Mr. Rob Shewchuk reports

LITHIUMBANK RECEIVES LICENSE AND 100% OWNERSHIP OF SECOND WELL AT BOARDWALK LITHIUM PROJECT

Further to the news release dated Nov. 20, 2025, LithiumBank Resources Corp. has completed the well licence transfer of the suspended, past-producing well 104/01-12-069-22W5/00 (1-12) and has 100-per-cent ownership. The 1-12 well is located in close proximity to the company's 10-6 well (acquisition announced May 16, 2024) at the 100-per-cent-owned Boardwalk project, located in northwestern Alberta, Canada. The company anticipates re-entering and drilling the 1-12 well deeper through the entire Leduc formation.

The 1-12 well acquisition, and data received from the coming drill and completion program, will support the work that goes into the development agreement the company signed with a leading energy service and technology supplier (news release dated Dec. 22, 2025). The DA envisions the company and LESTS collaborating in developing the Boardwalk asset using licensed modular direct lithium extraction technology, and includes commissioning a feasibility study, front-end engineering design, engineering procurement and construction activities.

Acquiring the 1-12 well and subsequent re-entry are important steps toward unlocking $3.9-million in funding from the Province of Alberta through the Emissions Reduction Act. In partnership with the province and LESTS, LithiumBank is focused on commencing near-term production from Boardwalk by employing the LESTS's well-to-product lithium brine processing solutions, which include direct lithium extraction modules. The DA with LESTS was signed Dec. 22, 2025, which includes binding DLE licensing terms and targets project execution for 2027. This modular approach allows Boardwalk to scale up at 5,000 tonnes per annum of lithium carbonate increments thus derisking the project by reducing upfront capital while also utilizing existing oil and gas infrastructure.

The company believes this well, following exploration work, can likely support near-term lithium brine production as it is in an area that has abundant historic production data and surface/subsurface infrastructure (wells, well pads, pipelines, roads, water and power).

As previously announced (July 17, 2025), to qualify for reimbursement of expenses from the ERA, LithiumBank must complete the following milestones:

1. Complete an additional exploration drill hole through the Leduc formation reservoir at Boardwalk to support an advanced reservoir model and geological model and collect additional brine; this exploration test well is situated so it can be converted into a brine production well in the future;
2. Conduct long-cycle DLE testing and optimization, focusing on concentration and impurity removal testing, and conversion to lithium carbonate; and
3. Complete a feasibility study at Boardwalk that assesses a low-capital-expenditure modular approach to lithium production.

The company anticipates that this well acquisition will initiate the first milestone, allowing the company to test the reservoir productivity, collect additional brine for DLE testwork and optimize plant assumptions (milestone 2). Results from milestones 1 and 2 are expected to support a National Instrument 43-101 feasibility study to be completed by the end of 2026, the third milestone. The ERA program will refund the company 50 per cent of eligible expenditures for each of the three milestones as they are completed, up to a total of $3.9-million.

Over the past five years, the company has consolidated all the strategic brine-hosted mineral licences at Boardwalk and Park Place covering the Leduc formation. The NI 43-101 resource estimates at Boardwalk and Park Place 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. The two projects are completely unrestricted by overlapping pore space for carbon sequestration applications/permits, allowing for a clearer path toward permitting of the first production of lithium from brines in Alberta.

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 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 they appears.

About LithiumBank Resources Corp.

LithiumBank 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 technologies and has signed a development agreement for the Boardwalk project. This agreement includes binding DLE licensing terms with a leading energy service and technology supplier to provide a cost-effective and commercially viable end-to-end solution. The company is working toward establishing commercial lithium production using a modular scale-up approach.

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