LTMCF - Lithium Chile Partners With Major European Mining Group Eramet to Explore Four if its Chilean Properties
(TheNewswire)
CALGARY, ALBERTA / TheNewswire / March 5,2024 – Lithium Chile Inc. (TSXV:LITH)(OTC:LTMCF) (“ Lithium Chile ” orthe “ Company ”) is pleased to announce it has entered into a Farm-Inagreement (the “ Agreement ”) with Eramet, a renowned Europeanmining company recognized as a global leader in metal extraction andtransformation.
The signing of theAgreement is proceeding in parallel with the strategic process beingundertaken by PI Financial Corp. This synchronized approachunderscores the Company’s commitment to maximizing value in allaspects of its operations.
The partnership with Eramet signifies a pivotal stepfor Lithium Chile as it leverages the extensive expertise andcapabilities of a distinguished industry leader to expediteexploration efforts on four of the Company’s Chilean properties.Llamara, Aguilar, Rio Salado and Aquas Caliente are included in theAgreement which collectively cover an expansive area exceeding40,000-hectares, showcasing significant potential for mineralexploration and development.
THE AGREEMENT
Eramet will undertake an exploration program, carriedout in three separate phases over the next 3 to 4 years. The totalprojected exploration program is in the order of ~USD $20 million.Upon completion of each phase, Eramet shall earn share capital in theJoint Venture holding the mining tenements, totaling up to 70% at theend of phase 3 with an option to reach 100% equity.
Lithium Chile will be entitled to a bonus(“ Success Bonus ”), pre-agreed by the parties, based on the amount ofLithium Carbonate Equivalent resources delineated, in accordance witha completed NI 43-101 or similar instrument.
Lithium Chile & Eramet, Joint Venture Properties
"Eramet’s unparalleled expertise and credibilityfurther enhances our position in the mineral industry” stated SteveCochrane, President & CEO of Lithium Chile. “This partnershipunderscores our shared commitment to advancing sustainable mineralprojects in Chile. We look forward to leveraging their capabilities tomaximize the potential of our Chilean properties."
The proposed transaction between Lithium Chile andEramet is subject to the execution of the Joint Venture Agreement andthe Company receiving TSX Venture Exchange approval.
Eramet transforms the Earth’s mineral resources toprovide sustainable and responsible solutions to the growth of theindustry and to the challenges of the energy transition.
Its employees are committed to this through their civicand contributory approach in all the countries where the mining andmetallurgical group is present.
Manganese, nickel, mineral sands, lithium, and cobalt:Eramet recovers and develops metals that are essential to theconstruction of a more sustainable world.
As a privileged partner of its industrial clients, theGroup contributes to making robust and resistant infrastructures andconstructions, more efficient means of mobility, safer health toolsand more efficient telecommunications devices.
Fully committed to the era of metals, Eramet’sambition is to become a reference for the responsible transformationof the Earth’s mineral resources for living well together.
Eramet is listed on theParis stock exchange (Euronext) under the ticker symbol ERA. Thecompany operates in 15 countries and employs approximately 10,000people. Eramet reported an adjusted turnover of approximately US$4.1billion in 2023.
ABOUT LITHIUM CHILE:
Lithium Chile is an exploration and lithium resourcecompany with a property portfolio consisting of 111,978 hectares inChile and 29,245 hectares in Argentina. The Company has filed its NI43-101 Report and Preliminary Economic Assessment, which can be viewedon the Company’s profile at SedarPlus.ca
Lithium Chile also owns 5 properties totaling 22,529hectares that are prospective for gold, silver and copper.
Lithium Chile’s common shares are listed on the TSX-Vunder the symbol “LITH” and on the OTC-QB under the symbol“LTMCF”.
To find out more about Lithium Chile, please contactSteven Cochrane, President and CEO via email: steve@lithiumchile.ca orMichelle DeCecco, Vice President and COO via email:michelle@lithiumchile.ca.
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:
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. You are cautioned that the foregoinglist of material factors and assumptions is not exhaustive. Adescription of assumptions used to develop such forward-lookinginformation and a description of risk factors that may cause actualresults to differ materially from forward-looking information can befound in Lithium Chile's disclosure documents on the SEDAR+ website atwww.sedarplus.ca. Although Lithium Chile believes that the assumptionsand factors on which such forward-looking statements are based uponreasonable assumptions, 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 such forward-looking statements will transpire oroccur, or if any of them do, what benefits Lithium Chile will derivetherefrom. Lithium Chile 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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