Lithium Ionic Reports Widest and Highest-Grade Lithium Intercept to Date; Drills 1.72% Li2O Over 53.7m, incl. 1.87% Li2O over 39.5m at Bandeira, Minas Gerais, Brazil

TORONTO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) (“Lithium Ionic” or the “Company”) is pleased to report assay results for 15 drill holes from its Feasibility-stage Bandeira Lithium Project (“Bandeira”), situated in northern Minas Gerais State, Brazil, in the lithium-rich Araçuaí Pegmatite District, also known as the Lithium Valley, where two lithium producers currently operate. The Company has recently completed the planned 50,000-metre drill program it had set out for H2 2023 at its Itinga and Salinas group of properties, however drilling is ongoing at select targets, including Bandeira, focusing on expanding and upgrading existing mineral resources in advance of a Feasibility Study, on track for completion in early 2024.