From GlobeNewswire: 2025-05-06 07:00:00

Lithium Ionic Corp announces updated mineral resource estimate for Bandeira Lithium Project in Brazil, showing significant growth and resource conversion. Measured and Indicated MRE of 27.27Mt grading 1.34% Li₂O, containing 901,059 tonnes of LCE; additional Inferred MRE of 18.55Mt grading 1.34% Li₂O, or 615,432 tonnes of LCE. The updated MRE reflects a 30% increase in tonnage compared to the previous Feasibility Study. The Company plans to integrate the new MRE into an updated Feasibility Study expected in the second half of 2025.

The Bandeira Project’s updated mineral resource estimate is based on 297 drill holes (60,301 meters) drilled between April 2022 and September 2024. The MRE maintains consistent grade while expanding tonnage, demonstrating strong continuity and growth potential. The updated MRE increases the global mineral resources to 36.76Mt grading 1.31% Li₂O in the M&I category, in addition to 31.87Mt grading 1.19% Li₂O in the Inferred category. The Company is pleased with the progress and potential of the Project.

Carlos Costa, Lithium Ionic’s VP of Exploration, expresses pride in the Project’s growth, highlighting the team’s achievements. The Project has evolved into one of the largest spodumene-rich pegmatite deposits in the region since exploration began in April 2022. The Company has established NI 43-101 compliant mineral resource estimates at two additional properties within the “Lithium Valley,” bringing the consolidated global mineral resource base to 36.76Mt in the Measured and Indicated category, in addition to 31.87Mt in the Inferred category.

The Company plans to integrate the expanded MRE into an updated Feasibility Study in the second half of 2025. The Feasibility Study announced on May 29, 2024, outlined strong project economics, including a post-tax NPV8% of US$1.31 billion and an IRR of 40%. The Feasibility Study remains valid and will be part of the forthcoming Technical Report. The Company engaged RTEK International DMCC on April 2, 2025, to assist with the transition from feasibility to construction and operations.

The mineral resource estimate for the Bandeira Project was prepared by Carlos Silva P.Geo., M.Sc., of GE21, with an effective date of November 20, 2024. The MRE was based on geological interpretations, geostatistical studies, and best practices in mineral estimation. The MRE is classified as Measured, Indicated, and Inferred Mineral Resource based on data quality, sample spacing, and pegmatite continuity. The updated MRE reflects the Project’s potential for eventual economic extraction and scalability.

Carlos José Evangelista Silva, MSc Geo., of GE21, is a Qualified Person and has reviewed and approved the technical information regarding the MRE. Other scientific and technical information in the news release has been reviewed and approved by Carlos Costa, Vice President Exploration, and Blake Hylands, CEO and director of Lithium Ionic. The Company is exploring and developing its lithium properties in Brazil, focusing on the Itinga and Salinas projects in Minas Gerais state. The Company plans to produce a NI 43-101 compliant mineral resource estimate and a Feasibility Study for the Bandeira Project.



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