Lithium Ionic Corp. (TSX-V: LTH) reports additional excellent drilling results from the Galvani claims, which the Company recently acquired (see Sept. 12, 2022, press release) following a thorough due diligence review. The Galvani claims, as well as its neighbouring 100%-owned Itinga Lithium Project (Areas 1-5) are located in the state of Minas Gerais, Brazil, in the same district as the lithium producing CBL mine and Sigma Lithium’s Barreiro deposit (20.4Mt grading 1.4% Li2O) (see Figure 1, location map).

New Galvani Drill Results Highlights (See Figure 2 and Table 1)

• Drill intercept of 1.68% Li2O over 20.7m, incl. 2.22% Li2O over 8.63m (ARDD-22-009)
• Drill intercept of 1.77% Li2O over 10.85m (ARDD-22-013)
• Drill intercept of 1.30% Li2O over 38.5m (ARDD-22-014)

Previously Reported Drill Result Highlights from Galvani Claims

• Drill intercept of 1.94% Li2O over 19.78m, incl. 2.33% Li2O over 7.35m
• Drill intercept of 1.27% Li2O over 10.77m, incl. 1.70% Li2O over 3.53m
• Drill intercept of 1.57% Li2O over 24.93m, incl. 2.10% Li2O over 7.45m
• Drill intercept of 1.17% Li2O over 42.05m, incl. 1.95% Li2O over 11.72m

Blake Hylands, Chief Executive Officer of Lithium Ionic, commented, “We are very encouraged to continue intersecting shallow and high-grade lithium zones within our now acquired Galvani claims and we look forward to conducting further exploration to improve our understanding of the structural controls of mineralization in this area with the belief that we will be able to define a meaningful resource in the near-term.”

Subsequent to the completed acquisition of the Galvani claims announced on September 12, 2022, the Company will be expanding upon the drill program it initiated in June 2022. As part of its due diligence review, Lithium Ionic successfully confirmed historic drilling results and also identified new zones of mineralization beyond the ~0.7km strike pegmatite with strong lithium values over significant widths. The Company has engaged Foraco International, a prominent global drilling company with extensive experience working with other local lithium companies in the region, who has recently mobilized two additional drill rigs on its properties to ramp up drilling efforts. The Company is now aggressively drilling with a total of five drill rigs.

The Galvani property is located less than 4 kilometres from Sigma Lithium’s Xuxa deposit (over 17Mt grading 1.55% Li2O M+I). The high grade and large widths of the intercepts to date demonstrate excellent potential to outline a significant resource very quickly. Mineralization is hosted in spodumene bearing pegmatites sourced from the same granitic intrusive, which characterizes Lithium Ionic’s Project Area 1, CBL’s lithium mining operation, and Sigma Lithium’s resources (Figure 2).

Figure 1: Itinga Project (Areas 1-5) and Galvani Claims location and geology map. Note the surface expression of the CBL lithium mine in the northeast corner of Project Area 1 and Sigma Lithium’s Barreiro deposit to the southeast.

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Figure 2: Galvani Pegmatite and Drill Hole Locations

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Table 1. Galvani Drill Results

About Lithium Ionic Corp.

Lithium Ionic is a Canadian-based lithium-focused mining company with properties covering ~2,000 hectares located in the prolific Aracuai lithium province in Minas Gerais State, Brazil, which boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water, and nearby commercial ports. Its Itinga and Galvani claims are located in the same district as the lithium-producing CBL mine and development-stage Sigma Lithium Corp.’s (TSXV: SGML; NASDAQ: SGML) large Barreiro and Xuxa lithium deposits.

Quality Assurance and Control

During the drill program, assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at SGS Laboratory, a certified commercial laboratory, and the other half was retained for results, cross checks, and future reference. A strict QA/QC program was applied to all samples. Every sample was processed with Drying, crushing from 75% to 3 mm, homogenization, quartering in Jones, spraying 250 to 300 g of sample in steel mill 95% to 150. SGS laboratory carried out multi-element analysis for ICP90A analysis.

Qualified Persons

The technical information in this news release has been prepared by Carlos Costa, Vice President Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic, and both are “qualified persons” as defined in NI 43-101.