Lithium Ionic Files NI 43-101 Technical Report for the Bandeira Lithium Project Feasibility Study
Lithium Ionic Files NI 43-101 Technical Report for the Bandeira Lithium Project
Feasibility Study
TORONTO, ON, July 11, 2024 - Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N)
reports that it has filed the independent NI 43 -101 compliant technical report (the “Technical
Report”) for its Bandeira Lithium Project (“Bandeira” or the “Project”) in Minas Gerais State, Brazil,
supporting and validating the Feasibility Study (“FS”) results press released on May 29, 2024.
The Technical Report details a feasibility study that supports a robust project with strong
economic viability, featuring a small footprint underground mine, an efficient and straightforward
processing circuit, and a safe, sustainable dry stack tailings facility. Highlights of the FS are as
follows:
▪ 14-year mine life producing an average of 178,000tpa of spodumene concentrate (5.5%
Li2O)
▪ After-tax NPV8 of US$1.3B; IRR of 40% (using a long-term price of US$2,277/t SC5.5)
▪ Industry-leading LOM operating costs of $444/t SC5.5
▪ Low CAPEX of US$266 million
The Technical Report, titled “Bandeira Lithium Project Araçuaí-Itinga; NI 43-101 Feasibility Study
Technical Report; Minas Gerais, Brazil” was prepared by Atkins Réalis, with support from GE21
Consultoria Mineral Ltda. (“GE21”), Planminas and L&M, in accordance with National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and has an effective date of
November 13, 2023.
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.
Stock Option Grant
Lithium Ionic has granted 1,110,000 incentive stock options to various directors, officers, and
consultants of the Company pursuant to its stock option plan. The options may be exercised at a
price of $0.90 per option for a period of five years from the date of grant. The grant of options
remains subject to the approval of the TSX Venture Exchange.
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its Itinga group of properties, which hosts its flagship Bandeira Lithium Project, as well as
its Salinas group pf properties cover ~14,000 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. The 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 FS is prepared by independent representatives of AtkinsRéalis, GE21, Planminas and L&M
each of whom are Qualified Person as defined by NI 43-101 Standards of Disclosure for Mineral
Projects. Each of the QPs are independent of Lithium Ionic and have reviewed and confirmed that
this news release fairly and accurately reflects, in the form and context in which it appears, the
information contained in the respective sections of the Bandeira Technical Report for which they
are responsible. The affiliation and areas of responsibility for each QP involved in preparing the
Bandeira FS are provided below.
Mineral Resource Estimate: Carlos José Evangelista, Geologist from GE21
Underground mine studies: Engineer, Rubens Mendonça from Planminas
The mineral processing studies were consolidated and defined by Tony Lipiec, Process Engineer
and Vice President Global, Minerals & Metals Processing at AtkinsRéalis
Environmental studies: Branca Horta from GE21
Tailings Disposal systems: Porfírio Cabaleiro from GE21
The economic and financial model was certified and validated by João Augusto Hilario de Souza
from L&M Advisory, as the qualified professional.
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 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 Project, the economic viability of the Project, future spodumene prices, the Company’s
ability to obtain financing, the Company’s ability to develop t he Project, the Company’s ability to
obtain the requisite permits and approvals to develop the Project, the Company’s exploration
program and other mining projects and prospects thereof, stock option grants 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 this news release and, accordingly, is subject to c hange 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.