LTMCF - Lithium Chile Provides Operational Update on Its Argentinian Lithium Project

(TheNewswire)

CALGARY, ALBERTA – TheNewswire- JUNE 09, 2021 –Lithium Chile Inc. (“ LithiumChile ” or the “ Company ”) ( TSXV:LITH)(OTC:LTMCF) is pleased to announce thatsignificant progress has been made towards the drilling of theCompany’s initial production test well on its Arizaro property inSalta Province, Argentina.

HIGHLIGHTS

• - Work program outlined and budgetcompleted;

  - Total cost below forecast;

  - Drilling Contractorretained;

  - Senior consulting geologist 30+years lithium experienced retained

The initial operational meeting was held within a weekof signing the LOI (May 17, 2021 press release) and plans continue tounfold quickly. Once the definitive agreement is completed prior toJuly 12 th , the Company hopes to begin drilling the production testwell. Drilling should take approximately 8 weeks with a 30-day pumpingtest to follow. The test is designed to analyze and collect data fromthe target zone that will prove the potential commerciality of theaquifer identified in an earlier exploration program.

Steve Cochrane, President and CEO of Lithium Chilecommented: “I am very pleased that our Argentinian team wasestablished so quickly allowing us to initiate our production welldrilling program. It is exciting that we now have two programsunderway in two of the major countries forming the “LithiumTriangle.” We are confident that this will create substantialshareholder value going forward.”

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 and now, 23,300 hectares in Argentina.

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, Terry Walker VP Exploration email twalker@goldenrock.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.

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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.

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.

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