LithiumBank Resources Corp. has entered into a binding option agreement to acquire 160 acres of privately owned land in the Sturgeon Lake area of Alberta to serve as a central processing hub for its Boardwalk lithium brine project. The company has secured a three-year window, starting from the effective date of July 30, 2026, to exercise its right to purchase the property.

The selected 160-acre parcel is situated within a designated 320-acre area and offers significant logistical advantages. The site is located approximately 800 metres from Highway 43 and is accessible via a paved township road. Critically, the property is already serviced by a 138-kilovolt power transmission line, while an active natural gas pipeline crosses the southern portion of the land. The proximity to these utilities, combined with access to brine extraction infrastructure previously outlined in a separate letter of intent, is intended to reduce the capital requirements compared to building greenfield infrastructure.

LithiumBank plans to utilize the land to house a centralized direct lithium extraction (DLE) processing facility. By consolidating the processing infrastructure at this location, the company aims to optimize the project’s technical design. The practical implications of securing this control will be integrated into the ongoing Boardwalk Feasibility Study, which is scheduled for completion in 2027.

The transaction remains subject to the completion of due diligence, the finalisation of definitive documentation, and the receipt of necessary regulatory approvals. While the option provides a clear pathway for the facility’s development, there is no guarantee that the option will be exercised or that the transaction will successfully complete.

“This option represents another important step in advancing Boardwalk toward commercial development. Securing control of a potential processing site early in the development process allows us to optimize project design, preserve optionality and continue de-risking one of North America's largest lithium brine development projects.”

— Rob Shewchuk, CEO

Separately, the company disclosed that it has granted 360,000 incentive stock options to the newly appointed Vice President of Project Development, Mr. Harris. These options are exercisable at $0.43 per share, carry a five-year expiry to July 15, 2031, and are subject to a two-year vesting schedule comprising equal quarterly instalments.

Read the full announcement: LithiumBank Signs Binding Option Agreement on Strategic Land for Central Processing Facility at Boardwalk Lithium Brine Project