LithiumBank Resources Corp (LBNK) Share Price

LithiumBank Reports >98% Recovery of Lithium from Brine During Direct Lithium Extraction Pilot Testing
CALGARY, Alberta, September 11th, 2024 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V:LBNK) (OTCQX: LBNKF) (“LithiumBank'' or the “Company”) is pleased to announce it has successfully recovered greater than 98% of lithium from brine during initial pilot plant operations at the Company’s 10,000 litres/day Direct Lithium Extraction (“DLE”) facility in Calgary. The DLE pilot campaign processed over 40,000 litres (“L”) of brine sourced from four wells located within the indicated resource area (Figure 1) of the 100% owned Boardwalk Lithium Brine Project (“Boardwalk”) located in west-central Alberta. Pilot testing will now focus on the desorption stage, where lithium is stripped from the IX sorbent. These results will be reported as they become available.

“Successfully recovering over 98% lithium from Boardwalk brine at the pilot scale is a very significant achievement for LithiumBank,” comments LithiumBank Executive Chairman Paul Matysek. “Consistently achieving this level of recovery at scale is of paramount importance as we work towards efficiently producing a battery grade lithium. These initial recovery results confirm bench-scale test work used in our 2024 Preliminary Economic Assessment (“PEA”) for Boardwalk. This recent work further validates our DLE lithium extraction process and is an essential milestone for unlocking value.”

The initial piloting campaign focused on the absorption/recovery portion of the DLE process. This campaign continuously processed 40,000 L of brine over 4.5 days to recover lithium. This process was run using continuous DLE (“cDLE®”) licensed from LithiumBank’s DLE technology partner, Go2Lithim Inc (“G2L”). The patented cDLE® process allows lithium-rich brine to continuously flow through the absorption contactors in a counter-current flow to the ion exchange (“IX”) sorbent. The sorbent is designed to selectively recover lithium ions from the brine. Having now continuously processed Boardwalk brine through the pilot plant for approximately 120 hours, pilot testing will now focus on the desorption stage, where lithium is stripped from the IX sorbent.

The cDLE® process operates as a continuous flow system in which the brine and sorbent move in opposite directions. Earlier laboratory test results suggested that a brine-to-sorbent flow ratio of 80 would be needed to achieve an expected lithium recovery of 98%. The pilot plant campaign was initiated at this specified ratio, with the flexibility to adjust the flow rate if the target recovery was not met.

Once the circuit reached a steady state (between 50 and 100 hours of runtime), the feed brine averaged 70 mg/L (ranging from 67 to 74 mg/L), while the barren brine averaged 0.7 mg/L (ranging from 0.2 to 1.1 mg/L). During this period, lithium recovery remained consistently in the 98–99% range, aligning well with the bench-scale results of 98.5% used in the updated Boardwalk PEA.

During the 120-hour piloting campaign, analytical support from AGAT monitored the lithium concentration of brine entering and exiting the sorption circuit on an hourly basis. Additionally, lithium concentrations were tracked in each contactor to assess the removal efficiency at each stage of the sorption circuit.

https://mailchi.mp/4440afff8461/lithiumbank-management-update-17821302?e=8f86590d89

Is $.25 the bottom?

LithiumBank Announces Largest Known Lithium-Brine Resources in North America and Highest Resource Grade in Alberta

Calgary, Alberta. June 24th, 2024
LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank'' or the “Company”) is pleased to announce the initial National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) lithium-brine mineral resource estimates of 10,078,000 tonnes of inferred Lithium Carbonate Equivalent (“LCE”) at a grade of 79.4 mg/L lithium within the Leduc Formation (“Fm”) aquifer, and 11,603,000 tonnes inferred LCE at 80.9 mg/L lithium within the Swan Hills Fm aquifer underlying its 100% owned Park Place lithium brine project (“Park Place”) located in west-central Alberta. The initial mineral resource estimate assessments were prepared by global technology company SLB (NYSE: SLB) using 3D static modelling mining workflows. These assessments were then used to determine the resource estimates and reviewed and validated by a Qualified Person as defined by National Instrument 43-101 of Canada. The total inferred mineral resource for the Park Place project is 21,681,000 tonnes LCE between the two formations contained within the license boundaries with a combined average grade of 80.2 mg/L lithium. The Company anticipates filing a NI 43-101-compliant technical report in respect of Park Place on SEDAR+ within 45 days of this announcement.

“LithiumBank spent the past five-years consolidating Park Place brine hosted mineral licenses. This work has now culminated in 100% ownership of the largest LCE inferred mineral resource in North America and with the highest recorded lithium grade in Alberta. This is a remarkable achievement for the Company. The Park Place resource puts LithiumBank’s collective lithium brine resources inventory for the Company’s Alberta projects at 27.78 million tonnes LCE. This presents district scale potential opportunity for Canada to become a major supplier of lithium in North America” commented LithiumBank CEO, Rob Shewchuk. “The Company will now focus on additional brine sample assaying, completing lithium extraction test work, and initiate a Preliminary Economic Assessment (“PEA”) for Park Place. We believe this can be expeditiously achieved as we can make use of our knowledge gained from our Boardwalk PEA, effectively dated February 22, 2024, located approximately 50 km to the north, in which the Leduc Formation brine is similar in chemistry, depth of resource, porosity and permeability. Park Place brine will be chemically and metallurgically evaluated at the Company’s, exclusively licensed, 10,000 L/day Direct Lithium Extraction (“DLE”) pilot plant in Calgary following a bulk brine sampling program in H2 2024.”

Highlights:

Park Place is the largest known NI 43-101 inferred lithium brine resource estimate in North America.
Highest known reported lithium-in-brine grades used in a NI 43-101 inferred lithium resource estimate in Alberta.
10,078,000 tonnes inferred LCE within the Leduc Fm aquifer at an average of 79.4 mg/L lithium.
11,603,000 tonnes inferred LCE within the Swan Hills Fm aquifer, which underlies the Leduc Formation, at an average of 80.9 mg/L lithium.
Multiple high porosity areas occur that have a combined Leduc & Swan Hills Fm thickness of over 350 metres, and as high as 510 m, to be studied for potential selection of future PEA.
Subsurface reservoir modelling conducted by SLB included data from 420 wells, 104 km2 of 3D seismic data and 262 km of two-dimensional (“2D”) seismic data.
Technical work pertaining to mineral resources to be documented in the technical report was performed by SLB, and overseen by Qualified Persons from Matrix Solutions Inc.
The subsurface reservoir model constructed by SLB will assist in planning well networks and locations in future economic and engineering studies such as a PEA; and
Park Place bulk brine sample collection to occur in H2 2024 to be included in the 10,000 L/day continuous direct lithium extraction (“cDLE”) pilot plant test work located in the Company’s DLE facility in Calgary, Alberta.

