LithiumBank Commences Hydrogeological Study and Renames Fox Creek to Park Place Lithium Brine Project

LithiumBank Resources Corp. ( TSX-V: LBNK ) ( OTCQX: LBNKF) (" LithiumBank " or the " Company ") is pleased to announce the commencement of a hydrogeological study at the Park Place Lithium Brine Project, formally known as Fox Creek, located in west-central Alberta, approximately 180 km east of Edmonton along the Trans-Canada Highway.

LithiumBank has engaged Matrix Solutions Inc. ("Matrix") to conduct a hydrogeological study of LithiumBank's Park Place mineral permit area (Figure 1). Geologically, the area is underlain by the prospective Leduc Carbonate Reef complex and Beaverhill Lake Group. Matrix will utilize pre-existing data to determine porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine. These estimates are expected to be used to complete a NI 43-101 Mineral Resource Estimate.

The Leduc Carbonate Reef complex (Woodbend Group) and the underlying Beaverhill Lake Group have historically been known to host the highest grades of lithium-in-brine in Alberta with samples that range from 76 mg/l to 130 mg/L lithium in Park Place Metallic and Industrial Mineral (MIM) permit area. These samples are considered historic and have not been verified by a Qualified Person (QP) under the latest NI 43-101 Standards of Disclosure and cannot be relied upon. Historical samples are mentioned as a reference only until such time they have been verified.

The Park Place Lithium Brine Project consists of 1,326,528 acres of contiguous MIM permits (Figure 1), which consists of 65 MIM permits and 10 MIM permit applications.

Rob Shewchuk, CEO states, "As we continue to advance our flagship Boardwalk Lithium project towards completion of a PEA, we are thrilled to demonstrate the significant lithium potential of our Park Place project, located 20km to the south of Boardwalk. This large land package took over 3 years for our team to put together capturing the vast majority of the Leduc reef structure in the area with potential to host a world-class lithium brine deposit. In the immediate future, the company is expected to conduct a thorough exploration program to define a 43-101 compliant inferred resource in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) targeted for Q2/23."

LithiumBank is currently working with several petro-operators in the permitted area to collect brine samples that will be used to verify historical results and conduct mineral processing test work with selected DLE technologies. Recent DLE test work at the Boardwalk Lithium Brine Project has provided a technical foundation and understanding of DLE processes that the company can now leverage for Park Place. Updates and results of the mineral processing and analysis will be released as they are received.

Location of historic lithium brine samples from LithiumBank's Park Place Lithium Brine Project

Figure 1: Location of historic lithium brine samples from LithiumBank's Park Place
Lithium Brine Project

The Park Place area was the focus of a study, authored by D.R. Eccles and H. Berhane, entitled "Geological Introduction to Lithium-Rich Formation Water with Emphasis on the Fox Creek Area of West-Central Alberta (NTS 83F and 83K)" ( https://ags.aer.ca/publication/ofr-2011-10 ). The report highlights significant lithium potential in three different formations, the Leduc (Woodbend), Nisku (Winterburn), and Swan Hills (Beaverhill Lake Group) and are supported by historical lithium brine samples that range from 76 mg/l to 130 mg/l lithium in these formations.

The scientific and technical disclosure in this news release has been reviewed and approved by Mr. Kevin Piepgrass (Chief Operations Officer, LithiumBank Resources Corp.), who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC) and is a Qualified Person (QP) for the purposes of NI 43 101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.

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 3.2 million acres of mineral titles, 2.82M acres in Alberta and 326K 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 of the Boardwalk Lithium Brine Project.

