LithiumBank Resources Stock Price, News & Analysis

LithiumBank Resources Corp. (OTCQX: LBNKF; TSXV: LBNK) is a publicly traded lithium company focused on lithium-enriched brine projects in Western Canada. According to multiple company disclosures, LithiumBank is advancing two flagship assets, the Boardwalk and Park Place lithium brine projects in west-central Alberta, which together host some of the largest reported NI 43-101 lithium brine resources in North America.

The company states that it holds a large portfolio of brown-field brine hosted mineral licenses (BHML) across several districts in Alberta and Saskatchewan. In various news releases, LithiumBank reports BHML and lithium brine license holdings in the range of more than 2 million acres across three districts in Western Canada, including Boardwalk and Park Place. These projects are located in an area with a long history of hydrocarbon extraction, existing road access, and electrical transmission lines, which the company highlights as important infrastructure for future project development.

Core business focus

LithiumBank describes itself as a lithium development company that is:

• Advancing Boardwalk and Park Place lithium brine projects in west-central Alberta.
• Acquiring and consolidating district-scale landholdings with prospective lithium brine geology in Western Canada.
• De-risking its assets through resource drilling, reservoir modelling, and large-scale pilot testing.
• Working toward commercial lithium production using a modular Direct Lithium Extraction (DLE) approach.

The company has completed a NI 43-101 Preliminary Economic Assessment (PEA) at Boardwalk and an initial NI 43-101 resource estimate at Park Place. LithiumBank reports that it has pilot tested multiple mature DLE technologies and is conducting large-scale DLE pilot campaigns on brines from Boardwalk and Park Place.

Boardwalk lithium brine project

The Boardwalk project is located in west-central Alberta, approximately east of Grande Prairie and northwest of Edmonton. LithiumBank reports that Boardwalk consists of 395,369 acres of contiguous Brine Hosted Mineral Licenses owned 100% by the company. The BHMLs overlie the Leduc Formation and the Beaverhill Lake Group/Swan Hills Formation, and the company notes that there are no freehold mineral rights or carbon sequestration/pore space permits or applications over Boardwalk.

According to the NI 43-101 technical report and related news releases, Boardwalk hosts:

• Measured and indicated resources totaling 5,195,000 tonnes of lithium carbonate equivalent (LCE) at an average grade of 81.6 mg/L lithium in the Leduc Formation aquifer.
• Inferred resources totaling 2,777,000 tonnes LCE at a weighted average of 79.0 mg/L lithium in the Leduc and Beaverhill Lake/Swan Hills aquifers.

The company states that this resource update represented an approximate 18% increase in lithium grade and about a 30% increase in overall lithium resources compared with a previous estimate. LithiumBank also notes that Boardwalk is reported as having the highest-grade measured or indicated lithium brine resource estimate in Alberta at 81.6 mg/L lithium.

The Boardwalk resource estimate is based on three-dimensional static reservoir modelling, porosity and permeability analysis, and connected pore volume statistics carried out in collaboration with SLB, a global technology and services company. The company reports that this subsurface reservoir model is intended to assist in planning well networks and locations for future economic and engineering studies.

Park Place lithium brine project

Park Place is another large lithium brine project in west-central Alberta, located approximately 50 km south of Boardwalk and situated between Edson, Fox Creek, and Hinton. LithiumBank reports that Park Place consists of a substantial area of BHMLs over the Leduc Formation and Swan Hills Formation, with the formations stacked and interpreted to be in hydraulic communication.

An updated NI 43-101 resource estimate for Park Place describes:

• Inferred resources totaling 15,082,000 tonnes LCE at a grade of 80.0 mg/L lithium within 226,683 ha of BHMLs after a strategic reduction in license footprint.
• 8,659,000 tonnes inferred LCE in the Leduc Formation at an average of 79.4 mg/L lithium.
• 6,423,000 tonnes inferred LCE in the Swan Hills Formation at an average of 80.9 mg/L lithium.

The company notes that Park Place continues to be one of the largest known NI 43-101 inferred lithium brine resource estimates in North America, and that it has the second highest reported lithium-in-brine grades used in a NI 43-101 compliant inferred lithium resource estimate in Alberta, second to Boardwalk. LithiumBank states that it elected to reduce non-core BHMLs at Park Place and its Peace project to focus on areas with higher potential brine production and to reduce annual licensing fees.

