LITHIUM CORPORATION EXPANDS FISH LAKE VALLEY PROSPECTElko, NV –...

LITHIUM CORPORATION EXPANDS FISH LAKE VALLEY PROSPECT

Elko, NV – July 6th, 2021 – Lithium Corporation (OTCQB:LTUM) (“LTUM” or “the Company”), a North American corporation focused on energy metals for the growing energy storage sector and high-tech industries, wishes to announce the Company has increased the size of its land holdings at Fish Lake Valley, and agreed to extend the due diligence period under the Letter of Intent (LOI) with Altura Mining Limited (ASX:AJM) whereby Altura may earn a 60% interest in the Company’s Fish Lake Valley lithium-in-brine prospect in Esmeralda County, Nevada.

Over the past several months, LTUM has been gradually expanding the size of the Fish Lake Valley prospect. Currently, the Company’s holdings here are 6,873 acres (2,781 ha’s), up considerably from the beginning of the year holdings of 1,440 acres (523 ha’s). The land package has been expanded to cover areas identified earlier as possibly also prospective for hosting lithium brine resources, similar to the main zone.

As outlined in earlier press releases, Lithium Corporation signed an LOI with Altura Mining Limited whereby Altura will earn a 60% interest in the Fish Lake Valley prospect by conducting $2,000,000 worth of exploration work on the property, and paying LTUM $575,000 and issuing $400,000 worth of Altura common shares in staged payments over the next four years. While Altura has fulfilled all obligations under the LOI to date, they requested the due diligence period under the agreement be shifted from July 31st to August 31st. The need to do so is the result of Australian reporting requirements. Given Lithium Corporation’s long-standing relationship with Altura, the Company is happy to accommodate the request and aid in any way possible. In the meantime, work progresses on the formal agreement governing the earn-in, and the parties have been in talks as to how best move the prospect forward once the formal agreement is in place.