LithiumBank closes upsized private placement

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.