LithiumBank Resources Corp. has received $760,000 from Emissions Reduction Alberta following the successful completion of the first milestone under its funding agreement for the Boardwalk lithium brine project in northwest Alberta.

The payment covers $894,093.94 in approved eligible expenditures for the opening milestone, after accounting for a 15% holdback of $134,114.09 retained by Emissions Reduction Alberta in accordance with the funding terms. The modified program qualified for the reimbursement of 50% of eligible expenditures up to $1.6 million, leaving the total program allocation at $3.9 million.

The initial milestone involved collecting approximately 150 cubic metres of brine from the 10-6 well at Boardwalk between March 21 and April 8, 2026. The bulk sample is currently being used for long-cycle direct lithium extraction, polishing process optimization, and conversion to battery-grade lithium carbonate. The operational program also successfully gathered additional hydrogeological data and installed a downhole pressure monitor in the well to track pressure changes during future flow testing.

Successfully completing the opening phase allows the remaining funding allocation from the overall $3.9 million program to be directed toward the third milestone. That upcoming stage entails completing a feasibility study and front-end engineering design assessing a low-capital-expenditure, modular approach to lithium production at Boardwalk.

Trading volume on 10 August 2026 reached 289% of the 50-day average of 50,869 shares.

Read the full announcement: LithiumBank Receives First Tranche of Funding from Emissions Reduction Alberta Following Completion of Milestone 1 at Boardwalk