Lithium South identifies Potential Critical Reagent Source

June 1, 2023 / Vancouver, BC / Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) is pleased to announce the completion of a hydrological study on the Sophia II and Sophia III claim blocks, located at the Hombre Muerto salar, Salta Province, Argentina. The report was completed by CM Hidrogeologia, a consulting and engineering company located in Salta, Argentina.  Work to date has identified a potential water source near the 100% Company owned Hombre Muerto North Lithium Project (HMN Li Project), which is currently under development.

Water is a critical reagent for the production of lithium.  In order to secure a reliable and sustainable water supply, the Company acquired the Sophia I, II and III claim blocks for this purpose.  Located approximately 10 kilometers north of the HMN Li Project, the claim group is in close proximity to any future lithium production development.

HMN Li Project showing Sophia I, II and III claim blocks for purpose of sustainable water supply.
Figure 1: HMN Li Project showing Sophia I, II and III claim blocks for purpose of sustainable water supply.

Work to date included a Vertical Electric Sounding of the Sophia II and III claim blocks.  Three distinct geological zones have been identified and a drill program is now being designed to quantify the potential aquifer.  Water was found on site to flow to surface.

Lithium Resource Update

Technical work for an updated lithium resource is being conducted by Groundwater Insight of Halifax, Nova Scotia.  The technical team are awaiting final porosity results from GeoSystems Analysis Inc., of Tucson, Arizona.  The resource calculation which will combine the Alba Sabrina, Natalia Maria and Tramo Claim blocks, is expected shortly.

About Lithium South

Lithium South (LIS) owns 100% of the Hombre Muerto North Lithium Project (HMN Li Project) located in Salta Province, Argentina, the heart of the lithium triangle.  The Hombre Muerto Salar has a history of lithium production with Livent Corporation in operation for over twenty-five years just south of the HMN Li Project.  The HMN Li Project is surrounded by a US$4 billion lithium development underway by POSCO (Korea) and the Sal de Vida Project under development by Allkem.  LIS has delineated a NI 43-101 Lithium Carbonate Equivalent (LCE) resource on the Tramo claim block, one of five non-contiguous blocks that make up the HMN Li Project.  Recent drilling on the Alba Sabrina and Natalia Maria claim blocks have identified additional lithium zones that will allow a new and potentially larger LCE resource to be defined.  LIS is now transitioning from being a lithium explorer to becoming a lithium developer.

The technical and scientific information in this press release was reviewed and approved by Mr. William Feyerabend, a Consulting Geologist and a Qualified Person under National Instrument 43-101, who also participated in its production.

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.