Direct Lithium Extraction (DLE) and pilot testing

LithiumBank emphasizes the use of Direct Lithium Extraction as a key part of its development strategy. Across several news releases, the company reports:

• Pilot testing of multiple mature DLE technologies on brines from Boardwalk and Park Place.
• A large-scale DLE pilot campaign using SLB's integrated lithium production solution based on ILiAD technology.
• Up to 95% lithium recovery and more than 99% impurity rejection from DLE pilot testing on bulk brine samples from both projects.
• Processing of approximately 70,000 litres of brine in combined pilot campaigns.
• Production of an exceptionally pure lithium chloride product from DLE eluates.

In addition, LithiumBank reports results from a Calgary-based DLE pilot plant using a licensed cDLE® technology. Brine from Boardwalk was processed through an adsorption circuit, achieving more than 98% lithium recovery, followed by desorption using dilute sulfuric acid to generate lithium-rich eluates. These eluates, with lithium concentrations in the range of 2,600–4,000 mg/L, were blended to a composite eluate of more than 3,100 mg/L lithium and then refined by a third-party technology provider into battery-grade lithium carbonate with reported purity above 99.95%.

The company notes that the DLE process is designed to upgrade lithium concentration from feed brine by approximately 44 times and to achieve very high rejection of impurities such as calcium, magnesium, sodium, potassium, strontium, and barium. LithiumBank also highlights that the DLE technology it is piloting is already used at commercial scale for other metals.

Modular development and commercialization strategy

LithiumBank repeatedly describes a modular approach to future lithium production. In its disclosures, the company explains that:

• It is working toward commercial lithium production using modular DLE plants.
• A modular approach is intended to reduce upfront capital requirements and lower financial and technical risk.
• Existing oil and gas infrastructure at Boardwalk and Park Place, such as wells, well pads, pipelines, roads, and power, is expected to be integrated into project planning.

At Boardwalk, LithiumBank has also entered into a Development Agreement with a Leading Energy Services and Technology Supplier (LESTS). The company states that this agreement covers technical services needed to bring Boardwalk to production, including a feasibility study, front-end engineering design, and engineering, procurement, and construction activities. The agreement includes binding DLE licensing terms for a full processing flow sheet from brine pretreatment to a transferrable battery-grade product, with a license fee payable as a gross overriding royalty on production.

The company notes that the development concept at Boardwalk envisions modular DLE units that can be scaled in increments of approximately 5,000 tonnes per annum of lithium carbonate equivalent. It also indicates that Alberta's Emissions Reduction Alberta (ERA) program has awarded non-dilutive funding to support milestones such as drilling additional wells, conducting long-cycle DLE testing, and completing a feasibility study focused on a low-capex, modular production strategy.

Resource base and land position

Across Boardwalk and Park Place, LithiumBank reports combined lithium resources of:

• 5,195,000 tonnes LCE in measured and indicated categories at an average grade of 81.6 mg/L lithium (Boardwalk only).
• 24,474,000 tonnes LCE in inferred category at an average grade of 80.1 mg/L lithium (Boardwalk and Park Place combined, based on NI 43-101 technical reports).

The company describes itself as holding one of the largest portfolios of lithium brine assets in North America, with millions of acres of BHMLs and lithium brine licenses across three districts in Alberta and Saskatchewan. It also notes that its projects are characterized as brown-field, reflecting long-standing oil and gas activity and existing subsurface data.

Corporate and capital markets profile

LithiumBank Resources Corp. is listed on the TSX Venture Exchange under the symbol LBNK and trades on the OTCQX market in the United States under the symbol LBNKF. The company holds annual and special meetings of shareholders, appoints auditors, and grants stock options to officers and directors, as disclosed in its news releases. It also notes that it has received non-dilutive funding from Emissions Reduction Alberta to support Boardwalk development milestones.

In its own descriptions, LithiumBank emphasizes that all scientific and technical information related to its projects is prepared and reviewed by Qualified Persons as defined under National Instrument 43-101, and that its resource estimates and pilot testing results are documented in technical reports and news releases filed on SEDAR+.

Risk and cautionary statements

The company repeatedly cautions that mineral resources are not mineral reserves and do not have demonstrated economic viability, and that there is no guarantee that any part of the resource will be upgraded to a higher category or converted into a reserve. LithiumBank also notes that there is no guarantee that it can successfully extract lithium in commercial quantities and that initial bench-scale or pilot test work may not translate to full-scale operations. It highlights that resource estimates and project outcomes may be affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, and other factors.

