LITHIUMBANK ANNOUNCES LARGEST KNOWN LITHIUMBRINE RESOURCES IN NORTH AMERICA AND HIGHEST RESOURCE GRADE IN ALBERTA

Calgary, Alberta - LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) ('LithiumBank' or the 'Company') is pleased to announce the initial National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101') lithium-brine mineral resource estimates of 10,078,000 tonnes of inferred Lithium Carbonate Equivalent ('LCE') at a grade of 79.4 mg/L lithium within the Leduc Formation ('Fm') aquifer, and 11,603,000 tonnes inferred LCE at 80.9 mg/L lithium within the Swan Hills Fm aquifer underlying its 100% owned Park Place lithium brine project ('Park Place') located in westcentral Alberta.

The initial mineral resource estimate assessments were prepared by global technology company SLB (NYSE: SLB) using 3D static modelling mining workflows. These assessments were then used to determine the resource estimates and reviewed and validated by a Qualified Person as defined by National Instrument 43-101 of Canada. The total inferred mineral resource for the Park Place project is 21,681,000 tonnes LCE between the two formations contained within the license boundaries with a combined average grade of 80.2 mg/L lithium. The Company anticipates filing a NI 43-101-compliant technical report in respect of Park Place on SEDAR+ within 45 days of this announcement. 'LithiumBank spent the past five-years consolidating Park Place brine hosted mineral licenses. This work has now culminated in 100% ownership of the largest LCE inferred mineral resource in North America and with the highest recorded lithium grade in Alberta. This is a remarkable achievement for the Company.

The Park Place resource puts LithiumBank's collective lithium brine resources inventory for the Company's Alberta projects at 27.78 million tonnes LCE. This presents district scale potential opportunity for Canada to become a major supplier of lithium in North America' commented LithiumBank CEO, Rob Shewchuk. 'The Company will now focus on additional brine sample assaying, completing lithium extraction test work, and initiate a Preliminary Economic Assessment ('PEA') for Park Place. 'We believe this can be expeditiously achieved as we can make use of our knowledge gained from our Boardwalk PEA, effectively dated February 22, 2024, located approximately 50 km to the north, in which the Leduc Formation brine is similar in chemistry, depth of resource, porosity and permeability. Park Place brine will be chemically and metallurgically evaluated at the Company's, exclusively licensed, 10,000 L/day Direct Lithium Extraction ('DLE') pilot plant in Calgary following a bulk brine sampling program in H2 2024.'

Highlights: Park Place is the largest known NI 43-101 inferred lithium brine resource estimate in North America. Highest known reported lithium-in-brine grades used in a NI 43-101 inferred lithium resource estimate in Alberta. 10,078,000 tonnes inferred LCE within the Leduc Fm aquifer at an average of 79.4 mg/L lithium. 11,603,000 tonnes inferred LCE within the Swan Hills Fm aquifer, which underlies the Leduc Formation, at an average of 80.9 mg/L lithium. Multiple high porosity areas occur that have a combined Leduc & Swan Hills Fm thickness of over 350 metres, and as high as 510 m, to be studied for potential selection of future PEA. Subsurface reservoir modelling conducted by SLB included data from 420 wells, 104 km2 of 3D seismic data and 262 km of two-dimensional ('2D') seismic data. Technical work pertaining to mineral resources to be documented in the technical report was performed by SLB, and overseen by Qualified Persons from Matrix Solutions Inc. The subsurface reservoir model constructed by SLB will assist in planning well networks and locations in future economic and engineering studies such as a PEA and Park Place bulk brine sample collection to occur in H2 2024 to be included in the 10,000 L/day continuous direct lithium extraction ('cDLE') pilot plant test work located in the Company's DLE facility in Calgary, Alberta.

