LITH:CC - Lithium Chile Awarded CEOL, Securing Exclusive Rights for Lithium Development on the Coipasa Salar, Chile
(TheNewswire)
TSX Venture Exchange: LITH
CALGARY, ALBERTA – TheNewswire - April 23, 2025 – Lithium Chile Inc . (“ LithiumChile ” or the “ Company ”) ispleased to announce that through its 100%-owned Chilean subsidiary,Kairos Inversiones SPA, together with its 50% joint venture partner,Grupo Errázuriz (“ Grupo ”), it has been officially awarded aSpecial Lithium Operation Contract (Contrato Especial de Operación deLitio, or “ CEOL ”) by the Government of Chile — marking the first time inChile’s history that exclusive rights to explore, develop, andproduce lithium have been granted under Chile’s newly constitutednational lithium strategy. The CEOL has been awarded on theCompany’s Coipasa salar located in northern Chile.
Issued under Resolution Exenta No. 862, the CEOL marksa historic achievement for the Company and its partner, who are one ofonly three private-sector groups—alongside Eramet and theEramet-Codelco-Quiborax consortium—to have been awarded CEOLs. Thenational lithium strategy introduced by President Gabriel Boric wasdesigned to expand Chile’s role in the global lithium supply chainthrough state-supported public-private partnerships that prioritizeenvironmental stewardship, technical excellence, and meaningfulengagement with indigenous communities. Lithium Chile is honored to beamong the first participants in this transformative initiative to takethis critical step toward unlocking the significant lithium potentialof the Salar de Coipasa with a commitment to sustainable explorationand development.
Steven Cochrane, President and CEO of Lithium Chilecommented: “This CEOL awardis a foundational step for Lithium Chile and our partner, GrupoErrázuriz. We are pleased that the Chilean government has confidencein our ability to develop the Coipasa project responsibly andeffectively. We are proud to be one of the few companies—amongworld-class mining peers—selected to participate in this projectwhich marks a new era of lithium development in Chile. Coipasa, beingone of only three projects awarded out of more than 80 expressions ofinterest submitted just 10 months ago, makes this achievement evenmore meaningful.”
The CEOL provides the joint venture with the legal andoperational framework to advance the development of the Coipasa salar,one of Chile’s most prospective salt flats. Project activities willbe carried out in close coordination with local stakeholders and inaccordance with the agreements established during the community andindigenous consultations, which will commence immediately.
It is important to note that the Government of Chilerequired applicants to demonstrate, among other criteria, ownership orcontrol of the mining concessions and technical expertise in lithiumexploration and development. Lithium Chile and its partner GrupoErrázuriz, satisfied these criteria. More details regarding the CEOL,project development plans, and next steps will be announced as theybecome available.
ABOUT GRUPO ERRÁZURIZ
Grupo Errázuriz is a leading Chilean conglomerate witha strong track record across 15 sectors, including mining, realestate, agriculture, and finance. The group is known for its strategicleadership and commitment to innovative, sustainable development inChile.
ABOUT LITHIUM CHILE
Lithium Chile Inc. is an exploration company with aportfolio of 11 properties spanning 107,936 hectares in Chile and29,245 hectares on the Salar de Arizaro in Argentina. The Company hassuccessfully advanced its Arizaro project with the completion of an NI43-101 compliant Resource Report, a Preliminary Economic Assessmentand then a Prefeasibility Study, all of which are accessible onSedarPlus.ca under Lithium Chile’s profile.
Lithium Chile’s common shares are listed on the TSX-Vunder the symbol “LITH” and on the OTCQB Under the symbol“LTMCF”.
To find out more about Lithium Chile, please contactSteven Cochrane, President and CEO via email: steve@lithiumchile.ca or MichelleDeCecco, COO via email: michelle@lithiumchile.ca or phone: 587-393-1990.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE.
FORWARD LOOKING STATEMENTS AND RISKFACTORS:
This news release may contain certain forward-lookinginformation and forward-looking statements within the meaning ofapplicable securities legislation (collectively "forward-lookingstatements"). Generally, forward-looking statements can beidentified using forward-looking terminology such as"expected", "anticipated", "aims to","plans to" or "intends to" or variations of suchwords and phrases or statements that certain actions, events orresults "will" occur. Such forward-looking statements arebased on various assumptions and factors that may prove to beincorrect, including, but not limited to, factors and assumptions withrespect to the general stability of the economic and politicalenvironment in which the Company operates and the timely receipt ofrequired regulatory approvals.
Readers are cautioned that the foregoing risk factorsare not exhaustive. Undue reliance should not be placed on theforward-looking statements because Lithium Chile can give no assurancethat they will prove to be correct or that any of the eventsanticipated by forward-looking statements will transpire or occur, orif any of them do, what benefits Lithium Chile will derive therefrom.Similarly, the risk factors listed above are not exhaustive and otherrisk factors that have not been anticipated may become apparent asLithium Chile proceeds to Closing. Lithium Chile does not undertaketo update 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.
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