LTMCF - Lithium Chile Completes Reconaissance Exploration Program on Apolo and Sancarron Gold-Siver Properties In Chile (TSXV:LITH) (OTCBB:LTMCF)
(TheNewswire)
CALGARY, ALBERTA – TheNewswire- December 9, 2021 –Lithium Chile Inc. (“ LithiumChile ” or the “ Company ”) (TSXV:LITH)(OTC:LTMCF) is pleased to announce it hascompleted an exploration program on its Apolo and Sancarron Propertiesin the El Indio gold and silver belt in Chile. This is the firstexploration program ever conducted on these two prospects by LithiumChile. The program involves a helicopter born reconnaissance andsample program on four of the numerous alteration zones on theproperties. The samples collected have been delivered to the ALSLaboratory in La Serena, Chile for assaying. The program was designedto access the potentiality of both properties for high grade vein anddisseminated gold - silver deposits such as the multi-million ounce ElIndio (20 km south) and Pasqua Llama (35 km north) deposits. It isLithium Chile's intent to seek a joint venture partner to move bothprojects forward and the data collected from this initial program isdesigned to facilitate that process. The Apolo/Sancarron propertiescover an area of 5,229 hectares in total.
Lithium Chile also announcesthat, further to its news release dated May 13, 2021, it has completedthe issuance of common shares of the Company (“ Shares ”) pursuantto a consulting agreement (the “ Agreement ”) enteredinto with a third party (the “ Provider ”) for the purposes of providing theCompany with a social media presence. The Company previously announcedthe issuance of 211,764 Shares at a deemed price of $0.34 per Share,and issued 105,882 Shares at a deemed price per share of $0.34 perShare on August 9, 2021 and 69,231 Shares at a deemed price of $0.52per Share on December 6, 2021 . All of the Sharesissuable pursuant to the Agreement have now been issued and the debthas been extinguished.
Completion of the Agreement is subject to regulatoryapproval including, but not limited to, the approval of the TSXVenture Exchange. The securities issued pursuant to the Agreement aresubject to a four month hold period from the date of issuance.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolioconsisting of 69,200 hectares covering sections of 10 salars and twolaguna complexes in Chile and 1 property of 23,300 hectares inArgentina.
Lithium Chile also owns 5 properties, totaling 22,429hectares, that are prospective for gold, silver and copper.Exploration efforts are continuing on Lithium Chile’s Carmonagold/silver/copper property which lies in the heart of the Chileanmega 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 or alternately, Jose de Castro Alem, Argentina Manager viaemail jdecastroalem@gmail.com
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.
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 statements can beidentified by the use of 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. In particular, this news releasecontains forward-looking statements relating to, among other things: the Company's ability to obtain necessary approvals from the TSXVenture Exchange and the timing and assay results from the sampleprogram. Such forward-looking statements are based on variousassumptions and factors that may prove to be incorrect, including, butnot limited to, factors and assumptions with respect to: the generalstability of the economic and political environment in which theCompany operates; the timely receipt of required regulatory approvals;the ability of the Company to obtain future financing on acceptableterms; currency, exchange and interest rates; operating costs; thesuccess the Company will have in exploring its prospects and theresults from such prospects. You are cautioned that the foregoing listof material factors and assumptions is not exhaustive. Although theCompany believes that the assumptions and factors on which suchforward-looking statements are based are reasonable, undue relianceshould not be placed on the forward-looking statements because theCompany can give no assurance that they will prove to be correct orthat any of the events anticipated by such forward-looking statementswill transpire or occur, or if any of them do so, what benefits theCompany will derive there from. Actual results could differ materiallyfrom those currently anticipated due to a number of factors and risksincluding, but not limited to: fluctuations in market conditions,including securities markets; economic factors; the risk that the newlithium exploration tender process does not yield the anticipatedbenefits to the Company, if at all; the risk that the Offering willnot be completed as anticipated or at all, including the risk that theCompany will not receive the approvals necessary in connection withthe Offering; and the impact of general economic conditions and theCOVID-19 pandemic. The Company does not undertake to update anyforward-looking statements herein, except as required by applicablesecurities laws. All forward-looking statements contained in this newsrelease are expressly qualified by this cautionary statement.
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