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Lithium Chile Plans Second Program For Additional T.E.M And Follow Up Drilling On The Turi Prospect

 TSX Venture Exchange: “LITH”                                                                              

FOR IMMEDIATE RELEASE

CALGARY, ALBERTA- January 16, 2019- Lithium Chile Inc. (‘Lithium Chile” or the “Company”) is pleased to announce that the local Turi community has approved the Company’s plans to run additional TEM geophysical surveys and based on these results, the Company may drill up to three exploration holes on the Turi Prospect.  Turi is one of the Company’s priority prospects for the following reasons:

  1. Near surface samples show grading of up to 590 mg/l of lithium;
  2. The 100% owned 76 km2 property covers the entire salar basin;
  3. There are two active geothermal springs on the property supplying primary recharge to the basin with lithium concentrations up to 170 mg/l; and
  4. The property is accessible with good infrastructure

It is anticipated that the TEM program will commence in late January or early February.

Steve Cochrane President and CEO of Lithium Chile, commented “We are pleased to have the approval to carry out additional exploration at Turi. The support of the Turi community has made this possible and is greatly appreciated. I look forward to seeing the results of the combined talents of our exploration team under Terry Walker and our lithium operations team under Jose de Castro”

Terry Walker V.P. Exploration of Lithium Chile, commented

 

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo, qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 159,700 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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via e mail: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca .

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 the 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.

Lithium Chile Enhances Technical Team And Board Of Directors; Appoints Leading Lithium Expert, And Grants Stock Options

 TSX Venture Exchange: “LITH”

OTC-QB: “LTMCF”                                                                            

FOR IMMEDIATE RELEASE

CALGARY, ALBERTA – January 8, 2019 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce that it has appointed South American lithium expert, Jose de Castro Alem, to the Board of Directors and as Manager of Lithium Operations. Mr. de Castro is a recognized pioneer in lithium brine exploration, development and production in South America. He brings over 20 years of lithium brine experience, as well as a significant track record in the lithium triangle, to the Company’s management team. Jose de Castro Alem’s appointment is subject to regulatory approval.

Career Highlights

Orocobre Limited (“Orocobre”) – 2010-2015: Mr. de Castro was instrumental in Orocobre’s growth from a sub-$10 million market cap to over $1 billion market cap. During this time, he was responsible for everything from salar exploration to development of evaporation ponds and design/development of the initial plant. Mr. de Castro oversaw the $300 million-dollar lithium carbonate plant from definitive Feasibility Study until complete commercial operation. Mr. de Castro was also extensively involved with building relationships with local communities through to the senior levels of government. He was also involved in the successful joint venture between Orocobre and Japan based Toyota Tsusho Group.

NRG Metals Inc. – 2016-2018: Mr. de Castro was Vice President Operations for NRG Metals Inc. and played a key role in NRG Metals’ initial 43-101 lithium carbonate resource report.

FMC Corporation (“FMC”) – 1997-2003: During his years with FMC, Mr. de Castro was responsible for the lithium operations and production from the solar evaporation ponds, and lithium carbonate production from the processing plant.

Jose de Castro is a graduate of the National University of Salta, Argentina, with a degree in Chemical Engineering.

Steve Cochrane President and CEO of Lithium Chile, commented, “Jose de Castro is one of the leading lights in the South American lithium space and we are delighted that he has agreed to join us as both Manager of lithium operations and Board Director. Lithium Chile has an exceptional technical team and one of the largest lithium portfolios in Chile. With the additional expertise that Jose brings to the Company, we are looking forward to a very active and productive year ahead.

Jose de Castro Alem Manager of Lithium Operations commented, “I am very pleased to join Lithium Chile because of their outstanding portfolio of lithium prospects, their exceptional exploration team, and the new possibilities in Chile. Northern Chile is one of the most mining friendly jurisdictions in the world, with clear rules and great infrastructure. I look forward to working with Lithium Chile’s management team in advancing their projects quickly and efficiently.”

The Company also announces the granting of stock options to purchase a total of 700,000 common shares of the Company, an option to purchase 400,000 common shares to Mr. de Castro and an option to purchase 300,000 common shares to a consultant, subject to regulatory approval. The options were issued with an exercise price of $0.52 per share, vest as to one half (1/2) immediately and the remaining one half (1/2) on the first anniversary of the grant date and expire five years from the grant date.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 159,950 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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca .

 

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 news release.

Forward Looking Statements

This news release may contain certain forward-looking information and statements, including without limitation obtaining regulatory approval for the appointment of Jose de Castro Alem and the granting of the stock options.  All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties.  There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking statements.  A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Lithium Chile’s disclosure documents on the SEDAR website at www.sedar.com.  Lithium Chile does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Lithium Chile Continues To Intercept Lithium Brines On It’s Olllague Drill Program

CALGARY ALBERTA, October 11, 2018- Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce it has encountered lithium bearing brines in three additional drill holes at its wholly owned Ollague Project, Chile. Results for OLL-01-18, OLL-02-18, OLL-03-18 and OLL-04-18 are outlined in the table below. Drilling continues to confirm the reliability of TEM geophysical profiles in identifying the brine carrying highly conductive zones. In addition, the drilling suggests that lithium grades increase with depth.

