Lithium Chile Announces the Acquisition of Prospective Gold Properties
Lithium Chile Announces the Acquisition of Prospective Gold Properties
TSX Venture Exchange: LITH For Immediate Release
OTC-QB: LTMCF
March 5, 20 20 - Lithium Chile Inc. (“Lithium Chile” or the “Company” ) is pleased to announce the
acquisition from Kairos Metals of previously held properties that are prospective for gold , silver and
copper.
Under the terms of an agreement entered into on March 4, 20 20 with Kairos Metals Corp . (“Kairos
Metals”), Lithium Chile will reacquire title to certain properties that were transferred to Kairos Metals in
the spin out transaction that occurred in 2018. Management of Lithium Chile believe these properties to
be highly prospective for gold, silver and copper accumulations.
This transaction will allow Lithium Chile to expand into the precious metals area while it awaits drilling
approval from local indigenous communities to further its lithium property portfolio. While exploitation
of the Company’ s extensive l ithium property port folio continues to be management’s key focus, the
addition of the gold, silver and copper p roperties allows management of the Company to expand its
options which may include entering into partnerships on some of the mineral properties . Given the
renewed global interest in prospective gold properties, the additional mineral prospects within Lithium
Chile’s portfolio provides enhanced opportunity for shareholder value creation.
Under the terms of the agreement, the promissory note previously granted by Kairos Metals to Lithium
Chile, which matures on May 8, 2020 in the amount of $1,400,000 CDN has been revised to the amount
of $1,000,000 CDN and matures on November 30, 2021.
Terry Walker V.P. Exploration comment ed that “the Apollo and Sancarrón properties hold the potential
for very large scale deposits located in the El Indio Gold Belt between the Pascua Lama deposit and the El
Indio and Tambo Mines – all of which are owned by Barrick Gold and which have been the subject of
significant recent dr illing activity. The other properties being retransferred to Lithium Chile have the
potential to host gold/silver/copper or copper/gold /moly porphyry style deposits within Chile’s Mega
Porphyry Belt - home to some of the world’s largest gold/copper/molybdenum porphyry deposits such as
Chuquicamata and Esperanza”.
Steve Cochrane, President and CEO of Lithium Chile commented that “I believe that this transaction will
be very beneficial to the shareholders of Lithium Chile. The current strength in the gold price has reignited
interest in quality gold exploration properties which Lithium Chile now has access to. Chile hosts some of
the better gold exploration opportunities and we are pleased to have added these quality gold prospects
to our portfolio.”
The transaction remains subject to regulatory approval.
This news release has been reviewed by Terence Walker, P. Geo., Vice President of Exploration of the
Company and a qualified person as that term is defined in National Instrument 43-101.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 166,150 hectares covering sections of
14 salars and 2 laguna complexes in Chile.
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 Inc., please contact Steven Cochrane, President and CEO via e mail:
[email protected] or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via
email: [email protected] . Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473
or via email: [email protected]
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
Steven Cochrane
President & CEO
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.
NOT FOR RELEASE IN THE UNITED STATES OF AMERICA
Forward Looking Statements
This news release may contain certain forward -looking information and forward -looking statements within the
meaning of applicable securities legislation (collectively "forward -looking statements"). Generally, forward -looking
information can be identified b y the use of forward -looking terminology such as "expects", "believes", "aims to",
"plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or
results "will" occur. In particular, this news release cont ains forward-looking statements relating to, among other
things, management of the Company's views regarding the properties being reacquired.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific materia l
factors and assumptions include, but are not limited to: the general stability of the economic and political
environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the
Company to obtain future finan cing on acceptable terms; currency, exchange and interest rates; operating costs;
the success the Company will have in exploring its prospects and the results from such prospects. Accordingly,
readers should not place undue reliance on forward -looking sta tements. The Company does not undertake to
update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking
statements contained in this press release are expressly qualified by this cautionary statement .