TORONTO, June 09, 2025 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (the "Company" or "Lithium Ionic") reports that it has filed the independent NI 43-101 compliant technical report for its 100%-owned Bandeira Lithium Project ("Bandeira" or the "Project") in Minas Gerais State, Brazil, related to the updated Mineral Resource Estimate ("MRE") for the Project announced on May 6, 2025.
The technical report, titled "Bandeira Lithium Project NI 43-101 Technical Report Mineral Resource Update, Aracuai-Itinga, Minas Gerais, Brazil" was prepared by GE21 Consultoria Mineral Ltda. ("GE21"), AtkinsRéalis, L&M Advisory and Planminas in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and has an effective date of November 20, 2024. The MRE was prepared by GE21.
The report details the MRE comprising Measured and Indicated resources of 27.27 million tonnes ("Mt") grading 1.34% Li2O (901,059 tonnes of lithium carbonate equivalent - "LCE") and an additional 18.55Mt in the Inferred category grading 1.34% Li2O (615,432t LCE). An updated Feasibility Study to integrate this expanded MRE is underway and expected in H2 2025.
This updated Bandeira MRE increases the Company's consolidated, global mineral resources to 36.76 Mt grading 1.31% Li2O in the M&I category, in addition to 31.87 Mt grading 1.19% Li2O in the Inferred category.
Bandeira covers 158 hectares, less than 1% of Lithium Ionic's 17,000-hectare land position, but has rapidly advanced to become one of the most promising lithium development-stage assets in Brazil. It is located adjacent to Sigma Lithium's Grota do Cirilo and Barreiro projects and directly beside Companhia Brasileira de Lítio's (CBL) long-standing underground lithium operation.
The technical report is available on SEDAR+ (www.sedarplus.ca) under Lithium Ionic's issuer profile and on the Company's website at www.lithiumionic.com.
*See press release dated January 14, 2025, for details related to the Baixa Grande MRE (effective date of December 2, 2024; QP: Leonardo Soares, P.Geo., M.Sc., of GE21), and the NI 43-101 compliant technical reports related to the Outro Lado deposit titled "Mineral Resource Estimate for Lithium Ionic, Itinga Project" (effective date of June 24, 2023; authored by Maxime Dupéré, B. Sc., P.Geo. and Faisal Sayeed, B. Sc., P.Geo).
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in Brazil. Its Itinga and Salinas group of properties cover ~17,000 hectares in the northeastern part of Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world-class hard-rock lithium district. Its Feasibility-stage Bandeira Project is situated in the same region as CBL's Cachoeira lithium mine, which has produced lithium for +30 years, as well as Sigma Lithium Corp.'s Grota do Cirilo project, which hosts the largest hard-rock lithium deposit in the Americas.
Qualified Persons
Carlos José Evangelista Silva, MSc Geo. (MAIG membership number 7868), of GE21 is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical information and data regarding the MRE included in this news release. Mr. Silva is independent of Lithium Ionic. All other scientific and technical information in this news release has been reviewed and approved by Carlos Costa, Vice President Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic, and both are "qualified persons" as defined in NI 43-101.
On behalf of the Board of Directors of Lithium Ionic Corp.
Blake Hylands
Chief Executive Officer, Director
Investor and Media Inquiries:
+1 647.316.2500
info@lithiumionic.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the mineralization and prospectivity of the Company's mineral properties including the Project, the Company's ability to obtain the requisite licences and permits, the Company's ability to obtain adequate financing, the exploration and development of the Company's mineral properties, the Company's exploration program and other mining projects and prospects thereof and the Company's future plans. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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