CARAVEL CAPITAL FUND LTD. ANNOUNCES ADDITIONAL INVESTMENT IN LITHIUM SOUTH DEVELOPMENT CORPORATION

TORONTO, April 6, 2026 /CNW/ - Caravel Capital Fund Ltd. ("Caravel") announces that it has acquired ownership of, and control over, an additional 2,823,000 common shares of Lithium South Development Corporation ("LIS").

Specifically, on April 6, 2026, Caravel acquired 2,823,000 common shares through the facilities of the TSX Venture Exchange at a price of $0.498 per share (the "Acquisition"), representing approximately 2.15% of the outstanding common shares.

Prior to the Acquisition, Caravel owned and exercised control over an aggregate of 13,099,000 common shares of LIS, representing 9.9% of the outstanding common shares.

Immediately after the Acquisition, Caravel owns and exercises control over an aggregate of 15,922,000 common shares of LIS, representing 12.15% of the outstanding common shares.

The shares were purchased for investment purposes. Caravel may, from time to time, acquire additional common shares or dispose of some or all of its current or additional common shares in the normal course of its investment activities.

In accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Caravel will file an early warning report regarding this transaction under the issuer profile of LIS on SEDAR+ (www.sedarplus.ca).  The head office of LIS is located at 750 West Pender Street, Suite 804, Vancouver, British Columbia V6C 2T7.

About Caravel

Caravel Capital Fund Ltd. is an investment fund focused on creating value across a variety of businesses with a long term horizon. Caravel is incorporated under the laws of The Bahamas.

SOURCE Caravel Capital Fund Ltd.

For further information or to obtain a copy of the early warning report, please contact Glenn Gibbons, Director of Caravel at 416-558-9500.