Additional Infill Results From Bandeira

TORONTO - Lithium Ionic Corp. reported additional infill results from Bandeira, as well as exploration drill results from Salinas. These are two of four targets presently being drilled within the Company’s large portfolio of properties which cover 14,182 hectares within the “Lithium Valley” district, an emerging, prolific hard rock lithium-producing region in northern Minas Gerais State, Brazil. These results form part of a large 50,000-metre drill program underway for H2 2023, with 13 drills currently operating.

Bandeira Drill Intercept Highlights: 1.63% Li2O over 11.2m (hole ITDD-23-139); 1.39% Li2O over 11.9m (hole ITDD-23-145); 1.57% Li2O over 8.9m (hole ITDD-23-146); 2.01% Li2O over 6.0m and 1.53% Li2O over 6.3m (hole ITDD-23-147); and 1.71% Li2O over 6.0m (hole ITDD-23-155).

Salinas Drill Intercept Highlights: 1.21% Li2O over 6.0m and 1.23% Li2O over 3.0m, within a broader intersection of 0.92% Li2O over 17.1m (hole BGDD-23-046); 1.30% Li2O over 7.0m (hole BGDD-23-047); 1.05% Li2O over 7.0m (hole BGDD-23-039); and 1.43% Li2O over 4.3m (hole BGDD-23-034)

Blake Hylands, P.Geo., Chief Executive Officer, said, “The infill drill program at Bandeira is progressing well and we are encouraged to see mineral continuity and consistent grades that we believe will bode well for our upcoming mineral resource update and engineering study. While still in the relatively early stages of exploration, Salinas continues to show positive progress and promising results that underscore the prospectivity of the area. Our team feels strongly about its potential as we continue to advance our understanding of the region with ongoing interpretation and modelling of new data from drilling, surface sampling and geophysics, which will only improve future targeting of our drilling.”