Lithium Chile Provides an Update on the Sale of the Salar de Arizaro Project, Argentina

(TheNewswire)

TSX Venture Exchange: LITH

OTC-QB: LTMCF

CALGARY, ALBERTA – TheNewswire - January 15, 2025 – Lithium Chile Inc . (“ LithiumChile ” or the “ Company ”) ( is pleased to provide anupdate on the proposed sale, announced on December 19,2024 , of Lithium Chile's 80% interest in theSalar de Arizaro project (the “Project”) for USD $180 million(approximately CAD $250 million).

Due Diligence Progress

Technical due diligence was conducted in 2024 andcompleted in September 2024.

Following the binding Letter of Intent (LOI) executedon December 16, 2024, the prospective buyer engaged global leaders,Dentons LLP for legal due diligence and KPMG Inc. for financial duediligence on the Arizaro project. This due diligence process isfocused on:

• Legal: Verifying Lithium Chile’s ownership and title of theclaims.

• Financial: Evaluating investments and liabilities related to Lithium Chile’s80% stake in the 20,800-hectare Arizaro project.

The buyer is responsible for all due diligence costsand aims to complete the process by the second week of February 2025.Upon completion, the parties will finalize a Definitive Agreementexpeditiously.

Retention of Block IV and FutureExploration

Following the proposed Project sale, Lithium Chile willretain its 89% interest in Block IV on the Salar de Arizaro spanning approximately 8,445 hectares. The Company hassubmitted an Environmental Impact Assessment (EIA) to the Ministry ofMining and Energy of Salta Province, reflecting its commitment toresponsible environmental practices and sustainable projectdevelopment. Leveraging its extensive experience on the Arizaro Salar,Lithium Chile plans to commence an exploration program on Block IVfollowing the completion of the Arizaro sale.

Expansion and Development of theSalar de Coipasa Project, Chile

In September 2024, the Chilean government announcedthat the Salar de Coipasa had been approved for commercialexploitation by the private sector under the new National LithiumStrategy. Recognizing the potential of this area, Lithium Chilehas expanded its position by increasing its landholdings from 11,300 hectares to 13,100 hectares, with an additional6,100 hectares pending court approval.

Strategically located on the Chile-Bolivia border, theSalar de Coipasa is a significant asset for Lithium Chile.Near-surface brine samples have returned lithium concentrations up to1,410 mg/L, comparable to production grades at leading facilities inthe Salar de Atacama. Geophysical surveys, including TransientElectromagnetic (TEM) methods, have identified a substantialhigh-conductivity anomaly within 150 meters of the surface. Thisanomaly spans at least 58 square kilometers, with a thickness rangingfrom 200 to 300 meters, and remains open at depth, indicating apotentially extensive brine-bearing formation.

Given its prime location and promising data, Coipasa ispoised to play a pivotal role in Lithium Chile's exploration anddevelopment activities going forward. The Company plans to file aSpecial Lithium Operation Contract (CEOL) for Coipasa, by January 18,2025.

Michelle DeCecco, Vice President and Chief OperatingOfficer commented, "Weare pleased to report that the sale process of our 80% interest in theArizaro project is proceeding smoothly. This transaction will enableLithium Chile to distribute the majority of cash from the sale to ourshareholders, as well as pursue other compelling opportunities withthe aim of creating new value for our shareholders.”

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 followed by a Preliminary EconomicAssessment and then a Prefeasibility Study, all of which areaccessible on SedarPlus.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.

Closing of the proposed sale remains subject tosignificant risks including obtaining necessary regulatory bodyapprovals including that of the TSX Venture Exchange.  Closing alsoremains subject to the completion of Definitive Agreements in formsatisfactory to the parties to the transaction and remains subject tofinal completion of due diligence by the Buyer.

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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