Calgary, Alberta--(Newsfile Corp. - August 28, 2026) - LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) ("LithiumBank" or the "Company") is pleased to announce that further to its news release dated August 27, 2026, the Company has upsized and closed its previously announced non-brokered private placement of units of the Company ("Offered Units") at an issue price of $0.60 per Offered Unit (the "Offering"). Due to strong investor demand, the Offering was increased from 9,000,000 Offered Units to the issuance of 9,206,830 Offered Units for gross proceeds of $5,524,098.

Each Offered Unit consists of one common share in the capital of the Company (a "Share") and one non-transferable common share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.90.

The Company intends to use the net proceeds of the Offering towards completion of a feasibility study at its Boardwalk Lithium Brine Project in northwest Alberta and for general working capital purposes.

In connection with the Offering, the Company (i) paid to Ventum Financial Corp. and EMD Financial Inc. cash finders' fee of $43,938, and (ii) issued to 73,229 finders' warrants ("Finders' Warrants"). Each Finders' Warrant is exercisable into one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.60.

The Offering remains subject to final approval of the TSX Venture Exchange ("TSXV"). All securities issued in connection with the Offering are subject to a four-month hold period from the date of issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

None of the securities sold under the Offering have been or will be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

In connection with the Private Placement, certain directors and officers of the Company, (the "Interested Parties") participated in the Private Placement by purchasing an aggregate of 363,000 Offered Units (the "Insider Subscriptions") for $217,800 (representing approximately 3.9% of the proceeds from the Private Placement). The Insider Subscriptions constituted a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Notwithstanding the foregoing, the directors of the Company have determined that the Interested Parties' participation in the Private Placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report was not filed more than 21 days prior to closing of the Private Placement because the details of the Private Placement and the Insider Subscription therein had not been confirmed at that time.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSXV: 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. These projects host some of the largest lithium brine resources in North America. The Company holds 1,240,140 acres of brown-field brine hosted mineral licenses across three districts in Alberta and Saskatchewan. The Company has pilot tested multiple mature Direct Lithium Extraction ("DLE") technologies and has signed a Development Agreement with SLB to bring the Boardwalk project into production. This agreement includes binding DLE licensing terms with SLB to provide an energy efficient, cost-effective and commercially viable end-to-end lithium brine solution. The Company is now working toward establishing commercial lithium production by leveraging existing brownfield infrastructure and a modular scale-up approach.

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 Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. 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", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the intended use of the net proceeds raised under the Offering; the completion of the feasibility study at the Company's Boardwalk Lithium Brine Project; the Company's plans to establish commercial lithium production by leveraging existing brownfield infrastructure and a modular scale approach; and the receipt of final regulatory approval from the TSXV.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain final TSXV approval for the Offering; the inability of the Company to utilize the anticipated proceeds of the Offering as anticipated; market uncertainty; changes in the Company's business plans impacting the intended use of proceeds raised under the Offering; the potential for delays in exploration, development, permitting, and assembly activities at the Company's projects; the risk that the feasibility study at the Company's Boardwalk Lithium Brine Project will not be completed as anticipated or will not produce results consistent with the Company's expectations; the Company's ability to establish commercial lithium production as anticipated, including by leveraging existing brownfield infrastructure and a modular scale-up approach; risks related to commodity price and foreign exchange rate fluctuations; the cyclical nature of the industry in which the Company operates; risks related to global financial markets, including the trading price of the Company's shares and the Company's ability to raise capital may also result in additional and unknown risks or liabilities to the Company.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation: the Company will obtain final TSXV approval for the Offering; the Company will use the proceeds of the Offering as currently anticipated; the feasibility study and other development activities at the Boardwalk Lithium Brine Project will proceed as anticipated; and the Company will be able to advance its plans toward establishing commercial lithium production by leveraging existing brownfield infrastructure and a modular scale-up approach;

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 outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312023

Source: LithiumBank Resources Corp.