Main Low Resistivity TEM Zone Lithium Grade Variation with Depth
OLL-01-18 OLL-03-18 OLL-04-18
Depth (m) Li mg/l K mg/l Mg mg/l Depth (m) Li mg/l K mg/l Mg mg/l Depth (m) Li mg/l K mg/l Mg mg/l
150 270 2000 2070 190 210 3000 4460 190 210 2700 3810
170 260 2400 2530 210 200 2800 4180 210 250 2500 3230
190 370 3500 3505 230 200 2700 3690 230 220 2600 3320
210 360 3400 3400 250 210 2800 3790 250 270 3300 3490
230 380 3600 3600 Zone open to depth Zone open to depth
250 460 4300 4300
270 480 4500 4500
Base of Zone 290m

 

Holes three and four were drilled on the northern block approximately 10 kms from hole one. These holes were located in the center of the salar rather than on the edge like holes one and two. The TEM surveys indicated that the conductive target zone was deeper in this sector of the north block. These brines tested lithium grades starting at 150 mg/l and increasing to 270 mg/l when the holes reached their 250 meters contracted depth. These grades were comparable to the grades seen in the upper 50-70m of the same TEM zone encountered in hole one. These improving grades as holes three and four were drilled deeper reinforces the company’s decision to test the deeper limits of the aquifer by drilling hole five.

Main Low Resistivity TEM Zone Lithium Grade Variation with Depth
  OLL-02-18  
  Depth

(m)

Li

mg/l

K

mg/l

Mg

mg/l

 
150 220 2600 1200
170 230 2800 2520
  Zone open to depth  

 

Hole two was drilled two kms south of hole 1 and entered the top of the structure at approximately 130 meters. Grades were increasing from 100 mg/l to 230 mg/l at 170 meters when the drill rods became jammed in the lose sand and gravels of the formation. Subsequent efforts to release the rods involving the pumping of large quantities of fresh water into the hole rendered further samples meaningless. Eventually the hole was abandoned as the rods were unable to be freed.

Steve Cochrane President and CEO of Lithium Chile commented “We are extremely pleased that our drilling program continues to show good lithium grades. The fact these grades improve with the depth of the holes justify the company’s decision to target the much deeper zones on hole five. It is also important to note that with the drilling of holes one and two we have identified a 4 km2 zone on our southern block and with holes three and four a 10 km2 zone on our larger norther block with significant lithium grades”.

Hole number 5 has been drilled to a total depth of 354 meters where complications with the drilling forced the abandonment of the hole. Samples were collected from 170 meters with the last sample having been taken at 350 meters. These samples will now be sent to ALS for analysis.

Lithium Chile is also pleased to announce that the rig is now being mobilized from Ollague to the Salar de Coipasa in anticipation of our next drill program getting underway soon. Coipasa at 12,900 is our second largest property in the Andean lithium belt.

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo, qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release. Individual brine samples were collected at 20m intervals down hole bye means of a double valve bailer after the hole had been flushed. The brine samples were collected in new 1 litre screw top sterile bottles that were sealed and tagged at the sample site. All samples were shipped to ALS Patagonia Laboratories, La Serena, Chile, where they were prepared and then subsequently shipped to the ALS Laboratory in Vancouver, Canada where the brine analyses were performed.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 155,800 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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via e mail: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca .

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.

Lithium Chile has retained Nice Vice Capital Inc to provide marketing services.

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 the 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.

LITHIUM CHILE ANNOUNCES DRILLING PLANS FOR A 5TH HOLE TO 500 METERS ON OLLAGUE PROPERTY

 TSX Venture Exchange: “LITH”                                                                              

FOR IMMEDIATE RELEASE

LITHIUM CHILE ANNOUNCES DRILLING PLANS FOR A FIFTH HOLE TO FIVE HUNDRED METERS ON OLLAGUE PROPERTY

 CALGARY, Alberta, September 5, 2018 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to provide an update on their current drilling program. Based on strong indicators from their first four exploration holes on their Ollague prospect, Lithium Chile has been approved for a fifth hole that will extend the drilling depth from 250 meters to 500 meters.

Four exploration holes were originally planned and have now been successfully completed at Ollague. Results from the first hole were disclosed in a News Release dated August 23, 2018 and results from the remaining three holes are pending. Lithium Chile encountered grades in the brine in the first hole ranging up to 480 mg/l lithium with grades steadily increasing from 120 meters to its final depth of 300 meters. The first and second holes were drilled on the edge of the Ollague salar while holes three and four moved into the center of the basin.

Holes 3 and 4 were completed to a depth of 250 meters and were still in a porous brine formation when drilling was suspended as per the surface rights contract negotiated with the community of Ollague. Data collected at the drill sites indicated high salinity brines beginning at approximately 150 meters and open at depth at the time drilling was suspended.

