Mr. Steve Cochrane reports

LITHIUM CHILE PARTNERS WITH MAJOR EUROPEAN MINING GROUP, ERAMET TO EXPLORE FOUR IF ITS CHILEAN PROPERTIES

Lithium Chile Inc. has entered into a farm-in agreement with Eramet, a renowned European mining company recognized as a global leader in metal extraction and transformation.

The signing of the agreement is proceeding in parallel with the strategic process being undertaken by PI Financial Corp. This synchronized approach underscores the company's commitment to maximizing value in all aspects of its operations.

The partnership with Eramet signifies a pivotal step for Lithium Chile as it leverages the extensive expertise and capabilities of a distinguished industry leader to expedite exploration efforts on four of the company's Chilean properties. Llamara, Aguilar, Rio Salado and Aquas Caliente are included in the agreement, which collectively cover an expansive area exceeding 40,000 hectares, showcasing significant potential for mineral exploration and development.

The agreement

Eramet will undertake an exploration program, carried out in three separate phases over the next three to four years. The total projected exploration program is in the order of approximately $20-million (U.S.). Upon completion of each phase, Eramet shall earn share capital in the joint venture holding the mining tenements, totalling up to 70 per cent at the end of phase 3 with an option to reach 100-per-cent equity.

Lithium Chile will be entitled to a bonus, preagreed by the parties, based on the amount of lithium carbonate equivalent resources delineated, in accordance with a completed National Instrument 43-101 or similar instrument.

Lithium Chile and Eramet, joint venture properties

"Eramet's unparalleled expertise and credibility further enhances our position in the mineral industry," stated Steve Cochrane, president and chief executive officer of Lithium Chile. "This partnership underscores our shared commitment to advancing sustainable mineral projects in Chile. We look forward to leveraging their capabilities to maximize the potential of our Chilean properties."

The proposed transaction between Lithium Chile and Eramet is subject to the execution of the joint venture agreement and the company receiving TSX Venture Exchange approval.

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 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 on SEDAR+.

Lithium Chile also owns five properties totalling 22,529 hectares that are prospective for gold, silver and copper.

Lithium Chile's common shares are listed on the TSX-V under the symbol LITH and on the OTCQB under the symbol LTMCF.

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