Lithium Ionic Files NI 43-101 Technical Report for the Bandeira Lithium Project Mineral Resource Estimate, Minas Gerais, Brazil
Lithium Ionic Files NI 43-101 Technical Report for the Bandeira Lithium Project
Mineral Resource Estimate, Minas Gerais, Brazil
TORONTO, ON, May 27, 2024 - Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N)
reports that it has filed the independent NI 43 -101 compliant technical report for its Bandeira
Lithium Project (“Bandeira” or the “Project”) in Minas Gerais State, Brazil, related to the updated
Mineral Resource Estimate (“MRE”) for the Project announced on April 12, 2024.
The Technical Report, titled “NI 43-101 Technical Report – Mineral Resource Update on Bandeira
Project, Araçuaí and Itinga, Minas Gerais State, Brazil ” was prepared by GE21 Consultoria
Mineral Ltda. (“GE21”) in accordance with National Instrument 43-101 Standards of Disclosure
for Mineral Projects ("NI 43-101") and has an effective date of March 5, 2024.
The technical report details the MRE comprising Measured and Indicated resources of 23. 68
million tonnes (“Mt”) at 1.34% Li2O, and Inferred resources of 18.25Mt at 1.37% Li2O, accounting
for approximately 70% of the Company’s total global mineral resources of 60.1Mt.* in Brazil’s
Lithium Valley.
The technical report is available on SEDAR+ (www.sedarplus.ca) under Lithium Ionic’s issuer
profile and on the Company’s website at www.lithiumionic.com.
The Company is currently finalizing a Feasibility Study for Bandeira and expects approval for its
Concomitant Environmental and Installation License (“LAC”, or Licença Ambiental Concomitante
in Portuguese) in early Q3 2024. The LAC approval provides the environmental and social license
together with authorization to begin construction.
* See NI 43- 101 compliant technical report related to the Bandeira Bandeira MRE titled “NI 43 -101 Technical Report – Mineral
Resource Update on Bandeira Project, Araçuaí and Itinga, Minas Gerais State, Brazil” (effective date of March 5, 2024; QP: Leonardo
Soares of GE21); See NI 43-101 compliant technical report related to the Salinas MRE titled “Independent Technical Report on Mineral
Resources Estimate” (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).
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
Leonardo Soares, P.Geo., M.Sc., of GE21 is a Qualified Person as defined by NI 43-101 and has
reviewed and approved the technical information and data regarding the MRE included in this
news release. Mr. Soares is independent of Lithium Ionic. All other scientific and 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, and both are “qualified
persons” as defined in NI 43-101.
On behalf of the Board of Directors of Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
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 that 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 informati on. The forward -looking
statements and information in this press release include information relating to the prospectivity
of the Company’s mineral properties including Salinas, the Company’s ability to produce a NI 43-
101 compliant Preliminary Economic Assessment and the timing thereof, the Company’s ability
to obtain the requisite licences and permits, 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 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 t his 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.
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