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

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

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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"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. 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

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

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Resolution Minerals Ltd  To Develop U.S. Government Engagement Strategy with Clewett Global Services

Resolution Minerals Ltd To Develop U.S. Government Engagement Strategy with Clewett Global Services

Adelaide, Australia (ABN Newswire) - Resolution Minerals Ltd (ASX:RML) (FRA:NC3) (OTCMKTS:RLMLF) is pleased to announce the selection of Clewett Global Services as external affairs advisers to support the development of the Horse Heaven Antimony-Gold-Silver-Tungsten project in Idaho, USA.

Highlights

- Engagement in Washington D.C. is a critical step in positioning RML as a trusted partner in the U.S. critical minerals supply chain

- Resolution to consider applying for U.S. Department of Defense (DOD) funding to expedite Horse Heaven Project in Idaho

- Neighbouring Perpetua Resources (PPTA.NAS) was fast-tracked for development in April 2025, and received up to US$74 million in DOD funding, highlighting strong U.S. Government commitment and support for antimony and other critical metal projects

- By aligning with U.S. Government strategic priorities, RML is actively enhancing its ability to progress Horse Heaven on a faster schedule

- Antimony, Silver, Gold and Tungsten trading at record-high prices

CLEWETT GLOBAL SERVICES APPOINTED TO WORK WITH RESOLUTION TO DEVELOP U.S. GOVERNMENT ENGAGEMENT STRATEGY

The Horse Heaven Project is located directly adjacent to NASDAQ-listed Perpetua Resources' $2 billion Stibnite Gold and Antimony Project, which recently gained final record of decision approval from the U.S. Forest Service.

Horse Heaven has strong gold, antimony and silver mineralisation in two highly prospective structurally controlled mineralised corridors, and includes past-producing antimony, tungsten and gold mines.

Historical exploration results from Horse Heaven are highly encouraging and indicate similar geological characteristics to the neighbouring Stibnite project.

Given the importance of antimony to the U.S. Government's critical minerals strategy, Resolution Minerals is excited to develop the Horse Heaven Project and will be actively seeking the support of the U.S. Government to expedite its progress.

Founding Partner of Clewett Global Services, Todd Clewett, is a seasoned external affairs executive with a track record of success in engaging decision makers in Washington D.C. regarding mining and critical minerals projects. Clewett formerly headed up the external affairs function for both Newmont Corporation and Fortescue.

Background

The U.S. government has prioritised domestic and allied sources of key minerals such as antimony, tungsten and gallium recognising their importance to defense applications and renewable technologies.

Until now, the U.S. has relied mainly on China for the supply of many critical metals. Following China's total ban on exports of these metals to the U.S. in late 2024, a priority of the new Administration is to shore up its own domestic supply chains of these materials.

Fast-41 Program

The FAST-41 program, established by Title 41 of the Fixing America's Surface Transportation Act (FAST Act), is a program designed to improve the timeliness, predictability, and transparency of the federal environmental review and permitting process.

FAST-41 is designed to streamline and expedite the permitting process for infrastructure and mining projects deemed nationally significant. FAST-41 can offer benefits to project developers, including increased predictability, transparency and faster decision-making.

Some projects currently covered under FAST-41 include:

- Perpetua Resources' (PPTA.NAS) Stibnite Gold Project in Idaho

- Stillwater Palladium & Platinum Project in Montana

- Jindalee Resources' (ASX:JLL) McDermitt Lithium Project in Oregon

- BPH and RIO's Resolution Copper Project in Arizona

- South32's (ASX:S32) Hermosa Critical Minerals Project in Arizona

Resolution Minerals' efforts to participate in the FAST-41 program follow the precedent set in April this year by next-door neighbour, NASDAQ-listed Perpetua Resources (PPTA.NAS), whose Stibnite Gold Project in Idaho became the first mining project accepted under FAST-41, and by ASX-listed Jindalee Lithium Limited (ASX:JLL), whose McDermitt Lithium Project in Oregon was also successfully fasttracked under FAST-41 in April.

2025 Budget Reconciliation Bill ('Big Beautiful Bill')

The proposed 2025 Budget Reconciliation Bill includes US$2.5 billion to support U.S. production of critical minerals via the National Defense Stockpile. In addition, there is US$500 million allocated to the Department of Defense Credit Program for loans, loan guarantees, and technical assistance aimed at developing reliable sources of critical minerals - both within the U.S. and among key international allies.

Congress is expected to pass this bill (in some form) by the end of July 2025. Resolution has commenced plans to pursue all its available options to apply for funding that may become available upon passing of this proposed bill.

Resolution is considering opportunities under the U.S. Department of Defense's Title III and Industrial Base Analysis and Sustainment (IBAS) programs, which support the development of reliable and resilient supply chains for critical minerals.

RML's Executive Director, Aharon Zaetz commented:

"We are extremely honoured for Todd Clewett to want to work with us. We feel very excited that he shares the enthusiasm for the Horse Heaven project and sees the massive potential here. Todd's experience in working with governments to develop mining projects will be an invaluable asset to RML.

Todd's experience, knowledge and network in the White House provides him with an extremely rare and unique skillset that RML shareholders are extremely privileged to benefit from.



About Resolution Minerals Ltd:  

Resolution Minerals Ltd (ASX:RML) is a mineral exploration company engaged in the acquisition, exploration and development of precious and battery metals - such as antimony, gold, copper, and uranium.

Resolution Minerals Ltd Listed on the ASX in 2017 and has a broad portfolio of assets, such as the Drake East Antimony-Gold Project in north-eastern NSW and George Project prospective for silica sand and uranium.



Source:
Resolution Minerals Ltd

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