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Itinga Project

Lithium Ionic's wholly-owned Itinga Project is located in an under-explored region in southeast Brazil that currently contains 100% of the country's official lithium reserves.

Situated 25 km east of the municipality of Araçuaí in the state of Minas Gerais, the Project spans approximately 7,700 hectares in this prolific lithium province.

The region is home to other notable lithium projects, including the Companhia Brasileira de Lítio's (CBL) Cachoeira mine, which has been producing lithium since 1993; Latin Resources' expanding Salinas lithium Project; and near-term lithium producer Sigma Lithium's Grota do Cirilo project.

Itinga Project

Lithium Ionic's flagship Itinga Project is located in the state of Minas Gerais, Brazil's most mining-friendly state in the country's southeast region. The wholly-owned properties are situated approximately 25 km east of the town of Araçuaí (population of ~40,000) and 594 km northeast of Belo Horizonte, the state capital.

Covering approximately 7,700 hectares, the mineral licenses are located in the municipalities of Araçuaí and Itinga. The Company's two main exploration targets, Bandeira and Galvani, are located in proximity to Sigma Lithium Corp.'s large Barreiro and Xuxa lithium deposits and Companhia Brasileira de Lítio's (CBL) lithium-producing Cachoeira mine, which is currently Brazil's only lithium producer. Sigma Lithium is expected to produce lithium in 2023.

Lithium Ionic is actively drilling at its properties and remains on track to deliver an inaugural NI 43-101 compliant mineral resource estimate in the first half of 2023. The Company aims to define a resources of approximately 20 million tonnes at ~1.5% Li2O.


Priority Targets: Bandeira & Galvani

Lithium Ionic has been the most active at its Bandeira and Galvani properties, where a 30,000-metre drilling program is currently underway.

At Bandeira, the Company is targeting mineralization near the surface associated with a 1.3 km lithium soil anomaly located 800 metres south of the CBL lithium mine.

Assay highlights from Bandeira include:

The Galvani claims were acquired in September 2022. The two mineral licenses are located approximately 2 km west of Sigma's large Xuxa lithium deposit and 3 km northwest of CBL's lithium mining operation. Mineralized pegmatites have already been identified over a ~1km trend and are currently being drilled to define their size and extent.

Assay highlights from Galvani include:

Area 2

Area 2 is located southeast of the Bandeira property. Significant lithium soil anomalies are planned to be drilled in 2023, one of which has a strike length of 1.4 km and contains lithium concentrations of up to 391 ppm.

Area 3

Lithium soil anomalies have been identified on the Area 3 claim as well, which is located southwest of Bandeira. The largest anomaly has a strike length of 1.6 km and contains lithium concentrations between 39 and 90 ppm.

Area 4

Area 4, located northeast of Bandeira, consists of andalusite-cordierite-mica schists, metawackes, and calc-silicate rocks.

Area 5

Area 5, which is situated south of Bandeira, has revealed soil anomalies as well. Further exploration has yet to begin.

Borges & Clesio Claims

The Borges 1, 2, and 3 claims consisting of 1,527 hectares were acquired in December 2022.

The claims are located near Areas 4 and 5, along the trending region in the Itinga pegmatite field where there are known lithium deposits, including Sigma Lithium's Xuxa and Barreiro deposits.Several pegmatite occurrences have been identified and the Company has planned systematic exploration to investigate these.

The Clesio claims cover approximately 1,000 hectares and were acquired in February 2023. The Company believes there's excellent potential to identify mineralized pegmatites on the Clesio claim, given it is on trend with nearby world-class lithium deposits.

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