Mr. Adrian Hobkirk reports

LITHIUM SOUTH FILES LCE RESOURCE NI 43-101 TECHNICAL REPORT

On Nov. 6, 2023, Lithium South Development Corp. issued and filed a technical report titled, "Updated Mineral Resource Estimate -- Hombre Muerto North Project, NI [National Instrument] 43-101 Technical Report, Catamarca and Salta, Argentina," by Dr. Mark King, PhD, PGeo, and Peter Ehren, MSc, MAusIMM, dated Sept. 5, 2023. The report was prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, on behalf of the company by independent consultant Groundwater Insight of Halifax, N.S., Canada. The report details the recently upgraded lithium resource located at the company's flagship project, the Hombre Muerto North lithium project (HMN Li project). The LCE (lithium carbonate equivalent) resource NI 43-101 technical report is available on the company's website.

The HMN Li project is composed of five salar-located claims totalling 3,287 hectares, and is located in the Salar del Hombre Muerto of Salta province, Argentina. The report covers the Alba Sabrina (2,089 hectares), Tramo (383 hectares) and Natalia Maria (115 hectares) claim blocks, within which a 1,583,200-tonne-lithium-carbonate-equivalent resource with an average grade of 736 mg/L (milligrams per litre) Li has been defined. The resource has a low magnesium (contaminant) to lithium ratio of 3.27, and 90 per cent of the resource in the measured category (highest resource classification). Additional resource potential remains to be evaluated at the Viamonte and Norma Edith claim blocks (595 hectares).

The report also provides an evaluation of the updated lithium recovery process plan for the HMN Li project brines, which uses industry-proven evaporation. An adjustment in the processing sequence will reduce lithium loss as brine entrainments in harvested salts, in the magnesium hydroxide and in calcium sulphate solids. Results to date indicate that lithium recovery of around 70 per cent, an improvement from previous recoveries of 50 per cent, should be achievable. Peter Ehren, MSc, MAusIMM, is the qualified person (QP) responsible for mineral processing.

Company president and chief executive officer, Adrian F.C. Hobkirk, is quoted: "We are very pleased with the substantial upgrade in our LCE resource at the HMN Li project and are excited to potentially achieve much higher lithium recoveries. We await the completion of our updated preliminary economic assessment, which will further evaluate our newly defined, high-quality lithium brine resource."

Dr. King, PhD, FGC, PGeo, of Groundwater Insight, is the qualified person for this work, as such term is defined by NI 43-101. Dr. King has extensive experience in salar environments and has been a QP on numerous lithium brine projects, ranging from early exploration to production. Dr. King is independent from the company, and has reviewed and approved the technical information mentioned in this press release.

About Lithium South Development Corp.

Lithium South owns 100 per cent of the Hombre Muerto North lithium project, located in Salta and Catamarca provinces, Argentina, the heart of the lithium triangle. The Hombre Muerto salar has a history of lithium production, with Livent Corp. in operation for over 25 years, in an area just south of the HMN lithium project. The HMN lithium project is surrounded by a $4-billion (U.S.) lithium development under construction by POSCO (Korea) and the Sal de Vida project under development by Allkem. Exploration work to date has delineated a National Instrument 43-101-compliant 1,583,200-tonne-LCE resource on the Alba Sabrina, Natalia Maria and Tramo claim blocks, three of five non-contiguous blocks that make up the HMN Li project. With process work under way, Lithium South is transitioning from being a lithium explorer to becoming a lithium developer.

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