Mr. Rob Shewchuk reports

LITHIUMBANK SIGNS DEVELOPMENT AGREEMENT WITH LEADING ENERGY SERVICES AND TECHNOLOGY SUPPLIER THAT INCLUDES BINDING DLE LICENSING TERMS TO ADVANCE BOARDWALK TO COMMERCIAL PRODUCTION WITH PROJECT EXECUTION TARGETED FOR 2027

LithiumBank Resources Corp. has entered into a development agreement (DA) dated Dec. 21, 2025, with a leading energy services and technology supplier (LESTS) (together the parties) to provide technical services required to bring the Boardwalk lithium brine project, located in northwest Alberta, Canada, to production with project execution targeted for 2027. The DA envisions the parties collaborating in developing the Boardwalk asset using licensed modular direct lithium extraction (DLE) technology, and includes commissioning a feasibility study, front-end engineering design, and engineering procurement and construction activities. The feasibility study envisions two initial DLE modules together capable of up to 10,000 tonnes per annum (tpa) lithium carbonate (LCE).

"We are pleased to have reached this juncture in Boardwalk's development, where we have a distinct path toward commercial production," remarked Rob Shewchuk, chief executive officer and director of LithiumBank. "We are confident in LESTS's proven track record as the primary development contractor for the Boardwalk project. Their extensive experience in both subsurface and lithium processing technologies empowers LithiumBank to expedite our development process. We anticipate a feasibility study to be completed in 2026, which will significantly reduce our development timeline and costs compared to alternative strategies. Furthermore, we anticipate that Boardwalk will generate minimal new surface disturbance while simultaneously benefiting local communities. Additionally, our licence with LESTS's comprehensive proven DLE solution and modular approach is projected to scale production by 5,000 tpa LCE increments with a capital intensity that we believe is more advantageous than comparable brine projects in North America."

The DA is the culmination of three years of collaboration on LithiumBank's Alberta lithium brine assets that includes detailed subsurface modelling (as announced Feb. 20, 2025) and extensive DLE testing (as announced April 14, 2025). The flexible commercialisation approach with 5,000 tpa DLE modules significantly reduces the financial and technical risk in commercializing production of a battery grade lithium carbonate.

Part of the development funding will be provided by the Alberta government through Emissions Reduction Alberta (ERA) for:

1. Re-entering and deepening a second past-producing, suspended, oil and gas well of the Leduc formation (as announced Nov. 20, 2025);
2. Conducting concentration and conversion testing of 114,320 litres (30,200 gallons) raw brine to a battery-grade lithium carbonate;
3. Completing a feasibility study.

The funding will refund LithiumBank up to 50 per cent of each milestone up to a total of $3.9-million.

During the DA term, the company agrees to collaborate exclusively with LESTS with respect to proposed work contemplated by the DA, until the earlier of (i) such time as the parties execute a definitive agreement; or (ii) such time as the parties abandon negotiations by mutual written consent.

The DA includes the terms for the licensing of LESTS's proven technology at Boardwalk for the full processing flow sheet, from brine pretreatment all the way to a battery-grade product that is transferrable. The licence fee is payable from the proceeds of production by way of a gross overriding royalty that LithiumBank deems favourable to Boardwalk. The solution also uses significantly less water, energy and fewer chemical reagents in comparison with other DLE-based offerings.

Key milestones for the partnership with LESTS include:

• DLE testing eluate treatability and concentration study, and conversion testing;
• Feasibility study/DFS/subsurface modelling;
• Detailed engineering and AACE Class 2 estimate for financial investment decision;
• Procurement;
• Phased commercial production plant construction;
• Commissioning and start-up.

Boardwalk's National Instrument 43-101 resource estimate entitled "LithiumBank Resources Corp. Boardwalk NI 43-101 Technical Report" reported indicated resources of 5.2 million tonnes LCE at 81.6 mg/L (milligrams per litre) lithium within 11.96 cubic kilometres of brine and 2.8 million tonnes LCE inferred at 79 mg/L lithium within 6.56 cubic km of brine with an effective date of Feb. 20, 2025 (as announced Feb. 20, 2025).

Qualified person

The information that forms the basis for the scientific and technical information disclosed in this news release was prepared and approved by Kevin Piepgrass, PGeo, who is a qualified person (QP) for the purposes of National Instrument 43-101. Mr. Piepgrass consents and approves of the inclusion of the data in the form and context in which it appears. Mr. Piepgrass is the chief operating officer for LithiumBank and is non-independent.

About LithiumBank Resources Corp.

LithiumBank Resources is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada. These projects host some of the largest lithium brine resources in North America. The company holds 1,240,140 acres of brownfield brine-hosted mineral licences across three districts in Alberta and Saskatchewan. The company has pilot tested multiple mature direct lithium extraction (DLE) technologies and has signed a development agreement for the Boardwalk project. This agreement includes binding DLE licensing terms with a leading energy services and technology supplier to provide a cost-effective and commercially viable end-to-end solution. The company is now working toward establishing commercial lithium production using a modular scale-up approach.

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