Lithiumbank Increases Lithium-Brine Land Position BY over 530,000 Acres IN Alberta and Saskatchewan
September 13, 2022
LITHIUMBANK INCREASES LITHIUM-BRINE LAND POSITION BY
OVER 530,000 ACRES IN ALBERTA AND SASKATCHEWAN
Calgary, Alberta. September 13, 2022 – LithiumBank Resources Corp. (TSX-V: LBNK)
(OTCQX:LBNKF) (“LithiumBank” or the “Company”) is pleased to provide an update on its
lithium-brine land holdings in Alberta and Saskatchewan.
LithiumBank has increased its land position over the past month by over 530,000 acres with a
strategic focus on Fox Creek, Leduc reef area (Figure 1). Additional Metallic and Industrial Mineral
(MIM) Permits were acquired directly from the government of Alberta. The total MIM permits
(Alberta), and Mineral leases (Saskatchewan) currently held by LithiumBank are 3.77 million
acres, or 1.52 million hectares as shown in Table 1 and Figure 1. The additional permits give
LithiumBank a dominant land position in the Fox Creek area, for a total of 1,361,007 contiguous
acres.
The Fox Creek land acquisition is strategic for LithiumBank as the Leduc Carbonate Reef Complex
(Woodbend Group) and the underlying Swan Hills Carbonate Complex (Beaverhill Lake Group)
have historically been known to host the highest grades of lithium-in-brine concentrations in
Alberta. Historical samples collected by multiple petro-operators and donated to the Alberta
Geological Survey, range from 76 mg/l to 130 mg/L lithium (Figure 2) are located within
LithiumBank’s Fox Creek Metallic and Industrial Mineral 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 and thus the Company is not treating the
historical estimate as current mineral resources or mineral reserves. LithiumBank expects to
implement a systematic exploration and development program that is well established within
the Company from work completed on the Boardwalk Project, in the Sturgeon Lake area located
only 50 km to the north of the Fox Creek Property . LithiumBank will continue to make
announcements as news becomes available as Fox Creek is explored and developed in parallel to
the Boardwalk Project.
The Fox Creek 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 Nisku
(Winterburn), Leduc (Woodbend), 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 Company has also acquired a strategic land position in the Peace Arch area of northern
Alberta totalling 73,610 acres (Figure 1). The four MIM permits over a portion of the Leduc Reef
September 13, 2022
complex, have historically been one of the most prolific producers of hydrocarbons for several
decades. The permits cover a strike length of 30 km of the Leduc with abundant oil and gas
infrastructure. LithiumBank is currently evaluating the next steps for this property.
As previously disclosed, a total of 326,459 acres of Saskatchewan Brine Mineral Leases were
acquired by way of auction through the Saskatchewan government between August and
December of 2021. Acquisitions in Saskatchewan are in areas where there is known grades of
lithium in brine that are of interest. LithiumBank has engaged Matrix Solutions Inc. to conduct a
hydrogeological study on the Companies Brine Mineral Leases. Results of the study are expected
next quarter.
Rob Shewchuk, CEO states, “We are very proud to conclude our 3-year staking and acquisition
strategy in Western Canada with the goal to aggregate the largest land position in areas we
believe to have the most commercial potential for large scale lithium brine production. We have
successfully consolidated the Sturgeon Lake complex for our Boardwalk Project and obtained the
vast majority of the Mineral Permits in the prospective Fox Creek area. We have also acquired
mineral leases at auctions in Saskatchewan in 2021. LithiumBank is very excited to commence
next steps to evaluate our Fox Creek and Saskatchewan properties leveraging the strong technical
foundation gained from our work with Hatch, Apex and Matrix Solutions on our Boardwalk
Lithium Brine project that is expected to produce a PEA in Q4.”
Table 1. LithiumBank Mineral Permit and Lease Holdings
Project Area (ha) Area (ac) Parcels Prov Type
Boardwalk 231,576 572,237 30 AB MIM
Park Place 550,780 1,361,007 73 AB MIM
Valleyview 90,527 223,696 10 AB MIM
Simonette 6,686 16,522 1 AB MIM
Peace 29,789 73,610 4 AB MIM
Swan Hills 99,243 245,235 11 AB MIM
Kakwa 145,753 360,163 17 AB MIM
Nipisi 129,563 320,157 15 AB MIM
Valhalla 108,236 267,457 12 AB MIM
Alberta Total 1,392,152 3,440,083 173 AB
Kindersley 41,014 101,347 14 SK Lease
Estevan 36,779 90,883 11 SK Lease
South 54,321 134,229 8 SK Lease
Sask Total 132,113 326,459 33 SK
Total ALL 1,524,266 3,766,542 206 ALL
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Figure 1. Map of All LithiumBank' Mineral Permits and Leases
September 13, 2022
Figure 2. LithiumBank' Fox Creek MIM Permits with Historical Samples
September 13, 2022
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 3.7 million acres of mineral titles, 3.44M 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
(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, the expectation that the
Company will implement a systematic exploration and development program in the Sturgeon Lake area
located 50 km to the north of the Fox Creek Property is a forward-looking statement 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”, “believe”, “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 the Company will implement a systematic exploration and development program in the Sturgeon Lake
area located 50 km to the north of the Fox Creek Property. These forward-looking statements are subject
September 13, 2022
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 will not implement a systematic
exploration and development program in the Sturgeon Lake area located 50 km to the north of the Fox
Creek Property as expected 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 f orward-
looking statement, forward-looking information or financial out-look that are incorporated by reference
herein, except in accordance with applicable securities laws.