The Case on Lithium

INTRODUCTION

Lithium is one of the most critical metals in modern industry, with uses ranging from aeronautics with light lithium alloys to medicine. The most important usage nowadays is Lithium-ion Batteries (LIBs), offering long term relevance. Lithium has been gaining investor interest, largely due to forecast demand growth in the rechargeable LIBs market. The price of lithium has been falling since its peak in April 2018 (Figure 1) at $20,000 per Metric Ton, due to speculated oversupply and a slower rise of demand than predicted.

This report gives an overview of the lithium industry: what lithium is and what its uses are; the extraction methods, innovations in the extraction market and the various lithium products; where the lithium resources are; alternatives to lithium in LIBs and renewable energy storage; future lithium demand and the investment case, with respect to the supply and demand factors in the market.

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Lithium Chile’s Expanded Carmona Gold Property Continues To Return High Grade Gold And Silver Grades Up To 21.4 Gms/tonne Gold And Up To 329 Gms/tonne Silver From Second Sampling Program

CALGARY, ALBERTA, September 17, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce it has received assay results from the second set of samples taken from its 100% owned Carmona gold and silver property. These assay results are from samples taken on additional claims recently staked which are adjacent to the Company’s existing Carmona claims. The highlights are as follows:

• Assays are from initial reconnaissance rock and sediment sampling eight kilometers west of the main Carmona claims on newly acquired Carmona-Garillas claims block.
• Assays results from rock chip samples range from 1.4 -21.4 g/tonne gold and 3-329 g/tonne of silver.
• The area of the claims sampled to date covers a three-square km zone of hydrothermal alteration containing gold-silver rich veins and breccia zones hosting several active artisanal workings.

The Company is extremely pleased with these initial positive results and plans to immediately conduct detailed infill sampling on additional areas to the west such that the balance of the claim block area has been sampled. During the Company’s recent exploration program of detailed geological mapping and sediment and rock sampling, an additional 380 samples were taken over the south zone of the main Carmona claim block. Assay results from this second phase program are expected over the next 30 days.

Steve Cochrane, President and CEO of Lithium Chile commented, “We are extremely pleased to see such good gold and silver grades coming out of our current Carmona exploration program. We see significant potential in this property and these recent assay results continue to reinforce our expectations.”

The Company also wishes to provide an update of the current situation in Chile as it relates to the COVID 19 Pandemic. While a state of emergency still exists in Chile with restrictions on-road travel and health checks in certain communities and at border crossings, some communal restrictions are being lifted. Airports are now open and domestic flights are being made throughout the country although on a reduced schedule. Santiago is returning to relative normality and it is anticipated the Chilean Courts will re-open to allow for more cases to be heard. With restrictions slowly being lifted throughout the country, Lithium Chile hopes that its Coipasa compensation hearing will proceed early this fall.

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo, qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release. During the course of the exploration program all samples were collected by experienced Lithium Chile staff. Each soil sediment sample was sieved in the field to obtain approx. I kg of 18 mesh fines which was bagged and sealed on site. Each rock sample consisted of 1 -1.5 kg of representative chips taken continuously from outcrop or across mineralized structures, was bagged and sealed on site. All samples were delivered by Lithium Chiles staff to the ALS prep-lab in La Serena for processing. ALS subsequently shipped 30g sub-samples of pulp to their laboratory in Lima, Peru where they were analyzed for gold by fire assay pre-concentration, AA finish and 35 other elements including copper and silver, by the ICP technique following Agua Regia digestion.

About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 71,900 hectares covering sections of 10 salars and two laguna complexes in Chile.

Lithium Chile now also owns 5 properties that are prospective for gold, silver, and copper. The Carmona property lies in the heart Chilean Mega Porphyry copper, gold, and silver belt.

Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-BB under the symbol “LTMCF”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or alternately, Jeremy Ross, Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca. Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: twalker@goldenrock.cl.

