Lithium Ionic Achieves Key Permitting Milestone with Approval of Final Exploration Reports for Bandeira and Outro Lado by Brazil’s National Mining Agency

TORONTO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) is pleased to announce important permitting milestones with the approval of the Final Exploration Reports (Relatório Final de Pesquisa - RFP) for its Bandeira and Outro Lado lithium properties by the Agência Nacional de Mineração (ANM), Brazil’s National Mining Agency.

Following the ANM's approval of these reports, the Company has successfully submitted the Mining Concession application and the Economic Viability Study (Plano de Aproveitamento Econômico - PAE) for the Bandeira property. The PAE provides a comprehensive assessment of the technical, economic, and environmental aspects of the mining project, detailing the efficient and responsible extraction of mineral resources. Achieving Mining Concession status will mark the final legal approval required to transition Bandeira from exploration to extraction and production.

The Company anticipates another major regulatory achievement in the coming months: the approval of the Licença Ambiental Concomitante (LAC), the environmental license that will permit the construction of the Bandeira Lithium Project. The LAC application was submitted in November 2023, and its approval is a prerequisite to the final granting of the Mining Concession.

Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “The approval of the Final Exploration Reports for our Bandeira and Outro Lado properties is an important milestone in advancing our projects in Brazil's Lithium Valley. These approvals validate the quality of our assets and accelerate our path towards becoming a near-term lithium producer. With the PAE and Mining Concession application now submitted for Bandeira, we are on track for the next key milestone - securing the LAC license, which will enable us to move forward with construction. We remain fully committed to advancing our projects responsibly, while helping to meet the increasing demand for lithium as Brazil strengthens its position in the global supply chain.”

The Bandeira and Outro Lado properties are strategically located in Minas Gerais, within the Lithium Valley, a region renowned for its world-class lithium deposits, robust infrastructure, and mining-friendly environment.

On behalf of the Board of Directors of Lithium Ionic Corp.

Blake Hylands
Chief Executive Officer, Director

About Lithium Ionic Corp.

Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in Brazil. Its Itinga group of properties, which hosts its flagship Bandeira Lithium Project, as well as its Salinas group pf properties cover ~14,000 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. The 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.

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 prospectivity and development of the Company’s mineral properties, the permitting process and timing thereof for the Company’s properties, the economic viability of Bandeira, the development plans and timing for the Company’s properties, the Company’s ability to obtain adequate financing 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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