Lithium Corporation

What they do

Lithium Corp is an exploration-stage company engaged in project generation, staking, and initial exploration of mineral properties. Its most notable properties are the San Emidio lithium-in-brine property and the North Big Smoky lithium-in-brine property, both in Nevada. The company also holds claims on the BC Sugar flake graphite prospect and the Yeehaw Titanium/Rare Earth Element prospect in British Columbia. It has no producing mines and has not established any mineral reserves.

Revenue drivers

• No current revenue — The company has generated $0 revenue for all reported years from 2021 through 2025 and through the quarter ended June 30, 2026.
• Exploration-stage properties — Potential future value could come from option agreements and joint ventures on its properties, such as the Fish Lake Valley agreement with Morella Corporation, but no income is currently derived.

Recent performance

For the year ended December 31, 2025, Lithium Corp reported a net loss of $495,801, improved from a net loss of $964,597 in 2024. The decrease was primarily due to a gain in fair value of marketable securities and lower exploration expenses, partially offset by higher consulting and professional fees. Operating expenses fell to $648,322 from $753,425. As of June 30, 2026, the company had cash and equivalents of $2.2 million, total assets of $2.5 million, total liabilities of $2.6 million, and a shareholder deficit of $57,503.

Strategy

Management's stated focus is to conduct exploration on its properties in British Columbia and the San Emidio property in Nevada, while generating other energy metals related projects. The company plans to review third-party exploration projects as presented. It expects to spend approximately $700,000 over the next twelve months, including $200,000 on exploration and $230,000 on employee and consultant compensation. The company may seek additional financing, which could cause dilution to existing shareholders.

Risks

• No established reserves — All properties are exploration-stage; the company has not established any mineral reserve, and any funds spent on exploration could be lost.
• Going concern uncertainty — Recurring losses and negative working capital position (shareholder deficit of $57,503 as of June 30, 2026) raise substantial doubt about the company's ability to continue as a going concern.
• Dependence on related-party optionee — Morella Corporation, the company's largest shareholder with over 8% ownership, holds an option on the North Big Smoky property, and a related-party arrangement could create conflicts of interest.
• Financing risk — The company may need to raise additional capital, but there is no assurance that financing will be available on commercially reasonable terms; if unavailable, the company may have to scale down or cease operations.

Outlook

Over the next twelve months, management plans to spend approximately $700,000, mainly on general and administrative expenses, exploration, and compensation. The company expects to continue exploration on its British Columbia properties and the San Emidio property, while reviewing other projects. However, the company's continuation depends on obtaining further financing and achieving profitable operations, for which there are no guarantees.