LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) is pleased to announce it has been awarded CAD $3,900,000 in non-dilutive funding under the Emissions Reduction Alberta from the province of Alberta to further advance the Boardwalk Lithium Brine Project located in west-central Alberta. The ERA Program will refund the Company 50% of eligible expenditures for each milestone as it is completed up to a total of $3.9M.

“Alberta is a world class jurisdiction with enviable geology and lithium resources. We believe advancing Boardwalk using modular, commercial ready Direct Lithium Extraction technology will reduce development timelines and minimize initial Capex,” commented Rob Shewchuk, CEO & Director of LithiumBank. “Our commercialization strategy will position Boardwalk in the near-term as one of the leading lithium projects in Canada with exponential scale up potential there as well as at Park Place.”

“LithiumBank has shown great success in advancing the Boardwalk lithium brine project to date and continues to demonstrate a pragmatic development approach toward achieving economic lithium production in Alberta,” commented Minister of Environment and Protected Areas, Rebecca Schulz. “Producing lithium from Alberta brine and integrating existing infrastructure aligns Boardwalk with the provinces long-term environmental and economic goals.”

Funding provided from ERA will be used in achieving the following milestones:

1. Complete an additional drill hole through the Leduc formation reservoir at Boardwalk to support an advanced reservoir model, collect additional brine. This test well is situated so it can be converted into a production well in the future;
2. Conduct longer cycle DLE testing and optimization, focusing on concentration and impurity removal testing, and conversion to lithium carbonate; and,
3. Complete a Feasibility Study at Boardwalk that assesses a low Capex, modular approach to lithium production.

The Company expects to complete these tasks by the end of 2026.

The Company has successfully consolidated all the strategic Brine Hosted Mineral Licenses at Boardwalk and Park Place covering the Leduc formation (BHML areas shown in Figure 1). The NI 43-101 resource estimates at Boardwalk and Park Place, as shown below in Figure 1, are both reported as the highest-grade resource estimates in Alberta and together make LithiumBank the largest known holder of lithium brine resources in North America (Figure 2). The two projects are completely unrestricted by overlapping pore space or carbon sequestration applications/permits allowing for a clear path toward permitting of the first DLE module and future additions.

Figure 1: Map of the Park Place and Boardwalk projects highlighting categories of NI 43-101 lithium brine resource estimates.

Notes

1: Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource will ever be upgraded to a higher category. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
2: The weights are reported in metric tonnes (1,000 kg or 2,204.6 lbs).
3: Tonnage numbers are rounded to the nearest 1,000 unit.
4: In a ‘confined’ aquifer (as reported herein), effective porosity is an appropriate parameter to use for the resource estimate.
5: The resource estimation was completed and reported using a cut-off of 50 mg/L Li.
6: To describe the resource in terms of industry standard, a conversion factor of 5.323 is used to convert elemental Li to Li2CO3, or Lithium Carbonate Equivalent (LCE).

Figure 2: Graph of relevant brine hosted lithium resources in North America as of June 1^st, 2025

The information that forms the basis for the scientific and technical information disclosed in this news release was prepared and approved by Kevin Piepgrass, P.Geo, who is a Qualified Person for the purposes of National Instrument 43-101. Mr Kevin Piepgrass consents to the inclusion of the data in the form and context in which it appears.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada, which host some of the largest lithium brine resources in North America (Figure 2). The Company holds 1,237,487 acres of brown-field brine hosted mineral licenses, across three (3) districts in Alberta and Saskatchewan. The Company has pilot tested multiple mature Direct Lithium Extraction technologies and is working toward establishing commercial lithium production by a modular approach.