Figure 1: Map of the Park Place project showing Area of Interest (“AOI”) and lithium brine samples used in the Park Place NI 43-101 resource estimate along with surface infrastructure.
The consolidated Park Place project consists of 1,404,558 acres of contiguous Brine Hosted Mineral Licenses (“BHML”). The project is situated between Edson, Fox Creek, and Hinton, approximately 180 km west of Edmonton, and is approximately 50 km to the south of the Company’s Boardwalk lithium brine project (“Boardwalk”). This area has seen over 70 years of hydrocarbon extraction resulting in a well-established and well-trained labour force, networks of all-weather gravel roads, drill sites that can be easily accessed from Provincial highways, and electrical transmission lines that run through and adjacent to the project (see Figure 1).

Reservoir Evaluation

The reservoir evaluation was completed by SLB and overseen be Alex Haluszka, M.Sc., P.Geo. of Matrix Solutions Inc., a qualified person (“QP”) under NI 43-101.

The Park Place NI 43-101 mineral resource estimate includes inferred mineral resources from both the Leduc and Swan Hills Formations of 21,681,000 tonnes LCE at a weighted average grade of 80.2 mg/L lithium (Table 1). Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The mineral resource estimate work was prepared within a portion of the Park Place Property (81%) that is defined as the area of interest (“AOI”) and totals 1,140,115 acres (Figure 1). The Swan Hills Fm directly underlies the Leduc Fm and appear to be in hydraulic communication based on regionally available pressure data. While they may represent a regionally connected aquifer system, the two formations are evaluated separately due to an identifiable difference in lithology and porosity. The Swan Hills Fm is mapped to from 24 to 264 m in thickness within the claims area and the Leduc Fm immediately overlies the Swan Hills Fm, where present, with a maximum thickness of 366 m within the claims area. The maximum observed combined thickness where the two units overlap within the property is 511 m of highly porous reservoir rock occur that would potentially present ideal locations for consideration within a PEA (Figure 2).
Figure 2: A-A’ Cross-section through Park Place (as shown in Figure 3) of the effective porosity model for Leduc Fm and Swan Hills Fm.

Table 1: Park Place Lithium global in-situ Inferred Mineral Resource Estimations
1. Total volume of rock and pore space
2. Total volume of effective porosity
3. Calculated using a weighted average (by pore volume) from the average grade of the Leduc and Swan Hills formations
4. Calculated using a weighted average porosity by total formation volume for both Leduc and Swan Hills formations

Note 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.
Note 2: The weights are reported in metric tonnes (1,000 kg or 2,204.6 lbs).
Note 3: Tonnage numbers are rounded to the nearest 1,000 unit.
Note 4: In a ‘confined’ aquifer (as reported herein), effective porosity is an appropriate parameter to use for the resource estimate.
Note 5: The resource estimation was completed and reported using a cut-off of 50 mg/L Li.
Note 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).
The NI 43-101 mineral resource three-dimensional model utilized over 1,171 wells that have been drilled into the Devonian aged strata being evaluated. Of the 1,171 wells, 420 have good quality data to make stratigraphic picks within the AOI as shown in Figure 3. The dataset consisted of 196 wells intersecting the top of the Leduc Fm, 300 wells intersecting the top of the Swan Hills Fm, and 236 wells intersecting the bottom of the Swan Hills Fm.

SLB constructed 3D geological and porosity models in Petrel™ subsurface software by using existing well logs and a combination of 3D and 2D seismic data acquired throughout the AOI at Park Place. SLB conducted petrophysical analysis of 118 wells, processed and interpreted 3D and 2D seismic data to correlate between acoustic impedance and porosity. Porosity data was parameterized in a 3D grid by distributing the porosity evaluated from well logs using a variogram derived from 3D and 2D seismic impedance data. Log porosity was verified via direct petrophysical correlations to core porosity measurements. This demonstrated that the petrophysical log-based porosity correlates well with effective core porosity.

Figure 3: Tonnage map of the Park Place indicating A-A’ cross-section from figure 2 and wells used for stratigraphic picks.
Total in-place formation brine volume was obtained by multiplying the total rock volume of the Leduc and Swan Hills Fm within the AOI using the estimated porosity volume of the 3D grid.

An analysis of available oil and gas reserves information indicates an original hydrocarbon saturation of these reservoirs of approximately 5%. SLB models provided estimated volumes of each formation within the claims area by summing the effective porosity grid blocks overlapping the claims and assuming 95% of the pore space being brine saturated:

The Leduc Fm, within the AOI, hosts 23.8 km3 of lithium-rich brine.
The Swan Hills Fm, within the AOI, hosts 26.9 km3 of lithium-rich brine.
Combined total of 50.8 km3 of brine within the AOI at Park Place.

North American Brine Resources
Figure 4: Comparison of LCE brine resources by select companies. With the addition of the Park Place inferred lithium resource, LithiumBank is now the largest known holder of inferred LCE brine resources by a company in North America.
Inferred Mineral Resource Calculation Process

During 2022 and 2024, LithiumBank obtained permission from two oil and gas companies to collect Leduc and Swan Hills formations brine samples from 2 separate oil and gas wells for the purpose of analytical testing.

Three brine samples were collected from a 72-metre-thick vertical interval at the top of the Leduc Fm from well 100/12-03-059-23W5/00 and returned grades ranging between 71.2 – 82.0 mg/L lithium with an overall average of 77.2 mg/L lithium (Figure 1).
Three brine samples were collected from a 2-metre-thick vertical interval at the top of the Swan Hills Fm in well 100/01-23-062-20W5/00 returning grades between 75.5 – 84.9 mg/L lithium with an overall average of 80.1 mg/L lithium.

