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LithiumBank Opens Calgary Pilot Plant, Advances Lithium Production

LithiumBank Opens Calgary Pilot Plant, Advances Future of Lithium Production in Alberta

**Calgary, Alberta**–July 10, 2024–LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) opens the doors of its Calgary pilot plant on schedule today. This milestone marks a major step in unlocking Alberta’s substantial lithium resources. The results from this pilot plant will contribute to the feasibility phase of LithiumBank’s development plans.

LithiumBank’s Advances Using DLE Technology

“Licensing of our pilot plant is a large step forward and a major milestone for our company,” said Paul Matysek, Executive Chairman of LithiumBank. “We believe the successful application of our DLE technology could jump-start a new resource industry in the province. We look forward to testing brines from our Boardwalk and Park Place properties.”

Lithium Demand and Alberta’s Resources

Lithium is commonly used in lithium-ion batteries, essential for electric vehicles. It is also used in products like greases and medication. As electric vehicle production advances, the demand for lithium rises. Canada has included lithium on its critical minerals list. Alberta has substantial lithium resources dissolved in formation waters found in oil and gas reservoirs.

Direct Lithium Extraction (DLE) Technology

LithiumBank uses DLE technology to extract lithium from brines that would otherwise be discarded. These brines will be collected from the Company’s Boardwalk, Park Place, and Saskatchewan projects and transported to the Calgary pilot plant. The plant is expected to process 10,000 litres per day of lithium-containing brines, making it one of the largest DLE pilot plants in North America.

Government Support and Project Goals

The Alberta provincial government supports this project. Alberta Energy Minister Brian Jean is participating in the pilot plant opening. He stated, “LithiumBank’s pilot plant is an important advancement for Alberta’s diverse energy and mineral landscape. We aim to lead in ethically produced energy and develop energy transition minerals. This project can help Alberta meet the growing demand for lithium and reduce emissions.”

Partnership with G2L Greenview Resources Ltd.

LithiumBank deploys exclusive licensed DLE technology from G2L Greenview Resources Ltd. This technology has environmental and economic benefits over traditional methods. The pilot project will focus on key performance indicators such as lithium recovery, selectivity, flow rate, and concentrate quality. The goal is to demonstrate commercial viability and scalability.

Go2Lithium’s Commitment

Livia Mahler, Go2Lithium CEO, said, “We are thrilled to partner in the grand opening of LithiumBank’s Calgary facility. The cDLE® pilot plant employs advanced lithium extraction technology. We expect it to set new industry standards in sustainability and efficiency. This project represents a milestone in our partnership with LithiumBank, aiming to advance lithium extraction processes while minimizing ecological impact.”

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) acquires district-scale landholdings with prospective lithium brine geology. The Company holds 2,130,470 acres of brown-field lithium brine licences across 3 districts in Western Canada, including flagship projects Boardwalk and Park Place. They also have exclusive use of one of the largest DLE Pilot Plants in North America.

Rob Shewchuk CEO & Director
(778) 987-9767

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