Mr. Rob Shewchuk reports

LITHIUMBANK ANNOUNCES CLOSING OF UPSIZED PRIVATE PLACEMENT

LithiumBank Resources Corp., further to its news release dated Aug. 27, 2026, has upsized and closed its previously announced non-brokered private placement of units of the company at an issue price of 60 cents per offered unit. Due to strong investor demand, the offering was increased from nine million offered units to the issuance of 9,206,830 offered units for gross proceeds of $5,524,098.

Each offered unit consists of one common share in the capital of the company and one non-transferable common share purchase warrant of the company. Each warrant entitles 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 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.

In connection with the offering, the company: (i) paid to Ventum Financial Corp. and EMD Financial Inc. cash finders' fees of $43,938; and (ii) issued to 73,229 finders' warrants. Each finder's warrant is exercisable into one share for a period of 24 months from the date of issue at an exercise price of 60 cents.

The offering remains subject to final approval of the TSX Venture Exchange. All securities issued in connection with the offering are subject to a four-month hold period from the date of issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

In connection with the private placement, certain directors and officers of the company participated in the private placement by purchasing an aggregate of 363,000 offered units for $217,800 (representing approximately 3.9 per cent of the proceeds from the private placement). The insider subscriptions constituted a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Notwithstanding the foregoing, the directors of the company have determined that the interested parties' participation in the private placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report was not filed more than 21 days prior to closing of the private placement because the details of the private placement and the insider subscription therein had not been confirmed at that time.

About LithiumBank Resources Corp.

LithiumBank Resources 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 licenses across three districts in Alberta and Saskatchewan. The company has pilot tested multiple mature direct lithium extraction (DLE) 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.