Company issued an aggregate of 7,500,000 Common Shares at  a price of $0.25 per Common Share for aggregate gross proceeds of $1,875,000. All Common Shares  issued in connection with the First Tranche are subject to a statutory hold period of four month and one  day.

Mr. Gil Playford, Chairman and CEO, comments: “Bearing believes that extremely strong fundamentals  for lithium globally, which has led to forecasted long-term strength in the lithium pricing, will also lead  to a further increase in activity in the sector globally. Bearing continues to position itself to be able to  assess future corporate opportunities, and to develop and implement strategies so that it can benefit  from any future strength in the sector. For clarity, Bearing notes that no discussions of this nature have  been initiated with any third parties at this time.”

In connection with the closing of the First Tranche, the Company is pleased to welcome Nero Resource  Fund (“Nero“), based in Western Australia as a shareholder. Nero will have an approximate 7.5% interest  in Bearing following the closing of the First Tranche. Nero is a well-respected small cap, resource focused  investment fund.

In connection with the First Tranche, the Company paid finders fees to eligible parties in the amount  $112,500 and issued to the finder’s an aggregate of 450,000 non-transferable finders warrants (the  “Compensation Warrants“). The Compensation Warrants are exercisable for a period of twenty-four (24)  months from the date of issue and entitle the holder thereof to acquire one Common Share of the  Company at a price of $0.40 per Compensation Warrant. The net proceeds from the Private Placement  will be used for general working capital purposes and to fund future capital calls of the Maricunga Project  Joint Venture.

Specialist natural resources, Australian based stockbroking firm Argonaut acted as lead manager to the  Private Placement.


Bearing Lithium Corp (BRZ) is a pure-play lithium company focused on the development of Chile’s next high-grade lithium mine. The Maricunga JV, in which Bearing holds a 17.14% interest, is the highest quality pre-production lithium brine project in South America and has one of the world’s highest-grade lithium resources at 1,167 mg/l lithium and 8,500 mg/l potassium. The September 2021 NI 43-101 compliant resource estimate for the deposit totals 2.9 Mt LCE now all classified as Measured and Indicated. Over US$67 million has been invested in the Maricunga Project to date.

For more information, please visit and BRZ.V. For more Information, please contact: 

Ray Baterina, Corporate Secretary


Forward-Looking Information 

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the  closing of any additional tranches of the Private Placement, the use of proceeds from the Private  Placement and the receipt of final approval of the Private Placement from the TSXV. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”  or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,  “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases orstate that  certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be  achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other  factors that may cause the actual results, level of activity, performance or achievements of Bearing, as  the case may be, to be materially different from those expressed or implied by such forward-looking  information, including but not limited to: general business, economic, competitive, geopolitical and social  uncertainties; the closingof any additional tranches of the Private Placement; risks associated with operation in foreign jurisdictions; and other risks inherent in the mining industry. Although Bearing has  attempted to identify important factors that couldcause actual results to differ materially from those  contained in forward-looking information, there may be other factors that cause results not to be as  anticipated, estimated or intended. There can be no assurance that such information will prove to be  accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly,readersshould not place unduereliance on forward-looking information. Bearing  does not undertake to update any forward-looking information, except in accordance with applicable  securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities  in the United States. The securities have not been and will not be registered under the United States  Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and maynot be  offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act

and applicable state securities laws or an exemption from such registration is available. Reader Advisory