LithiumBank Awarded $3.9M in Non-Dilutive Funding from Emissions Reduction Alberta to Advance Boardwalk Lithium Brine Project
LithiumBank Resources (OTCQX:LBNKF) has secured CAD $3.9 million in non-dilutive funding from Emissions Reduction Alberta (ERA) to advance its Boardwalk Lithium Brine Project in west-central Alberta. The ERA Program will refund 50% of eligible expenditures for completed milestones.
The funding will support three key initiatives: completing an additional drill hole through the Leduc formation reservoir, conducting extended Direct Lithium Extraction (DLE) testing, and completing a Feasibility Study focusing on a modular approach to lithium production. These tasks are expected to be completed by the end of 2026.
LithiumBank has consolidated all strategic Brine Hosted Mineral Licenses at Boardwalk and Park Place, making it the largest known holder of lithium brine resources in North America. Both projects report the highest-grade resource estimates in Alberta and are unrestricted by overlapping pore space or carbon sequestration permits.
LithiumBank Resources (OTCQX:LBNKF) ha ottenuto un finanziamento non diluitivo di 3,9 milioni di CAD da Emissions Reduction Alberta (ERA) per portare avanti il suo progetto Boardwalk Lithium Brine nella zona centro-occidentale dell'Alberta. Il programma ERA rimborserà il 50% delle spese ammissibili per le tappe completate.
Il finanziamento sosterrà tre iniziative principali: completare un ulteriore foro di perforazione attraverso il serbatoio della formazione Leduc, condurre test estesi di Estrazione Diretta del Litio (DLE) e completare uno studio di fattibilità focalizzato su un approccio modulare alla produzione di litio. Questi obiettivi dovrebbero essere raggiunti entro la fine del 2026.
LithiumBank ha consolidato tutte le licenze strategiche di minerali ospitati in salamoia a Boardwalk e Park Place, diventando il più grande detentore noto di risorse di litio in salamoia in Nord America. Entrambi i progetti presentano le stime di risorse più elevate in Alberta e non sono soggetti a restrizioni dovute a sovrapposizioni di spazi porosi o permessi di sequestro del carbonio.
LithiumBank Resources (OTCQX:LBNKF) ha asegurado un financiamiento no dilutivo de 3.9 millones de CAD de Emissions Reduction Alberta (ERA) para avanzar en su Proyecto Boardwalk Lithium Brine en el centro-oeste de Alberta. El programa ERA reembolsará el 50% de los gastos elegibles por los hitos completados.
El financiamiento apoyará tres iniciativas clave: completar un pozo adicional a través del reservorio de la formación Leduc, realizar pruebas extendidas de Extracción Directa de Litio (DLE) y completar un Estudio de Factibilidad centrado en un enfoque modular para la producción de litio. Se espera que estas tareas se completen para finales de 2026.
LithiumBank ha consolidado todas las licencias estratégicas de minerales alojados en salmuera en Boardwalk y Park Place, convirtiéndose en el mayor titular conocido de recursos de litio en salmuera en América del Norte. Ambos proyectos reportan las estimaciones de recursos de mayor ley en Alberta y no tienen restricciones por superposición de espacio poroso o permisos de secuestro de carbono.
LithiumBank Resources (OTCQX:LBNKF)는 서중부 앨버타에 위치한 Boardwalk Lithium Brine 프로젝트를 진행하기 위해 Emissions Reduction Alberta (ERA)로부터 390만 캐나다 달러의 비희석 자금을 확보했습니다. ERA 프로그램은 완료된 이정표에 대해 적격 지출의 50%를 환급합니다.
이 자금은 세 가지 주요 과제 지원에 사용됩니다: Leduc 지층 저장층을 통과하는 추가 시추공 완성, 확장된 직접 리튬 추출(DLE) 테스트 수행, 그리고 리튬 생산을 위한 모듈식 접근법에 중점을 둔 타당성 조사 완료. 이 작업들은 2026년 말까지 완료될 예정입니다.
