Lithium South Drill Results – Holes AS03, AS05, and AS06

February 21, 2023 / Vancouver, BC / Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is pleased to provide further drill results from the Alba Sabrina resource expansion drill program at the HMN Li Project, Salta, Argentina. Samples were taken using best industry practices and assays were performed by Alex Stewart Laboratories (ISO Certified) of Mendoza, Argentina. Excellent lithium values have been received from all holes completed to date and are reported below.

Hole AS03 was drilled to 260 meters. The average of depth-discrete packer samples is 663 mg/L Li, with a range of 320 to 752 mg/L Li. It was determined upon completion that the last sample taken at 260 meters (320 mg/L Li) was likely diluted by inflow from a shallow aquifer, due to a leak in the packer system.

After drilling and packer sampling, the borehole was completed as a long-screen monitor well. It was then developed to remove drilling mud and any fluids that entered during packer sampling. A sample taken from the long-screen well returned a value of 757 mg/L Li.

Hole AS05 was drilled to 220 meters. The average of the packer samples is 705 mg/L Li, with a range of 434 to 792 mg/L Li. The low concentration (434 mg/L Li) was measured in the shallowest sample (<50 m depth).

Hole AS06 was drilled to 180 meters. The average of the packer samples is 644 mg/L Li, with a range from 525 to 710 mg/L Li.

Drilling to date has delineated a brine-containing sub-basin approximately 1.2 kilometers wide by 7.6 kilometers in length, extending northward from the main basin of Hombre Muerto Salar. The drill plan included a line of four core holes north to south along the axis of the sub-basin, and three control holes along the west side of the sub-basin. The purpose of the control holes is to define the west side of the sub-basin and to determine if the western boundary was affected by freshwater inputs. All holes have encountered significant thicknesses of brine.

Hole AS07 (also a western boundary borehole) is in progress. When ASO7 is complete, the Company will publish an updated drill plan and results. The rig will then move to the Natalia Maria claim block located east of the current location. A road and drill pad have already been constructed.

An updated resource will be calculated when the Natalia Maria drill is completed and sampled.

Lithium South Drill Map – February 21, 2023 borehole results.
Lithium South Drill Map – drill targets for resource expansion on Alba Sabrina claim block.

Company President Adrian F. C. Hobkirk is quoted, “We are very pleased with the exploration results to date and look forward to the calculation of an upgraded lithium resource at the HMN Li Project.”

About Lithium South

The HMN Li Project is at an advanced stage of evaluation, with a Preliminary Economic Assessment completed in April 2019.  Lithium South is the 100% owner of the HMN Li Project and expects to expand the known resource with its current drill program.  Preliminary results support this expectation.  Additional project work including permitting, environmental studies and process test work is ongoing.

The Hombre Muerto North Lithium Project is adjacent to a US$4 billion lithium mine under development by the Korean multinational corporation POSCO, which acquired their holdings from Galaxy Resources Ltd. for US$280 million.  Livent Corporation is producing lithium to the south of the Hombre Muerto North Lithium Project and has actively operated there for over twenty-five years.

The technical and scientific information in this press release was reviewed and approved by Dr. Mark King, a Qualified Person under National Instrument 43-101. Dr. King participated in the preparation of this news release.

On behalf of the Board of Directors

Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.

This news release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements.  The reader is cautioned not to place undue reliance on forward- looking statements.  We seek safe harbor.