Mr. Steve Cochrane reports

LITHIUM CHILE INTERSECTS HIGHEST LITHIUM GRADES AVERAGING 656 MG/L FROM PRODUCTION HOLE ARGENTO-06

Lithium Chile Inc. has provided an operational update on its Salar de Arizaro project in Argentina. Lithium Chile has made significant advancements in its northeastern Arizaro claims. The latest sampling results from hole ARGENTO-06 are included.

Highlights

Lithium brine sampling results from Argento-06

Three airlift samples were taken over a 48-hour period returning the following lithium values:

• 652 milligrams per litre (mg/l) lithium (Li);
• 654 mg/l Li;
• 662 mg/l Li;
• These significant concentrations are anticipated to increase the resource volume attributed to the area of the well -- in the northeastern portion of the Arizaro claims -- which will also lead to classifying the resource into at least the indicated category.

Argentina operations -- Arizaro project

The Argento-06 rotary hole was drilled to a depth of 602 metres with a brine-rich, sandy formation encountered from 161 to 500 metres. The samples, recovered using airlift, were sent to Alex Stewart Laboratory in Jujuy, Argentina. Sampling reported an average grade of 656 mg/l Li from a depth of 282 metres.

This result represents significant exploration progress for the northern portion of the Arizaro project, where the company has previously reported inferred resources in its National Instrument 43-101-compliant resource report. These sampling results are expected to increase the existing 4,122,000 tonnes of lithium carbonate equivalent resource and are expected to upgrade the resource category to at least the indicated category and possibly into the measured category.

Steve Cochrane, president and chief executive officer, remarked: "The results achieved from this new hole are yet another important step in our strategic process. The enhanced grades will drive increased resource volumes and transition us into the more confident indicated and measured resource classifications. We remain exceedingly confident that our Arizaro project is world class."

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

Prefeasibility study

On June 28, 2024, the company received preliminary results of the prefeasibility study (PFS) being prepared on the Arizaro project. Those preliminary results supported management's belief that significantly positive revisions to project resource estimates and their inherent value would be forthcoming. The PFS is in the final phases of being completed for publication and dissemination. Those positive results are expected to be communicated to stakeholders in short order.

Qualified person, QA/QC (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 22 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.

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