Lithium Chile’S Subsidary , Argentum Lithium, Awarded 8,445 Hectares ON the Salar de Arizaro BY Remsa
LITHIUM CHILE’S SUBSIDARY , ARGENTUM LITHIUM, AWARDED 8,445 HECTARES
ON THE SALAR DE ARIZARO BY REMSa
TSX Venture Exchange: LITH For Immediate Release
OTC-QB: LTMCF
CALGARY , ALBERTA, January 8, 2024 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is proud to
announce that it’s 100% owned ArgenƟnian subsidiary, Argentum Lithium S.A. (“Argentum”), has been
awarded Block IV in the recently completed bidding round in the Salar de Arizaro. Block IV is an 8,445-
hectare concession and was awarded by the Salta Provincial Mining and Energy CorporaƟon (“REMSa”).
Argentum was one of thirteen companies that competed in a public tender process that encompassed
five different Blocks.
Block IV was the largest of the five blocks. Strategically located north of Lithium Chile’s 20,800-hectare
project in the Arizaro basin, Block IV is situated approximately 18 kilometers north of the ARDDH-02 well
that the Company has already drilled.
Steve Cochrane, Lithium Chile’s President, and CEO stated, “Being awarded Block IV is a wonderful
achievement for us! It has the potenƟal to significantly increase our lithium resource without the added
expense. We have the equipment, capable team and infrastructure already in place, which posiƟons us
to swiŌly advance the project. Adding an addiƟonal 8,400 hectares to our already substanƟal land
posiƟon makes Lithium Chile a dominant player in the basin.”
Salar de Arizaro: Block IV & ExisƟng Arizaro Project
Extensive geological data on Block IV is already available - from an exploraƟon program completed by
Portofino Resources Inc. (“Portofino”) during 2023. That exploraƟon acƟvity included:
1) 40+ surface samples brine samples were collected and analyzed;
2) 35 trenches were completed confirming shallow brine tables;
3) 69,000 metres of geophysical surveys using VES technology revealed a sub-terranean aquifer
with depths up to 1000 metres; and
4) Low resisƟvity horizons were idenƟfied and interpreted as brine bearing targets.
Capitalizing on the extensive work and knowledge gained by Portofino during the exploraƟon program
carried out on Block IV, Lithium Chile has signed a Partnership Agreement (the “Agreement”) with
Portofino outlining a joint venture arrangement. The Agreement would enable Portofino to acquire a
50% net equity interest in Block IV, by contribuƟng 50% of award expenses and exploraƟon costs.
CompleƟon of the joint venture is conƟngent on Portofino raising the necessary funds and entering into
a definiƟve agreement - anƟcipated to be completed in the next 60 days.
In accordance with the commitment made by Lithium Chile in its successful bid, Lithium Chile has made
to REMSa the iniƟal payment for the award of US $5,739,915.
An Environmental Impact Study (“EIS”) will be filed immediately for an exploraƟon program to be
completed on Block IV during 2024. The Company’s established infrastructure near Block IV allows for
opƟmized resource uƟlizaƟon and seamless integraƟon of exploraƟon acƟviƟes. This proximity-driven
approach underscores the Company’s commitment to maximizing efficiency and expediƟng the project
Ɵmeline.
Salar de Arizaro: Block IV, Proposed ExploraƟon Program
Lithium Chile also proudly announces a significant milestone in its commitment to environmental
stewardship and community engagement. On December 4th, the Company presented the Environmental
Impact Assessment (“EIA”) for the producƟon stage of the Arizaro project, to the enforcement authority
of the Ministry of Mining and Energy of the Province of Salta.
The comprehensive study, prepared by Lithium Chile in collaboraƟon with renowned environmental legal
consultancy EC& Asociados SRL, reflects the Company's dedicaƟon to responsible environmental
pracƟces and sustainable project development. Notably, members of the Tolar Grandes community
acƟvely parƟcipated in the creaƟon of the Environmental Baseline, with community-appointed monitors
contribuƟng their valuable insights.
Embodying the 'Philosophy of Shared Value', Lithium Chile ensured the integraƟon of parƟcipaƟng
stakeholders throughout the study's elaboraƟon. Periodic meeƟngs facilitated the gathering of opinions
and experiences, emphasizing a collecƟve approach to addressing environmental and social aspects of
the proposed development.
Central to the EIA's objecƟves is the assurance of informaƟon transparency and ciƟzen parƟcipaƟon,
especially among communiƟes within the area of direct influence and indirect influence. The study,
available to all ciƟzens interested in environmental aspects of mining projects in the region, aligns with
Sustainable Development Goals, parƟcularly the fourth principle included therein: ‘Quality EducaƟon’.
ABOUT LITHIUM CHILE:
Lithium Chile is an exploraƟon and lithium resource company with a property porƞolio consisƟng of
111,978 hectares in Chile and 29,245 hectares in ArgenƟna. The Company has filed its NI 43-101 Report
and Preliminary Economic Assessment, which can be viewed on the Company’s profile at SedarPlus.ca
Lithium Chile also owns 4 properƟes, totaling 21,329 hectares, that are prospecƟve for gold, silver and
copper. ExploraƟon efforts are conƟnuing on Lithium Chile’s Carmona gold/silver/copper property which
lies in the heart of the Chilean mega porphyry gold/ silver/copper belt.
Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-QB
under the symbol “LTMCF”.
To find out more about Lithium Chile, please contact Steven Cochrane, President and CEO via email:
[email protected] or Michelle DeCecco, Vice President and COO, via email [email protected].
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENTS:
This news release may contain certain forward-looking informaƟon and forward-looking statements
within the meaning of applicable securiƟes legislaƟon (collecƟvely "forward-looking statements").
Generally, forward-looking statements can be idenƟfied by the use of forward-looking terminology such
as "expected", "anƟcipated", "aims to", "plans to" or "intends to" or variaƟons of such words and
phrases or statements that certain acƟons, events or results "will" occur. Such forward-looking
statements are based on various assumpƟons and factors that may prove to be incorrect, including, but
not limited to, factors and assumpƟons with respect to: the general stability of the economic and
poliƟcal environment in which the Company operates and the Ɵmely receipt of required regulatory
approvals. You are cauƟoned that the foregoing list of material factors and assumpƟons is not
exhausƟve. Although Lithium Chile believes that the assumpƟons and factors on which such forward-
looking statements are based upon reasonable assumpƟons, undue reliance should not be placed on the
forward-looking statements because Lithium Chile can give no assurance that they will prove to be
correct or that any of the events anƟcipated by such forward-looking statements will transpire or occur,
or if any of them do, what benefits Lithium Chile will derive therefrom. Lithium Chile does not undertake
to update any forward-looking statements herein, except as required by applicable securiƟes laws. All
forward-looking statements contained in this news release are expressly qualified by this cauƟonary
statement.