Toronto, Ontario--(Newsfile Corp. - April 4, 2024) - IberAmerican Lithium Corp. (CBOE: IBER) (OTCQB: IBRLF) ("IberAmerican Lithium" or the "Company"), a company focused on the exploration of lithium, wishes to provide an update on the progress made with respect to the regulatory advancements of the permits underlying its 100% owned Lithium Alberta & Carlota properties located in the Galicia region of northwestern Spain.

Lithium Alberta Project

A three-year extension of the investigation permit underlying the Lithium Alberta project was granted by the Xunta de Galicia ("Xunta") on October 2, 2023. From an administrative perspective, the only pending task is the legal transfer of the investigation permit No. 5186 from Strategic Minerals Spain, SLU ("SMS") to IberAmerican Lithium Spain, SLU ("IberSpain"). To date, all of the necessary documents to effect the aforementioned transfer have been submitted with the Xunta and are currently being processed.

Lithium Carlota Project

In tandem with progress at the Lithium Alberta project, the Company is poised to advance exploration initiatives at the Lithium Carlota project. The application for investigation permit No. 5191 has been transferred to IberSpain from SMS. IberSpain has submitted all requisite documentation, including an exploration plan, to the Xunta. Currently, the Company awaits the issuance of the permit, poised to commence further operations upon receipt.

Reflecting on these developments, Campbell Becher, Chief Executive Officer and Director of the Company stated, "These milestones underscore our dedication to advancing responsible resource exploration while fostering meaningful partnerships with local communities. Despite encountering a delay in the regulatory review process of the permits underlying our lithium properties, attributed to a local election, we remain committed to transparent engagement and sustainable practices as we navigate regulatory procedures in Spain and strive for operational excellence."

About IberAmerican Lithium Corp.

IberAmerican Lithium is a hard-rock lithium exploration company focused on advancing its 100% owned Alberta II & Carlota Properties located in the Galicia region of northwestern Spain. IberAmerican Lithium's properties are located in a favorable lithium district with world class infrastructure and a supportive and proactive mining jurisdiction.

Additional information on IberAmerican Lithium is available at www.iberamericanlithium.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of IberAmerican Lithium to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks Factors" in the Company's Annual Information Form dated March 26, 2024, which is available for view on SEDAR+ at www.sedarplus.ca. These risks include but are not limited to, the risks associated with the mining and exploration industry, such as operational risks in development or capital expenditures, the uncertainty of projections relating to production, and any delays or changes in plans with respect to the exploitation of the site. Forward-looking statements contained herein, are made as of the date of this press release, and IberAmerican Lithium disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

SOURCE IberAmerican Lithium Corp.

Further Information

For further information regarding IberAmerican Lithium, please contact:

Campbell Becher, Chief Executive Officer and Director
inquiries@ialithium.com
647-404-9071

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204259