NEWS

CALGARY, Alberta, April 03, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) a lithium development company focused on lithium-enriched brine projects in Western Canada, announces that effective April 1, 2023, it has engaged Brisco Capital Partners Corp. (“Brisco”) to provide marketing and investor relations services (the “Services”) to assist LithiumBank with expanding investor awareness of its business and actively communicating with the investment community.

In consideration for the Services, LithiumBank will pay Brisco a monthly fee of $7,500. LithiumBank has engaged Brisco for a term of 12 months, however LithiumBank can terminate the engagement at any time upon giving 30 days’ notice to Brisco. LithiumBank has also agreed to grant Brisco 200,000 stock options to purchase common shares for a period of 5 years at a price of $1.29 per share. 1/4 of such options shall vest every three months over a period of one year.  

Brisco is at arm’s length to the Company and is a Calgary, Alberta based full-service investor relations firm with more than two decades of experience working with publicly listed Canadian issuers, with a particular focus on resource companies. Brisco assists its clients with formulating and implementing an investor relations and communication strategy, including introducing its clients to a broad network of high-net worth investors, retail brokers, institutional buyside portfolio managers and industry specific analysts. The principal of Brisco is Scott Koyich. Neither Brisco nor Mr. Koyich currently owns any common shares or warrants of LithiumBank.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. is a development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank’s mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel of the Boardwalk Lithium Brine Project.

Contact:

Rob Shewchuk
CEO & Director
rob@lithiumbank.ca
(778) 987-9767

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the statement that the Company intends to complete a NI 43-101 Resource Estimate and the expecting timing thereof, the expectation that historical production logs and reports will reduce the timeline to complete geological and hydrogeological studies, and the Company’s expected ability to leverage existing infrastructure to advance its project are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Leduc Formation and the Swan Hills Formation will be favourable for brine production and that the continued sampling and study of both Formations will lead to a NI 43-101 Resource Estimate, that the Company will be able to use historical production logs and reports to significantly reduce the timelines required to complete detailed geological and hydrogeological studies, that the Company will be able to leverage existing infrastructure to rapidly advance the project, and that further sampling at Park Place will continue to confirm high lithium grades relative to elsewhere in Alberta. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company is not able to complete a NI 43-101 Resource Estimate as anticipated or at all, or that the results of the NI 43-101 Resource Estimate will not be as expected by management, that the Company is not able to use historical production logs and reports and/or leverage existing infrastructure to advance the project more rapidly, and that further sampling at Park Place will not have the results expected by management. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.