Mr. Steven Cochrane reports

LITHIUM CHILE PROVIDES CORPORATE UPDATE

Lithium Chile Inc. has provided a corporate update following its Sept. 25, 2023, press release announcing the appointment of PI Financial Corp. as its corporate adviser to assist in evaluating various options on behalf of the board of the company and its shareholders.

At this stage of the Process, Lithium Chile is encouraged by the level of interest shown from third parties and looks forward to ongoing engagement with these parties in connection with a possible transaction relating to the Company's Salar de Arizaro assets in Argentina and its Chilean asset portfolio.

Lithium Chile is also investigating the potential of a restructuring initiative involving the separation of the Company's Argentinian and Chilean assets into separate independent companies. The Company believes that its current share price does not fully recognize the value of the Chilean assets and that by separating the Chilean asset portfolio from the assets in Argentina by way of a "spin-out", the Company and its shareholders may benefit from unlocking the value of the Chilean projects. Additionally, a spin-out should allow for a more straightforward transaction for third parties that are particularly interested in a transaction involving the Salar de Arizaro assets in Argentina.

Lithium Chile looks forward to providing additional updates and comprehensive details concerning the Process in the coming months.

ABOUT LITHIUM CHILE:

Lithium Chile is an exploration and lithium resource company with a property portfolio consisting of 111,978 hectares in Chile and 29,245 hectares in Argentina. The Company has filed its NI 43-101 Report and Preliminary Economic Assessment, which can be viewed on the Company's profile at SedarPlus.ca

Lithium Chile also owns 4 properties totaling 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 mega porphyry gold/ silver/copper belt.

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, please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or Michelle DeCecco, Vice President and COO via email: michelle@lithiumchile.ca.

We seek Safe Harbor.