Lithium Chile Anounces 26 Gms/tonne Gold And 256 Gms/tonne Silver From Initial Programme On Its 100% Owned Carmona Property

CALGARY, ALBERTA, September 3, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce it has received assay results from the first batch of samples taken from its 100% owned Carmona gold-silver property. These initial sample results support the potential for Carmona to host a number of gold/silver-bearing zones. There were a number of high-grade intercepts identified from this initial sampling program. The highlights are as follows:
• Gold and silver values from rock samples range from 0.5 to 26.2 g/t gold and 2.1 to 256 g/t silver;
• Highest grade sample of 26.2 g/t gold is from a newly discovered zone within the northern half of a 13 km2 central area;
• Phase 1 samples are from the central core alteration zone which lies along a structural axis through the central portion of the property;
• Anomalous samples cluster into three main areas from six to 13 km2 and totaling 26 km2;
• The southernmost area includes several old mine workings and rock samples from some of these workings ranged from 12.4 to 18.3 g/t gold and 95.4 to 231 g/t silver over widths of 1.5 to 2.0 meters

The Company expects to receive assays from an additional batch of rock samples by mid-month. The exploration team returned to the property on August 28 to start the phase 2 detailed follow up sampling and trenching program on an expedited basis.

Steve Cochrane, President, and CEO of Lithium Chile comments, “We are extremely pleased with the initial sample results from our Carmona gold/silver prospect. These early samples confirm the potential for Carmona to host a number of gold/silver deposits. We now have an expanded exploration program on the property underway and look forward to additional results soon. With the high level of interest in gold these days and indeed Lithium Chile’s gold properties, it is our intention to advance exploration development on these prospects as quickly as possible.”

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo, a qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this news release. During the course of the exploration program, all samples were collected by experienced Lithium Chile staff. Each sediment was sieved in the field to obtain about I kg of -18 mesh fines, bagged and sealed on site. Each rock sample consisted of 1 -1.5 kg of representative chips taken continuously from outcrop or across mineralized structures, was bagged and sealed on site. All samples were delivered by Lithium Chiles staff to the ALS prep-lab in La Serena for processing. ALS subsequently shipped a 30g sub-sample pulp to their laboratory in Lima, Peru where they were analyzed for gold by fire assay pre-concentration, AA finish, and 35 other elements, including copper and silver, by the ICP technique following Agua Regia digestion.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 110,280 hectares covering sections of 11 salars and two laguna complexes in Chile.

Lithium Chile now also owns 5 properties that are prospective for gold, silver and copper. The Carmona and La Fortuna properties lie in the heart of the Chilean Maricunga gold belt.

Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-BB under the symbol “LTMCF”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or alternately, Jeremy Ross, Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca. Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: twalker@goldenrock.cl.

Lithium Chile Announces Tsx Approval For Joint Venture With Apollo Gold On Apolo And Sancarron Gold Properties

CALGARY, ALBERTA, August 12, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce it has been notified by Apollo Gold (APGO-V) that the TSX has approved their joint venture agreement on the Apolo and Sancarron prospects as announced in an Apollo Gold press release dated April 2, 2020. The approval will allow for Apollo’s exploration program to commence as soon as possible, and the second payment of $50,000 to be made to Lithium Chile.

As announced in a Lithium Chile press release dated April 8th, the company entered into a joint venture agreement, dated March 25 2020, where Apollo gold had the right to earn up to 90% in the Apolo and Sancarron concessions by making total cash payments to Lithium Chile of $1,350,000 and incurring an aggregate $5,000,000 of expenditure on the properties over a maximum of 5 years.

It is currently anticipated that Apollo Gold will launch an initial work program on the properties in November of 2020 to coincide with spring in Chile. This initial program is designed to test and expand on prior sampling programs undertaken on the properties.

Steve Cochrane, President, and CEO of Lithium Chile comments, “We are excited now that Apollo Gold has received final approval from the TSX on our joint venture agreement. We look forward to Apollo’s work program as it will help support our belief in the exploration potential of not only Apolo and Sancarron but all of our properties.”

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 110,280 hectares covering sections of 11 salars and two laguna complexes in Chile.

Lithium Chile also owns the Carmona and La Fortuna gold-silver-copper properties that lie on the western flank of Chile’s Mega porphyry copper-gold belt.

Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-BB under the symbol “LTMCF”.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President, and CEO via email: steve@lithiumchile.ca or alternately, Jeremy Ross, Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca. Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: twalker@chilelithium.cl.

Lithium Chile Signs Agreement With Summit Nanotech To Advance Technology For Green Lithium Extraction

CALGARY, ALBERTA, June 16, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce it has signed a Letter of Intent (LOI) with Summit Nanotech Corporation for the advancement of their green lithium extraction technology in Chile. Summit Nanotech has developed a patent pending extraction process that allows for the rapid production of lithium from natural brine sources. Its technology is state of the art and shows great promise for the economical production of lithium while significantly reducing the overall environmental impact of lithium mining. The collaboration will set new standards for responsible lithium production, which is growing more important given the global rise in demand for lithium ion batteries for renewable energy and electric vehicles.

