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Thursday, 03/30/2023 2:09:18 PM

Thursday, March 30, 2023 2:09:18 PM

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Lithium South completes final hole of Resource Expansion Program at the HMN Lithium Project, Salta Province, Argentina

March 30, 2023 / Vancouver, BC / Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ). Lithium South Development is pleased to announce the completion of NM01, the final hole of the current resource expansion program at the Hombre Muerto North Lithium Project, Salta Province, Argentina. The hole is located on the Natalia Maria Claim Block, a 115-hectare area strategically located on the salar. Drilling at NM01 has intersected brine-bearing interbedded sediments and fractured halite from surface to a depth of approximately 200 meters. Below that, to the final borehole depth of 375 meters, the halite has lower permeability. Nine packer samples have been collected between 24 and 189 meters, with a density range of 1.215 to 1.218 g/mL and a conductivity range of 196.3 to 209.5 mS/cm. Samples will be sent to Alex Stewart Laboratories (ISO Certified Mendoza, Argentina) for analysis.

A monitoring well will be installed to test the upper, more permeable, halite. A separate shallow well will be installed on the same platform to test the shallow interbedded sediments. The goal of the monitoring wells is to provide a preliminary indication of whether the claim block will support one or more shallow pumping wells for potential future lithium production.

The 2022-2023 resource expansion program is comprised of a total of eight core wells, seven were drilled on the Alba Sabrina Claim Block, the largest in the project package at 2,089 hectares. Combined with the newly completed hole NM01 at the Natalia Maria Claim Block, and the 2018 drill program at the 383-hectare Tramo Claim, over 75 % of the salar located claims has now been drill tested.

A new updated lithium carbonate equivalent resource will be calculated under the supervision of Groundwater Insight, of Halifax, Nova Scotia, Canada. Management expects to substantially add to the current 571,000 tonne LCE resource identified at the Tramo Claim Block in 2018 (October 02, 2018, News Release). The intent of expanding the current resource is to increase the project size potential from the 5,000 tonne per year operation defined in the 2019 Preliminary Economic Assessment (filed August 12, 2019).