LithiumBank Resources’ Boardwalk Project: A New Leap Forward in Alberta’s Lithium Industry
Calgary, Alberta – April 7, 2025. LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is thrilled to share the news of a significant milestone in the development of its 100% owned Boardwalk lithium brine project located in west-central Alberta. The Company has recently filed a technical report (the “Report”) with the Canadian Securities Administrators, updating the mineral resource estimate at Boardwalk.
Updated Mineral Resource Estimate at Boardwalk
The Report, titled “LithiumBank Resources Corp. Boardwalk NI 43-101 Technical Report,” carries an effective date of February 20, 2025. The updated mineral resource estimate reflects the Company’s ongoing commitment to advancing the Boardwalk project. The resource estimate was prepared by independent consultants, with an increase in the indicated resource and an expansion of the inferred resource, as shown below:
- Indicated Resource: 15.4 million tonnes of lithium carbonate equivalent (LCE), an increase of 33% from the previous estimate.
- Inferred Resource: 14.7 million tonnes of LCE, an expansion of 21% from the previous estimate.
Implications for the Local Community and the World
The updated mineral resource estimate at Boardwalk is a significant step forward for LithiumBank and the lithium industry in Alberta. This development will bring about multiple implications, both locally and globally:
Local Impact
The expansion of the mineral resource estimate at Boardwalk is expected to generate substantial economic benefits for the local community. The project is projected to create new jobs during the construction phase and generate long-term employment opportunities. Additionally, the increased resource estimate may lead to increased revenues for the Company and the provincial government through royalties and taxes.
Global Impact
The lithium industry is experiencing rapid growth due to the increasing demand for lithium-ion batteries in various applications, such as electric vehicles and renewable energy storage. The updated mineral resource estimate at Boardwalk positions LithiumBank to contribute significantly to the global lithium supply. This development is expected to help stabilize the global lithium market and reduce reliance on imported lithium sources.
Conclusion
LithiumBank’s updated mineral resource estimate at the Boardwalk project marks a significant milestone in the Company’s journey towards becoming a leading player in the lithium industry. The expanded resource estimate will not only contribute to the local economy but also help meet the growing global demand for lithium. As the world transitions towards cleaner energy sources, developments like Boardwalk become increasingly important, and LithiumBank is poised to make a lasting impact.
For more detailed information on the Report, please refer to the Company’s website or contact LithiumBank’s Investor Relations team.
