Mr. Rob Shewchuk reports

LITHIUMBANK SIGNS BINDING OPTION AGREEMENT ON STRATEGIC LAND FOR CENTRAL PROCESSING FACILITY AT BOARDWALK LITHIUM BRINE PROJECT

LithiumBank Resources Corp. has entered into a binding option agreement to acquire up to 160 acres of privately owned land in the Sturgeon Lake area of Alberta. The site has been identified as a preferred location for the company's planned central lithium processing facility for its flagship Boardwalk lithium brine project.

The land package is strategically situated within the Boardwalk project area to capitalize on existing project-level infrastructure through a separate letter of intent (announced July 9, 2026). This option provides LithiumBank with the first right to acquire the property. The company will have up to three years following the effective date of July 30, 2026, to exercise the option. It is anticipated to provide ample space for future processing infrastructure, including a centralized direct lithium extraction (DLE) processing facility. LithiumBank will have the option to select up to 160 acres from a designated 320-acre area. The land is accessible via a paved township road, approximately 800 metres (m) from Highway 43. The land is served by a 138-kilovolt power transmission line along the township access road. An active natural gas pipeline traverses the southern portion of the land. The Little Smoky River is situated approximately 2.5 kilometres (km) east of the land. The finalized infrastructure option (LOI (letter of intent) announced July 9, 2026) will not only provide LithiumBank with the opportunity to realize substantial cost savings compared with constructing new infrastructure required for extracting lithium brine from Boardwalk, but also will encompass numerous access and right-of-way provisions essential for such extraction. The economic benefits of strategic land and infrastructure within the Boardwalk project area will be reflected in the feasibility study for Boardwalk currently being conducted by the company, which is anticipated to be finalized in 2027.

"This option represents another important step in advancing Boardwalk toward commercial development," said Rob Shewchuk, chief executive officer of LithiumBank. "Securing control of a potential processing site early in the development process allows us to optimize project design, preserve optionality and continue derisking one of North America's largest lithium brine development projects."

The proposed central processing facility is expected to receive lithium-rich brine from production wells throughout the Boardwalk project area where lithium would be recovered using direct lithium extraction technology. The location was selected following preliminary engineering and infrastructure assessments that considered land availability, access, existing infrastructure and future expansion opportunities.

The transaction remains subject to completion of due diligence, negotiation of definitive documentation and customary regulatory approvals. There can be no assurance that the option will ultimately be exercised or that the transaction will be completed.

Option grant

In connection with the company's announcement on July 16, 2026, regarding Logan Harris's appointment as vice-president, project development, the company wishes to disclose that it has also granted incentive stock options to Mr. Harris to purchase 360,000 common shares of the company. The options are exercisable at 43 cents per share and expire on July 15, 2031, vesting over two years in equal quarterly instalments of 90,000 options every six months from the date of grant.

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 DLE technologies and has signed a development agreement with SLB to bring the Boardwalk project into production. This agreement includes binding DLE licensing terms with SLB to provide an energy efficient, cost-effective and commercially viable end-to-end lithium brine solution. The company is now working toward establishing commercial lithium production by leveraging existing brownfield infrastructure and a modular scale-up approach.

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 they appear. Mr. Piepgrass is the chief operating officer for LithiumBank and is non-independent.

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