LithiumBank는 Boardwalk와 Park Place에 있는 모든 전략적 염수 기반 광물 라이선스를 통합하여 북미에서 가장 큰 리튬 염수 자원 보유자가 되었습니다. 두 프로젝트 모두 앨버타 내 최고 등급의 자원 추정치를 보고하며, 다공성 공간 중첩이나 탄소 포집 허가로 인한 제한이 없습니다.
LithiumBank Resources (OTCQX:LBNKF) a obtenu un financement non dilutif de 3,9 millions de dollars canadiens de la part d'Emissions Reduction Alberta (ERA) pour faire avancer son projet Boardwalk Lithium Brine dans l'ouest du centre de l'Alberta. Le programme ERA remboursera 50 % des dépenses admissibles pour les étapes réalisées.
Ce financement soutiendra trois initiatives clés : achever un forage supplémentaire à travers le réservoir de la formation Leduc, effectuer des tests étendus d'extraction directe du lithium (DLE), et finaliser une étude de faisabilité axée sur une approche modulaire de la production de lithium. Ces tâches devraient être terminées d'ici la fin 2026.
LithiumBank a consolidé toutes les licences stratégiques de minéraux hébergés en saumure à Boardwalk et Park Place, devenant ainsi le plus grand détenteur connu de ressources en saumure de lithium en Amérique du Nord. Les deux projets présentent les estimations de ressources les plus riches en Alberta et ne sont soumis à aucune restriction liée à l'espace poreux chevauchant ou aux permis de séquestration du carbone.
LithiumBank Resources (OTCQX:LBNKF) hat eine nicht verwässernde Finanzierung in Höhe von 3,9 Millionen CAD von Emissions Reduction Alberta (ERA) erhalten, um das Boardwalk Lithium Brine Projekt im westzentralen Alberta voranzutreiben. Das ERA-Programm erstattet 50 % der förderfähigen Ausgaben für abgeschlossene Meilensteine.
Die Finanzierung unterstützt drei zentrale Initiativen: das Fertigstellen eines weiteren Bohrlochs durch das Leduc-Formationsreservoir, die Durchführung erweiterter Direkt-Lithium-Extraktions-(DLE)-Tests und den Abschluss einer Machbarkeitsstudie mit Fokus auf einen modularen Ansatz zur Lithiumproduktion. Diese Aufgaben sollen bis Ende 2026 abgeschlossen sein.
LithiumBank hat alle strategischen Lizenzen für mineralhaltige Solevorkommen in Boardwalk und Park Place konsolidiert und ist damit der größte bekannte Inhaber von Lithium-Sole-Ressourcen in Nordamerika. Beide Projekte weisen die hochwertigsten Ressourcenschätzungen in Alberta auf und sind nicht durch überlappende Porenräume oder Kohlenstoffspeichergenehmigungen eingeschränkt.
- Secured CAD $3.9M in non-dilutive funding from ERA
- Status as largest known holder of lithium brine resources in North America
- Projects have highest-grade resource estimates in Alberta
- Clear path toward permitting with no overlapping restrictions
- Potential for future expansion through modular approach
- Project completion timeline extends to end of 2026
- Still requires completion of Feasibility Study
- Further testing and optimization needed before production
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2025) - LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) ("LithiumBank" or the "Company") is pleased to announce it has been awarded CAD
"Alberta is a world class jurisdiction with enviable geology and lithium resources. We believe advancing Boardwalk using modular, commercial ready Direct Lithium Extraction ("DLE") technology will reduce development timelines and minimize initial Capex," commented Rob Shewchuk, CEO & Director of LithiumBank. "Our commercialization strategy will position Boardwalk in the near-term as one of the leading lithium projects in Canada with exponential scale up potential there as well as at Park Place."
"LithiumBank has shown great success in advancing the Boardwalk lithium brine project to date and continues to demonstrate a pragmatic development approach toward achieving economic lithium production in Alberta," commented Minister of Environment and Protected Areas, Rebecca Schulz. "Producing lithium from Alberta brine and integrating existing infrastructure aligns Boardwalk with the provinces long-term environmental and economic goals."
