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Lithium Ionic Files NI 43-101 Report for Bandeira Lithium Project

Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) has announced that it filed the independent NI 43-101 compliant technical report for its Bandeira Lithium Project in Minas Gerais State, Brazil. This report supports and validates the Feasibility Study results released on May 29, 2024.

The Technical Report confirms a robust project with strong economic viability. It details a 14-year mine life producing an average of 178,000tpa of spodumene concentrate with an after-tax NPV8 of US$1.3B and an IRR of 40%. Significant highlights include low operating costs of $444/t SC5.5 and a CAPEX of US$266 million.

Feasibility Study Highlights

The Feasibility Study supports a small footprint underground mine, an efficient processing circuit, and a safe, sustainable dry stack tailings facility.

Economic Viability

The project demonstrates strong economic feasibility with low operating costs and CAPEX, contributing to its high profitability.

Project Location and Comparison

The Bandeira Lithium Project is situated in a mining-friendly jurisdiction, alongside significant lithium projects such as CBL’s Cachoeira lithium mine and Sigma Lithium Corp.’s Grota do Cirilo project.

Stock Option Grant

Lithium Ionic has granted 1,110,000 incentive stock options to various directors, officers, and consultants of the Company. These options are exercisable at $0.90 per option for five years, subject to approval by the TSX Venture Exchange.

About Lithium Ionic Corp.

Lithium Ionic is a Canadian mining company exploring and developing lithium properties in Brazil. Its Itinga group, which hosts its flagship Bandeira Lithium Project, covers about 14,000 hectares in Minas Gerais state. This area is emerging as a significant hard-rock lithium district.

Qualified Persons

The Feasibility Study was prepared by independent experts from AtkinsRéalis, GE21, Planminas, and L&M. They have verified that this release accurately reflects the information in the respective sections of the Bandeira Technical Report.

Contributors to the Study

Key contributors include Carlos José Evangelista for Mineral Resource Estimate, Rubens Mendonça for underground mine studies, Tony Lipiec for mineral processing studies, Branca Horta for environmental studies, Porfírio Cabaleiro for tailings disposal systems, and João Augusto Hilario de Souza for the economic and financial model.

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