LithiumBank updates resource estimate for Park Place

LithiumBank Resources (TSXV: LBNK; OTCQX: LBNKF) announced an update to the National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) resource estimate for the Park Place lithium brine project, located in west-central Alberta. The consolidated Park Place project is about 180 km west of Edmonton.

The company has made strategic reductions in the total holdings of brine hosted mineral licences at Park Place to focus on areas that have the highest potential rates of brine production based on three-dimensional static reservoir modelling. The updated BHML holdings for Park Place consist of 226,683 ha for a total of 15,082,000 tonnes inferred of lithium carbonate equivalent at a grade of 80.0 mg/L lithium. The updated BHML position reduces the company's annual licencing fees by C$821,468.

The initial NI 43-101 compliant technical report for Park Place entitled "LithiumBank Resources Corp. Park Place NI 43-101 Technical Report" effectively dated June 24, 2024, originally reported 21,681,000 tonnes of inferred LCE at a grade of 80.2 mg/L lithium. The updated NI 43-101 resource estimate for Park Place, based on the company's current holding of BHMLs, totals 15,082,000 tonnes of inferred LCE at a grade of 80.0 mg/L lithium within contiguous BHMLs.

Park Place resource estimate Highlights include: Park Place continues to be one of the largest known NI 43-101 inferred lithium brine resource estimates in North America with 15,082,000 tonnes inferred LCE; Park Place has the second highest reported lithium-in-brine grades used in a NI 43-101 compliant inferred lithium resource estimate in Alberta at 80.0 mg/L lithium; 8,659,000 tonnes inferred LCE within the Leduc Fm aquifer at an average of 79.4 mg/L lithium.6,423,000 tonnes inferred LCE within the Swan Hills Fm aquifer, which underlies the Leduc Fm, at an average of 80.9 mg/L lithium; Multiple high porosity areas occur that have a combined Leduc & Swan Hills Fm thickness of over 350 metres, and as high as 511 m, to be studied for potential selection of future preliminary economic assessment.

The company has pilot tested multiple mature direct lithium extraction technologies and is working toward establishing commercial lithium production by a modular approach.

More information is posted on www.LithiumBank.ca.