LithiumBank Appoints Paul Matysek as Executive Chairman

LithiumBank Appoints Paul Matysek as Executive Chairman

LithiumBank Resources Corp. ( TSX-V: LBNK ) ( OTCQX: LBNKF) (" LithiumBank " or the " Company ") is pleased to announce the appointment of Mr. Paul Matysek as the Company's Executive Chairman.

Mr. Matysek's unique qualifications, experience and unprecedented string of successful transactions in the mining sector will create value for the Company as it now transitions from an exploration to development company of district scale direct brine lithium projects in North America. LithiumBank holds a dominant position of key brine reservoirs with a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is developing and de-risking several strategic projects in Alberta and Saskatchewan.

Mr. Matysek is a geoscientist by training, a successful alpha entrepreneur and consistent creator of shareholder value with over 40 years of experience in the mining industry. Since 2007, as either CEO or Executive Chairman, Mr. Matysek has sold six publicly listed mineral exploration and development companies, in aggregate worth over $2.5 billion. Of particular note, two of six sales were lithium brine assets that are advancing toward production.

Most recently in June 2021, as Chief Executive Officer, he sold Gold X Mining Corp. to Gran Colombia Gold Corp. for over $300 million in an all-share transaction. In March 2018, as Executive Chairman, he sold Lithium X Energy Corp. to Nextview New Energy Lion Hong Kong Limited for $265 million in cash. Earlier, in July 2016, Mr. Matysek, as President and CEO, sold Goldrock Mines Corp. to Fortuna Silver Mines Inc. He was also previously CEO of Lithium One Inc., which merged with Galaxy Resources Limited of Australia (now Allkem) to create a multi-billion-dollar integrated lithium company. He served as CEO of Potash One Inc., which was acquired by K+S AG for $434-million cash in a friendly takeover in 2011. Mr. Matysek was also the co-founder and CEO of Energy Metals Corp., a uranium company that grew from a market capitalization of $10 million in 2004 to approximately $1.8 billion when sold in 2007.

Mr. Matysek commented: "I am very pleased to join LithiumBank as its Executive Chairman. The location, scale, and clear development roadmap of the Company's strategic development assets create a unique and timely opportunity to transform them into enhanced shareholder value, address lithium supply challenges and support local community development. I look forward to working with the talented board and management of the Company. I firmly believe that together we can unlock significant value by re-purposing key infrastructure, advancing permitting, and demonstrating economic direct lithium extraction technology at scale in North America."

Mr. Rob Shewchuk stated: "LithiumBank is very excited that Paul has agreed to move from his position as a Director to the role of Executive Chairman of our Board. I view this as a testament to the enormity of the opportunity in front of us as well as the exceptional job done by our team to set the table for valuable next steps. I am confident that investors in LithiumBank will benefit greatly from Paul's stewardship, energy, experience and expertise as we transition to the development of our extraordinary portfolio of district scale lithium opportunities towards near term production potential."

The Company is also pleased to announce that Ann Fehr, Founder of Fehr & Associates, was appointed as Chief Financial Officer effective January 27, 2023. Ann received her accounting designation in 1996 and founded Fehr & Associates in 2010. She has been consulting and preparing public company financial reports in the mining industry since 2007. As a consultant and senior manager, she has supported and coordinated numerous complex transactions. Most recently, Ms. Fehr, as a director of QuestEx Gold & Copper Ltd. in 2022, was part of the team that completed a transaction to sell the company. We are excited to add Ms. Fehr to the core management team as we transition LithiumBank's projects from exploration to development stage. The new appointment follows the resignation of Andre Mbeng who resigned as Chief Financial Officer of the Company effective January 27, 2023.

Stock Options

The Board of Directors have approved the implementation of a new "fixed up to 20%" stock option plan (the " New Plan ") to replace its existing "rolling up to 10%" stock option plan (the " Current Plan "). Under the New Plan, the Company may issue up to an aggregate of 7,700,000 stock options to purchase common shares in the capital of the Company (each an " Option ").

The Company also announces the grant of a total of 3,250,000 Options to certain directors, officers, consultants and investor relations service providers of the Company pursuant to the New Plan. Subject to the policies of the TSX Venture Exchange (the " TSXV ") and the terms and conditions of the New Plan, the Options will have an exercise price equal to $1.10 and will expire 5 years from the date of grant.

The New Plan is subject to: (i) the approval of the TSXV; and (ii) the approval and ratification of shareholders of the Company, which approval will be sought at the Company's next annual general meeting of shareholders (the " Meeting "). At the Meeting, the Company will also seek disinterested shareholder approval and ratification of the Options granted under the New Plan.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.6 million acres of mineral titles, 3.33M acres in Alberta and 336K acres in Saskatchewan. LithiumBank's mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel to its work on a Preliminary Economic Assessment scoping study for the Boardwalk Lithium Brine Project located in west-central Alberta.

Contact:

Rob Shewchuk
CEO & Director
rob@lithiumbank.ca
(778) 987-9767

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Statements

Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" or occur. This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, analysis, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding: receipt of TSXV approval of the New Plan; the Company's intention to seek shareholder approval of the New Plan; the issuance of certain Options pursuant to the New Plan at the next Meeting; the Company's intention to complete a Preliminary Economic Assessment scoping study (" PEA ") on the Boardwalk property and the expecting timing thereof; the expectation that Boardwalk has the potential to be developed; that its portfolio of properties are favourable for future brine production; that the continued sampling and study of exploration stage properties will lead to a NI 43-101 Resource Estimate; historical production logs and reports will reduce the timeline to complete geological and hydrogeological studies; and the Company's expected ability to leverage existing infrastructure to advance its project are forward-looking statements and contain forward-looking information.

