Technology

Direct Lithium Extraction (“DLE”) is a processing approach used to recover lithium from subsurface brines. In a DLE flowsheet, lithium-bearing brine is produced from the reservoir and processed through a selective extraction stage designed to recover lithium while rejecting many unwanted impurities. The resulting lithium-rich solution is then further processed and concentrated to support production of battery-grade lithium products.

LithiumBank has pilot tested multiple mature DLE technologies and has signed a Development Agreement for the Boardwalk project that includes DLE licensing terms with SLB. The Company is advancing a modular development approach intended to support a cost-effective and commercially viable end-to-end solution for Boardwalk.

‍

Why DLE Matters at Boardwalk

For lithium brine projects, process performance, impurity rejection, downstream conversion, and capital efficiency are all key to project development. LithiumBank’s current work at Boardwalk is focused on long-cycle DLE optimization, polishing, conversion to battery-grade lithium carbonate, and the collection of operational data to support future engineering and development decisions.

‍

Current Technical Progress

At Boardwalk, LithiumBank is advancing technical work to support a modular development pathway. In March 2026, the Company announced it had completed the transfer of the 1-12 well and now has 100% ownership, with plans to re-enter and drill deeper through the Leduc formation. In April 2026, the Company announced it had successfully collected 150 cubic metres of brine from its 10-6 well for long-cycle DLE and polishing process optimization, conversion to a battery-grade lithium carbonate product, and hydrogeological data gathering.

‍

Boardwalk Development Approach