Contact:

Robert 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

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, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, that Matrix anticipates using data acquired from various oil and gas operators and that is publicly available porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine, the estimates are expected to be used to complete a NI 43-101 Mineral Resource Estimate and the Company is expected to conduct a thorough exploration program to define a 43-101 compliant resource estimate in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) by Q2/23 are forward-looking statements and contains forward-looking information. 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", "would" or "occur". 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 Matrix will use data acquired from various oil and gas operators and that is publicly available to determine porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine, the estimates will be used to complete a NI 43-101 Mineral Resource Estimate and the Company will conduct a thorough exploration program to define a 43-101 compliant resource estimate in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) by Q2/23. 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 Matrix will not use data acquired from various oil and gas operators and that is publicly available to determine porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine, the estimates will not be used to complete a NI 43-101 Mineral Resource Estimate and the Company will not conduct a thorough exploration program to define a 43-101 compliant inferred resource in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) by Q2/23 on the timeline as anticipated by management or at all. 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21e5124a-6024-408a-a0c6-7577f17792a3

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LITHIUMBANK ANNOUNCES $6 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT

/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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LithiumBank Commences Trading on the OTCQX Under the Symbol LBNKF

LithiumBank Resources Corp. ("LithiumBank or the "Company") (TSXV:LBNK) (OTCQX: LBNKF) is pleased to announce that the Company's common shares have commenced trading on the OTCQX® Best Market, an over-the-counter public market in the United States, under the ticker symbol LBNKF. LithiumBank will continue to trade on the TSX Venture Exchange ("TSXV") in Canada, as its primary listing under the symbol "LBNK".

"We are pleased to begin trading on the OTCQX Market, which we believe will increase our visibility and accessibility for current and potential investors in the United States as we continue to advance our exploration and development of our Lithium projects in Western Canada. We also look forward to seeing the results of our Preliminary Economic Assessment currently underway with Hatch Ltd. on our flagship Boardwalk Project at Sturgeon Lake, Alberta in the coming quarter," stated Rob Shewchuk, Director & CEO. "We believe that trading on OTCQX will also improve our market information, transparency, liquidity and ease of trading in the Company's securities, and will be a benefit to all of our shareholders as we present our corporate developments at Boardwalk and other projects in our portfolio of over 3.2 Million acres over the balance of 2022 and into 2023."

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LithiumBank Resources Corp. Virtually Closes the Market

Rob Shewchuk Chief Executive Officer, LithiumBank Resources Corp. ("LithiumBank") (TSXV: LBNK) and his team joined Monica Hamm Manager, Client Success, Toronto Stock Exchange, to celebrate the Company's new listing on TSX Venture Exchange and close the market.

LithiumBank Resources Corp. is an exploration and development company focused on direct brine lithium resources in Western Canada . The company plans to take advantage of Alberta's long history of fossil fuel production to create a local source of "green" lithium in North America .

SOURCE TSX Venture Exchange

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/April2022/29/c6922.html

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Altech Batteries Ltd CERENERGY Accredited Highest Possible Green Rating

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to advise that its CERENERGY(R) battery project has been formally assessed as the highest possible green rating category, "Dark Green", by the independent Centre of International Climate and Environmental Research (former CICERO), now owned by Standard and Poor's Global Ratings based in Oslo, Norway.

Highlights

- Highest possible green rating category of "Dark Green"

- S&P Global Ratings agency, Oslo, Norway

- CERENERGY(R) battery emissions (kgCO2/kWh) expected to be one-third of lithium-ion batteries

- Assessment on environmental benefits and risks - Shades of Green methodology

- Eligible projects can access Green Bond debt market

- One of the debt financing options for CERENERGY(R) project

Altech acknowledges this tremendous result and believes the accreditation is testament to Altech's CERENERGY(R) battery being one of, if not the greenest battery technology available today, with the lowest carbon footprint, lowest supply chain requirements and environmentally friendliest in relation to raw materials. This represents an outstanding achievement of the dedicated battery team at Altech and Fraunhofer IKTS and confirms the long-term, sustainable battery technology and business strategy of CERENERGY(R) being rated as "Corresponding to the long-term vision of a Low-Carbon Climate Resilient future" by S&P Global Ratings.

Overall Shades of Green Assessment

Based on the project category shades of green detailed below, and consideration of environmental ambitions reflected in Altech Batteries GmbH's Green Bond Framework, S&P assessed the framework as Dark Green. Eligible projects under the issuer's green bond framework are assessed based on their environmental benefits and risks, using Shades of Green methodology.

