LithiumBank Awarded $3.9M in Non-Dilutive Funding from Emissions Reduction Alberta to Advance Boardwalk Lithium Brine Project

Core Viewpoint - LithiumBank Resources Corp. has been awarded CAD $3.9 million in non-dilutive funding from Emissions Reduction Alberta to advance the Boardwalk Lithium Brine Project, which is expected to enhance lithium production capabilities in Alberta [1][2]. Funding and Project Development - The funding will reimburse 50% of eligible expenditures for each completed milestone, up to a total of CAD $3.9 million [1]. - The company aims to complete specific tasks by the end of 2026, which include drilling, DLE testing, and a feasibility study [3][6]. Strategic Positioning - Alberta is recognized for its favorable geology and lithium resources, positioning the Boardwalk project as a leading lithium initiative in Canada with significant scaling potential [2]. - LithiumBank has consolidated strategic Brine Hosted Mineral Licenses, making it the largest holder of lithium brine resources in North America [4]. Project Milestones - Key milestones include: 1. Completing an additional drill hole through the Leduc formation to support an advanced reservoir model and future production [6]. 2. Conducting longer cycle DLE testing and optimization for lithium carbonate conversion [6]. 3. Completing a feasibility study assessing a low Capex, modular approach to lithium production [6]. Company Overview - LithiumBank Resources Corp. focuses on developing its two flagship projects, Boardwalk and Park Place, which host some of the largest lithium brine resources in North America [14]. - The company holds 1,237,487 acres of brown-field brine hosted mineral licenses across Alberta and Saskatchewan [14].