Lithium Chile Signs Agreement with Summit Nanotech to Advance Technology FOR Green Lithium Extraction
LITHIUM CHILE SIGNS AGREEMENT WITH SUMMIT NANOTECH TO ADVANCE
TECHNOLOGY FOR GREEN LITHIUM EXTRACTION
TSX Venture Exchange: LITH For Immediate Release
OTC-QB: LTMCF
CALGARY, ALBERTA, June 16, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “ Company”) is
pleased to announce it has signed a Letter of Intent (LOI) with Summit Nanotech Corporation
for the advancement of their green lithium extraction technology in Chile. Summit Nanotech
has developed a patent pending extraction process that allows for the rapid production of
lithium from natural brine sources. Its technology is state of the art and shows great promise
for the economical production of lithium while significantly reducing the overall environmental
impact of lithium mining. The collaboration will set new standards for responsible lithium
production, which is growing more important given the global rise in demand for lithium ion
batteries for renewable energy and electric vehicles.
The agreement will make Lithium Chile the preferred industry partner for the production of
lithium from any discoveries related to its Chilean prospects . Summit Nanotech will be the
preferred extraction technology provider on all of Lithium Chile ’s lithium prospects. While the
agreement is non -exclusive the intention is to work to gether to d evelop Lithium Chile ’s
prospective lithium properties and field trial Summit Nanotech’s extraction process.
“This will be the inaugural field test for our DenaLi 1.0 DLE process and is an important step in
proving the technology on the path to commercialization,” said Amanda Hall, CEO and Founder
of Summit Nanotech. “We are thrilled to be piloting our technology with Lithium Chile . Their
broad expertise in exploration, consistency in governance and strong relationships within Chile
- especially with respect to indigenous communities - is crucial for the sustainable development
of these assets .” Hall, recognized as a leading innovator in her fie ld, is a finalist in Canada ’s
Women in Cleantech Challenge, run by MaRS in collaboration with Natural Resources Canada.
“Over the last 2 years we have looked at a number of emerging technologies for the economical
and green extraction of lithium at the we ll head. I truly believe the future of lithium production
from brines will be technology driven and Summit’s technology is one of the most exciting
emerging process es we have seen ,” commented Steve Cochrane, President and CEO of
Lithium Chile.
Together, Summit Nanotech and Lithium Chile have been chosen as part of a consortium in the
final stages of a USD $4-million grant proposal to the Chilean Government Agency, CORFO.
.
2
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 also owns a property portfolio that is prospective for gold, silver and copper and
lie within the main Chilean mega porphyry copper-gold belt. Included is the Carmona property
which where an exploration program is planned shortly.
Lithium Chile’s common shares are listed on the TSX -V under the symbol " LITH” and on the
OTC-QB under the symbol “LTMCF”.
About Summit Nanotech
Summit Nanotech is a Calgary -based cleantech company which uses nanoscience to directly
extract lithium from brine sustainably. Its proprietary DenaLi 1.0 DLE process is scalable,
requires no fresh water, doubles yield and reduces the use of chemicals and production of
waste by 90% while rapidly producing high -purity lithium products. The company is on National
Angel Capital Organization’s Top 30 Most Promising Startups list and has won awards at Energy
New Ventures and Inventures. For more information contact Amanda Hall, CEO and Founder ,
[email protected] or visit www.summitnanotech.ca.
To find out more about Lithium Chile Inc., please contact Steven Coch rane, President and CEO
via email: [email protected] or alternately, Jeremy Ross, VP Business Development, at (604)
537-7556 or via email: [email protected]. Lithium Chile’s Chilean contact is Terry 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
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 conta ins forward -looking statements relating to, among other things, expectations related to the LOI with Summit
Nanotech.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material factors an d
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 and the results from such prospects. Accordingly, readers should not place undue reliance on forward -looking
statements. The Company doe s 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.