LTMCF - Lithium Chile Announces Results from Its Recent Laguna Blanca Lithium and Cesium Sampling Program

(TheNewswire)

CALGARY, ALBERTA – TheNewswire - March 2, 2021 – Lithium Chile Inc.(“Lithium Chile” or the “Company”) (TSXV: LITH) (OTC:LTMC) is pleased to announce assay results from the Company’srecently completed follow up exploration program on its Salar deLaguna Blanca and completion of the reconnaissance TEM geophysicalsurvey at Salar de Los Morros.

SALAR de LAGUNA BLANCA SAMPLINGHIGHLIGHTS:

• - Initial assays from surface brine samples in thefollow up grid area assayed 1035 – 1230 mg/l lithium plus 13500 –15200 mg/l potassium.

  - Cesium assays from these brines were higher than thedetection limit of the analytical technique used and are being reassayed.

  - Initial sediment sample assays define a 4+ km sq areaenriched in cesium ranging from 75 – 690 ppm and averaging 240 ppmwhich is open to expansion to the NW, NE and SE.

SALAR de LOS MORROS TEM PROGRAM:

The Company announces that its reconnaissance TEMgeophysical survey at its Los Morros lithium property was completedFebruary 25 th with results expected mid-March.  The TEM survey isintended to define locations for three exploration holes which theCompany will file for permission to drilling immediately afterreviewing the TEM survey results.

Steve Cochrane President and CEO comments: “We arevery encouraged by the results we see from our expanded Laguna Blancaexploration program. We continue to see very high grades of lithiumfrom the brine sampling but also Cesium values above the cutoff limitswithin the current 4+ km sq anomaly identified to date. This onceagain highlights the advantage of having a number of targets over adiverse portfolio of prospects.”

TERRY WALKER VP EXPLORATION PROVIDESSALAR de COIPASA UPDATE

Due to COVID-19 the courts in Chile are stillrestricted to handling serious crime and emergency health and welfarecases. The court had previously stated they would grant Lithium Chilethe right of access to carry out our proposed drill program atCoipasa. The amount of financial compensation the Company is obligatedto pay to the local indigenous community, who holds title to thesurface rights, is determined by the courts.  Pre-COIVID-19, LithiumChile was required to have a court certified assessor visit theproperty and evaluate its commercial value as part of saidcompensation award process. Unfortunately, the court had not set thecompensation award before the COVID-19 restrictions were imposed butit is expected to be under review in March.

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo., qualified personwithin the meaning of National Instrument 43-101, has reviewed andapproved the contents of this news release. Individual brine sampleswere collected by experienced Lithium Chile staff using a double valvebailer system, placed in sterile 250 ml vials that were sealed andtagged on site. Individual sediment samples were also collected byLithium Chile staff using a 1.3m hand auger, placed in sample bagswhich were tagged and sealed on site. All samples were transported byLithium Chile staff to ALS Patagonia Laboratories, La Serena, Chile,where they were prepared and the brine samples subsequently shipped to ALS’s Vancouver, Canada laboratoryand the sediments samples to ALS´s Lima, Peru where the analysis wereperformed.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolioconsisting of 71,900 hectares covering sections of 10 salars and twolaguna complexes in Chile.

Lithium Chile also owns 5 properties that areprospective for gold, silver and copper. Exploration efforts arecontinuing on Lithium Chile’s Carmona gold/silver/copper propertywhich lies in the heart of the Chilean mega porphyry gold/silver/copper belt.

Lithium Chile’s common shares are listed on the TSX-Vunder the symbol " LITH ” and on the OTC-BB under the symbol“ LTMCF ”.

To find out more about Lithium Chile Inc., pleasecontact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca oralternately, Terry Walker, VP Exploration at (011) 562 2455-6473 orvia email: twalker@chilelithium.cl .

NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

NOT FOR RELEASE INTHE UNITED STATES OF AMERICA

Forward Looking Statements

This news release may contain certain forward-lookinginformation and forward-looking statements within the meaning ofapplicable securities legislation (collectively "forward-lookingstatements"). Generally, forward-looking information can beidentified by the use of forward-looking terminology such as"expects", "believes", "aims to","plans to" or "intends to" or variations of suchwords and phrases or statements that certain actions, events orresults "will" occur. In particular, this news releasecontains forward-looking statements relating to prior assay results,exploration activities, and expressions of interest and whether thePrivate Placement is fully subscribed.

You are cautioned that the following list of materialfactors and assumptions is not exhaustive. Specific material factorsand assumptions include, but are not limited to: the general stabilityof the economic and political environment in which the Companyoperates; the timely receipt of required regulatory approvals; theability of the Company to obtain future financing on acceptable terms;currency, exchange and interest rates; operating costs; the successthe Company will have in exploring its prospects and the results fromsuch prospects. Accordingly, readers should not place undue relianceon forward-looking statements. The Company does not undertake toupdate any forward-looking statements herein, except as required byapplicable securities laws. All forward-looking statements containedin this news release are expressly qualified by this cautionarystatement.

Copyright (c) 2021 TheNewswire - All rights reserved.