BARREL SAMPLES UP TO 2.5% LI2O AT TITAN X PROJECT, TANZANIA

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Las Vegas, NV., July 12, 2023 (GLOBE NEWSWIRE) — Barrel Energy Inc., (OTC Markets: BRLL) (the “Company” or “Barrel”) is pleased to announce additional soil geochemical sampling results from prospecting a central portion of the company’s Titan X lithium property in Tanzania.

The Titan X project is located directly south of, and adjacent to, the Titan 1 project of Titan Lithium Inc. Both Titan X and Titan 1 occur within a large northeast-southwest-striking rift valley that served to trap lithium-rich source volcanics and sediments in this area of the East African Rift.

The new samples were collected during our second phase of soil geochemical work a distance of up to 2.5 miles south of northern claim boundary. The newly covered area serves to further extend the Titan X sample coverage south of those reported previously in the Company news release dated June 13, 2023.

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From the combined results, we note that positive Lithium geochemical values average now 3,985 ppm Lithium over a sampled area of approximately 2,400 acres. The highest value in the new sample set returned 11,600 ppm Li (2.5 % Li2O) which was located 0.7 miles (1.14km) west from the previous lithium high value in the first batch which was 6,100 ppm Li (1.32% Li2O).

Craig Alford, MSc, PGeo, a Qualified Person under NI 43-101 and CEO of the Company, noted “The new samples have extended the Titan X lithium anomaly to the south and this coverage now more than doubles the sampled area from our initial reported results. Our surficial lithium values continue to return extremely high values and we plan addition sampling in the west where we are observing the highest grades so far on the project.”

All samples were collected and transported to the laboratory under the direct supervision of a qualified person. The soil samples were recovered from the B-soil horizon and placed in cloth sample bags. The samples were thoroughly dried at 60oC during preparation and analyzed at the independent and ISO 9001 certified African Minerals and Geosciences Centre (AMGC) in Dar es Salaam.

About Barrel: Barrel Energy Inc., (OTC Markets: BRLL) is focused on several ventures within the green energy and battery minerals sector and the rapid development of valuable production opportunities throughout North America and abroad. The company holds important joint venture agreements to advance technologies and processes for Electric Vehicle batteries.

Please visit our new website www.barrel.energy and our twitter www.twitter.com/barrelenergy for more updates. 

Contact:  Harp Sangha/Chairman

+17025952247/[email protected]

Forward-Looking Statements:

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers.  Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Security and Exchange Commission.

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