Reservoir Evaluation

The reservoir evaluation was completed by SLB and overseen be Alex Haluszka, M.Sc., P.Geo. of Matrix Solutions Inc., a qualified person ('QP') under NI 43-101. The Park Place NI 43-101 mineral resource estimate includes inferred mineral resources from both the Leduc and Swan Hills Formations of 21,681,000 tonnes LCE at a weighted average grade of 80.2 mg/L lithium. Mineral resources are not mineral reserves and do not have demonstrated economic viability. The mineral resource estimate work was prepared within a portion of the Park Place Property (81%) that is defined as the area of interest ('AOI') and totals 1,140,115 acres. The Swan Hills Fm directly underlies the Leduc Fm and appear to be in hydraulic communication based on regionally available pressure data. While they may represent a regionally connected aquifer system, the two formations are evaluated separately due to an identifiable difference in lithology and porosity. The Swan Hills Fm is mapped to from 24 to 264 m in thickness within the claims area and the Leduc Fm immediately overlies the Swan Hills Fm, where present, with a maximum thickness of 366 m within the claims area. The maximum observed combined thickness where the two units overlap within the property is 511 m of highly porous reservoir rock occur that would potentially present ideal locations for consideration within a PEA.

The NI 43-101 mineral resource three-dimensional model utilized over 1,171 wells that have been drilled into the Devonian aged strata being evaluated. The dataset consisted of 196 wells intersecting the top of the Leduc Fm, 300 wells intersecting the top of the Swan Hills Fm, and 236 wells intersecting the bottom of the Swan Hills Fm. SLB constructed 3D geological and porosity models in Petrel subsurface software by using existing well logs and a combination of 3D and 2D seismic data acquired throughout the AOI at Park Place. SLB conducted petrophysical analysis of 118 wells, processed and interpreted 3D and 2D seismic data to correlate between acoustic impedance and porosity. Porosity data was parameterized in a 3D grid by distributing the porosity evaluated from well logs using a variogram derived from 3D and 2D seismic impedance data. Log porosity was verified via direct petrophysical correlations to core porosity measurements. This demonstrated that the petrophysical log-based porosity correlates well with effective core porosity.

Samples were analysed at AGAT Laboratories, an ISO 17025:2017 certified lab, in Calgary Alberta. LithiumBank implemented Quality Control and Quality Assurance (QA/QC) protocols for the analysis. Testing of brine samples from the 2 wells included duplicate samples, sample blanks, and laboratory-prepared sample standards. Samples were collected from the well head by BV Labs technicians (Leduc samples) and AGAT Lab technicians (Swan Hills samples) and couriered to AGAT Laboratories for analysis in Calgary. The LithiumBank brine sampling and analytical programs showed the Leduc and Swan Hills Formation aquifers underlying the Park Place Property contain elevated concentrations of lithium and the sampling program validated the post-2010s minerals industry exploration Librine results, with the exception of the historical Li-brine data compiled by the Government of Alberta ('GoA'). Hence, a total of 40 LithiumBank-derived and historical brine samples were used to determine the grade for the inferred mineral resource estimations (7 brine analyses from the Leduc Fm and 33 brine analyses from the Swan Hills Fm). Furthermore, Roy Eccles, a QP under NI 43-101 was involved in the historical minerals industry Li-brine sample collection campaigns and can therefore validate the collection, chain-of-custody, and analytical procedures that were used to determine select historical lithium-brine values. The QP was not able to validate the GoA data for use in the resource modelling and estimation process. The QP assessed both within-property and adjacent property Li-brine data using historical mineral industry- and LithiumBank-derived Li-brine values. In the QPs opinion average Librine concentrations of 79.4 mg/L Li and 80.9 mg/L Li should be used to estimate the Li-brine mineral resources for the Leduc and Swan Hills aquifers, respectively, underlying the Park Place property. Additional brine sampling and assay testing is required at Park Place to provide additional confidence to the distribution of lithium within the Leduc Fm and Swan Hills Fm aquifers

Lithium Extraction Evaluation

The evaluation of the suitability of applying DLE as a mineral processing technology for Park Place has been overseen by Maurice Shevalier, P.Chem, of Matrix Solutions Inc., QP as defined in NI 43-101. LithiumBank has yet to conduct mineral processing test work on brine from Park Place; however, brine characteristics of the Leduc Fm and the Swan Hills Fm at Park Place are similar enough to the brine at Boardwalk to safely assume the DLE technology used to extract lithium from the brine will be successful at Park Place. The Company is expected to conduct a bulk brine sampling program from both the Leduc and Swan Hills formations in H2 2024. Park Place will benefit from an existing, exclusive licensing agreement with G2L Greenview Resources Ltd. ('G2L') and piloting with their cDLE Ion Exchange ('IX') technology. The G2L IX technology is unique in that it is designed to work at high flow rates while maintaining a very high recovery of lithium (98%) and achieving a high purity (70%) lithium eluate, as reported in the Boardwalk PEA dated effective February 22, 2024. The Boardwalk PEA demonstrates that lower cost and readily available reagents such as quick lime (CaO) and sulphuric acid (H2SO4) can produce a high purity lithium sulphate eluate and lowering the cost of downstream processing of an LHM

