CSAMT Geophysical Survey For San Emidio Brine Property

ELKO, NV - Lithium Corporation has retained KLM Geoscience, LLC of Las Vegas to conduct an initial Phase I Controlled Source Audio-frequency Magnetotelluric (CSAMT) Survey on the Company's 4,728 acre (1,441 hectare) San Emidio lithium-in-brine prospect in Washoe County, Nevada. The property had been under a Joint Venture agreement since September 2021, however our Joint Venture partner recently indicated they want to focus their efforts elsewhere, and hence let the agreement lapse. While we are disappointed the arrangement is being discontinued, the Company views this as a great opportunity to move this exciting property forward on the continuum towards development.

Lithium Corporation identified the San Emidio lithium-in-brine property in the early 2010's through geochemical prospecting, ultimately seeing values as high as 80 mg/L lithium (Li) in near-surface brines. The Company conducted a gravity geophysical survey and followed that up with direct push drilling in 2012 that outlined a lithium-in-brine anomaly at moderate depths (up to 124'/38 m subsurface), returning values as high as 23 mg/L Li. Lithium Corporation permitted the property for a deeper drill program but focus on other properties, an earlier option agreement, and two subsequent downturns in the price of Lithium precluded initiating the drill program. In order to return the property back on track, it was decided a CSAMT survey would be a perfect complement to our existing database and a great aid in determining what sites will be permitted for drilling once the survey is complete, and the data compiled and interpreted. KLM, the contractor, indicated they will commence the survey in early November.