Lithium Ionic Awarded Water Rights for Bandeira Lithium Project, Minas Gerais, Brazil
Lithium Ionic Awarded Water Rights for Bandeira Lithium Project, Minas Gerais,
Brazil
TORONTO, ON, May 2, 2024 - Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N)
(“Lithium Ionic” or the “Company”), is pleased to report that it has received approval to draw water
(“Water Rights”) from the local Piauí River for its 100% -owned Bandeira Lithium Project
(“Bandeira”) in Minas Gerais, Brazil.
The approval granting the right to use local water resources was granted on April 25, 2024, by
the Minas Gerais Institute of Water Management (“Instituto Mineiro de Gestão das Águas ” or
“IGAM”), which authorizes a flow rate of 101.6 m³/hour , meeting the typical maximum
consumption needs of the future Bandeira lithium operation.
Blake Hylands, P.Geo., CEO of Lithium Ionic, comm ented, “This approval marks another
significant step towards our goal of becoming a near-term lithium producer. Securing water rights
for the Bandeira Project is an important permitting milestone which underscores not only the
excellent work by our team but also the value of operating in one of the top mining jurisdictions in
the world.”
On April 12, 2024, the Company reported an updated NI 43 -101 compliant mineral resource
estimate (“MRE”) for Bandeira of 23.68 million tonnes (“Mt”) at an average grade of 1.34% Li₂O,
with an additional 18.25Mt of Inferred MRE grading 1.37% Li ₂O, for a total of 41.93Mt. Bandeira
represents approximately 70% of the Company’s total global mineral resources of 60.1Mt*
A Feasibility Study for Bandeira is expected for completion this month. Furthermore, the Company
expects an approval for the Concomitant Environmental and Installation License (“LAC”, or
Licença Ambiental Concomitante in Portuguese) in early Q3 2024 , which would provide
authorization to begin construction.
*See press release dated April 12, 2024 for details related to the Bandeira mineral resource estimate (effective date
of January 10, 2024; QP: Carlos Silva, MAIG#7868); press release dated April 4, 2024, for details related to the
Salinas MRE (effective date of January 4, 2024; QP: Leonardo Soares, P.Geo., M.Sc., of GE21), and the NI 43-101
compliant technical reports related to the Outro Lado deposit titled “Mineral Resource Estimate for Lithium Ionic,
Itinga Project” (effective date of June 24, 2023; authored by Maxime Dupéré, B. Sc., P.Geo. and Faisal Sayeed, B.
Sc., P.Geo).
On behalf of the Board of Directors of Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its flagship Itinga and Salinas projects are located in the northeastern part of Minas Gerais
state, a mining -friendly jurisdiction that is quickly emerging as a world -class hard-rock lithium
district. The Itinga 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 scientific and technical information in this news release has been reviewed and approved by
Carlos Costa, Vice President Exploration of Lithium Ionic and Blake Hylands, CEO and director
of Lithium Ionic, and both are “qualified persons” as defined in NI 43-101.
Investor and Media Inquiries:
+1 647.316.2500
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 developments to differ
materially from the anticipated results, performance or ac hievements 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 terminology
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 including Bandeira, the Company’s ability to produce a NI
43-101 compliant Feasibility study and the timing thereof, the Company’s ability to obtain the
requisite licences and permits, the economic viability of the Bandeira project, the Company’s
ability to obtain adequate financing, the mineralization and development of the Company’s mineral
properties, the Company’s exploration program and other mining projects and prospects thereof
and the Company’s future plans. Such statements and information reflect the current view of the
Company. Risks and uncertainties that may cause actu al 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, pe rformance 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 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 obligation to update these forward -looking statements in the event that
management’s beliefs, estimates or opinions, or other factors, should change.
Information and links in this press release relating to other mineral resource companies are from
their sources believed to be reliable, but that have not been independently verified by the
Company.
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.