Mr. Steve Cochrane reports

LITHIUM CHILE PROVIDES UPDATE ON CORPORATE ACTIONS

Lithium Chile Inc. has provided an update on its corporate actions.

On March 9, 2023, Lithium Chile confirmed in a news release that it had received an expression of interest for the potential acquisition of certain Lithium Chile assets. Not only have those discussions progressed, but the company has received additional interest from other unrelated third parties. As a result, Lithium Chile has now retained PI Financial Corp. as its corporate financial adviser to assist in evaluating various options on behalf of the board of the company and its shareholders.

Lithium Chile remains focused on its growth strategy, which includes the valuation of key properties and expressions of interest therein. The advancement of the company's Salar de Arizaro project and subsequent robust preliminary economic assessment (PEA) has generated various opportunities for Lithium Chile.

Steve Cochrane, president and chief executive officer, commented: "We are flattered but not surprised to have received so much interest in our assets, as they are among the best lithium salars in South America. PI Financial's appointment will help us to deliver maximum value for our shareholders."

The company cautions that there are no assurances that the evaluation of potential options to maximize shareholder value will result in the approval or completion of any specific transaction or outcome. The company does not intend to comment further, unless and until the board of directors approves a specific transaction, concludes its review, or determines that further disclosure is appropriate or required.

About Lithium Chile Inc.

Lithium Chile is an exploration and lithium resource company with a property portfolio consisting of 111,978 hectares in Chile and 20,800 hectares in Argentina. The company has filed its National Instrument 43-101 report and preliminary economic assessment, which can be viewed under the company's profile on SEDAR+.

Lithium Chile also owns four properties, totalling 21,329 hectares, that are prospective for gold, silver and copper. Exploration efforts are continuing on Lithium Chile's Carmona gold/silver/copper property, which lies in the heart of the Chilean megaporphyry gold/silver/copper belt.

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