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF), is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada. The Company holds 2,130,470 acres of brown-field lithium brine licenses, across three (3) districts in Alberta and Saskatchewan. The Company has licensed a DLE technology from Go2Lithium.

About G2L Greenview Resources Inc. (Go2Lithium)

G2L Greenview Resources Inc is a 100% owned subsidiary of Go2Lithium Inc. Go2Lithium Inc. was formed in early 2023 as a 50/50 joint venture between Computational Geosciences Inc (CGI), a subsidiary of the Robert Friedland-chaired Ivanhoe Electric Inc. (NYSE:IE) and Clean TeQ Water (ASX:CNQ).

Contact:

Rob Shewchuk

CEO & Director

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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 Company's expectations regarding the completion and filing of a technical report in respect of Park Place, and the timing thereof; the anticipated Park Place bulk brine sample collection and timing thereof; the Company's expectation that there is sufficient permeability and pressure within the Park Place reservoirs that brine production wells can be completed to deliver brine to surface at economical production rates; the Company's belief that DLE technology used to extract lithium from the brine will be successful at Park Place; the Company's expectations regarding the Park Place resource estimate representing a great opportunity for Canada to become a major supplier of lithium in North America; the Company's expectations regarding the future lithium supply needs in North America; the Company's intention to focus on completing a PEA on the Park Place project; the Company's expectation that the Park Place PEA can be completed expeditiously; the Company's expectation that similarities in chemistry, depth of resource, porosity and permeability between the Boardwalk project and the Park Place project, as well as the knowledge gained from the Boardwalk PEA will expedite completion of the Park Place PEA; the expectation that Park Place will benefit from the licensing agreement with G2L and its brine will be fully evaluated at the Company's DLE pilot plant and the timing and efficiency of such evaluation;; the expectation that the Park Place subsurface reservoir model will be considered in future economic and engineering studies; the Company's expectation that its sampling and analysis method has produced conservative results that avoid over-estimation of the mineral resources at Park Place; the Company's expectation that Park Place will benefit from the existing, exclusive licensing agreement with G2L and their IX technology; the Company's expectation that the IX technology will produce high flow rates while maintaining a very high recovery of lithium (98%) and achieving a high purity (70%) lithium eluate and the Company's expectation that lower cost and readily available reagents can produce a high purity lithium sulphate eluate and lowering the cost of downstream processing of an LHM 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 Company will complete and file a technical report in respect of Park Place, and will do so on the timeline indicated; that the Company will be able to complete Park Place bulk brine sample collection and on the timelines anticipated; that there is sufficient permeability and pressure within the Park Place reservoirs that brine production wells can be completed to deliver brine to surface at ecnominal production rates; that DLE technology used to extract lithium from the brine will be successful at Park Place; that Canada can become a major supplier of lithium in North America; that future lithium supply needs in North America will be significant; that the Company will be have the time and resources to focus on completion of a PEA on the Park Place project; that the Park Place PEA can be completed expeditiously and that the similarities between the Boardwalk and Park Place projects and the Company's knowledge gained from completion of the Boardwalk PEA will assist expedite the completion of the Park Place PEA; that evaluation of the Park Place brine can be completed efficiently at the Company's DLE pilot plant on the timelines anticipated and Park Place will benefit from the licensing agreement with G2L; the scale at which the Company is able to advance benchmark extraction test work to any potential fully commercial operation; that the subsurface reservoir model at Park Place will assist in planning brine production zones and associated well networks in future economic and engineering studies; that the existing, exclusive licensing agreement with G2L and their IX technology will continue and the Company will obtain the anticipated benefit from such licensing agreement and that the Company's use of lower cost and readily available reagents will produce high purity lithium sulphate eluate and that this will lower downstream processing costs.

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