NEO Appoints Dr. Andrew Fraser & James Suk As Advisors for Non-Dilutive Government Funding

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Vancouver, British Columbia--(Newsfile Corp. - June 9, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) (OTC: NBMFF) ("NEO" or the "Company") is pleased to welcome James Suk and Dr. Andrew Fraser as advisors to support NEO in its initiative to access non-dilutive grants from the Canadian Federal and Provincial Government.

Dr. Andrew Fraser is an expert in the field of chemistry with over 10 years of experience in R&D and writing technical documents. He has received his Ph.D. in Organometallic Chemistry and Catalysis from Queen's University. During his 7-year career as a technical writer, he published over 50 scientific research and experimental development submissions in oil & gas, manufacturing, telecommunications, and biotechnology.

Mr. James Suk has a multitude of experience over the past 25 years in the areas of early-stage seed, angel funds, and planning SR&ED and non-dilutive government grants for start-ups and small-medium sized companies. He is currently Vice President of Technology Advisory at LFG Accounting and Advisory Ltd., leading engagements for SR&ED and Business Tax Incentives.

Mr. Suk and Dr. Fraser will assist NEO in its applications for non-dilutive and non-repayable grants under a variety of programs, including Sustainable Development Technology Canada (SDTC) Research Grant, Clean Growth Program Grant, and provincial government grants.

Concurrently, NEO plans to seek grants and funding from the South Korean government with Dr. Jong Hyeok Park, Chief Scientific Advisor and Director. Dr. Park and his lab has received substantial funding over the past 10 years from the Korean government and large battery technology companies including Samsung and LG. Most recently, Dr. Park was selected as a co-beneficiary with a Stanford University research team, with funding of CAD $1.8 million over 3 years from the South Korean Government.

Spencer Huh, CEO of the Company, said, "We strongly believe that we will be able to access non-dilutive government funding from both Canada and South Korea to speed up our scaling up and pilot plant process while protecting our shareholders' value going forward. By adding Dr. Fraser and Mr. Suk, we could facilitate and expedite our access to this valuable funding."

In addition, Dr. Jinhyuk Lee, NEO's Scientific Advisor, has received meaningful grants spanning multiple years from the Natural Sciences and Engineering Research Council of Canada (NSERC) such as the Discovery Accelerator Supplement and the Discovery Grant.

Dr. Lee commented, "I am glad to have two valuable advisors for NEO and will work closely with Dr. Park, Dr. Fraser, and Mr. Suk to achieve access to both Canadian and Korean government grants. NEO's strategic approach will not only benefit the Company and shareholders but also Canada and Korea, potentially strengthening battery technology development and supply chain of both countries."

About Dr. Jong Hyeok Park

Dr. Jong Hyeok Park is the Chief Scientific Advisor and Director of NEO Battery Materials Ltd. He has served as a Senior Researcher for LG Chem and is the co-developer of LG Chem's core innovative technology of the Safety-Reinforced Separator (SRS). Dr. Park owns a total of 92 patents and is currently a Professor of Chemical and Biomolecular Engineering at Yonsei University in Seoul.

About Dr. Jinhyuk Lee

Dr. Jinhyuk Lee is a Scientific Advisor of NEO Battery Materials Ltd. He has received his Ph.D. from MIT and is an Assistant Professor of Materials Engineering at McGill University. Dr. Lee is widely known as the investor of disordered-rock salt lithium-ion battery cathodes, which is being highlighted as one of the highest energy-density and cheapest cobalt-free material for next-generation batteries.

About NEO Battery Materials Ltd.

NEO Battery Materials Ltd. is a Vancouver-based resource company focused on battery materials development. The Company is focusing on developing silicon anodes through nanocoating an ion-conductive elastomer layer, which provides improvements in capacity and efficiency over lithium-ion batteries using graphite in their anode materials. The Company intends to become a silicon anode materials supplier to the electric vehicle industry. 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. For more information, please visit the Company's website at:

On behalf of the Board of Directors
Spencer Huh
President and CEO
[email protected]

This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of technologies which have not yet been tested or proven on a commercial scale, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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