Mr. Steve Cochrane reports

LITHIUM CHILE STRENGTHENS STRATEGIC POSITION IN ARIZARO PROJECT WITH ACQUISITION OF ADDITIONAL STAKE

Lithium Chile Inc. has entered into a purchase agreement with LitiAr S.A. to acquire an additional 17.8-per-cent interest in the Salar de Arizaro, Argentina project. This acquisition increases Lithium Chile's interest in the Arizaro project to 80 per cent, which recently reported a pretax net present value (NPV) USD $3.8-billion (U.S.) in a National Instrument 43-101-compliant prefeasibility study.

Under the terms of the agreement, Lithium Chile will pay for the additional interest through the issuance of 19 million common shares and a cash payment of $2.7-million (Canadian).

This acquisition is required to complete the company's objective of consummating a sale transaction on the Arizaro project in Argentina, the objective of the strategic process initiated on Sept. 21, 2023.

Steve Cochrane, president and chief executive officer, commented: "We have been in negotiations on this acquisition for some time now. This component of our overall objective could not be completed until the company finalized earning of its interest in the Arizaro project by making the final payment and finalizing the prefeasibility study, each of which was completed recently. We remain committed to capitalizing on the value we have built on the Arizaro project, which is a world-class premier lithium project."

Lithium Chile must complete the purchase within a period of 90 days; however, if Lithium Chile is in the process of closing a formal agreement regarding the sale of its interest in the Arizaro project, the completion deadline will be extended to 60 days following the date upon which Lithium Chile is able to satisfy the conditions of such sale agreement. The purchase price for the additional interest in the Arizaro project is subject to adjustment in certain circumstances.

About Lithium Chile Inc.

Lithium Chile is an exploration company with a robust portfolio of 11 properties spanning 106,136 hectares in Chile and 29,245 hectares on the Salar de Arizaro in Argentina. The company has successfully advanced its Arizaro project with the completion and filing of an NI 43-101-compliant resource report, preliminary economic assessment (PEA) and PFS, all accessible on SEDAR+.

In addition to its lithium-focused assets, Lithium Chile holds four properties in Chile, covering 22,433 hectares, with significant potential for gold, silver and copper exploration.

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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