The agreement will make Lithium Chile the preferred industry partner for the production of lithium from any discoveries related to its Chilean prospects. Summit Nanotech will be the preferred extraction technology provider on all of Lithium Chile’s lithium prospects. While the agreement is non-exclusive the intention is to work together to develop Lithium Chile’s prospective lithium properties and field trial Summit Nanotech’s extraction process.

“This will be the inaugural field test for our DenaLi 1.0 DLE process and is an important step in proving the technology on the path to commercialization,” said Amanda Hall, CEO and Founder of Summit Nanotech. “We are thrilled to be piloting our technology with Lithium Chile. Their broad expertise in exploration, consistency in governance and strong relationships within Chile – especially with respect to indigenous communities – is crucial for the sustainable development of these assets.” Hall, recognized as a leading innovator in her field, is a finalist in Canada’s Women in Cleantech Challenge, run by MaRS in collaboration with Natural Resources Canada.

“Over the last 2 years we have looked at a number of emerging technologies for the economical and green extraction of lithium at the well head. I truly believe the future of lithium production from brines will be technology driven and Summit’s technology is one of the most exciting emerging processes we have seen,” commented Steve Cochrane, President and CEO of Lithium Chile.

Together, Summit Nanotech and Lithium Chile have been chosen as part of a consortium in the final stages of a USD $4-million grant proposal to the Chilean Government Agency, CORFO.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 110,280 hectares covering sections of 11 salars and two laguna complexes in Chile.

Lithium Chile now also owns 5 properties that are prospective for gold, silver and copper. The Carmona and La Fortuna properties lie within the main Chilean mega porphyry copper-gold 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”.

About Summit Nanotech

Summit Nanotech is a Calgary-based cleantech company which uses nanoscience to directly extract lithium from brine sustainably. Its proprietary DenaLi 1.0 DLE process is scalable, requires no fresh water, doubles yield and reduces the use of chemicals and production of waste by 90% while rapidly producing high-purity lithium products. The company is on National Angel Capital Organization’s Top 30 Most Promising Startups list and has won awards at Energy New Ventures and Inventures. For more information contact Amanda Hall, CEO and Founder, amanda@summitnanotech.com or visit www.summitnanotech.ca.

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President and CEO via email: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca. Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: twalker@chilelithium.cl.

Lithium Chile Closes Final Tranche Of Fully Subscribed Private Placement

LITHIUM CHILE CLOSES FINAL TRANCHE OF FULLY SUBSCRIBED PRIVATE PLACEMENT

CALGARY, ALBERTA, June 11, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”} is pleased to announce it has closed on the final $745,000 of its previously announced $1,500,000 private placement of units (the “Offering”}. The Offering was fully subscribed and the closing of this final tranche now provides the Company with the necessary funds to move forward on its business and exploration plans. The Company plans to initiate its exploration program on its Carmona gold/silver prospect by the end of the month. The initial program will consist of geological mapping and sampling of the largest of four, 2 -4 km2 high sulphidation epithermal gold-silver bearing alteration zones with historic mine production grades from 0.5-1.Sm wide veins of 50 -76 g/t gold plus 780 -1,153 g/t silver. This initial work program is scheduled until the end of August as weather permits.

The Company plans to move its exploration team from the Carmona property to its Laguna Blanca lithium/cesium prospect upon completion or the Carmona exploration program. The exploration program planned for Laguna Blanca is designed to further delineate the resource potential of the 8+ km2 area of cesium and lithium enriched salt deposits identified in the late 2018 reconnaissance geochemical sampling program.

Pursuant to the final tranche of the Offering, Lithium Chile paid cash commissions to qualified non-related parties of $60,800 and issued 608,000 broker warrants (the “Broker Warrants”}. Each Broker Warrant entitles the holder to acquire one common share of the Company at a price of $0.10 per Broker Warrant for a period of 12 months from the date of issuance.

Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The securities issued are subject to a four-month hold period from the date of the closing of the Offering.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 110,280 hectares covering sections of 11 salars and two laguna complexes in Chile.
Lithium Chile now also owns a property portfolio that is prospective for gold, silver, and copper including the Carmona property which lies on the western flank of Chile’s Mega Porphyry Copper­Gold Belt upon which exploration work is to commence.

