LITHIUMBANK RES CORP - LBNKF STOCK NEWS

LithiumBank Resources Corp. (OTCQX: LBNKF) has signed a Memorandum of Understanding with Invest Alberta to advance a commercial lithium production facility at its Boardwalk brine project in Alberta. This collaboration aims to enhance domestic and international promotion of the project, create high-paying jobs, and bolster Alberta's clean energy sector. The Boardwalk project has an indicated resource of 393,000 tonnes of Lithium Carbonate Equivalent and the potential for scalable lithium extraction technology. The company plans to operationalize the facility by 2027 and hire 25 employees within 18 months.

LithiumBank Resources Corp. (TSX-V: LBNK, OTCQX: LBNKF) has engaged Brisco Capital Partners Corp. for marketing and investor relations services effective April 1, 2023. The engagement includes a monthly fee of $7,500 for a term of 12 months, with an option for early termination. Additionally, LithiumBank will issue 200,000 stock options at $1.29 per share, vesting over one year. Brisco, a Calgary-based firm, aims to enhance investor awareness and connect LithiumBank with potential investors. The Company focuses on lithium-enriched brine projects in Western Canada, utilizing low-carbon direct lithium extraction technology.

LithiumBank Resources Corp. (OTCQX: LBNKF) has engaged Matrix Solutions Inc. to conduct a lithium brine resource assessment of its South and Estevan projects in Saskatchewan. This assessment aims to support NI 43-101 resource estimates and guide future exploration efforts. The initial data compilation has commenced, with a report expected soon. LithiumBank, having acquired these properties in 2021, aims to leverage positive sampling results from nearby operators, which reported lithium-brine grades between 64 mg/l and 259 mg/l. The study will incorporate various geological data to evaluate the Duperow Formation, potentially unlocking significant shareholder value.

LithiumBank Resources Corp. (TSX-V: LBNK, OTCQX: LBNKF) has completed a hydrogeological study at its Park Place Lithium Brine Project, revealing it as the largest lithium-rich brine project in North America. The study, conducted by Matrix Solutions Inc., estimates a total of 76.3 km³ of lithium-bearing brine, with 49.8 km³ in the Leduc Formation and 26.5 km³ in the Swan Hills Formation. The average net porosity is 11%, and samples show 77.2 mg/L lithium. The results will contribute to an upcoming NI 43-101 Resource Estimate expected in Q2 2023.

LithiumBank Resources Corp. (LBNKF) provided an update on its Kindersley Lithium Project (LKLP) in Saskatchewan. The project spans 111,282 acres within the Duperow Formation, known for high lithium brine grades (70-190 mg/L). The company plans to complete a NI 43-101 Resource Estimate within 6 months, and aims for a Preliminary Economic Assessment (PEA) in H2 2023. Key highlights include a modelled brine volume of 3.89 million m³ at 6% porosity and up to 300 metres thickness of the reservoir. The project benefits from existing infrastructure and favorable land agreements, positioning LithiumBank for expedited development.

LithiumBank Resources Corp. (OTCQX: LBNKF) has provided a corporate update highlighting its achievements in 2022 and strategies for 2023. The company completed a major acquisition campaign covering over 4 million acres in Alberta and Saskatchewan, securing three key development districts. Notable accomplishments include establishing Canada's first indicated lithium brine resource at the Boardwalk Project and achieving lithium grades of up to 82.0 mg/L at the Park Place Project. In 2023, LithiumBank plans to develop these projects further by upgrading resource classifications and commissioning a brine processing pilot plant, with a Preliminary Economic Assessment expected by Q1 2023.

LithiumBank Resources Corp. has appointed Mr. Paul Matysek as Executive Chairman, transitioning the company from exploration to development of lithium projects in North America. With over 40 years of industry experience, Matysek has successfully led multiple companies to significant sales, including lithium brine assets. Ann Fehr has been appointed as Chief Financial Officer, effective January 27, 2023, following the resignation of Andre Mbeng. The company is also implementing a new stock option plan allowing for 7.7 million options, subject to shareholder and TSXV approval. This strategic leadership change aims to enhance shareholder value and expedite lithium production.

LithiumBank Resources Corp. (OTCQX: LBNKF) announced promising assay results from its Park Place Lithium Brine Project in Alberta, revealing lithium grades between 71.2 and 82.0 mg/L, with an average of 77.2 mg/L. The project spans over 1.6 million acres atop lithium-rich formations, historically known for high lithium concentrations. Utilizing existing infrastructure, LithiumBank aims to expedite geological studies and estimates a NI 43-101 Resource Estimate in the future. Independent Director Paul Matysek expressed optimism about the results, which align with historical data, suggesting higher lithium grades compared to other regions in Alberta.

LithiumBank Resources Corp. (TSX-V: LBNK, OTCQX: LBNKF) has filed a Technical Report for its Boardwalk Lithium Brine Project, dated December 20, 2022. This report includes NI 43-101 Mineral Resource Estimates of 393,000 tonnes of Indicated Lithium Carbonate Equivalent (LCE) at a grade of 71.6 mg/L and 5,808,000 tonnes of Inferred LCE at 68.0 mg/L lithium. The report is accessible on www.sedar.com. LithiumBank focuses on lithium brine projects in Western Canada, holding over 4 million acres of mineral titles for potential large-scale lithium production.