NEO Battery Materials Enters into Collaborative Development Agreement with YUIF Regarding Silicon Anode Technology

Vancouver, British Columbia--(Newsfile Corp. - May 17, 2021) - NEO Battery Materials Ltd. (TSXV: NBM) ("NEO" or the "Company") is pleased to announce that NEO has entered into a collaborative development agreement (or "Collaboration") with Yonsei University-Industry Foundation ("YUIF"). The objective of the Collaboration is to conduct research and forward the development and commercialization of the proprietary ion-conductive polymer nanocoating technology for silicon anode applications.

Spencer Huh, President and Chief Executive Officer, commented, "We are delighted to be partnered with YUIF to collaboratively develop our proprietary silicon anode technology. Our disruptive technology holds the potency to remove the bottleneck for electric vehicles through silicon's superior electrochemical properties. We look forward to advance this partnership for further productive opportunities."

Under this Collaboration, NEO will jointly develop its nanocoating technology to enhance the performance and durability of silicon anodes materials in lithium-ion batteries (LiBs). NEO's technology also aims to improve the flexibility and specific capacity of the respective anode active material, increasing the energy density and life span of LiBs in electric vehicle, consumer electronics, and energy storage applications. Utilizing lean and efficient process steps, NEO believes that its unique single-stop process will enable cost-effective and scalable production.

The term of the Collaboration will continue for a period of 3 years from May 10, 2021. Any potential IP rights resulting from the Collaboration will be wholly owned by NEO Battery Materials.

Leading research and development will be Dr. Jong Hyeok Park, Director and Chief Scientific Advisor. Dr. Park was previously a Senior Researcher for LG Chem with a total of 92 patents and co-invented the world's first safety-reinforced separator (SRS). He is currently a technology advisor for next-generation batteries at Samsung Advanced Institute of Technology (SAIT) and a Professor of Chemical and Biomolecular Engineering at Yonsei University.

About NEO Battery Materials Ltd.

NEO Battery Materials Ltd. is a 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
[email protected]

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