Samples were analysed at AGAT Laboratories, an ISO 17025:2017 certified lab, in Calgary Alberta. LithiumBank implemented Quality Control and Quality Assurance (QA/QC) protocols for the analysis. Testing of brine samples from the 2 wells included duplicate samples, sample blanks, and laboratory-prepared sample standards. Samples were collected from the well head by BV Labs technicians (Leduc samples) and AGAT Lab technicians (Swan Hills samples) and couriered to AGAT Laboratories for analysis in Calgary.

The LithiumBank brine sampling and analytical programs showed the Leduc and Swan Hills Formation aquifers underlying the Park Place Property contain elevated concentrations of lithium and the sampling program validated the post-2010s minerals industry exploration Li-brine results, with the exception of the historical Li-brine data compiled by the Government of Alberta (“GoA”). Hence, a total of 40 LithiumBank-derived and historical brine samples were used to determine the grade for the inferred mineral resource estimations (7 brine analyses from the Leduc Fm and 33 brine analyses from the Swan Hills Fm). Furthermore, Roy Eccles, a QP under NI 43-101 was involved in the historical minerals industry Li-brine sample collection campaigns and can therefore validate the collection, chain-of-custody, and analytical procedures that were used to determine select historical lithium-brine values. The QP was not able to validate the GoA data for use in the resource modelling and estimation process.

The QP assessed both within-property and adjacent property Li-brine data using historical mineral industry- and LithiumBank-derived Li-brine values. In the QPs opinion average Li-brine concentrations of 79.4 mg/L Li and 80.9 mg/L Li should be used to estimate the Li-brine mineral resources for the Leduc and Swan Hills aquifers, respectively, underlying the Park Place property. Additional brine sampling and assay testing is required at Park Place to provide additional confidence to the distribution of lithium within the Leduc Fm and Swan Hills Fm aquifers.

Resource Estimate Calculation

The NI 43-101 mineral resource estimates were calculated as a global in-situ resource within the Leduc and underlying Swan Hills formations. The Park Place Li-brine resource estimate is classified as an inferred mineral resource in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum definition standards and best practice guidelines (2014, 2019) and the disclosure rule NI 43-101 as adopted by the Canadian Securities Administrators.

Combined, the Leduc and Swan Hills Fm aquifers consist of a total of 1,161.7 cubic kilometres (Leduc Fm = 501.2 km3 and Swan Hills 660.5 km3). Within the aquifers, the Leduc Fm hosts 23.8 km3 of brine with a lithium concentration of 79.4 mg/L and the Swan Hills Fm hosts 26.9 km3 of brine with a lithium concentration of 80.9 mg/L. Total elemental lithium in the Leduc Fm is 1,893,000 tonnes and 2,180,000 million tonnes in the Swan Hills Fm. To determine the amount of elemental lithium the following formula was used:

RLi = A x T x P x C

With RLi = lithium resources of selected reservoir(kg), A = surface area (km2), T = thickness (m), P = effective porosity (expressed between 0 and 1), C = average concentration (mg/l).

Multiplying the elemental lithium by a factor of 5.323 determines the LCE quantities that are stated to be 9,643,000 tonnes inferred LCE in the Leduc Fm and 11,372,000 tonnes inferred LCE in the Swan Hills Fm. The combined inferred lithium-brine resource estimate of both the Leduc and Swan Hills Formations is 21,681,000 tonnes LCE with a weighted average lithium grade of 80.2 mg/L. Figure 3 illustrates the combined (Leduc and Swan Hills Fm) tonnage map of the AOI with hotter colours indicating areas of higher combined tonnage.

An evaluation of permeability of the reservoir was completed in addition to the reservoir pore volume. The QP for reservoir evaluation believes there is sufficient permeability and pressure within the reservoir that brine production wells can be completed to deliver brine to surface for consideration in future economic assessment scoping studies

Lithium Extraction Evaluation

The evaluation of the suitability of applying DLE as a mineral processing technology for Park Place has been overseen by Maurice Shevalier, P.Chem, of Matrix Solutions Inc., QP as defined in NI 43-101.

LithiumBank has yet to conduct mineral processing test work on brine from Park Place; however, brine characteristics of the Leduc Fm and the Swan Hills Fm at Park Place are similar enough to the brine at Boardwalk to safely assume the DLE technology used to extract lithium from the brine will be successful at Park Place. The Company is expected to conduct a bulk brine sampling program from both the Leduc and Swan Hills formations in H2 2024. Park Place will benefit from an existing, exclusive licensing agreement with G2L Greenview Resources Ltd. (“G2L”) and piloting with their cDLE® Ion Exchange (“IX”) technology. The G2L IX technology is unique in that it is designed to work at high flow rates while maintaining a very high recovery of lithium (98%) and achieving a high purity (70%) lithium eluate, as reported in the Boardwalk PEA dated effective February 22, 2024. The Boardwalk PEA demonstrates that lower cost and readily available reagents such as quick lime (CaO) and sulphuric acid (H2SO4) can produce a high purity lithium sulphate eluate and lowering the cost of downstream processing of an LHM.

The scientific and technical information relating to the Park Place mineral resources presented in this news release has been reviewed and approved by Mr. Alex Haluszka P. Geol. of Matrix Solutions Inc. Mr. Alex Haluszka is independent of LithiumBank and the Park Place property, and a Qualified Person as defined by NI 43-101.

The scientific and technical information relating to the Park Place mineral resources, related to the potential of lithium extraction, presented in this news release has been reviewed and approved by Mr. Maurice Shevalier, P.Chem, of Matrix Solutions Inc. Mr. Maurice Shevalier, P.Chem, is independent of LithiumBank and the Park Place property, and a Qualified Person as defined by NI 43-101.

The scientific and technical information relating to the brine sampling and lithium grade validation for the Park Place mineral resources presented in this news release has been reviewed and approved by Mr. Roy Eccles P. Geol. of APEX Geoscience Ltd. Mr. Eccles is independent of LithiumBank and the Park Place Property, and a Qualified Person as defined by NI 43-101.

Risks and Uncertainties

There is no guarantee that a company can successfully extract lithium from Alberta’s Devonian petroleum system in a commercial capacity. Initial mineral processing bench-scale and/or demonstration pilot test work may not translate to a full-scale commercial operation.

