Calgary, Alberta--(Newsfile Corp. - October 3, 2019) - Lithium Chile Inc. (TSXV: LITH) (OTCQB: LTMCF) ("Lithium Chile" or the "Company") is pleased to provide the following update on their proposed exploration drilling program for their Salar de Coipasa prospect. The Company has now advanced to the final stage of obtaining an access easement from the Chilean Courts on the Coipasa property which upon receipt will allow drilling to begin on the first of 3 exploration holes on the Coipasa prospect. As is customary under Chilean law, the judge will now assess a compensation plan for the Community of Antocovinto, the surface rights holder. It should be noted that Lithium Chile has previously received the support of this community by an overwhelming majority for their proposed exploration program. With the court approved access and when the appropriate compensation award is in place, the company can then apply to National Geology and Mining Service (SERNAGEOMIN) for the drilling permits to begin their exploration program on their Salar de Coipasa prospect.
On Wednesday, September 25 th 2019, the Company was also granted an exclusive meeting with the Chilean Minister of Mining, Mr. Baldo Prokurica, to discuss Lithium Chile's projects and some of the challenges facing lithium exploration in Chile today. At the meeting, the Minister reiterated Chile's continued support for the development and advancement of their lithium resources with an eye to supporting both the indigenous communities and the environment.
Steven Cochrane, President and CEO of Lithium Chile, said "We are extremely pleased to have advanced to this final stage in the access easement process at Coipasa. Once a compensation award has been determined and the easement granted, the Company may file the Notice of Work for our exploration drill program. The potential value of this project has been clearly demonstrated by the announcement last February of the $1.3 billion U.S. dollar investment by the Chinese company, Xinjiang TBEA Group, on the Bolivian side of the Salar de Coipasa, and by the fact they continue to advance their exploration program in Bolivia.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 166,950 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: email@example.com or alternately, Jeremy Ross, VP Business Development, at (604) 537-7556 or via email: firstname.lastname@example.org . Chilean contact is Terry Walker, VP Exploration at (011) 562 2455-6473 or via email: email@example.com
On Behalf of the Board of Directors,
LITHIUM CHILE INC.
President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, this news release contains forward-looking statements relating to, among other things, management of the Company's views regarding the current and subsequent drilling programs.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material factors and assumptions include, but are not limited to: the general stability of the economic and political environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects and the results from such prospects. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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