LithiumBank Signs Binding Option Agreement on Strategic Land for Central Processing Facility at Boardwalk Lithium Brine Project

LithiumBank Resources Corp. has entered a binding option agreement to acquire up to 160 acres of privately owned land in the Sturgeon Lake area of Alberta. The land is identified as the preferred site for the central Direct Lithium Extraction (DLE) processing facility for the Boardwalk Lithium Brine Project. The option covers a designated 320-acre area, granting LithiumBank a first right to acquire the property with an exercise period of up to three years from the effective date of July 30, 2026.

Strategic infrastructure advantages include paved township road access, proximity to Highway 43, a 138-kV power transmission line, and an active natural gas pipeline. The acquisition aligns with a previously announced Letter of Intent (LOI) from July 9, 2026, to leverage existing project-level infrastructure for substantial cost savings. The site will support the planned centralized DLE processing facility to receive lithium-rich brine from production wells.

Economic benefits will be integrated into the ongoing Feasibility Study, anticipated to be finalized in 2027. The transaction is subject to due diligence, definitive documentation, and customary regulatory approvals. Additionally, VP of Project Development, Mr. Harris, was granted 360,000 incentive stock options at an exercise price of $0.43, expiring July 15, 2031, vesting over two years.

LithiumBank Resources Corp. (LBNK) has taken a logical, incremental step in its project development timeline, directly following the July 9, 2026 letter of intent to acquire infrastructure assets. Securing the processing site early de-risks the project by locking in a location with proven infrastructure access, which is critical for the planned modular direct lithium extraction approach. This move supports the company's stated goal of reducing capital expenditures and shortening the timeline to commercial production compared to greenfield alternatives.

The three-year exercise window provides management with flexibility to finalize engineering and regulatory requirements without immediate dilutive pressure. The news is consistent with the SLB partnership and ERA funding milestones, indicating steady progress toward the 2027 and 2029 production targets. No immediate financial impact is expected, as the transaction is an option agreement subject to due diligence.

LithiumBank Resources Corp. is a pre-revenue lithium brine developer focused on the Boardwalk and Park Place projects in Alberta, Canada. The flagship Boardwalk Project hosts a NI 43-101 resource of 5.2 million tonnes LCE (Measured & Indicated) at an average grade of 81.6 mg/L lithium, and 2.8 million tonnes LCE (Inferred) at 79 mg/L.

The company is pursuing a modular Direct Lithium Extraction (DLE) approach in partnership with SLB, targeting an initial production capacity of 10,000 tonnes per annum (tpa) of lithium carbonate. The project aims to leverage existing oil and gas infrastructure to reduce capital intensity and environmental footprint. Commercial production is targeted for 2027/2029, contingent on the completion of the Feasibility Study and securing of final investment decisions.