LITHIUM IONIC CORP - LTHCF STOCK NEWS

Lithium Ionic has initiated a 4,000-meter drilling program at four properties near its Bandeira Lithium Project in the Lithium Valley, Minas Gerais, Brazil. This effort will test lithium soil anomalies identified through previous exploration.

Additionally, the company has expanded its Salinas drilling program to 30,000 meters to upgrade its initial mineral resource estimate. The Salinas project, located in the Araçuaí Pegmatite District, had an initial estimate of 5.86Mt at 1.09% Li2O in Measured and Indicated categories, and 8.90Mt at 0.97% Li2O in the Inferred category, based on 27,030 meters drilled. A Preliminary Economic Assessment for Salinas is underway.

CEO Blake Hylands emphasized the rapid development and promising potential of these projects, reflecting the company’s capability to efficiently execute its exploration strategy.

Lithium Ionic has announced an option agreement allowing its subsidiary, Neolit Minerals, to acquire up to a 90% interest in select properties in Brazil's Lithium Valley, Minas Gerais. The properties total 2,983.22 hectares and are within the lithium-rich Araçuaí Pegmatite District. Neolit must invest approximately C$5.5 million by Q1 2030 and deliver a feasibility study to achieve the 90% stake. This acquisition is part of Lithium Ionic's strategy to expand its footprint in promising lithium districts. The company plans extensive exploration to delineate resources and engage local communities for sustainable development.

Lithium Ionic has finalized the acquisition of the remaining 15% interest in its Salinas properties in Minas Gerais, Brazil, thereby gaining full ownership.

The transaction involved a cash payment equivalent to USD 2 million and the issuance of 2.5 million shares of Lithium Ionic. An additional payment of USD 1 million is due by April 4, 2025.

A Preliminary Economic Assessment is underway by GE21 Consultoria Mineral Ltda and is expected in the second half of 2024. This arm's-length transaction involved no finder’s fees.

Lithium Ionic Corp. has signed an agreement to acquire the remaining 15% of the Salinas properties in Minas Gerais, Brazil, securing 100% ownership. The transaction involves a cash payment of US$2 million by June 7, 2024, an additional US$1 million by April 4, 2025, and the issuance of 2.5 million shares by June 18, 2024. These properties, located within the lithium-rich Araçuaí Pegmatite District, contribute 14.76Mt to the company’s total Global Mineral Resource Estimate of 60.1Mt. A Preliminary Economic Assessment is expected in the second half of 2024.

Lithium Ionic has signed a binding term sheet with Appian Capital Advisory to sell a 2.25% gross revenue royalty on its Bandeira Deposit for $20 million.

The funds will be used to advance and construct the Bandeira Lithium Project, located in Brazil's Lithium Valley. The project is estimated to support a 14-year mining operation, producing 178,000 tons of high-quality spodumene concentrate annually. A May 29, 2024 feasibility study reported a post-tax NPV8 of $1.3 billion and an IRR of 40% for the project.

The royalty agreement includes an option for Lithium Ionic to buy back the royalty within five years for $67.5 million, subject to customary closing conditions.

Lithium Ionic has released the Feasibility Study results for their Bandeira Lithium Project in Minas Gerais, Brazil. The project is set to produce 178,000 tonnes per annum (tpa) of spodumene concentrate with a 14-year mine life. The study reveals strong project economics, with an after-tax NPV8 of $1.3 billion and an IRR of 40%. Operating costs are forecasted at $444 per tonne. Capital expenditure is estimated at $266 million, with a payback period of 3.4 years.

The project will feature underground mining and responsible tailings management, minimizing environmental impact. Estimated local economic contributions include $915 million in taxes and a peak workforce of 870. Construction permits are on track, with approvals expected by Q3 2024. The study confirms the company's path to becoming a near-term lithium producer, with opportunities for further optimization and regional growth.

Lithium Ionic has filed an NI 43-101 compliant technical report for its Bandeira Lithium Project in Minas Gerais, Brazil. The report, prepared by GE21 Consultoria Mineral, details an updated Mineral Resource Estimate (MRE) as of March 5, 2024. The MRE includes Measured and Indicated resources of 23.68 million tonnes (Mt) at 1.34% Li2O, and Inferred resources of 18.25Mt at 1.37% Li2O. This accounts for 70% of the company's total mineral resources of 60.1Mt in Brazil's Lithium Valley. The company is finalizing a Feasibility Study and expects to receive environmental and installation license approval in early Q3 2024, enabling construction to begin.

Lithium Ionic has filed a NI 43-101 compliant technical report for its Salinas Lithium Project in Minas Gerais, Brazil. The report includes an initial Mineral Resource Estimate (MRE) with 5.86 million tonnes (Mt) at 1.09% Li2O in Measured and Indicated resources, and 8.90Mt at 0.97% Li2O in Inferred resources. This increases the company's global mineral resources to 60.1Mt. The report, prepared by GE21 Consultoria Mineral, has an effective date of January 4, 2024, and is available on SEDAR+ and the company’s website. Lithium Ionic is conducting a Preliminary Economic Assessment, expected by late 2024, alongside ongoing exploration and drilling to expand the resources further. An upgraded MRE for Salinas is also anticipated later this year.

Lithium Ionic Corp. has been awarded water rights for its Bandeira Lithium Project in Brazil, marking a significant step towards becoming a lithium producer. The approval grants the right to draw water from the local river at a flow rate of 101.6 m³/hour. The company recently reported a substantial mineral resource estimate for Bandeira, representing 70% of its global resources. A Feasibility Study is expected to be completed soon, with construction authorization anticipated in early Q3 2024.