LithiumBank has been dependent on petro-companies to access brine for chemical analysis. In the absence of not owning their own wells, LithiumBank must work with petro-companies to obtain small and bulk brine samples to build on its current data set. The Company is currently negotiating to selectively acquire existing wells within the AOI, similar to what the Company has done at Boardwalk (news release, May 16, 2024) to allow for additional brine sampling.

The information used to quantify the reservoir effective porosity was historical information collected through petroleum exploration in the study area. Therefore, there is an implicit bias in this dataset towards portions of the reservoir that are hydrocarbon saturated. Although the QP believes the reservoir properties are sufficiently representative of the bulk formation, this will need to be confirmed through continued exploration and data collection. The existing measurements come from a combination of secondary physical properties (geophysics) and core analysis that were upscaled to the bulk reservoir volume. The bulk reservoir properties have not yet been confirmed through targeted exploration drilling and pumping tests from the brine resource interval. Furthermore, DLE technologies have not been tested directly as an extraction technique for the Park Place brines. At the current time, DLE applicability has been inferred from testing activities completed at LithiumBank’s other properties.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF), is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada. The Company holds 2,130,470 acres of brown-field lithium brine licenses, across three (3) districts in Alberta and Saskatchewan. The Company has licensed a DLE technology from Go2Lithium.

About G2L Greenview Resources Inc. (Go2Lithium)

G2L Greenview Resources Inc is a 100% owned subsidiary of Go2Lithium Inc. Go2Lithium Inc. was formed in early 2023 as a 50/50 joint venture between Computational Geosciences Inc (CGI), a subsidiary of the Robert Friedland-chaired Ivanhoe Electric Inc. (NYSE:IE) and Clean TeQ Water (ASX:CNQ). Please see Clean TeQ’s website (www.cleanteqwater.com) for additional information on their suite of water treatment and metal extraction technologies.

Contact:
Rob Shewchuk
CEO & Director
rob@lithiumbank.ca
(778) 987-9767

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the Company’s expectations regarding the completion and filing of a technical report in respect of Park Place, and the timing thereof; the anticipated Park Place bulk brine sample collection and timing thereof; the Company’s expectation that there is sufficient permeability and pressure within the Park Place reservoirs that brine production wells can be completed to deliver brine to surface at economical production rates; the Company’s belief that DLE technology used to extract lithium from the brine will be successful at Park Place; the Company’s expectations regarding the Park Place resource estimate representing a great opportunity for Canada to become a major supplier of lithium in North America; the Company’s expectations regarding the future lithium supply needs in North America; the Company’s intention to focus on completing a PEA on the Park Place project; the Company’s expectation that the Park Place PEA can be completed expeditiously; the Company’s expectation that similarities in chemistry, depth of resource, porosity and permeability between the Boardwalk project and the Park Place project, as well as the knowledge gained from the Boardwalk PEA will expedite completion of the Park Place PEA; the expectation that Park Place will benefit from the licensing agreement with G2L and its brine will be fully evaluated at the Company’s DLE pilot plant and the timing and efficiency of such evaluation;; the expectation that the Park Place subsurface reservoir model will be considered in future economic and engineering studies; the Company’s expectation that its sampling and analysis method has produced conservative results that avoid over-estimation of the mineral resources at Park Place; the Company’s expectation that Park Place will benefit from the existing, exclusive licensing agreement with G2L and their IX technology; the Company’s expectation that the IX technology will produce high flow rates while maintaining a very high recovery of lithium (98%) and achieving a high purity (70%) lithium eluate; and the Company’s expectation that lower cost and readily available reagents can produce a high purity lithium sulphate eluate and lowering the cost of downstream processing of an LHM are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates,” or variations of such words and phrases or statements that certain actions, events, or results “may,” “could,” “should” or “would” or occur.

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will complete and file a technical report in respect of Park Place, and will do so on the timeline indicated; that the Company will be able to complete Park Place bulk brine sample collection and on the timelines anticipated; that there is sufficient permeability and pressure within the Park Place reservoirs that brine production wells can be completed to deliver brine to surface at ecnominal production rates; that DLE technology used to extract lithium from the brine will be successful at Park Place; that Canada can become a major supplier of lithium in North America; that future lithium supply needs in North America will be significant; that the Company will be have the time and resources to focus on completion of a PEA on the Park Place project; that the Park Place PEA can be completed expeditiously and that the similarities between the Boardwalk and Park Place projects and the Company’s knowledge gained from completion of the Boardwalk PEA will assist expedite the completion of the Park Place PEA; that evaluation of the Park Place brine can be completed efficiently at the Company’s DLE pilot plant on the timelines anticipated and Park Place will benefit from the licensing agreement with G2L; the scale at which the Company is able to advance benchmark extraction test work to any potential fully commercial operation; that the subsurface reservoir model at Park Place will assist in planning brine production zones and associated well networks in future economic and engineering studies; that the existing, exclusive licensing agreement with G2L and their IX technology will continue and the Company will obtain the anticipated benefit from such licensing agreement; and that the Company’s use of lower cost and readily available reagents will produce high purity lithium sulphate eluate and that this will lower downstream processing costs.

These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that the Company will be unable to complete and file a technical report in respect of Park Place, or will be unable to do so on the timeline indicated; the risk that the Company will be unable to complete Park Place bulk brine sample collection or will be unable to do so on the anticipated timelines; the risk that there is insufficient permeability or pressure within the Park Place reservoirs that brine production wells cannot be completed to deliver brine to surface or cannot do so at economical production rates; the risk that DLE technology used to extract lithium from the brine will not be successful at Park Place; the risk that Canada is unable to become a major supplier of lithium in North America; the risk that lithium supply needs in North America are lower than currently anticipated; the risk that the Company is unable to expend the time or resources necessary to complete the Park Place PEA; the risk that the Company cannot expeditiously complete the Park Place PEA and that the similarities between the Boardwalk and Park Place projects and the knowledge gained from completion of the Boardwalk PEA does not expedite completion of the Park Place PEA; the risk that the Company’s DLE pilot plant is unable to efficiently accommodate the evaluation of Park Place brine and Park Place will not benefit from the licensing agreement with G2L; the risk that the Company is unable to establish large scale production facilities; the risk that the Park Place subsurface reservoir model will not assist in planning brine production zones and associated well networks in future economic and engineering studies; the risk that the Company’s sampling and analysis method did not produce conservative results and over-estimated the mineral resources at Park Place; the risk that the exclusive licensing agreement with G2L is terminated or that the IX technology is ineffective and fails to produce a high recovery of lithium or a high purity of lithium eluate; and the risk that the Company’s use of lower cost and readily available reagents does not produce a high purity lithium sulphate eluate and downstream processing costs are not lowered or are potentially increased.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

https://mailchi.mp/17f00d1d0d9f/lithiumbank-management-update-17648090?e=8f86590d89