Funding provided from ERA will be used in achieving the following milestones:
Complete an additional drill hole through the Leduc formation reservoir at Boardwalk to support an advanced reservoir model, collect additional brine. This test well is situated so it can be converted into a production well in the future;
Conduct longer cycle DLE testing and optimization, focusing on concentration and impurity removal testing, and conversion to lithium carbonate; and,
Complete a Feasibility Study at Boardwalk that assesses a low Capex, modular approach to lithium production.
The Company expects to complete these tasks by the end of 2026.
The Company has successfully consolidated all the strategic Brine Hosted Mineral Licenses ("BHML") at Boardwalk and Park Place covering the Leduc formation (BHML areas shown in Figure 1). The NI 43-101 resource estimates at Boardwalk and Park Place, as shown below in Figure 1, are both reported as the highest-grade resource estimates in Alberta and together make LithiumBank the largest known holder of lithium brine resources in North America (Figure 2). The two projects are completely unrestricted by overlapping pore space or carbon sequestration applications/permits allowing for a clear path toward permitting of the first DLE module and future additions.
Figure 1: Map of the Park Place and Boardwalk projects highlighting categories of NI 43-101 lithium brine resource estimates.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10140/259130_c3b79b1a54617973_001full.jpg
Notes
1: Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource will ever be upgraded to a higher category. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
2: The weights are reported in metric tonnes (1,000 kg or 2,204.6 lbs).
3: Tonnage numbers are rounded to the nearest 1,000 unit.
4: In a 'confined' aquifer (as reported herein), effective porosity is an appropriate parameter to use for the resource estimate.
5: The resource estimation was completed and reported using a cut-off of 50 mg/L Li.
6: To describe the resource in terms of industry standard, a conversion factor of 5.323 is used to convert elemental Li to Li2CO3, or Lithium Carbonate Equivalent (LCE).
Figure 2: Graph of relevant brine hosted lithium resources in North America as of June 1st, 2025
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10140/259130_c3b79b1a54617973_002full.jpg
The information that forms the basis for the scientific and technical information disclosed in this news release was prepared and approved by Kevin Piepgrass, P.Geo, who is a Qualified Person (QP) for the purposes of National Instrument 43-101. Mr Kevin Piepgrass consents to the inclusion of the data in the form and context in which it appears.
About LithiumBank Resources Corp.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada, which host some of the largest lithium brine resources in North America (Figure 2). The Company holds 1,237,487 acres of brown-field brine hosted mineral 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
Director & CEO
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 release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the amount of funding to be received by the Company from the ERA, achievement of the milestones and the expected timing thereof, that advancing Boardwalk using modular, commercial ready DLE technology will reduce development timelines and minimize Capex, Boardwalk being positioned in the near term as one of the leading lithium projects in Canada with exponential scale up potential there and at Park Place, and statements regarding permitting of the first DLE module and future additions, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" or occur.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will receive the expected funding from the ERA; that the Company will be able to achieve the milestones by the end of 2026, or at all; that advancing Boardwalk using modular, commercial ready DLE technology will reduce development timelines and minimize Capex; that the Company's commercialization strategy will position Boardwalk in the near-term as one of the leading lithium projects in Canada with exponential scale up potential there and at Park Place; and that there is a clear path toward permitting of the first DLE module and future additions.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that the Company will not receive the anticipated funding from the ERA; that the Company will be unable to achieve the milestones by the end of 2026, or at all; that advancing Boardwalk using modular, commercial ready DLE technology will not reduce development timelines or minimize initial Capex; that Boardwalk will not be positioned in the near-term as one of the leading lithium projects in Canada with exponential scale up potential there and at Park Place; that the Company will not be able to permit the first DLE module; that North America's demand for lithium does not continue to grow; the possibility that any future development results will not be consistent with the Company's expectations; risks related to commodity price and foreign exchange rate fluctuations; 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 management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259130
FAQ
What is the value and source of funding awarded to LithiumBank (LBNKF) in July 2025?
How will LithiumBank use the ERA funding for the Boardwalk project?
What is LithiumBank's current position in North American lithium resources?
When does LithiumBank expect to complete the ERA-funded project milestones?
What advantages does LithiumBank's Boardwalk project location offer?
