Lithium Ionic Announces Commencement of Trading on TSX Venture Exchange

Lithium Ionic Announces Commencement of

Trading on TSX Venture Exchange

TORONTO, ON, May 24, 2022 – Lithium Ionic Corp. (TSXV: LTH) (“Lithium Ionic ” or the

“Company”) is pleased to announce that the Company’s common shares will commence trading

on the TSX Venture Exchange (the “TSXV”) at the opening of market on Tuesday, May 24, 2022

under the symbol “LTH”.

Blake Hylands , Chief Executive Officer of Lithium Ionic , comments, “We are very excited to

commence trading on the TSX Venture Exchange. We look forward to presenting great results

in the coming weeks and months. Our Itinga Lithium project is well situated directly between the

CBL Lithium Mining operation to the northwest and Sigma Lithium’s project to the southe ast.

Trenching and diamond drilling has already commenced on the Itinga project, and our team has

already identified good grade l ithium mineralization in trenches. The initial trench exposed 8.8

meters grading 1.46% Li2O including 5.8 meters grading 1.82% Li2O.”

Itinga Lithium Project Update

Presently the Company is conducting geochemical surveys, geophysical surveys, trenching and

diamond drilling on the Itinga Project. The Company holds seven licences in the area. Area 1 is

located adjacent to the CBL lithium operation which has been in production since 1993 (Figure 1)

Assays have been received from the initial trench, located approximately 800 meters southeast

of the CBL Lithium mining operation. The trench exposed a zone extending 8.8 meters grading

1.46% Li2O including 5.8 meters grading 1.82% Li2O. See Figure 2 below.

Figure 1: Itinga Project Area 1 location map. Note the surface expression of the CBL mine

in the northeast corner of the map. The trench is located on the southwest end of the 1.3

km soil anomaly, marked by the red line.

Figure 2: Initial trenching results, Itinga Project. Drilling has commenced to delineate the

extent of the mineralization.

About Lithium Ionic Corp.

Lithium Ionic is a publicly-traded company which owns a 100% ownership interest in the Itinga

lithium project in Brazil (the “Itinga Project” or the “Project”).

The Itinga Project is located in Minas Gerais State (MG), Brazil. The Project comprises five

mineral licenses covering more than 1,300 hectares in the prolific Aracuai lithium prov ince. A

portion of the Project occurs immediately south of the CBL lithium mine and plant, Brazil’s only

lithium producer, and immediately north of the large Barreiro and Xuxa lithium deposits of Sigma

Lithium Corp.

The Project area has excellent infrastructure, including access to hydroelectrical grid power,

water, a commercial port, highways and communities. Lithium mineralization (spodumene,

lepidolite, petalite) occurs within a halo of pegmatite dikes and apophyse s that occur within the

rocks surrounding Neoproterozoic granitic intrusions. Mineralization within the mineralized

province and the distribution of the mineralized pegmatites is controlled by a complex and

crosscutting system of northeast and northwest or iented faults that were exploited by the dikes.

Mineralized structures have been identified in two areas within the Project and the remainder of

the Project area remains to be explored.

The technical information in this news release has been prepared by Carlos Costa, Vice President

Exploration of Lithium Ionic and David Gower, a director of Lithium Ionic, and both are “qualified

persons” as defined in NI 43-101.

For more information please contact:

Lithium Ionic Corp.

Blake Hylands, P.Geo.

Chief Executive Officer

Email: [email protected]

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 mineralization

and development of the Itinga Project and other mining p rojects and prospects thereof . 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 achievements, 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 cha nge 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 obligation to update

these forward-looking statements in the event that management’s beliefs, estimates or opinions,

or other factors, should change.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the

policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press

release.