Mr. Rob Shewchuk reports

LITHIUMBANK RECEIVES FIRST TRANCHE OF FUNDING FROM EMISSIONS REDUCTION ALBERTA FOLLOWING COMPLETION OF MILESTONE 1 AT BOARDWALK

LithiumBank Resources Corp. has received $760,000 from Emissions Reduction Alberta (ERA) following the successful completion of Milestone 1 under the company's ERA funding agreement supporting the advancement of its 100-per-cent-owned Boardwalk lithium brine project in northwest Alberta.

The payment represents $894,093.94 in approved eligible expenditures for Milestone 1, less a 15-per-cent holdback of $134,114.09 retained by ERA in accordance with the funding agreement.

As previously announced, LithiumBank successfully completed the Milestone 1 program with the collection of approximately 150 cubic metres of brine from the company's 10-6 well at Boardwalk. The bulk brine sample was collected between March 21 and April 8, 2026, and is being used for long-cycle direct lithium extraction (DLE), polishing process optimization and conversion to battery-grade lithium carbonate. The program successfully gathered additional hydrogeological data and inserted a downhole pressure monitor into the 10-6 well to monitor pressure changes during future flow testing (see April 13, 2026, release for additional information).

The modified Milestone 1 program qualified for reimbursement of 50 per cent of eligible expenditures up to $1.6-million. The company's successful completion of Milestone 1 also allows the remaining ERA funding allocation to be directed toward Milestone 3, which involves the completion of a feasibility study/front-end engineering design (FEED) assessing a low-capital-expenditure, modular approach to lithium production at Boardwalk. Total ERA funding under the program remains $3.9-million.

"Completing Milestone 1 and receiving this reimbursement from Emissions Reduction Alberta is another important step in advancing Boardwalk toward commercial development," commented Rob Shewchuk, chief executive officer of LithiumBank. "The ERA funding has enabled LithiumBank to undertake critical reservoir characterization and bulk brine sampling while preserving our capital for the next stages of project advancement. We sincerely thank the province of Alberta and Emissions Reduction Alberta for its continued support of innovative Alberta-based resource development."

About LithiumBank Resources Corp.

LithiumBank Resources Corp. is a lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Kevin Piepgrass, PGeo, who is a qualified person for the purposes of National Instrument 43-101. Mr. Piepgrass consents and approves of the inclusion of the data in the form and context in which it appears. Mr. Piepgrass is the chief operating officer for LithiumBank and is non-independent.

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