CORRECTION FROM SOURCE: LithiumBank Announces AGM Results

Rhea-AI Summary

LithiumBank Resources held its Annual and Special Meeting of Shareholders on April 30, 2025, with all proposed resolutions successfully approved. The meeting saw participation from shareholders representing 19.70% of the company's outstanding shares, with 9,827,931 common shares voted.

Key approved resolutions include:

• Reappointment of Davidson & Company LLP as auditors
• Setting the board size at five directors
• Election of board members: Robert Shewchuk, Steven Piepgrass, Christopher Murray, Ekaterina Zotova, and Paul Matysek
• Approval for re-pricing of previously granted stock options

The company, focused on lithium-enriched brine projects in Western Canada, maintains transparency with detailed resolution information available on their website. CEO Rob Shewchuk expressed gratitude to shareholders for their participation and continued support.

Positive

• All resolutions presented at AGM were approved by shareholders
• 19.70% shareholder participation in voting
• Successful appointment of all five nominated directors
• Maintained strong corporate governance with reappointment of auditors

Negative

• Low shareholder turnout with only 19.70% of outstanding shares voted
• Stock option re-pricing approved, which could potentially dilute shareholder value

Vancouver, British Columbia--(Newsfile Corp. - April 30, 2025) - LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) ("LithiumBank" or the "Company") a lithium development company focused on lithium-enriched brine projects in Western Canada, announces the voting results from its Annual and Special Meeting of Shareholders (the "Meeting"), held on April 30, 2025.

All resolutions presented to the Shareholders were approved. Each of the resolutions are explained in detail in the Management Information Circular published in connection with the Meeting. It is available for reference on the Company's website www.lithiumbank.ca.

A total of 9,827,931 common shares, representing approximately 19.70% of the Company's outstanding common shares, were voted in person and by proxy at the Meeting. Shareholders voted in favour of:

• Reappointing Davidson & Company LLP as auditors of the Company;
• Setting the number of directors at five, with the following five nominees elected as directors: Robert Shewchuk, Steven Piepgrass, Christopher Murray, Ekaterina Zotova and Paul Matysek; and
• Approving the Re-Pricing of Previously Granted Stock Options.

"On behalf of the board, I would like to thank shareholders for their participation and continuing support," commented Rob Shewchuk, CEO, LithiumBank.

About LithiumBank Resources Corp.

LithiumBank Resources Corp., is a publicly traded lithium company that is focused on advancing its two flagship projects, Boardwalk and Park Place, in Western Canada. The Company holds 1,855,915 acres of brown-field lithium brine licenses, across three (3) districts in Alberta and Saskatchewan. The Company has pilot tested multiple mature Direct Lithium Extraction ("DLE") technologies and is working toward establishing commercial lithium production by a modular approach.

‍Contact:

Rob Shewchuk
CEO & Director
rob@lithiumbank.ca
(778) 987-9767

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-Looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the Company advancing its portfolio of brine projects; the funding of the Company's work streams; update and upgrade of the current Mineral Resource Estimate at Boardwalk; an initial mineral resource estimate for Park Place and the timing thereof; plans to execute additional sampling campaigns in 2025.

Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include, without limitation, the risk that the Company will not be able to achieve its stated goals; the potential for delays in exploration, development, permitting, and assembly activities at the Company's projects and DLE pilot plant; the Company not being able to advance its portfolio of brine projects; delays in the commissioning of the pilot plant; the Company not being able to fund its work streams; the Company not being able to run DLE pilot plant campaigns as planned, or at all; the DLE pilot plant not being permitted by the City of Calgary when expected, or at all; the results of future pilot test work not meeting the Company's expectations; the Company not being able to extend the well at Boardwalk; the Company not being able to obtain reservoir and brine chemistry data from Boardwalk; the Company not being able to deliver an initial mineral resource estimate for Park Place when planned, or at all; that the brine from the Company's two Alberta projects not being compatible with the exclusive G2L DLE technology; the cyclical nature of the industry in which the Company operates; risks related to global financial markets, including the trading price of the Company's shares and the Company's ability to raise capital may also result in additional and unknown risks or liabilities to the Company.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250422

FAQ

What were the key voting results at LithiumBank's (LBNKF) 2025 AGM?

At LithiumBank's April 30, 2025 AGM, shareholders representing 19.70% of shares voted to approve all resolutions, including reappointing Davidson & Company as auditors, electing five directors, and approving the re-pricing of previously granted stock options.

Who are the newly elected board members for LithiumBank (LBNKF) in 2025?

The five elected board members are Robert Shewchuk, Steven Piepgrass, Christopher Murray, Ekaterina Zotova and Paul Matysek, following shareholder approval at the April 30, 2025 AGM.

What percentage of LithiumBank (LBNKF) shareholders participated in the 2025 AGM?

A total of 19.70% of LithiumBank's outstanding common shares, representing 9,827,931 shares, were voted in person and by proxy at the April 30, 2025 AGM.

What stock option changes were approved at LithiumBank's (LBNKF) 2025 AGM?

Shareholders approved the Re-Pricing of Previously Granted Stock Options at LithiumBank's April 30, 2025 AGM, though specific details of the re-pricing were not disclosed in the press release.

Where can investors find detailed information about LithiumBank's (LBNKF) 2025 AGM resolutions?

Detailed information about all AGM resolutions can be found in the Management Information Circular available on LithiumBank's website at www.lithiumbank.ca.