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that: the Company will be successful in obtaining TSXV approval of the New Plan; the Company will be successful in obtaining requisite shareholder approvals for the New Plan and the Options issued pursuant to the New Plan at the next Meeting; the Leduc Formation and the Swan Hills Formation will be favourable for brine production and that the continued sampling and study of both Formations will lead to a NI 43-101 Resource Estimate; the Company will be able to use historical production logs and reports to significantly reduce the timelines required to complete detailed geological and hydrogeological studies; the Company will be able to leverage existing infrastructure to rapidly advance the project; and that further sampling at Park Place will continue to confirm high lithium grades relative to elsewhere in Alberta.

These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that: the Company is not to obtain the requisite shareholder approval for the New Plan and/or the Options issued pursuant to the New Plan at the Meeting and/or that the Company does not obtain TSXV approval of the New Plan; the Company is not able to attract and retain skilled staff; the Company is not able to complete a PEA as anticipated or at all, or that the results of the PEA will not be as expected by management; the Company is not able to use historical production logs and reports and/or leverage existing infrastructure to advance the project more rapidly, and that further sampling at the exploration properties will not have the results expected by management. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws .


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/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES /

LithiumBank Resources Corp. (TSXV: LBNK) (the " Company " or " LithiumBank ") is pleased to announce it has entered into an agreement with Echelon Capital Markets (" Echelon ") and, if applicable, on behalf of a syndicate of underwriters (collectively the " Underwriters ") in respect of a bought deal private placement of 3,158,000 units of the Company issued on a charity flow-through basis (the " FT Units ") at a price of $1.90 per FT Unit (the " FT Issue Price ") for gross proceeds of $6,000,200 (" Offering ").  Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act ( Canada ) (each, a " FT Share ") and three quarters of one common share purchase warrant of the Company (each whole common share purchase warrant, a " FT Warrant ") each to be issued as a "flow-through share" within the meaning of the Income Tax Act ( Canada ). Each FT Warrant will entitle the holder thereof to purchase one non flow-through Common Share (a " Warrant Share ") at an exercise price of $2.00 for a period of 36 months from the date of issuance thereof, subject to adjustment in certain events.

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SOURCE TSX Venture Exchange

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Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today published its 2024 Sustainability Report . Entitled Values-Led, Purpose-Driven the report provides an update on Albemarle's achievements in line with the company's sustainability goals.

"As a values-led organization, sustainability is foundational to how we choose to operate," said Albemarle Chairman and CEO Kent Masters . "The initiatives outlined in this report speak to our commitment to creating a more resilient world. We remain dedicated to minimizing our environmental footprint, creating responsible and reliable products for our customers, and engaging with our communities to foster positive outcomes."

Report Highlights

Reducing our carbon footprint

  • Due to efficiency improvements and increased procurement of renewable and carbon-free electricity, we remain on track to grow our Energy Storage business in a scope 1 and 2 carbon intensity-neutral manner. In addition, our Specialties and Ketjen segments also remain on track to meet their 2030 scope 1 and 2 carbon emissions targets on an absolute basis.
  • 24% of our total electricity consumed was generated from renewable sources, an increase from 16% the previous year.
  • Initiated a decarbonization roadmap to assess enterprise hot spots and identify intervention approaches including electrification and renewable/carbon-free electricity, process changes and efficiency improvements, fuel substitutions and end-of-pipe solutions.

Practicing responsible freshwater management

  • Our operations in Chile and Jordan are on track to meet our 2030 freshwater intensity target.
  • In Chile , we achieved an additional 28% reduction in freshwater intensity by further optimizing the efficiency of our La Negra facility and completing the first year of continuous operation for our Salar Yield Improvement Project.
  • At our Jordan Bromine Company (JBC) joint venture, we achieved the mechanical completion of NEBO, a process upgrade that is expected to bring the facility's freshwater intensity in line with 2030 targets.

Supporting our customers' sustainability goals

  • We expanded the development of externally verified Product Carbon Footprints to include more bromine and lithium products from locations in the U.S., Jordan and China .

Promoting the resilience of our communities

  • A human rights assessment was conducted at our Salar de Atacama site in Chile to confirm our standards and tools align with global best practices to protect the rights of our employees, suppliers and communities.

To read Albemarle's 2024 Sustainability Report, visit the company's website at www.albemarle.com .
The report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).

About Albemarle  
Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

FORWARD-LOOKING STATEMENTS

The 2024 Sustainability Report and our sustainability webpage contain statements relating to Albemarle's operations, growth strategies and sustainability plans that are based on our current expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "design," "target," "project," "commit," "aim," "intend," "may," "outlook," "scenario," "should," "would," and "will." Forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Albemarle undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Standards of measurement and performance made in reference to our environmental, social, governance and other sustainability plans and goals may be based on protocols, processes and assumptions that continue to evolve and are subject to change in the future, including due to the impact of future regulations. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; fluctuations in lithium market prices; production volume shortfalls; increased competition; changes in product demand; availability and cost of raw materials and energy; technological change and development; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website at www.sec.gov .

Media Contact:  
Peter Smolowitz, +1 (980) 308-6310, media@albemarle.com

Investor Relations Contact:  
+1 (980) 299-5700, invest@albemarle.com

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

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SOURCE Albemarle Corporation

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