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LithiumBank Receives License for Well at Boardwalk Lithium Project, Alberta, Canada

CALGARY, Alberta, May 16th, 2024 -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank'' or the “Company”) is pleased to announce the acquisition of a wellbore within its 100%-owned Boardwalk Lithium Brine Project located in west-central Alberta, Canada.

The Alberta Energy Regulator (AER) approved the transfer of 100% ownership of well ID: 100/10-06-069-21W5/00 (“10-6”), along with surface rights and road access from the previous owner/operator to LithiumBank. The 10-6 well is a past producing oil and gas well, and since 2005, has produced hydrocarbons and brine from the Sturgeon Lake South oil field at the top of the Leduc Formation (“Fm”). The well is in the eastern portion of Boardwalk’s ‘Production Zone’ as described in the Company’s January 2024 Preliminary Economic Assessment (“PEA”) as shown in Figure 1. The Production Zone hosts Boardwalk’s Indicated 395,000 tonnes LCE resource at 71.6 mg/L lithium with 5.734 million tonnes LCE at 68.0 mg/L Li Inferred. Acquisition of the 10-6 well will allow LithiumBank to access brine as required for Direct Lithium Extraction testing in our 10,000 litre/day pilot plant and confirm the continuity of the lithium brine reservoir. The Company intends to deepen the well and test the lower Leduc intervals in the coming months.
Figure 1: Boardwalk Project Map
Within the boundary of the Boardwalk project, the Leduc reef has a thickness of approximately 230 to 380 m (average and maximum thicknesses of 206 m and 408 m) along a southwest to northeast cross section (Hydrogeological Consultants Ltd., 2012). See Figures 2 & 3. It hosts ~17 km3 of lithium-rich brine that may produce 34,005 t LHM per year in the development scenario envisioned in the Company’s January 2024 PEA. LHM, or Lithium Hydroxide Monohydrate is a commercial-grade product that may be used in a variety of battery cell applications.

Table 1: Boardwalk Project 2024 Resource Estimates
Note 1: Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Note 2: The weights are reported in metric tonnes (1,000 kg or 2,204.6 lbs).
Note 3: Tonnage numbers are rounded to the nearest 1,000 unit.
Note 4: In a 'confined' aquifer (as reported herein), porosity is a proxy for specific yield.
Note 5: The resource estimation was completed and reported using a cutoff of 50 mg/L Li.
Note 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: Schematic cross section of the Leduc Formation at Boardwalk
LithiumBank previously sampled the 10-06 well in 2021 along with three other wells in the area that averaged 71.8 mg/L lithium across. The well was drilled in 2005 and produced crude oil before elevated brine levels lead to its suspension. The original operator drilled approximately 168 meters into the Leduc formation which is estimated to be over 200 meters thick in this area. LithiumBank plans to re-enter the well and drill through to the lower portions of the Leduc Formation.

“We are very excited to receive our permit from the AER to drill our first well at Boardwalk” comments LithiumBank CEO Rob Shewchuk. “We expect the results of this drilling to upgrade the confidence of our resource at Boardwalk as a competitive lithium resource in North America”.

LithiumBank is also pleased to announce that is has engaged McElhanney to provide engineering and regulatory expertise. McElhanney will provide guidance to LithiumBank with regard to further acquisition of wells where brine can be acquired and stored for future pilot tests.
Figure 3: Simplified cross section at Boardwalk
The current Boardwalk Resource Estimate of 395,000 t LCE Indicated at 71.6 mg/L Li and 5,734,000 t LCE Inferred at 68.0 mg/L Li is NI 43-101 compliant, dated effective February 22, 2024, entitled “Preliminary Economic Assessment (PEA) for LithiumBank Resources Boardwalk Lithium-Brine Project in West-Central Alberta, Canada”. The PEA was prepared by the following Qualified Persons: Roy Eccles, P. Geol. of APEX Geoscience Ltd., Kim Mohler, P. Eng. of GLJ Ltd., Gordon MacMillan, P. Geol. of Fluid Domains, Jim Touw, P. Geol. of HCL Ltd., Frederick Scott, P. Eng. of Scott Energy Inc., Egon Linton, P. Eng. of Hatch Ltd., Evan Jones, P. Eng. of Hatch Ltd., Stefan Hlouschko, P. Eng. of Hatch Ltd., and Lisa Park, AusIMM.

The indicated and inferred Boardwalk Leduc Formation lithium-brine resource estimations are presented as a total (or global value), and were estimated using the following relation in consideration of the Leduc Formation aquifer brine:

Lithium Resource = Total Brine Aquifer Volume X Average Porosity X Percentage of Brine in the Pore Space X Average Concentration of Lithium in the Brine.

The PEA disclosed in this news release is preliminary in nature as it includes a portion of Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized. 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 be converted into a mineral reserve. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

Qualified Person

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 (QP) for the purposes of National Instrument 43-101. Mr. Kevin Piepgrass consents and approves of the inclusion of the data in the form and context in which it appears.

About McElhanney

McElhanney was established in 1910 and is a renowned company supplying geomatics, engineering, regulatory expertise predominantly across Western Canada. McElhanney’s regulatory expertise has been lock-step with the evolution of brine hosted mineral regulations. Their expertise will help navigate the regulatory process for both brine hosted mineral well permits and the associated facilities in Alberta.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), is a publicly traded lithium company that is focused on acquiring district-scale landholdings with prospective lithium brine geology, efficiently de-risking the assets, and structuring mutually beneficial transactions with major project developers. The Company holds 2,130,470 acres of brown-field lithium brine licences, across 3 districts in Western Canada, including its two flagship projects, Boardwalk and Park Place as well as exclusive use of one of the largest DLE Pilot Plants in North America. The Company’s January 2024 PEA at Boardwalk proposes the largest LHM brine production in North America at 34,005 TPA (LHM).

