Lithium Chile Inc. Contracts Ausenco Engineering to Complete Its Prelinary Economic Assesment Report ON the Salar de Arizaro, Argentina
LITHIUM CHILE INC. CONTRACTS AUSENCO ENGINEERING TO COMPLETE
ITS PRELINARY ECONOMIC ASSESMENT REPORT ON THE
SALAR de ARIZARO, ARGENTINA
TSX Venture Exchange: LITH For Immediate Release
OTC-QB: LTMCF
CALGARY, ALBERTA, February 22, 2023 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is
pleased to announce that AUSENCO Engineering (“AUSENCO”) has been selected to co-ordinate and
produce the Company’s Preliminary Economic Assessment (“PEA”) report. The PEA is designed to define
the economic parameters and commercial potential for Lithium Chile’s Argentinian based Salar de
Arizaro project (the “Project”). The PEA will investigate all aspects of going into production including
lithium carbonate plant construction, metallurgy, resources quantities and production potential. The
PEA will be based on a first 25,000 metric tonne per year production plant with design focused on the
ability to double production via a second 25,000 tonne/year module. AUSENCO will require
approximately six months to complete the PEA with results expected to be published during Q3 2023.
The second 25,000 metric tonne per year module will be included in the study for implementation after
the plant has reached steady-state production.
The PEA is designed to provide important pieces of information pertaining to the economic potential of
the Salar de Arizaro Project, enabling Lithium Chile to transition from a resource to production company.
Obtaining a clear idea of the Salar de Arizaro’s commercial potential will contribute significantly to
shareholder value.
The PEA will provide the basis, along with an Environmental Impact study, for Lithium Chile to file for
production permits for the Arizaro project. Lithium Chile anticipates that in conjunction with the PEA’s
completion, permitting applications will be filed with the Ministry of Mining Salta, Argentina early in Q3
as well.
Steve Cochrane, CEO, comments “This is a significant step forward in the evolution of Lithium Chile from
an early-stage exploration story to a significant lithium production company after only 18 months of
commencing work on the property. We are advancing the Project with the cooperation and
participation of local communities to establish a sustainable project that benefits those local
communities and Lithium Chile stakeholders together. AUSENCO Engineering has been involved in the
preparation of numerous PEA reports in South America and has both the people and experience to
produce a world class report. We are very pleased to be working with AUSENCO and their South
American team”.
The Company also announces it has engaged the services of Global One Media Limited (“Global One
Media”) to manage social media on the Company’s behalf, including the distribution of news releases,
interviews, and other similar services.
Commenting on the engagement, Bastien Boulay, Managing Partner at Global One Media, said, "We are
very excited to be able to introduce and enhance Lithium Chile’s exposure to Millennial and Gen Z
investors in particular, who consume investment information on digital sources. We aim to help Lithium
Chile develop a dynamic online following across their social media channels.”
Global One Media does not have any interest, directly or indirectly, in the Company or its securities, or
any right or intent to acquire such an interest. Global One Media may provide additional services in the
future.
The Company is also pleased to announce that over the past 3 weeks it has received approximately
$6,000,000 dollars from the exercise of its outstanding $0.60 warrants. The Company would like to
remind shareholders that the balance of the $0.60 warrants outstanding are due to expire Thursday
February 23, 2023.
Additionally, Lithium Chile announces, subject to regulatory approval, that it has granted 400,000 stock
options to consultants of the Company. The stock options are issued with an exercise price of $0.86,
being the closing price of the Company's Common Shares on the TSX-V on February 21, 2023. All Options
are subject to the terms of the applicable grant agreements.
ABOUT AUSENCO:
AUSENCO Engineering is an infrastructure consulting and engineering firm offering asset operations, EPC
and project management services to multiple industries worldwide. AUSENCO has a 30 year track record
of delivering innovative, value added, asset operation and maintenance solutions to the mining, oil and
gas sectors.
ABOUT GLOBAL ONE MEDIA:
Global One Media is an innovative investor-focused digital marketing agency solving the needs of small
and mid-cap listed companies. We deliver creative and effective solutions for brand positioning and
strategic communications across all industries, specializing in investor engagement and growth
marketing for listed and pre-IPO companies. Using our global network, we help public companies
dominate their sector amid the web and social media landscape, tell their story in an engaging manner,
and reach millions of investors around the world.
ABOUT LITHIUM CHILE:
Lithium Chile is advancing a lithium property portfolio consisting of 111,978 hectares in Chile and 20,800
hectares in Argentina.
The Company has a NI 43-101 report with an indicated and inferred resource of 2,587,000 tonnes of
lithium carbonate equivalent (LCE) from its Salar de Arizaro, Argentina project. The Phase 2
development program on the Salar de Arizaro is underway with results to be included in an updated NI
43-101 report which can be found on SEDAR.
Lithium Chile also owns 5 properties, totaling 21,329 hectares, 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-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 Michelle DeCecco, Vice President and COO, via email [email protected]
or at 403-390-9095.
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 information and forward-looking statements within the
meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking
statements can be identified by the use of forward-looking terminology such as "expected", "anticipated", "aims
to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or
results "will" occur. Such forward-looking statements are based on various assumptions and factors that may
prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the general stability of
the economic and political environment in which the Company operates and the timely receipt of required
regulatory approvals. You are cautioned that the foregoing list of material factors and assumptions is not
exhaustive. Although Lithium Chile believes that the assumptions and factors on which such forward-looking
statements are based upon reasonable assumptions, 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
anticipated by such forward-looking statements will transpire or occur, or if any of them do so, what benefits
Lithium Chile will derive therefrom. Lithium Chile 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.