CALGARY – LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) announced it has signed a Memorandum of Understanding with Invest Alberta to support the development of a commercial lithium production facility at the Company’s Boardwalk brine project located 85 kilometres east of Grand Prairie, Alberta. Under the agreement, Invest Alberta has agreed to support LithiumBank by promoting the project domestically and internationally, facilitating relationships with key stakeholders and senior government officials, and connecting the Company with post-secondary institutions to create a qualified talent pipeline. The agreement has the potential to create high paying employment opportunities in Alberta and to solidify the province’s position as a supporter of the clean energy sector.

“Invest Alberta is a great example of why we believe Alberta is one of the best locations in the world to develop critical mineral resources and electrification supply chains,” commented LithiumBank Executive Chairman Paul Matysek. “This Memorandum of Understanding is an important step for LithiumBank as we aim to make Alberta and Canada global leaders in lithium resource development. Invest Alberta’s support is expected to accelerate the creation of new green energy jobs that can help Alberta capitalise on the era of electrification and decarbonization.”

“Unlocking the potential of Alberta’s lithium resources creates new opportunities for innovation, investment, and jobs that are expected to benefit the local economy and the global community,” said Rick Christiaanse, Invest Alberta CEO. “LithiumBank’s commercial lithium production facility in northern Alberta marks a significant step for Alberta as a destination of choice for critical mineral resource development and as a key partner in the electrification supply chain.”

“Alberta’s economy has momentum and LithiumBank wants to be a part it. Our province has a friendly corporate tax rate, with a ready-to-work, skilled workforce, and decreased red tape to ensure businesses like LithiumBank can prosper. I look forward to seeing what innovative energy solutions may come from this MOU agreement,” commented Alberta Minister Rajan Sawhney, Trade, Immigration and Multiculturalism.

Invest Alberta is engaging the world and providing high-end tailored support to companies, investors, and major new projects. With team members strategically positioned in key markets around the world, Invest Alberta works to break down barriers so businesses can start up, scale up, and succeed without limits. Since 2020, Invest Alberta has supported the commitment of nearly $20 billion in investment that created more than 24,000 new high-value jobs for Albertans.

LithiumBank Resources Corp. is a development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.6 million acres of mineral titles, 3.33M acres in Alberta and 336k acres in Saskatchewan. LithiumBank’s mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel of the Boardwalk Lithium Brine Project.

tsx
aim
otcqx
ax
tsxv
lithium