LITH.V · 2018-08-23 12:00:00

Titled: "Lithium Chile Hits 480 mg/L of Lithium Brine on 1st Drill Hole at Ollague, Chile" TSX Venture Exchange: "LITH"

Exploration Programs

Clarification of August 23, 2018 News Release

Titled: "Lithium Chile Hits 480 mg/L of Lithium

Brine on 1st Drill Hole at Ollague, Chile"

TSX Venture Exchange: "LITH"

OTC-QB: LTMCF

CALGARY

Aug. 23, 2018

/CNW/ - Lithium Chile Inc. ("

Lithium

Chile

") is pleased to announce that

lithium-bearing brines have been intersected by the first of four drill holes at its wholly-owned

Ollague project located in the Antofagasta Region of

Chile

. Hole DDH-OLL-01-18 encountered an

aquifer hosting lithium-bearing brines at a depth of 110 meters which continued to a depth of 290

meters. This continuous 180-meter zone of brine returned grades of up to 480mg/L lithium. The

average grade over the last 60 meters was 470 mg/L lithium.

Steve Cochrane

, President and CEO of Lithium Chile, commented: "

Hitting such a thick and

continuous zone of lithium-bearing brine on our very first hole at Ollague is a huge testament to

the ability of our exploration team in

Chile

Hole DDH-OLL-01-18 is located in the shallower, southwestern edge of the Ollague salar and

bottomed at 300 meters. Hole # 2 was also drilled in the southwestern edge of the salar (now

completed) with assays pending. Hole # 3 (now completed) and hole # 4 (in progress) are targeting

the center of the Ollague salar where the Company anticipates that the zone will continue to deeper

depths.

The depths intersected coincide very closely with the main low conductivity zone detected by the

transient electromagnetic survey ("TEM") completed by Lithium Chile during March, 2018 (see news

release dated

April 3, 2018

) which supports Lithium Chile's interpretation that the salar is open to

significantly deeper depths.

Hole DDH-OLL-01-18

Depth (m)

K mg/l

Li mg/l

Mg mg/l

<500

233

<500

276

<500

193

110

<500

206

130

1200

150

1140

150

2000

270

2070

170

2400

260

2530

190

3500

370

3505

210

3400

360

3400

230

3600

380

3600

250

4300

460

4300

270

4500

470

4370

290

4600

480

4500

These results, obtained from an unsealed hole and therefore subject to possible dilution from fresh

water used to drill the hole and near surface fresher brines, are highly significant in Lithium Chile's

view.

As grades are increasing with depth, management is evaluating the feasibility of drilling hole #4

deeper and potentially drilling an additional hole as well to more fully evaluate the salar at deeper

depths.

Ollague Project (CNW Group/Lithium Chile Inc.)

The water samples were tested on site for salinity and conductivity and then bottled and sealed on

site and shipped to ALS Patagonia, an accredited laboratory, where they were analysed for lithium

and 25 other major and trace elements using the ICP analytical technique.

Terence Walker

, P. Geo., Vice President of Exploration and a qualified person as that term is

defined in National Instrument 43-101, has reviewed and approved the scientific and technical

disclosure in this news release.

About Lithium Chile

Lithium

Chile

is advancing a lithium property portfolio consisting of 152,900 hectares covering

sections of 14 salars and 1 laguna complex 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

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.

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, management of the

Company's views regarding assay results as well as current and subsequent drilling programs.

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 and 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 press release are expressly qualified by this cautionary

statement.

SOURCE

Lithium Chile Inc.

View original content with multimedia:

http://www.newswire.ca/en/releases/archive/August2018/23/c4091.html

%SEDAR: 00030645E

For further information:

To find out more about Lithium Chile Inc., please contact Steven

Cochrane, President & CEO

via e mail: [email protected]

or alternately, Jeremy Ross, VP

Business Development, at (604) 537-7556 or via email: [email protected].

CO: Lithium Chile Inc.

CNW 13:49e 23-AUG-18

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