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.

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