Based on these indicators, Lithium Chile has made the decision to pursue a 5th hole in the center of the basin and north of holes three and four. Surface access has been successfully negotiated resulting in road and pad construction being completed over the past weekend with drilling planned to commence on Tuesday, September 4th.  The top 50 meters of this fifth hole will be cased with a surface casing to prevent up hole caving and to reduce the amount of contamination of the deeper brine targets from near surface freshwater zones. The target depth on the fifth hole is 500 meters which will allow Lithium Chile to test the deeper levels of the salar.

Steve Cochrane President and CEO of Lithium Chile commented: “Drilling a fifth hole at Ollague not only reflects the encouraging data we have collected on our first four holes but also reflects our belief that Ollague has the potential to be an exciting new lithium discovery”.

DRILLING PLANS FOR A 5TH HOLE TO 500 METERS
ON OLLAGUE PROPERTY

This news release has been reviewed by Terence Walker, P. Geo., Vice President of Exploration and a qualified person as that term is defined in National Instrument 43-101.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 155,800 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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO   via e mail: steve@lithiumchile.ca  or alternatively, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca .

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 the 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.

LITHIUM CHILE HITS 480 MG/L OF LITHIUM BRINE ON 1ST DRILL HOLE AT OLLAGUE, CHILE

TSX Venture Exchange: “LITH”  OTC-QB: LTMCF 

For Immediate Release

LITHIUM CHILE HITS 480 MG/L OF LITHIUM BRINE ON 1ST DRILL HOLE AT OLLAGUE, CHILE

CALGARY, Alberta, August 23, 2018 – 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. I am extremely pleased that in our first exploration hole we have returned values that rival the average grades in Argentina. I am delighted that we have made a potentially significant lithium discovery at the very start of our drilling activity.”

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

As this was an unsealed exploration hole which was drilled with fresh water, the samples values presented above are likely to have been diluted by drilling fluids and fresher up hole water.  Nevertheless, these results are highly significant in Lithium Chile’s view.

As a result of these significant results and the fact that grades are increasing with depth, management is evaluating the feasibility of drilling hole #4 deeper and potentially drilling another hole as well to more fully evaluate the salar at deeper depths.

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

This news release has been reviewed by Terence Walker, P. Geo., Vice President of Exploration and a qualified person as that term is defined in National Instrument 43-101.

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”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President & CEO  via email: steve@lithiumchile.ca  or alternatively, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email:jeremy@lithiumchile.ca https://www.lithiumchile.ca/

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.

 

 

 

 

 

 

 

 

Lithium Chile Commences Drilling At Ollague, Chile

CALGARY, Alberta, June 28, 2018 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce that it has commenced a four-hole drill program at its Ollague project in Chile, where a recently-completed sampling program encountered lithium brines assaying from 160mg/l to a high of 1220mg/l.

Holes will be drilled to a minimum 250 metres (m) or deeper based on drilling conditions and brine content. The drill rig will run 24 hours per day.

Drilling will focus on high priority conductive targets identified in the recent transient electromagnetic survey (TEM) (see news release dated April 3, 2018). The survey indicated these conductive units to be open-ended horizontal zones varying from 20 to over 200 m in thickness and within 20 to 120 metres of the surface. The company believes these low resistivity zones reflect saline aquifers. A recently re-entered 110m deep water well just outside the property border was flushed, allowed to recharge then sampled. The brine samples that were collected, contained 1220 mg/l of lithium.

Steve Cochrane, President and CEO of Lithium Chile, commented, “After amassing one of the largest lithium land packages in Chile, we have now begun drilling on one of our more advanced projects which have had sampling and geophysics completed on them. The new government has been clear in its support for the lithium sector and we are similarly encouraged by the strong community support we have received.  This is an exciting new growth phase for the Company and our goal is to maximise our early-mover exploration advantage in Chile.”

Ollague Project Highlights

  • 3500 hectares on the Salar de Ollague.
  • Located near the town of Ollague and close to infrastructure.
  • Comprehensive sampling program has encountered near-surface lithium brines assaying from 160 to 1220mg/L lithium.
  • Testing has shown good chemistry, which is an important factor in economic lithium production (Li:K ratio 0.1:1, Mg:Li ratio 7:1).
  • The property-wide TEM geophysical survey has identified multiple, large, high-priority target areas.
  • Recent, old water well sampling has encountered subsurface lithium-bearing brines assaying 180 to 1220 mg/l lithium.

Data collection will include lithology and depth-specific geochemical samples. Brine sampling will be completed using both drive point and hydraulic double packer systems, which have been tested and proved to provide a true depth-specific sample in addition to flow and porosity characteristics.

Subsequent Drilling Programs

Upon completion of the initial four-hole Ollague drilling program, it is the Company’s intention to complete a similar drilling program of four holes on each of the other four advanced projects, all in continuous succession, such that drilling is expected to continue for until late into Q3, 2018.

This news release has been reviewed by Terence Walker, P. Geo., Vice President of Exploration of the Company and a qualified person as that term is defined in National Instrument 43-101.

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.  The properties include 64 square kilometres on the Salar de Atacama which hosts the world’s highest concentration lithium brine production and is currently the source of approximately 30% of the world’s lithium production.  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 at (403) 853 7117 or via email: steve@lithiumchile.ca  or alternatively, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: info@lithiumchile.ca.

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 the 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; and 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.