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

To find out more about Lithium Chile Inc., please contact Steven Cochrane, President, and CEO via email: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at {604} 537-7556 or via email: jeremy@lithiumchile.ca. Chilean contact is Terry Walker, VP Exploration at {011) 562 2455-6473 or via email: twalker@chilelithium.cl.

Lithium Chile Secures Option to Explore its Apolo and Sancarron Gold Properties

April 8, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce that it has entered into an option agreement with Inform Resources Corp. (“Inform”) whereby Inform can earn up to 65% in Lithium Chile’s Apolo/Sancarron prospects (the “Properties”) by paying up to $600,000 to Lithium Chile and investing a minimum of $3,000,000 into the properties over a three (3) year period. This is an important transaction for Lithium Chile as it demonstrates the ability to get a transaction done on its recently reacquired portfolio of gold/silver/copper properties.

Under the terms of a conditional agreement effective March 30, 2020 (the “Option Agreement”), Inform will pay Lithium Chile $50,000 upon signing of the Option Agreement, $50,000 within 7 business days of TSX Venture Exchange Inc. (the “Exchange”) approval of the Option Agreement and $100,000, $150,000 and $250,000 on or before the first, second and third anniversaries following Exchange approval. Inform must also incur $3,000,000 of expenditures on the properties before its 65% interest is earned. Those expenditures are as follows: $500,000, $1,000,000, and $1,500,000 during the first, second, and third anniversaries of Exchange approval of the Option Agreement.

Inform may earn an additional 25% interest in the Properties for a total interest of 90%. To earn this additional 25% interest, Inform must make additional cash payments to Lithium Chile totaling $750,000 as follows: $250,000 and $500,000 three and four years following Exchange approval. Inform must also incur aggregate additional expenditures of $5,000,000 on the properties within the five year period following Exchange approval to earn the additional interest.

Steve Cochrane, President, and CEO of Lithium Chile commented that “This is a great opportunity for the shareholders of Lithium Chile. The option with Inform Resources is just the type of deal we were hoping for when we reacquired our gold and copper/gold properties. The transaction puts non-dilutive capital into Lithium Chiles’ bank account while at the same time putting exploration dollars into two of our prospective gold prospects. Two of our gold projects will now advance while at the same time provide Lithium Chile with additional funds to focus on our lithium exploration projects. We intend to seek partners for our other gold and copper properties if possible”.

It should be noted that the retransfer of the gold/silver/copper properties to Lithium Chile is subject to a binding agreement with Kairos Metals Corp. with closing awaiting final regulatory approvals. The Option Agreement remains subject to the closing of that agreement.

Turi samples returned lithium concentrations from the first hole drilled. However, the grades were not considered commercial. While the second drill location is considered more prospective, a decision to drill remains under review.

Lithium Chile also announces the retirement of Mr. Robert Gillies, the Company’s CFO, together with the appointment of Ms. Jana Lillies into that position. We thank Mr. Gillies for his contribution to Lithium Chile and wish him the best of luck in his future endeavours.

The contents of this news release have been reviewed by Terence Walker, P. Geo., Vice President of Exploration of the Company and a qualified person as that term is defined in National Instrument 43-101.

About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 162,616 hectares covering sections of 11 salars and two laguna complexes in Chile.
Lithium Chile is in the process of reacquiring properties that are prospective for gold, silver and copper. The Apolo and Sancarron properties lie within the core of the El Indo Gold belt noted for it’s multi-million-ounce gold deposits such as Pascua-Lama to the north and El Indio to the south.

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 Inc., please contact Steven Cochrane, President and CEO via e mail: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca . Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: twalker@chilelithium.cl

On Behalf of the Board of Directors,
LITHIUM CHILE INC.

Steven Cochrane
President & CEO

Lithium Chile Announces the Acquisition of Prospective Gold Properties

March 5, 2020 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce the acquisition from Kairos Metals of previously held properties that are prospective for gold, silver, and copper.

Under the terms of an agreement entered into on March 4, 2020, with Kairos Metals Corp. (“Kairos Metals”), Lithium Chile will reacquire title to certain properties that were transferred to Kairos Metals in the spin-out transaction that occurred in 2018. Management of Lithium Chile believes these properties to be highly prospective for gold, silver, and copper accumulations.

