LITH:CC - Lithium Chile Completes Sale of Claims on Ollague Salar to Wealth Minerals in Exchange for 2000000 Shares of WML
(TheNewswire)
CALGARY, ALBERTA – TheNewswire- June 23, 2022 –Lithium Chile Inc. (“ LithiumChile ” or the “ Company ”) reportsit has received TSX Venture Exchange (“TSXV”) acceptance of theSale Agreement (the “ Agreement ”) (see newsrelease dated May 3, 2022) with Wealth Minerals Ltd. (“ Wealth ”) -(TSXV:WML ) ; ( OTC:WMLLF ) ; ( SSE:WMLCL ) ; ( Frankfurt:EJZN) to sell1,600 hectares hectares of a minority, non-core asset in the OllagüeBasin.
The transaction terms include a payment of 2,000,000shares of Wealth Minerals, with an additional payment of 1,000,000shares to the Company within twelve months if Wealth establisheswithin the acquired licenses either a resource with an average gradeof 300 parts per million lithium content, or a test well on theacquired licenses that produces material which tests no less than 300parts per million lithium content. If Wealth does not conduct worknecessary to potentially determine a resource or does not have a testwell to produce material for lithium testing within twelve months,then Wealth is obligated to pay 500,000 shares to Lithium Chile. Ifthe work necessary to potentially determine a resource or run a testwell is completed, but a resource or test well does not produce anaverage grade higher than 300 parts per million lithium, then nofurther share payments are due by Wealth to the Company.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolioconsisting of 79,700 hectares covering sections of 11 salars and 2laguna complexes in Chile and 23,300 hectares in Argentina.
Lithium Chile also owns 5 properties, totaling 22,429hectares that are prospective for gold, silver and copper. Explorationefforts are continuing on Lithium Chile’s Carmona gold/silver/copperproperty which 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 , Jose de CastroAlem, Argentina Manager via email jdecastroalem@gmail.com or Michelle DeCecco, Vice President of CorporateDevelopment via email michelle@lithiumchile.ca orat 403-390-9095.
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
Forward Looking Statements
This news release may contain certainforward-looking information and forward-looking statements within themeaning of applicable securities legislation (collectively"forward-looking statements"). Generally, forward-lookingstatements can be identified by the use of forward-looking terminologysuch as "expected", "anticipated", "aimsto", "plans to" or "intends to" or variationsof such words and phrases or statements that certain actions, eventsor results "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; the timely receipt ofrequired regulatory approvals; the ability of the Company to obtainfuture financing on acceptable terms; currency, exchange and interestrates; operating costs; the success the Company will have in exploringits prospects and the results from such prospects. You are cautionedthat the foregoing list of material factors and assumptions is notexhaustive. Although the Company believes that the assumptions andfactors on which such forward-looking statements are based arereasonable, undue reliance should not be placed on the forward-lookingstatements because the Company can give no assurance that they willprove to be correct or that any of the events anticipated by suchforward-looking statements will transpire or occur, or if any of themdo so, what benefits the Company will derive there from. Actualresults could differ materially from those currently anticipated dueto a number of factors and risks including, but not limited to:fluctuations in market conditions, including securities markets;economic factors; the risk that the new lithium or cesium explorationtender processes does not yield the anticipated benefits to theCompany, including the risk that the Company will not receive theapprovals necessary and the impact of general economic conditions andthe COVID-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.
Copyright (c) 2022 TheNewswire - All rights reserved.