Mr. Rob Shewchuk reports

LITHIUMBANK ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

LithiumBank Resources Corp. has arranged a non-brokered private placement of up to nine million units of the company at a price of 60 cents per offered unit for aggregate gross proceeds of up to $5.4-million.

Each offered unit will consist of one common share in the capital of the company and one non-transferable common share purchase warrant of the company. Each warrant will entitle the holder to purchase one share for a period of 24 months from the date of issue at an exercise price of 90 cents. The company anticipates closing the offering on Friday, Aug. 28.

The company intends to use the net proceeds of the offering toward completion of a feasibility study at its Boardwalk lithium brine project in northwestern Alberta and for general working capital purposes.

The offering is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including approval of the TSX Venture Exchange. The offered units will be subject to a four-month hold period from the closing date of the offering under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.

The company may pay finders' fees to eligible finders in connection with the offering, subject to compliance with applicable securities laws and TSX-V policies.

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 now working toward establishing commercial lithium production by leveraging existing brownfield infrastructure and a modular scale-up approach.

We seek Safe Harbor.