Lithium Ionic initiates long-lead order; updates community engagement

Project’s first long-lead equipment order placed: Bandeira’s substation transformer TORONTO, June 11, 2026 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. ( TSXV: LTH; OTCQX: LTHCF; FSE: H3N ) (“Lithium Ionic” or the “Company”) is pleased to provide an update on development progress at its 100%-owned Bandeira Lithium Project (“Bandeira” or the “Project”), located in Minas Gerais, Brazil’s globally significant “Lithium Valley.” The Company has placed its first long-lead equipment order at Bandeira, securing the Project’s main substation power transformer, and confirms that overall project engineering has advanced to approximately 65% completion. The transformer order marks the start of long-lead procurement at Bandeira and an important step from engineering into execution. As one of the longer-lead items on the path to construction, ordering it now supports schedule certainty while the Company advances its broader procurement program and continues to refine the Project’s capital cost estimate.

Recent Progress First long-lead equipment order placed at Bandeira, securing the Project’s main substation power transformer from Brazilian manufacturer Blutrafos; Overall Engineering has advanced to 65% completion since the Feasibility Study (the “Study”) press release from September 17, 2025 ; Geotechnical drilling (1,352m) completed in the project area to support detailed engineering and design; Project capital cost estimate being updated as part of the ongoing detailed engineering work; Positive community engagement underway with more than 4,500 personnel hours spent in community engagement near Bandeira since late 2025; over 700 attendees have been engaged to date Blake Hylands, P.Geo., CEO of Lithium Ionic, commented, “Placing our first long-lead order is a tangible signal that Bandeira is moving from the drawing board into execution. With overall engineering now approximately 65% complete and geotechnical work and procurement advancing in parallel, we are steadily de-risking the Project and building momentum toward a construction decision. We’re also proud of the collaborative progress we’ve made with the community to-date and will continue to facilitate a productive dialogue.

We are grateful for the community enthusiasm in response to our engagement efforts.” First Long-Lead Order Placed for Bandeira’s Substation Transformer The Company has issued its first long-lead equipment order at Bandeira for the main power 138/13.8 kV transformer that will serve the Project’s internal substation, to be supplied by Brazil-based manufacturer Blutrafos. As one of the longer-lead items required ahead of construction, securing it now provides early certainty on a critical-path component and reflects the Company’s transition into the procurement and execution phase of the Project. Lithium Ionic expects to issue further updates as additional long-lead packages move through tendering and award.

Ongoing Community Engagement Lithium Ionic has invested significant time and resources in building relationships with the neighboring communities of the Bandeira Project. This engagement has been hands-on and community led. Through a series of in-person meetings and participatory workshops, residents have helped shape how the Project advances.

Lithium Ionic also held a series of impact assessment workshops with the community, facilitated by independent consultancy H&P. Through a structured, collective listening process, the workshops mapped impact perceptions associated with the Bandeira Project. On April 26, 2026, representatives from Lithium Ionic delivered an in-person presentation of the Bandeira Project to the community, a roughly three-hour session attended by 145 people.

The team walked through the project's operational aspects in plain, accessible language, discussed potential socio-environmental impacts alongside the measures planned to prevent and mitigate them, and gave community members space to ask questions and share their views throughout. At the gatherings, Lithium Ionic has contracted community members themselves to provide catering, transportation, photographic documentation, first aid, and activities for children, reflecting the Company's commitment to generating local benefit from the earliest stages of engagement. The Company intends to continue prioritizing local hiring, shared prosperity, and open dialogue with its neighbors as Bandeira moves toward construction.

On behalf of the Board of Directors of Lithium Ionic Corp.  Blake Hylands Chief Executive Officer, Director +1 647.316.2500 info@lithiumionic.com About Lithium Ionic Corp. Lithium Ionic is a Canadian lithium development company focused on responsibly advancing its 100%-owned Bandeira Lithium Project in Minas Gerais, Brazil, a region coined the “Lithium Valley” that is emerging as a world-class hard-rock lithium district. The Company is executing on a focused development strategy centered on engineering de-risking, permitting advancement, commercial planning, and construction readiness, with the goal of becoming a near-term producer of high-quality spodumene concentrate for global battery supply chains. Qualified Persons The contents of this news release have been reviewed and approved by Blake Hylands, P.Geo., CEO and director of Lithium Ionic, who is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Mr. Hylands is not considered independent of the Company. Cautionary Note Regarding Forward-Looking Statements This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information.

Forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained in this news release, includes, but is not limited to, the filing of the Required Filings and timing thereof, the outcome of recent regulatory proceedings, the Company’s ability to finance and develop the Bandeira project, the prospectivity and development of the Company’s mineral properties, the ability of the Company to become a near-term lithium producer and the Company’s future plans. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

The forward-looking information contained herein is made as of the date of this news release and is based on assumptions management believed to be reasonable, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved.

A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. Additional risk factors can also be found in the Company’s current MD&A, both of which have been filed under the Company’s SEDAR+ profile at www.sedarplus.ca. Readers are cautioned not to put undue reliance on forward-looking information.

The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. 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 or has in any way approved or disapproved of the contents of this news release.

Globe Newswire June 11, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com