Mr. Steven Cochrane reports

LITHIUM CHILE PROVIDES UPDATE ON SALE OF ARIZARO PROJECT

Lithium Chile Inc., with reference to its prior news releases dated Dec. 19, 2024, Jan. 15, 2025, and Feb. 20, 2025, has provided an update on the sale of its flagship Arizaro project, Argentina.

The due diligence was completed at the end of February with the first draft of the definitive agreement presented to Lithium Chile on March 3, 2025. Both parties have worked collaboratively to address questions arising from the due diligence process, revising the definitive agreement accordingly. The meetings to date have been pro-active and collaborative with both parties anxious to have the definitive agreement signed as soon as practicable.

The company recently held a highly productive in-person meeting with key representatives, including the buyer's senior executives and legal advisers. These meetings have significantly accelerated progress toward finalizing the definitive agreement, with both parties reaffirming their commitment to complete the transaction.

The buyer has requested to finalize and execute the definitive agreement, following its coming visit to Salta, Argentina. Execution of the definitive agreement will trigger key milestones, including:

• A proposed U.S.-dollar bank deposit from the buyer to the account of the company;
• Commencement of local regulatory approval processes.

The buyer's planned visit to Salta will be led by a senior management delegation, including members of the board of directors and legal counsel, representatives from the company's accountants and investment banking advisers, and local regulatory officials. The visit will include meetings with the local Argentine provincial authorities such as REMSA and the Ministry of Mining, underscoring the buyer's long-term commitment to investing in the region and building a world-class lithium production operation.

"We are encouraged by the strong alignment and momentum between both parties," said Steve Cochrane, president and chief executive officer. "This transaction is a transformational opportunity for Lithium Chile and for the Province of Salta, and we are working diligently to finalize the definitive agreement and move toward closing."

The company will provide further updates as milestones are achieved and material developments occur.

Corporate update

Lithium Chile also announces that it has entered into an arm's-length consulting agreement with a third party for the purposes of providing the company with corporate advisory services. The agreement is for one year, and the provider will be paid in four instalments of $45,000, payable in common shares of the company. The company will pay the first two instalments by issuing 169,811 shares at a deemed price of 53 cents per share, and the remaining two instalments will be paid in shares using the market price on the date of issuance. Completion of the agreement is subject to regulatory approval, including, but not limited to, the approval of the TSX Venture Exchange. The securities issued pursuant to the agreement are subject to a four-month hold period from the date of issuance.

About Lithium Chile Inc.

Lithium Chile is an exploration company with a portfolio of 11 properties spanning 107,936 hectares in Chile and 29,245 hectares on the Salar de Arizaro in Argentina. The company has advanced its Arizaro project with the completion of a National Instrument 43-101-compliant resource report followed by a preliminary economic assessment and then a prefeasibility study, all of which are accessible on SEDAR+ under Lithium Chile's profile.

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

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