Contact:
Rob Shewchuk CEO & Director
rob@lithiumbank.ca
(778) 987-9767

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the expectation that the acquisition of the 10-6 well will allow LithiumBank to access brine as required for Direct Lithium Extraction testing in its 10,000 litre/day pilot plant and confirm the continuity of the lithium brine reservoir; that the Company intends to deepen the well and test the lower Leduc intervals in the coming months; that LithiumBank plans to re-enter the well and drill through to the lower portions of the Leduc Formation; the expectation that the Leduc reef may produce 34,005 t LHM per year in the development scenario envisioned in the Company’s January 2024 PEA; the expectation that the results of the planned drilling will inform and upgrade the Company’s confidence in its resource at Boardwalk as a competitive lithium resource in North America; the expected services to be provided by McElhanney with regard to the further acquisition of wells where brine can be acquired and stored for future pilot tests; and the expectation that McElhanney’s expertise will help navigate the regulatory process for both brine hosted mineral well permits and the associated facilities in Alberta are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur.

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that management’s expectation regarding the impact of the acquisition of the well will prove to be accurate; that the Company will have the resources required to proceed with its drilling plans; that the Company’s exploration plans and the timing thereof will not change; that the production projections of the Leduc reef will be consistent with management’s expectations and the development scenario envisioned in the Company’s January 2024 PEA; that the results of the drilling program, if conducted, will inform and upgrade the Company’s confidence in its resource at Boardwalk as expected; that the engagement of McElhanney will proceed as anticipated and that the services provided by McElhanney will provide the benefits currently expected; that there will not be any changes in applicable laws that adversely impact the Company’s exploration plans; and that the Company will be able to obtain access to the service providers and equipment required to proceed with its explorations.

These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that the acquisition of the well will not provide LithiumBank with the access to brine as expected; the risk that the Company will not proceed with its plans to deepen the well and test the lower Leduc intervals in the coming months; that the Company will not proceed with its drilling plans as disclosed; increase in equipment costs; that the Leduc reef may fail to produce 34,005 t LHM per year as projected by the Company; failure to retain key personnel; failure to engage contractors required to complete the planned drilling program; increase and/or unanticipated costs; changes in regulations and laws impacting the Company’s exploration plans; that the drilling program at the well, if conducted, will not provide the anticipated results and will not inform and upgrade the Company’s confidence in its resource at Boardwalk as a competitive lithium resource in North America; the risk that governmental regulators will not be supportive of the Boardwalk project; the risk that the engagement with McElhanney will not proceed as expected or will be terminated early; and the risk that the services provided by McElhanney will not help navigate the regulatory process for both brine hosted mineral well permits and the associated facilities in Alberta.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

https://mailchi.mp/0dd4285068bf/lithiumbank-management-update-17643906?e=8f86590d89

LithiumBank Presents at the Energy Transition Metals Summit (April 30, 2024)



Weekly Chart

LithiumBank Resources Closes Oversubscribed Private Placement For Gross Proceeds of $3,500,000 With 27% Insider Participation; Receives Conditional Acceptance For the Intellectual Property License Agreement With G2l Greenview Resources
20 OCTOBER 2023
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OTCMKTS: LBNKF
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VISIT WEBSITE
LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (the “Company” or “LithiumBank”) is pleased to announce that it has closed its previously announced non-brokered private placement for gross proceeds of $3,506,500 through the sale of 3,506,500 units ("Units") at a price of $1.00 per Unit (the "Private Placement"). Each Unit is comprised of one common share of the Company (a "Share") and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase an additional Share at a price of $1.50 per Share for a period of 24 months from the date of issuance.

Paul Matysek, Executive Chairman of LithiumBank comments, “I am very pleased at the conviction and commitment of the Board and senior management to all fully participate in the financing. These proceeds together with over 6 million dollars designated for exploration will be instrumental in advancing Boardwalk and Park Place, our two district scale projects and expediting our upcoming pilot plant testing with G2L.”

All securities issued in connection with the Private Placement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The Private Placement is subject to final acceptance of the TSX Venture Exchange (the "TSXV").

The net proceeds of the Private Placement will be used for administration and working capital and to expedite further advancement of its portfolio of district scale direct brine lithium assets in Western Canada.

Multilateral Instrument 61-101

In addition, the following insiders of the Company participated for an aggregate of $970,000 as follows: Paul Matysek, Executive Chairman and Director purchased 150,000 units, Rob Shewchuk, CEO and Director purchased 100,000 units, Christopher Murray, a director of the Company, purchased 250,000 Units; Gianni Kovacevic, a director of the Company, purchased 250,000 Units; Ekaterina Zotova a director of the Company, purchased 150,000 Units; Steven Piepgrass a director of the Company, purchased 20,000 Units; Kevin Piepgrass, an officer of the Company, purchased 40,000 Units; and Ann Fehr an officer of the Company, purchased 10,000 Units; (collectively “Interested Parties”). Their participation accounted for over 27.66% of the proceeds from the Private Placement. The placement to the Interested Parties constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Notwithstanding the foregoing, the directors of the Company have determined that the Interested Parties’ participation in the Private Placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the Private Placement and the participation therein by related parties of the Company were not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons.

In connection with the Private Placement, the Company paid certain finders, including PI Financial Corp., Red Cloud Securities Inc. and Leede Jones Gable Inc. the following finders’ fees: (i) a cash commission in the aggregate amount of $41,640, being up to 6.0% of the gross proceeds raised under the Private Placement from investors introduced to the Company by such finders; and (ii) 40,290 non-transferable common share purchase warrants of the Company (“Finder Warrants”), being equal to 6.0% of the Units sold under the Private Placement from investors introduced to the Company by such finders. Each Finder Warrant is exercisable to acquire one unit of the Company (a “Finder Unit”) at a price of $1.00 per Finder Unit. Each Finder Unit is comprised of one Share and one-half (1/2) of one Warrant, with each Warrant entitling the holder thereof to purchase an additional Share at a price of $1.50 per Share for a period of 24 months from the date of issuance. The Finder Warrants issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue.

