File: '\\swfile\EmailIn\20240726 131043 Attachment LIS NR 2024 07 26 - Option Repricing.docx'

Lithium South Announces Proposed Option Repricing

July 26, 2024 / Vancouver, BC / Lithium South Development Corporation (the "Company" or "Lithium South") (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) announces that it has applied to the TSX Venture Exchange (the "Exchange") to reprice an aggregate of 6,145,000 incentive stock options ("Options") previously granted to directors, officers and consultants as follows (the "Option Repricing"):

450,000 Options granted on April 9, 2020 from $0.305 to $0.25

1,020,000 Options granted on February 4, 2021 from $0.70 to $0.25

1,000,000 Options granted on March 24, 2021 from $0.80 to $0.25

450,000 Options granted on October 26, 2021 from $0.68 to $0.25

750,000 Options granted on January 28, 2022 from $0.75 to $0.25

900,000 Options granted on September 6, 2022 from $0.455 to $0.25

125,000 Options granted on September 29, 2022 from $0.49 to $0.25

1,000,000 Options granted on August 4, 2023 from $0.465 to $0.25

450,000 Options granted on November 21, 2023 from $0.325 to $0.25

The Option Repricing is subject to the approval of the Exchange. In addition, the Company will seek approval from the disinterested shareholders of the Company for the Options held by insiders of the Company at the annual general meeting of the shareholders of the Company scheduled for August 30, 2024.

About Lithium South

Lithium South owns 100% of the HMN Li Project located in Salta and Catamarca Provinces, Argentina, in the heart of the lithium triangle. The Salar del Hombre Muerto has a history of lithium production, with Arcadium Lithium (as a result of the Alkem and Livent merger) in operation for over twenty-five years, in an area just south of the HMN Li Project. The HMN Li Project is surroundeda by a US$4 billion lithium development under construction by POSCO (Korea) and the Sal de Vida Project under development by Arcadium. Exploration work to date has delineated a National Instrument 43-101 compliant 1,583,200 tonne Lithium Carbonate Equivalent ("LCE") Resource (See Note 1 below) on the Alba Sabrina, Natalia Maria, and Tramo claim blocks, three of five non-contiguous blocks that make up the HMN Lithium Project. A recent Preliminary Economic Assessment announced on March 04, 2024, and with report to follow, delineates the exciting potential of the 15,600 tonne per year lithium carbonate project. With pumping well installation underway, Lithium South is transitioning from being a lithium explorer to becoming a lithium developer.

On behalf of the Board of Directors

Adrian F. C. Hobkirk

President and Chief Executive Officer

Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.