LithiumBank Resources Corp. announced it has signed a Memorandum of Understanding (MOU) with Invest Alberta to support the development of a commercial lithium production facility at the Company's Boardwalk brine project (the Boardwalk Project or Boardwalk) located 85 kilometres east of Grand Prairie, Alberta. Under the agreement, Invest Alberta has agreed to support LithiumBank by promoting the project domestically and internationally, facilitating relationships with key stakeholders and senior government officials, and connecting the Company with post-secondary institutions to create a qualified talent pipeline.

The agreement has the potential to create high paying employment opportunities in Alberta and to solidify the provinces position as a supporter of the clean energy sector. Invest Alberta is a great example of why believe Alberta is one of the best locations in the world to develop critical mineral resources and electrification supply chains, commented LithiumBank Executive Chairman Paul Matysek. This Memorandum of Understanding is an important step for LithiumBank as aim to make Alberta and Canada global leaders in lithium resource development.

Invest Alberta's support is expected to accelerate the creation of new green energy jobs that can help Alberta capitalise on the era of electrification and decarbonization. unlocking the potential of Alberta's lithium resources creates new opportunities for innovation, investment, and jobs that are expected to benefit the local economy and the global community, said Rick Christiaanse, Invest Alberta CEO. LithiumBank's commercial lithium production facility in northern Alberta marks a significant step for Alberta as a destination of choice for critical mineral resource development and as a key partner in the electrification supply chain.

LithiumBank's economy has momentum and LithiumBank wants to be a part it. Connect LithiumBank with Alberta's post-secondary institutions to create an talent pipeline in support of the Project; and Communicate LithiumBank's commitment to the Project and its positive impact for Alberta. In line with the Company's development goals, LithiumBank intends to: Expand its operations in Alberta; Continue developing and funding the Project with the objective of having the complex operational by 2027; and Begin the process of locating and hiring employees in Alberta, with an objective of hiring 25 full-time employees within 18 months.