Mr. Steve Cochrane reports

LITHIUM CHILE ANNOUNCES FAVORABLE RESULTS AT NEW ARIZARO EXPLORATION HOLE

Lithium Chile Inc. has provided an operational update on its Salar de Arizaro project in Argentina, highlighting significant progress on the company's northeastern claims, including sampling results from hole ARDHH-08.

Highlights:

• One diamond drill hole was completed at the Arizaro project:
  • The hole encountered brine-rich formations in areas not previously drilled. Results from drilling provide for potential significant resource upside.
• A new diamond drill hole, ARDDH-9, is currently under way.

Argentina operations -- Arizaro project

ARDDH-08 has been drilled to a depth of 606 metres with a brine-rich, sandy formation encountered at 200 metres. The bailer samples sent to Alex Stewart Laboratory, Jujuy, Argentina, reported the following grades:

• 50 metres encountered grades of 180 milligrams/litre lithium;
• 200 metres encountered grades of 690 milligrams/litre Li.

Results from hole ARDHH-08 represent important exploration progress for the northeastern portion of the Tolar 6 property, where the company does not have any mineral resource estimates contributing to the previously reported 3,342,000-tonne lithium carbonate equivalent resource associated with the project. Due to the variability in lithium grades encountered, additional depth-specific sampling of the brines have been recommended by the qualified person overseeing the project.

Salar de Arizaro, Argentina: resource calculation

Steve Cochrane, president and chief executive officer, remarked: "The results from this new hole signify an important step in our strategic road map, propelling us closer towards maximizing the full potential of our claims. We are confident in the Arizaro project's potential to become a premier lithium carbonate producer, and we're energized by the promise of continued progress."

Lithium Chile's president for South America, Jose de Castro, says: "We are immensely proud of our exceptional team in Argentina, whose unique experience in previous lithium projects has been instrumental in creating value for all stakeholders, including the communities we work with. As we continue to progress towards a revised resource report and feasibility study to support production economics, we remain steadfast in our mission to add value and realize the full potential of the Arizaro project."

Qualified person, quality assurance/quality control statements

Leandro Sastre has reviewed and approved the scientific and technical content of this news release. Mr. Sastre is a geology professional with over 20 years of experience in the international mining sector. Mr. Sastre has worked extensively throughout Latin America with a focus on Argentina, Chile and Peru.

About Lithium Chile Inc.

Lithium Chile is an exploration and lithium resource company with a property portfolio consisting of 111,978 hectares in Chile and 29,245 hectares in Argentina. The company has filed its National Instrument 43-101 report and preliminary economic assessment, which can be viewed on the company's profile on SEDAR+.

Lithium Chile also owns five properties totalling 22,529 hectares that are prospective for gold, silver and copper.

Lithium Chile's common shares are listed on the TSX Venture Exchange under the symbol LITH and on the OTCQB under the symbol LTMCF.

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