Lithium Ionic Advances Environmental & Social Permitting Process with Submission of LAC License Application for the Construction and Development of the Bandeira Lithium Project, Minas Gerais, Brazil
Lithium Ionic Advances Environmental & Social Permitting Process with
Submission of LAC License Application for the Construction and Development of
the Bandeira Lithium Project, Minas Gerais, Brazil
TORONTO, ON, November 21, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE:
H3N) (“Lithium Ionic” or the “Company”), a lithium exploration and development company focused
on becoming Brazil’s next significant lithium producer, is pleased to report a major milestone with
the application of a Concomitant Environmental and Installation License (“LAC”, or Licença
Ambiental Concomitante in Portuguese ) submitted to the State of Minas Gerais for the
construction and development of its Bandeira lithium Project (“Bandeira”).
The Preliminary Economic Assessment (“PEA”) for Bandeira announced last month defined an
underground mining operation which provides a reduced environmental footprint relative to other
development options. This development approach qualifies the Bandeira project as a candidate
for the accelerated LAC license that would result in the environmental and social license, together
with an authorization to begin construction.
As part of the application, the Company submitted both an RCA (Environmental Control Report)
and PCA (Environmental Control Plan) which have been underway since March 2023 by local
environmental consultancy group, NEO Agroambiental Ltda., with assistance from Lithium Ionic’s
technical team.
All of the Company’s properties and projects, including Bandeira, have been recognized as
“priority projects” within the state of Minas Gerais government, which is expected to accelerate
the licensing review process for project construction and operations (see press release dated
July 19, 2023).
Blake Hylands, P.Geo., C EO of Lithium Ionic, commented, “ The submission of the LAC permit
application marks a major milestone on our development path towards becoming a near -term
producer of high -quality lithium concentrate. We are pleased that Minas Gerais state officials
recognize the importance of supporting the development of the battery materials sector in the
region and we are confident that having our project on their priority business development list will
result in our application being evaluated accordingly, without delay.”
The Bandeira project covers 175 hectares, or approximately 1% of its large 14,182-hectare land
package in the northern part of Minas Gerais State within a region recently coined “Lithium Valley”
by state officials, which is emerging as a globally significant producer of high -quality lithium
concentrate. Two lithium producers currently operate in the region, located between 800 metres
and 4 kilometres from the Bandeira project.
The Company is currently undertaking an independent NI 43 -101 compliant Feasibility Study
(“FS”), including an updated MRE, expected to be completed in early 2024. The FS follows a
Preliminary Economic Assessment (“PEA”) , which showcased a viable and highly economic
mining project. The PEA, which had a drill data cut -off of August 30, 2023 with respect to the
MRE, supported 20 -years of low-cost spodumene concentrate production with a post-tax Net
Present Value (“NPV”)8% of US$1.6 billion (~C$2.2 billion) and an Internal Rate of Return (“IRR”)
of 121% (see details of the PEA in the press release dated October 19, 2023).
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its Itinga and Salinas group of properties cover 14,182 hectares in the northeastern part of
Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world -class hard-
rock lithium district. Its Feasibility-stage Bandeira Project is situated in the same region as CBL’s
Cachoeira lithium mine, which has produced lithium for +30 years, as well as Sigma Lithium
Corp.’s Grota do Cirilo project, which hosts the largest hard-rock lithium deposit in the Americas.
Qualified Persons
The technical information in this news release has been prepared by Carlos Costa, Vice President
Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic, who are both
“qualified person s” as defined in NI 43 -101. Mr. Costa and Mr. Hylands have both read and
approved the content in this news release.
Investor and Media Inquiries:
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Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward -statements.” Such forward
looking statements involve known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, performance or achievements, or devel opments to differ
materially from the anticipated results, performance or achievements expressed or implied by
such forward-looking statements. Although the Company believes, in light of the experience of its
officers and directors, current conditions and expected future developments and other factors that
have been considered appropriate that the expectations reflected in this forward -looking
information are reasonable, undue reliance should not be placed on them because the Company
can give no assurance t hat they will prove to be correct. When used in this press release, the
words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or
“should” and the negative of these words or such variations thereon or comparable t erminology
are intended to identify forward -looking statements and information. The forward -looking
statements and information in this press release include information relating to the prospectivity
of the Company’s mineral properties, the economic viability of the Bandeira, the mineralization
and development of the Company’s mineral properties, the Company’s exploration program and
other mining projects and prospects thereof, the Company’s ability to complete a Feasibility Study,
the Company’s ability to complete an environmental impact assessment and obtain the requisite
permitting and approvals and the Company’s future plans . Such statements and information
reflect the current view of the Company. Risks and uncertainties that may cause actual results to
differ materially from those contemplated in those forward-looking statements and information. By
their nature, forward -looking statements involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or ac hievements, or other future
events, to be materially different from any future results, performance or achievements expressed
or implied by such forward-looking statements. The forward-looking information contained in this
news release represents the expectations of the Company as of the date of this news release
and, accordingly, is subject to change after such date. Readers should not place undue
importance on forward -looking information and should not rely upon this information as of any
other date. The Company undertakes no obliga tion to update these forward -looking statements
in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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Company.
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