This transaction will allow Lithium Chile to expand into the precious metals area while it awaits drilling approval from local indigenous communities to further its lithium property portfolio. While the exploitation of the Company’s extensive lithium property portfolio continues to be management’s key focus, the addition of the gold, silver, and copper properties allows management of the Company to expand its options which may include entering into partnerships on some of the mineral properties. Given the renewed global interest in prospective gold properties, the additional mineral prospects within Lithium Chile’s portfolio provides enhanced opportunity for shareholder value creation.

Under the terms of the agreement, the promissory note previously granted by Kairos Metals to Lithium Chile, which matures on May 8, 2020, in the amount of $1,400,000 CDN has been revised to the amount of $1,000,000 CDN and matures on November 30, 2021.
Terry Walker V.P. Exploration commented that “the Apollo and Sancarrón properties hold the potential for very large scale deposits located in the El Indio Gold Belt between the Pascua Lama deposit and the El Indio and Tambo Mines – all of which are owned by Barrick Gold and which have been the subject of significant recent drilling activity. The other properties being retransferred to Lithium Chile have the potential to host gold/silver/copper or copper/gold/moly porphyry-style deposits within Chile’s Mega Porphyry Belt – home to some of the world’s largest gold/copper/molybdenum porphyry deposits such as Chuquicamata and Esperanza”.

Steve Cochrane, President, and CEO of Lithium Chile commented that “I believe that this transaction will be very beneficial to the shareholders of Lithium Chile. The current strength in the gold price has reignited interest in quality gold exploration properties which Lithium Chile now has access to. Chile hosts some of the better gold exploration opportunities and we are pleased to have added these quality gold prospects to our portfolio.”

The transaction remains subject to regulatory approval.

This news release has been reviewed by Terence Walker, P. Geo., Vice President of Exploration of the Company and a qualified person as that term is defined in National Instrument 43-101.

About Lithium Chile

Lithium Chile is advancing a lithium property portfolio consisting of 166,150 hectares covering sections of 14 salars and 2 laguna complexes in Chile.

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 Inc., please contact Steven Cochrane, President and CEO via e mail: steve@lithiumchile.ca or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: jeremy@lithiumchile.ca . Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: twalker@goldenrock.cl

On Behalf of the Board of Directors,
LITHIUM CHILE INC.

Steven Cochrane
President & CEO

Lithium Chile Announces Completion of First Drill Hole on the Turi Property and Results from Recent Check Assays on the Laguna Blanca Property

Lithium Chile begins drilling at Turi

Mr. Steven Cochrane reports

LITHIUM CHILE COMMENCES DRILLING AT TURI LITHIUM BRINE PROJECT IN CHILE

Lithium Chile Inc. has begun drilling at its Turi lithium brine project in Chile. The initial exploration program of up to three holes will focus on the core of a major geophysical anomaly that covers over 63 square kilometres and is 200 to over 300 metres thick. Near-surface brine samples taken by Lithium Chile from the area above the TEM anomaly contain lithium values ranging up to 590 milligrams per litre (mg/l) and moderate-to-low magnesium to lithium ratios of 7.8. Turi not only benefits from excellent drainage into the basin but also has a number of natural lithium-rich hot springs, indicating a potential subterranean source of lithium.

Lithium Chile is the largest landholder of lithium exploration projects in Chile outside of the government and SQM. Turi is one of six high-priority projects identified for early drill testing and the company has engaged Santiago-based Montgomery and Associates to assist with the drilling and water sampling program.

Steve Cochrane, president and chief executive officer of Lithium Chile, comments: “Turi is one of the priority prospects in our Chilean portfolio thanks to strong sampling results and the presence of a major geophysical anomaly. This is the second consecutive property for which we have acquired local and government agreement to drill. Our success in building on-the-ground relationships continues to bear fruit and truly sets us apart from other junior exploration companies with Chilean prospects. We look forward to sharing drilling results as they are received.”

This news release has been reviewed by Terence Walker, professional geoscientist, vice-president of exploration of the company and a qualified person as that term is defined in National Instrument 43-101.

About Lithium Chile Inc.

Lithium Chile is advancing a lithium property portfolio consisting of 166,150 hectares covering sections of 14 salars and two laguna complexes in Chile.

We seek Safe Harbor.

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