Lithium Chile Provides Update ON Sale of Arizaro Project
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LITHIUM CHILE PROVIDES UPDATE ON SALE OF ARIZARO PROJECT
TSX Venture Exchange: LITH For Immediate Release
OTC-QB: LTMCF
CALGARY, ALBERTA, April 9, 2025 – Lithium Chile Inc. (“Lithium Chile” or the “Company”), with
reference to its prior new releases dated December 19, 2024, January 15, 2025, and February
20, 2025, is pleased to provide an update on the sale of its flagship Arizaro project, Argentina.
The due diligence was completed at the end of February with the first draft of the d efinitive
agreement (the “Definitive Agreement”) presented to Lithium Chile on March 3 rd, 2025. Both
parties have worked collaboratively to address questions arising from the due diligence process,
revising the Definitive Agreement accordingly. The meetings to date have been proactive and
collaborative with both parties anxious to have the Definitive Agreement signed as soon as
practicable.
The Company recently held a highly productive in -person meeting with key representatives
including the Buyers ’ senior executives and legal advisors. These meetings have significantly
accelerated progress toward finalizing the Definitive Agreement, with both parties reaffirming
their commitment to complete the transaction.
The Buyer has requested to finalize and execute the Definitive Agreement, following their
upcoming visit to Salta, Argentina. Execution of the Definitive Agreement will trigger key
milestones, including:
• A proposed US Dollar bank deposit from the Buyer to the account of the Company.
• Commencement of regulatory approval processes.
The Buyer’s planned visit to Salta will be led by a senior management delegation including
members of the Board of Directors and legal counsel, representatives from the Company’s
accountants and investment banking advisors, and local regulatory officials. The visit will include
meetings with the local Argentine provincial authorities such as REMSa and the Ministry of
Mining, underscoring the Buyer’s long-term commitment to investing in the region and building
a world-class lithium production operation.
“We are encouraged by the strong alignment and momentum between both parties,” said Steve
Cochrane, President & CEO. “This transaction is a transformational opportunity for Lithium Chile
and for the Province of Salta, and we are working diligently to finalize the definitive agreement
and move toward closing.”
The Company will provide further updates as milestones are achieved and material
developments occur.
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Corporate Update
Lithium Chile also announces that it has entered into an arm’s length consulting agreement (the
“Agreement”) with a third party (the “Provider”) for the purposes of providing the Company
with Corporate Advisory Services. The Agreement is for one year and the Provider will be paid
in four instalments of $45,000, payable in Common Shares of the Company (the “Shares”). The
Company will pay the first two instalments by issuing 169,811 Shares at a deemed price of $0.53
per Share, and the remaining two instalments will be paid in Shares using the market price on
the date of issuance. Completion of the Agreement is subject to regulatory approval including,
but not limited to, the approval of the TSX Venture Exchange. The securities issued pursuant to
the Agreement are subject to a four month hold period from the date of issuance.
ABOUT LITHIUM CHILE
Lithium Chile Inc. is an exploration company with a portfolio of 11 properties spanning 107,936
hectares in Chile and 29,245 hectares on the Salar de Arizaro in Argentina. The Company has
successfully advanced its Arizaro project with the completion of an NI 43 -101 compliant
Resource Report followed by a Preliminary Economic Assessment and then a Prefeasibility
Study, all of which are accessible on SedarPlus.ca under Lithium Chile’s profile.
Lithium Chile’s common shares are listed on the TSX -V under the symbol “LITH” and on the
OTCQB 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, COO via email: [email protected] or
phone: 587-393-1990.
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 AND RISK FACTORS:
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 us ing 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.
Such statements include statements with respect to : (i) closing of the proposed sale remains subject to
significant risks including obtaining necessary regulatory body approvals including that of the TSX Venture
Exchange; (ii) Closing also remains subject to the completion of Definitive Agreements in form satisfactory
to the parties to the transaction and remains subject to the planned site visit by the Buyer; (iii) the visit
will include meetings with the local Argentine provincial authorities such as REMSa and the Ministry of
Mining; (iv) the Buyer’s long -term commitment to investing in the region and building a world -class
lithium production operation; (v) the proposed US Dollar bank deposit from the Buyer to the account of
the Company; (vi) c ommencement of the local Argentine regulatory approval process and the Buyer’s
local regulatory approval process ; (vii) the expectation that the transaction is a transformational
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opportunity for Lithium Chile and for the Province of Salta ; (viii) completion of the Agreement is subject
to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange .
Readers are cautioned that the foregoing risk factors are not exhaustive. 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 forward -looking statements will transpire or
occur, or if any of them do, what benefits Lithium Chile will derive th erefrom. Similarly, the risk factors
listed above are not exhaustive and other risk factors that have not been anticipated may become
apparent as Lithium Chile proceeds to c losing of the proposed sale of the Arizaro project . Lithium Chile
does not underta ke 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.