Lithium Chile Closes First Tranche of Fully Subscribed Private Placement

LITHIUM CHILE CLOSES FIRST TRANCHE OF FULLY SUBSCRIBED PRIVATE

PLACEMENT

TSX Venture Exchange: LITH For Immediate Release

OTC-QB: LTMCF

CALGARY, ALBERTA, June 3 , 2020 – Lithium Chile Inc. (“Lithium Chile” or the “ Company”) is

pleased to announce it has closed on $755,000 of its previously announced $1,500,000 private

placement of units (the “Offering”). The Offering is fully subscribed and closing of the second

tranche is anticipated in the next 10 days. Rules around the Covid 19 pandemic caused delays in

obtaining the necessary paperwork which has necessitated two closings.

Pursuant to the first tranche of the Offering, Lithium Chile paid cash commissions to qualified

non-related parties of $41,800 and issued 418,000 broker warrants (the “ Broker Warrants ”).

Each Broker Warrant entitles the holder to acquire one common share of the Company at a price

of $0.10 per Broker Warrant for a period of 12 months from the date of issuance.

The Company plans to use a portion of the funds received on this first closing for advanced

exploration programs on both its Laguna Blanca lithium/cesium prospect and its Carmona

gold/silver prospect. Both programs will get underway as soon as possible.

Completion of the Offering is subject to regulatory approval including, but not limited to, the

approval of the TSX V enture Exchange. The securities issued are subject to a four month hold

period from the date of the closing of the Offering.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 1 10,280 hectares covering

sections of 11 salars and two laguna complexes in Chile.

Lithium Chile now also owns 5 properties that are prospective for gold, silver and copper. The

Apolo and Sancarron properties lie within the core of the El Indo Gold belt noted fo r it’s multi-

million-ounce gold deposits.

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 email: [email protected] or alternately, Jeremy Ross, VP Business Development, at (604)

537-7556 or via email: [email protected]. Chilean contact is Te rry Walker, VP Exploration

at (011) 562 2455-6473 or 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.

NOT FOR RELEASE IN THE UNITED STATES OF AMERICA

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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 by 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 contains forward -looking statements relating to, among other things, the closing of the second tranche of the private

placement, statements pertaining to the use of proceeds, and the Company's ability to obtain necessary approvals from the TSX

Venture Exchange.

You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material 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 financing on acceptable

terms; currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects a nd

the results from such prospects. Accordingly, readers should not place undue reliance on forward -looking statements. 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 news release are expressly qualified by this cautionary statement.