How LithiumBank fits within the mining and extraction sector

Within the broader mining, quarrying, and oil and gas extraction sector, LithiumBank is positioned as a lithium brine project developer that focuses on subsurface brine resources rather than hard-rock mining. Its activities include acquiring and consolidating subsurface mineral licenses, conducting geological and reservoir modelling, completing NI 43-101 resource estimates, and piloting DLE technologies. The company emphasizes the use of existing oil and gas infrastructure and subsurface data in Alberta and Saskatchewan as part of its development approach.

Key points for investors and researchers

• Lithium-focused company with two flagship lithium brine projects: Boardwalk and Park Place in west-central Alberta.
• Reports large NI 43-101 lithium brine resources with Boardwalk hosting measured, indicated, and inferred resources and Park Place hosting a large inferred resource.
• Actively piloting Direct Lithium Extraction technologies, including SLB's integrated solution and a licensed cDLE® process, with reported high lithium recovery and impurity rejection.
• Pursuing a modular, brown-field development strategy that aims to leverage existing oil and gas infrastructure.
• Has secured non-dilutive funding from Emissions Reduction Alberta for Boardwalk milestones and entered into a Development Agreement with a major energy services and technology supplier for DLE licensing and project execution.

Frequently Asked Questions (FAQ)

• What does LithiumBank Resources Corp. do?
  LithiumBank Resources Corp. is a publicly traded lithium development company focused on lithium-enriched brine projects in Western Canada. It is advancing the Boardwalk and Park Place projects in west-central Alberta and holds a large portfolio of brown-field brine hosted mineral licenses across districts in Alberta and Saskatchewan.
• Where are LithiumBank's main projects located?
  The company’s two flagship projects, Boardwalk and Park Place, are located in west-central Alberta. Boardwalk lies approximately east of Grande Prairie and northwest of Edmonton, while Park Place is situated between Edson, Fox Creek, and Hinton and is about 50 km south of Boardwalk.
• What type of lithium resources does LithiumBank report?
  LithiumBank reports lithium carbonate equivalent (LCE) resources in subsurface brines. At Boardwalk, it has measured and indicated resources totaling 5,195,000 tonnes LCE at an average grade of 81.6 mg/L lithium, plus inferred resources of 2,777,000 tonnes LCE. At Park Place, it reports 15,082,000 tonnes of inferred LCE at 80.0 mg/L lithium.
• What is Direct Lithium Extraction (DLE) in the context of LithiumBank?
  Direct Lithium Extraction refers to processes that selectively remove lithium from brine. LithiumBank has pilot tested multiple mature DLE technologies, including SLB's integrated lithium production solution and a licensed cDLE® process. The company reports up to 95% lithium recovery and more than 99% impurity rejection in pilot campaigns on Boardwalk and Park Place brines.
• How is LithiumBank developing the Boardwalk project?
  For Boardwalk, LithiumBank has completed a NI 43-101 PEA, updated the resource estimate in collaboration with SLB, and conducted extensive DLE pilot testing. It has also signed a Development Agreement with a Leading Energy Services and Technology Supplier that includes binding DLE licensing terms, feasibility study work, engineering design, and a modular development concept using DLE units.
• What is the significance of the Park Place project?
  Park Place is described as one of the largest known NI 43-101 inferred lithium brine resource estimates in North America, with 15,082,000 tonnes inferred LCE at 80.0 mg/L lithium after a strategic reduction in BHML footprint. The project covers stacked Leduc and Swan Hills formations and benefits from extensive historical oil and gas data and infrastructure.
• How large is LithiumBank’s land position?
  Across its disclosures, LithiumBank reports ownership of more than 2 million acres of brown-field brine hosted mineral licenses and lithium brine licenses across three districts in Alberta and Saskatchewan, including Boardwalk and Park Place. The exact acreage has varied over time as the company has consolidated core areas and allowed some non-core licenses to expire.
• On which exchanges does LithiumBank trade?
  LithiumBank Resources Corp. trades on the TSX Venture Exchange under the symbol LBNK and on the OTCQX market in the United States under the symbol LBNKF.
• Has LithiumBank received external funding support for its projects?
  Yes. The company reports that Emissions Reduction Alberta has awarded CAD $3.9 million in non-dilutive funding to support milestones at the Boardwalk project, including drilling, long-cycle DLE testing, and completion of a feasibility study focused on a modular production strategy.
• Are LithiumBank’s resources economically proven?
  No. LithiumBank emphasizes that its lithium brine resources are classified as mineral resources, not mineral reserves, and do not have demonstrated economic viability. There is no guarantee that any portion of the resources will be upgraded to reserves or that commercial extraction will be achieved.