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LithiumBank Opens Calgary Pilot Plant to Advance Lithium Extraction

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) has opened its Calgary pilot plant on schedule, marking a milestone in the company’s effort to unlock Alberta’s significant lithium resources. This pilot plant testing will contribute to the feasibility phase of LithiumBank’s development plans as the company advances toward commercial production.

“Licensing of our pilot plant is a major step forward,” said Paul Matysek, Executive Chairman of LithiumBank. “We believe our DLE technology could be instrumental in jump-starting a new resource industry in the province. We look forward to testing brines from the large, inferred lithium resources at our Boardwalk and Park Place properties.”

Lithium is commonly used in lithium-ion batteries, which power electric vehicles, as well as in greases and medication. Given the rising demand for lithium due to the increase in electric vehicle production, Canada has included lithium on its critical minerals list.

Alberta has substantial lithium resources dissolved in formation waters found in oil and gas reservoirs. LithiumBank employs Direct Lithium Extraction (“DLE”) technology to extract lithium from brines that would otherwise be discarded. The brines will be collected from western Canadian oil wells at LithiumBank’s Boardwalk, Park Place, and Saskatchewan projects, and transported to the new Calgary pilot plant for processing. 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.

The Alberta provincial government supports the project. Alberta Energy Minister Brian Jean attended the pilot plant opening. “LithiumBank’s pilot plant is an advancement for Alberta’s diverse energy and mineral landscape,” said Minister Jean. “We are a global leader in ethically produced energy and aim to be at the forefront of developing energy transition minerals. Projects like this help Alberta meet the growing demand for lithium to decarbonize. This is another example of Alberta innovation producing global solutions to reduce emissions.”

LithiumBank is using exclusive licensed DLE technology from G2L Greenview Resources Ltd. (“G2L”). DLE technology offers environmental and economic benefits over traditional lithium extraction methods and produces a clean, lithium-rich concentrate suitable for further refining. The pilot project aims to attain key performance indicators, focusing on lithium recovery, selectivity, flow rate, and concentrate quality. This testing is expected to demonstrate the commercial viability and scalability of LithiumBank’s resource, process, and design.

The pilot program, which represents an approximate 1:5,000 scale to future commercial production modules, is intended to last up to 18 months.

Livia Mahler, Go2Lithium CEO, said, “We are thrilled to partner in the opening of LithiumBank’s Calgary facility. The cDLE® pilot plant employs advanced lithium extraction technology that we expect to set new standards in sustainability and efficiency. This project represents a milestone in our partnership with LithiumBank, aimed at advancing lithium extraction processes. The cDLE® technology underscores our commitment to environmental responsibility, minimizing ecological impact while maximizing resource utilization.”

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) is a publicly traded lithium company focused on acquiring district-scale landholdings with prospective lithium brine geology, efficiently de-risking the assets, and structuring mutually beneficial transactions with major project developers. The company holds 2,130,470 acres of brown-field lithium brine licenses across 3 districts in Western Canada, including its two flagship projects, Boardwalk and Park Place, in Alberta, as well as exclusive use of one of the largest DLE Pilot Plants in North America.

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