Conditional Acceptance for Intellectual Property License Agreement

The Company is also pleased to announce following update regarding the previously announced intellectual property license agreement dated September 8, 2023 (the “License Agreement”) with G2L Greenview Resources Inc. (“G2L”), a subsidiary of Go2Lithium Inc. The Company has received conditional acceptance from the TSXV for the License Agreement. The parties are continuing to work together to secure approval from the TSXV for the issuance of the first 4,000,000 Consideration Shares to G2L pursuant to the License Agreement. The License Agreement and the issuance of the Consideration Shares remain subject to final TSXV approval.

Under the Licensing Agreement, announced September 11, 2023, G2L shall grant to the Company a license in Alberta and Saskatchewan for a full suite of continuous ion exchange technologies in consideration for the issuance of up to 14,000,000 common shares in the capital of the Company dependent upon achieving certain milestones (the “Consideration Shares”).

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF), is a publicly traded North American lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada. The Company holds 2,480,196 acres of brown-field lithium brine permits, across 3 districts in Alberta and Saskatchewan. In May 2023, LithiumBank completed an initial robust preliminary economic assessment of its Boardwalk project that targets a 31,350 TPA operation with a pre-tax USD $2.7B NPV and a 21.6% IRR with the potential for a number of near-term enhancements.

For more information see the Company’s Boardwalk Lithium Brine Project Preliminary Economic Assessment Technical Report entitled “Preliminary Economic Assessment (PEA) for LithiumBank Resources Boardwalk Lithium-Brine Project in West- Central Alberta, Canada” effectively dated June 16, 2023 filed on SEDAR+ (www.sedarplus.ca) on June 23, 2023 and on the Company’s website (www.lithiumbank.ca).

A PEA is preliminary in nature as it includes a portion of inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

The PEA Technical Report was prepared by the following Qualified Persons; Roy Eccles, P. Geol. of APEX Geoscience Ltd., Kim Mohler, P. Eng., of GLJ Ltd., Gordon MacMillan, P. Geol. of Fluid Domains, Jim Touw, P. Geol. of HCL Ltd., Frederick Scott, P. Eng., of Scott Energy, Egon Linton, P. Eng., of Hatch Ltd., Evan Jones, P. Eng., of Hatch Ltd., Stefan Hlouschko, P. Eng., of Hatch Ltd.

The scientific and technical disclosure in this news release has been reviewed and approved by Mr. Kevin Piepgrass (Chief Operations Officer, LithiumBank Resources Corp.), who is a Member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA) and the Association of Professional Engineers and Geoscientists of the Province of British Columbia (APEGBC) and is a Qualified Person (QP) for the purposes of National Instrument 43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.

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 be converted into a mineral reserve. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. A preliminary economic assessment is preliminary in nature as it includes a portion of inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

About G2L Greenview Resources Inc.

Go2Lithium Inc., the parent company of G2L, was formed in early 2023 as a 50/50 joint venture with Computational Geosciences Inc (CGI), a subsidiary of the Robert Friedland-chaired Ivanhoe Electric Inc. and Clean TeQ Water. Please see Clean TeQ’s case studies for additional information on their suite of water treatment and metal extraction technologies.

Contact:
Rob Shewchuk
Co-Founder, CEO & Director
rob@lithiumbank.ca
(778) 987-9767

https://greenstocknews.com/news/otcmkts/lbnkf/lithiumbank-closes-oversubscribed-private-placement-for-gross-proceeds-of-3-500-000-with-27-insider-participation-receives-conditional-acceptance-for-the-intellectual-property-license-agreement-with-g2l-greenview-resources

Lithium Bank - High 1.40 - Up 10 pct

https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=ca%3Albnk&x=45&y=12&time=100&startdate=1%2F4%2F2023&enddate=9%2F29%2F2023&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9

LBNK MKT CAP = ?






Boy, this was pretty dumb....


Compare......oh darn I thought these charts were gonna line up exactly - Nevermind

Still watching...
following my lucky exit near the highs in order to meet a margin call at the time-

futr

Oh and thanks for keeping ticker Cdn !.........* Albeit unlike IXI

LBNK

10 on line on a Friday night is somewhat impressive


mkt cap 60m cdn

Oh and thanks for keeping ticker Cdn !.........* Albeit unlike IXI


;



https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=ca%3Aixi&x=0&y=0&time=100&startdate=2%2F4%2F2021&enddate=6%2F19%2F2023&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9

https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=CA%3Albnk&x=19&y=13&time=100&startdate=2%2F4%2F2020&enddate=5%2F19%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9

https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=CA%3Albnk&x=40&y=14&time=7&startdate=2%2F4%2F2020&enddate=5%2F19%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9





https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=ca%3Ameda&x=56&y=11&time=100&startdate=2%2F4%2F2020&enddate=5%2F19%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9

LithiumBank’s Park Place Hydrogeological Study Reports Largest Contiguous Lithium-Rich Brine Project by Volume in North America
CALGARY, Alberta, Feb. 27, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce the completion of the hydrogeological study at its 100% owned Park Place Lithium Brine Project (“PPLP”) located 180 km west of Edmonton, Alberta, and 50 km south of the Company’s other flagship brine project in the Boardwalk district. The hydrogeological study was completed by Matrix Solutions Inc. (“Matrix”) and is expected to be incorporated into an upcoming NI 43-101 Resource Estimate.
https://lithiumbank.ca/news/2023/ithiumanksarklaceydrogeologicaltudyeportsar20230227071501

Feb 2 2023 11:06:52 ET

Page 2 Link bottom of post.
The Company is working with a number of experienced Direct Lithium Extraction (“DLE”) technology
providers to enhance recovery, lower power consumption, and reduce project capex. This work and
subsequent reservoirsampling is expected to be incorporated into a Preliminary Economic Assessment on
the Boardwalk Project which the Company expect will be completed in Q1 2023, and a NI-43-101 inferred
resource assessment at Park Place. LithiumBank has also retained consultants that have successfully
permitted and attracted government financing for industrial projects in Alberta.
“LithiumBank’s ongoing transition from a lithium resource explorer to developer is a defining moment for
our young company of 3 years," commented Rob Shewchuk, CEO and director of LithiumBank. “I am proud
of my team’s success in acquiring a 4 million acre plus portfolio of prospective lithium brine assets and
evaluating their potential. We willsoon be completing a further resource estimate at Park Place and await
receipt of a PEA of Boardwalk. Shifting gears to become a development company with near term lithium
production potential, at multiple district scale projects, highlights our view that Alberta is a critical
centerpiece to North America’s lithium supply chain industry. We are looking forward to a catalyst rich
2023 across our entire lithium brine portfolio

Feb 2 2023 11:06:52 ET
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00053370

LithiumBank Appoints Paul Matysek as Executive Chairman
Calgary, Alberta. January 30th, 2023 – LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce the appointment of Mr. Paul Matysek as the Company's Executive Chairman.

