LithiumBank Resources Corp. announced it has entered into an intellectual property license agreement on September 8th 2023 with G2L Greenview Resources Inc., a subsidiary of Go2Lithium Inc., whereby G2L shall grant to the Company a license (the "License") in Alberta and Saskatchewan for a full suite of continuous ion exchange technologies. The Direct Lithium Extraction technology will be used to extract lithium salts from enriched brines present at the ompany's lithium development projects.

G2L will also provide the Company with access to a deployment-ready pilot plant that has been previously operating in Australia. Modifications to the pilot plant are almost complete and it is expected to be shipped in October to Alberta. The pilot plant will have a nameplate throughput capacity of 8,000 to 10,000 L per day, making it one of the largest DLE pilot plants in North America.

Access to a dedicated DLE pilot plant will significantly accelerate the Company's test work program and provide the necessary design parameters for inclusion in feasibility studies for its Boardwalk, Park Place, and Saskatchewan lithium development properties. In consideration for the License, LithiumBank agrees to issue up to 14,000,000 common shares in the capital of the Company (the "Common Shares") at a deemed price per share of $1.22 to G2L upon the achievement of the following: 4,000,000 Common Shares, being approximately 8.63% of the issued and outstanding Common Shares on a non- diluted basis, upon receipt by the Company of acceptance by the TSX Venture Exchange (the "TSXV") of the License Agreement; 3,000,000 Common Shares upon there being an operational plant that has processed lithium brine for at least 100 hours of continuous operation in the province of Alberta (the "First Milestone"); 3,000,000 Common Shares if the Company does not deliver a notice to G2L advising G2L that it does not intend to use the Licensed Technology for the Boardwalk Brines Project (a "Notice to Terminate") by the date that is 12 months after the achievement of the First Milestone, provided that the Second Milestone Deadline may be extended for an additional six months if required to generate sufficient data from piloting to support a pre-feasibility study; and 4,000,000 Common Shares upon completion of a pre-feasibility study that concludes the Company's Boardwalk lithium brine project located in west-central Alberta, Canada (the "Boardwalk Brine Project") demonstrates an ungeared internal rate of return greater than the applicable discount rate used to value the Boardwalk Brine Project, If, following the achievement of the First Milestone, a Notice to Terminate is delivered by the Company by the Second Milestone Deadline, the License shall automatically terminate and no further Consideration Shares shall be issuable. Subject to certain exceptions, the Consideration Shares shall not be sold or otherwise disposed of by G2L for a period of 12 months following the effective date of the License Agreement.

If the issuance of any portion of the Consideration Shares would result in G2L holding in excess of 19.9% of the total issued and outstanding Common Shares on a partially diluted basis, such issuance will be subject to prior shareholder approval in accordance with TSXV policies. Unless mutually agreed to between the Company and G2L, if the Company fails to obtain any such requisite shareholder approval, the License Agreement may be terminated by G2L. Upon achievement of the First Milestone, and so long as G2L holds at least 10% of the total issued and outstanding Common Shares on a non-diluted basis, G2L may appoint an observer to the board of directors of the Company (the "Board") or nominate a director to be elected to the Board.

The Company has also agreed to establish a technical committee consisting of two members appointed by each of the Company and G2L. The License Agreement and the issuance of the Consideration Shares remains subject To Approve the TSXV. In connection with the License Agreement, the parties have entered into a technology services agreement which provides for, amongst other things, the sourcing and supply of materials and reagents (including resins) used for test work and piloting by G2L to the Company.