Mr. Steven Cochrane reports

LITHIUM CHILE ANNOUNCES EFFECTIVE DATE OF COPPER/GOLD/SILVER PROPERTY SPIN OUT

Lithium Chile Inc. has received TSX Venture Exchange approval of the previously announced spinout transaction of its subsidiary, Kairos Gold Inc., into a stand-alone company owning the Chilean gold, copper and silver properties previously held within Lithium Chile, to be completed by way of a plan of arrangement involving Lithium Chile and Kairos Gold. The Kairos arrangement will close effective Dec. 4, 2024.

Pursuant to the Kairos arrangement, shareholders of Lithium Chile will receive one common share of Kairos Gold for each 10 common shares of Lithium Chile held by them on Dec. 3, 2024, which is the distribution record date for the Kairos arrangement. Following the completion of the Kairos arrangement, Kairos Gold will be a reporting issuer pursuant to applicable securities laws.

Michelle DeCecco, vice-president and chief operating officer, comments: "The completion of the spinout aligns with the company's broader objective, which includes segregating assets in order to complete a transaction on Arizaro as part of the strategic process initiated on Sept. 21, 2023. Additionally, with gold prices remaining strong and market fundamentals supporting sustained demand, this spinout provides our shareholders with a meaningful opportunity to participate in a gold exploration venture leveraging previously unvalued assets within Lithium Chile."

Shareholders whose Lithium Chile shares are held by a broker or other intermediary (or an agent or nominee thereof) should contact their broker or other intermediary in respect of the receipt of their Kairos Gold shares pursuant to the Kairos arrangement. Registered holders of Lithium Chile shares will receive confirmation of a book-entry deposit of their Kairos Gold shares directly from the Kairos Gold transfer agent.

Lithium Chile 2.0 Inc. arrangement

The company is also providing an update on the previously announced spinout transaction of its subsidiary, Lithium Chile 2.0 Inc. (LITH 2.0), into a stand-alone company owning the Chilean lithium properties previously held within Lithium Chile, which is to be completed by way of a plan of arrangement involving Lithium Chile and LITH 2.0. The completion of the LITH 2.0 arrangement is subject to the successful conclusion by Lithium Chile of its strategic process involving its Arizaro property, for which negotiations remain continuing.

About Lithium Chile Inc.

Lithium Chile is an exploration company with a property portfolio consisting of 11 properties encompassing 106,136 hectares in Chile together with 29,245 hectares on the Salar de Arizaro in Argentina. Lithium Chile shares are listed on the TSX Venture Exchange under the symbol LITH and on the OTCQB under the symbol LTMCF.

About Kairos Gold

Kairos Gold is advancing a gold, copper and silver portfolio of 22,433 hectares over four projects in Chile. Kairos Gold intends to initiate further exploration work on one of its prospects shortly.

We seek Safe Harbor.