Mr. Rob Shewchuk reports

LITHIUMBANK ADVANCES BOARDWALK PERMITTING PATHWAY AS ENVIRONMENTAL FIELD SURVEYS BEGIN

Stantec Consulting Ltd. has completed the environmental desktop review for LithiumBank Resources Corp.'s Boardwalk lithium brine project and mobilized field teams to begin baseline environmental surveys. The program, covering groundwater, vegetation, wetlands, soils and wildlife form the evidentiary basis of the Environmental Protection and Enhancement Act application required to construct and operate Boardwalk and represents the company's next concrete step in the regulatory pathway toward a construction decision.

Boardwalk hosts an estimated 5.2 million tonnes measured and indicated and 2.8 million tonnes inferred lithium carbonate equivariant resource at an average lithium grade of 81.6 milligrams per litre (table 1), as set out in the technical report titled "LithiumBank Resources Corp. Boardwalk NI 43-101 Technical Report," with an effective date of Feb. 20, 2025 (filed on SEDAR+ on April 7, 2025). Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted to a mineral reserve.

A preliminary economic assessment of Boardwalk outlined a pretax net present value (8 per cent) of $3.7-billion (U.S.). The preliminary economic assessment is set out in the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for LithiumBank Resources Boardwalk Lithium-Brine Project in West-Central Alberta, Canada," effective Feb. 22, 2024, and filed under the company's profile on SEDAR+ on Feb. 29, 2024. The PEA is preliminary in nature and includes 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 PEA will be realized.

LithiumBank is advancing the project in parallel with SLB, which is conducting a feasibility study and front-end engineering design under a development agreement, which included binding licencing terms (announced Dec. 22, 2025), with a project execution target for late 2027 and a potential path to commercial production as early as late 2030.

Environmental baseline program

Stantec's desktop study reviewed publicly available spatial and environmental data sets to establish baseline conditions and identify data gaps across the project area. Field teams are conducting wetland identification and delineation in accordance with the Alberta wetland classification system, along with wildlife and protected species surveys, soil characterization to support future reclamation planning, and groundwater and surface water assessments.

The results will be incorporated into technical data reports supporting the EPEA application and the company's broader regulatory filings including a phase 1 environmental site assessment and Historical Resources Act application already under way with Stantec. Field surveys are expected to continue through late 2026, with results incorporated into technical baseline reports supporting an EPEA submission target for mid-2027. This work runs in parallel with the continuing SLB feasibility study and FEED, both expected to conclude in mid- to late 2027.

LithiumBank has sited the proposed Boardwalk CPF within the northeastern quarter of Section 34, Township 68, Range 22, W5M, in the municipal district of Greenview, approximately 15 kilometres south of Valleyview, Alta. The broader project is expected to comprise the CPF, production and injection wells, and underground pipelines for transporting produced and spent brine.

"Completing our environmental desktop study and putting field teams on the ground at Boardwalk moves us another step closer to filing our EPEA application and, ultimately, a construction decision," said Rob Shewchuk, chief executive officer and director of LithiumBank. "This baseline work is proceeding alongside the feasibility study and engineering design already under way with SLB. Together, they're two regulatory and technical tracks that need [to] converge before we can build one of the largest lithium brine projects in North America."

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 is the chief operating officer for LithiumBank and is non-independent.

About LithiumBank Resources Corp.

LithiumBank is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada. These projects host some of the largest lithium brine resources in North America. The company holds 1,240,140 acres of brownfield brine hosted mineral licences across three districts in Alberta and Saskatchewan. The company has pilot tested multiple mature direct lithium extraction technologies, and has signed a development agreement with SLB to bring the Boardwalk project into production. This agreement includes binding DLE licensing terms with SLB to provide an energy-efficient, cost-effective and commercially viable end-to-end lithium brine solution. The company is working toward establishing commercial lithium production by leveraging existing brownfield infrastructure and a modular scale-up approach.

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