Lithium Chile and Summit Nanotech Announce Signing of Definitive Agreement FOR Their Joint Pilot Project IN Chile
LITHIUM CHILE AND SUMMIT NANOTECH ANNOUNCE SIGNING OF DEFINITIVE
AGREEMENT FOR THEIR JOINT PILOT PROJECT IN CHILE
TSX Venture Exchange: LITH For Immediate Release
OTC-BB: LTMC
CALGARY, ALBERTA, March 8, 2021 – Lithium Chile Inc. (“Lithium Chile” or the “ Company”) is
pleased to announce the completion of a definitive agreement with Summit Nanotech
Corporation (“Summit Nanotech”) that will launch Summit Nanotech’s proprietary lithium
extraction technology at one of Lithium Chile’s exploration wellsites. The original LOI was entered
into in June of 2020 (see press release June 16 , 2020) whereby Lithium Chile and Summit
Nanotech would collaboratively demonstrate the viability of the novel process for sustainable
extraction of lithium.
During the last six months , Summit Nanotech has been advancing its technology to the point
where a pilot unit is now under construction with the intention to deploy it for field testing by
Q4 2021.
Lithium Chile has identified two prospective properties for the pilot program and is currently in
the process of confirming drill locations following which drilling permits will be applied for.
Steve Cochrane, President and CEO of Lithium Chile commented, “We are extremely excited to
have our definitive agreement in place with Summit Nanotech so we can jointly prove the merits
of their new technology for the ecologically sustainable production of lithium. We have received
tremendous support from the local indigenous communities for our combined efforts to reduce
environmental impact by changing the way lithium is produced from brine deposits. We see
Summit’s technology as the future of our industry.”
Amanda Hall, CEO & Founder of Sum mit Nanotech commented, “This is an exciting first step on
the road to a commercial scale operation of our denaLi DLE technology. It has been a n honor
working with Lithium Chile’s team to progress this exciting endeavor in the heart of the lithium
triangle, which includes the support of both the Chilean federal government and local Indigenous
communities in Chile.”
The Company also announces the grant of 2,100,000 stock options to Officers, Directors and
Advisors of the Company (the “Options”) in accordance with the Company's stock option plan.
The Options are exercisable for a period of ten years at $0.51 and will vest as to one third each
on the date of grant and the first and second anniversaries of the grant. The Options are subject
to the policies of the TSX Venture Exchange.
Qualified Person
Mr. Terence Walker, M.Sc., P.Geo ., qualified person within the meaning of National Instrument
43-101, has reviewed and approved the contents of this news release.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 71,900 hectares covering
sections of 10 salars and two laguna complexes in Chile.
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Lithium Chile also owns 5 properties that are prospective for gold, silver and copper. Exploration
efforts are continuing 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-
BB under the symbol “LTMCF”.
To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO
via email: [email protected] or alternately, Terry Walker, VP Exploration at (011) 562 2455 -
6473 or via email: [email protected].
About Summit Nanotech
Summit Nanotech is a private cleantech company that has developed new processes for
extracting lithium and other valuable metals from brine water using advanced nanomaterials.
Summit’s approach to metal extraction is focus ed on environmental impac t, reliability and
consistency of supply and lowering operating costs.
To find out more about Summit Nanotech Corporation, please contact Amanda Hall, CEO &
Founder via email: [email protected]
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assumptions include, but are not limited to: the general stability of the economic and political environment in which the Company
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