Mr. Matysek's unique qualifications, experience and unprecedented string of successful transactions in the mining sector will create value for the Company as it now transitions from an exploration to development company of district scale direct brine lithium projects in North America. LithiumBank holds a dominant position of key brine reservoirs with a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is developing and de-risking several strategic projects in Alberta and Saskatchewan.

Mr. Matysek is a geoscientist by training, a successful alpha entrepreneur and consistent creator of shareholder value with over 40 years of experience in the mining industry. Since 2007, as either CEO or Executive Chairman, Mr. Matysek has sold six publicly listed mineral exploration and development companies, in aggregate worth over $2.5 billion. Of particular note, two of six sales were lithium brine assets that are advancing toward production.

Most recently in June 2021, as Chief Executive Officer, he sold Gold X Mining Corp. to Gran Colombia Gold Corp. for over $300 million in an all-share transaction. In March 2018, as Executive Chairman, he sold Lithium X Energy Corp. to Nextview New Energy Lion Hong Kong Limited for $265 million in cash. Earlier, in July 2016, Mr. Matysek, as President and CEO, sold Goldrock Mines Corp. to Fortuna Silver Mines Inc. He was also previously CEO of Lithium One Inc., which merged with Galaxy Resources Limited of Australia (now Allkem) to create a multi-billion-dollar integrated lithium company. He served as CEO of Potash One Inc., which was acquired by K+S AG for $434-million cash in a friendly takeover in 2011. Mr. Matysek was also the co-founder and CEO of Energy Metals Corp., a uranium company that grew from a market capitalization of $10 million in 2004 to approximately $1.8 billion when sold in 2007.
Mr. Matysek commented: "I am very pleased to join LithiumBank as its Executive Chairman. The location, scale, and clear development roadmap of the Company’s strategic development assets create a unique and timely opportunity to transform them into enhanced shareholder value, address lithium supply challenges and support local community development. I look forward to working with the talented board and management of the Company. I firmly believe that together we can unlock significant value by re-purposing key infrastructure, advancing permitting, and demonstrating economic direct lithium extraction technology at scale in North America.”

Mr. Rob Shewchuk stated: "LithiumBank is very excited that Paul has agreed to move from his position as a Director to the role of Executive Chairman of our Board. I view this as a testament to the enormity of the opportunity in front of us as well as the exceptional job done by our team to set the table for valuable next steps. I am confident that investors in LithiumBank will benefit greatly from Paul’s stewardship, energy, experience and expertise as we transition to the development of our extraordinary portfolio of district scale lithium opportunities towards near term production potential."
The Company is also pleased to announce that Ann Fehr, Founder of Fehr & Associates, was appointed as Chief Financial Officer effective January 27, 2023. Ann received her accounting designation in 1996 and founded Fehr & Associates in 2010. She has been consulting and preparing public company financial reports in the mining industry since 2007. As a consultant and senior manager, she has supported and coordinated numerous complex transactions. Most recently, Ms. Fehr, as a director of QuestEx Gold & Copper Ltd. in 2022, was part of the team that completed a transaction to sell the company. We are excited to add Ms. Fehr to the core management team as we transition LithiumBank’s projects from exploration to development stage. The new appointment follows the resignation of Andre Mbeng who resigned as Chief Financial Officer of the Company effective January 27, 2023.

Stock Options

The Board of Directors have approved the implementation of a new “fixed up to 20%” stock option plan (the “New Plan”) to replace its existing “rolling up to 10%” stock option plan (the “Current Plan”). Under the New Plan, the Company may issue up to an aggregate of 7,700,000 stock options to purchase common shares in the capital of the Company (each an “Option”).

The Company also announces the grant of a total of 3,250,000 Options to certain directors, officers, consultants and investor relations service providers of the Company pursuant to the New Plan. Subject to the policies of the TSX Venture Exchange (the “TSXV”) and the terms and conditions of the New Plan, the Options will have an exercise price equal to $1.10 and will expire 5 years from the date of grant.

The New Plan is subject to: (i) the approval of the TSXV; and (ii) the approval and ratification of shareholders of the Company, which approval will be sought at the Company’s next annual general meeting of shareholders (the “Meeting”). At the Meeting, the Company will also seek disinterested shareholder approval and ratification of the Options granted under the New Plan.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.6 million acres of mineral titles, 3.33M acres in Alberta and 336K acres in Saskatchewan. LithiumBank’s mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel to its work on a Preliminary Economic Assessment scoping study for the Boardwalk Lithium Brine Project located in west-central Alberta.

Contact:

Rob Shewchuk
CEO & Director
rob@lithiumbank.ca
(778) 987-9767

futr

Good work...looked for a board earlier when this ticker caught my attention.

Bought a small position several months ago...looking to add-

Latest Presentation

https://www.lithiumbank.ca/images/pdf/Presentation/2023/LBNK_010423.pdf

futr

Advancing Direct Brine Lithium Projects To Production

https://www.lithiumbank.ca/images/pdf/Presentation/2023/LBNK_010423.pdf

LithiumBank joins the Noble Capital - December 5th, 2022

Boardwalk Hydrogeological Results, PEA Timeline and the latest from Park Place

LithiumBank’s (TSX.V: LBNK), Co-Founder and Director, Gianni Kovacevic, and COO, Kevin Piepgrass, join Amvest Capital to share the latest corporate update from the company. Listen below to learn more about the lithium market, DLE and a full overview of our flagship Boardwalk project.

Learn more - https://www.lithiumbank.ca/