S&P assessed the project category as Dark Green, primarily reflecting the importance of battery storage in the transition of the power and industrial sectors, the contribution to the development of alternatives to lithium-ion and cobalt-free batteries, and the CERENERGY(R) battery's comparatively low expected emissions and fossil-free direct production process.

The CERENERGY(R) battery is a solid state, sodium chloride battery. While lithium-based batteries are expected to continue as the dominant battery technology going forward, sodium-based batteries are anticipated to play an increasing role, particularly in the stationary storage market. In the IEA's STEPS scenario, for example, sodium-based batteries account for around 10% of annual capacity additions by 2030. Shifts to sodium-based batteries are expected because they require no critical mineral/metal inputs such as lithium, graphite, copper or cobalt. The primary materials in the CERENERGY(R) battery are sodium, alumina, and (recycled) nickel derivatives. Nonetheless, solid state, sodium-based batteries remain an emerging technology, with less extensive academic literature into their environmental performance compared with lithium-based equivalents.

According to the framework, the CERENERGY(R) battery has expected emissions of around 14 kgCO2/kWh capacity (scope 1, 2, and 3). According to the framework, scope 1 and 2 emissions are 4.07 kgCO2/kWh capacity. According to the issuer, the capacity figure for scope 3 emissions of about 10 kgCO2/kWh derives from data provided by, and discussions with, large suppliers, transportation emissions, and conservative estimates for more minor suppliers. By way of comparison, a 2019 paper from by the IVL Swedish Environmental Research Institute found an estimated range of 61-106 kg CO2/kWh cradle-to-gate emissions for lithium-ion batteries (NMC chemistry) for vehicles, depending mainly on the electricity mix.

The entire CERENERGY(R) direct production process will be powered by renewable energy. Altech Batteries GmbH has entered a power purchase agreement for the direct provision of solar energy, complemented by on-site solar installations. The CERENERGY(R) battery uses raw materials that entail less environmental risks. The CERENERGY(R) battery is fully recoverable/recyclable. Recycling of the CERENERGY(R) battery will take place at the plant and is carried out via mechanical, rather than chemical, recycling methods, which typically entail lower emissions and energy use.

Altech Batteries GmbH foresees large demand from industry for the CERENERGY(R) battery. This could relate to the use of batteries in industrial micro grids, or to support systems in data centres, logistics centres, and hospitals. It also considers heavy industry, such as steel and chemicals as potential end users. The use of batteries in industry contributes to the transition if they support or facilitate decarbonisation and electrification efforts, rather than, for example, power-cost optimisation. The issuer furthermore foresees grid storage as a large use of the CERENERGY(R) battery, whether co-located with renewable assets or directly integrated into transmission networks. Such use of batteries is crucial for the integration of variable renewable energy sources (including for backup or peak load) and demand management, as well as for supporting grid reliability and stability, though can also be used for other purposes, for example purely for price arbitrage.

The issuer screened the CERENERGY(R) battery plant and supporting infrastructure (e.g. roads and power supply) for physical climate risks. Consideration of physical risk also extends to its supply chain, for example in its supplier risk assessments and consideration of potential disruption to supply chain logistics.

Managing Director Iggy Tan said that the positive project assessment, formally termed a "Second Party Opinion" (SPO), confirms that Altech's CERENERGY(R) project aligns to ICMA Green Bond Criteria and is of a type suitable for finance via green bonds. "The project can now be accessed by investors that participate in the green bond market, the size of which is approaching US$250 billion annually and a large portion of which is present in Europe. The CERENERGY(R) project's green shading score does not affect bond pricing, rather it provides a transparent mechanism by which green bond investors are able to categorise their investment in terms of climate risks and impacts. We are very proud of achieving this significant milestone" he said.

About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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SAGA Metals Completes Petrographic Analysis at Drill Ready Double Mer Uranium Project in Labrador, Canada

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the completion of an initial petrographic petrological analysis, confirming the presence of uraninite, a key uranium mineral, hosted within the pegmatites identified along the 18km trend; verified through uranium count radiometrics and surface sampling at the Double Mer Uranium project in Labrador, Canada.

Saga Metals flagship Double Mer Uranium Project – Labrador, Canada