Response to Media Speculation

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SYDNEY, Australia, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Lithium Power International Limited (ASX: LPI) (“Lithium Power” or “the Company”) refers to recent media speculation regarding discussions between Corporación Nacional del Cobre de Chile (“Codelco”) and Lithium Power about a potential transaction.

Lithium Power confirms that it is in discussions with Codelco regarding a potential transaction. However, at this stage, discussions between Lithium Power and Codelco are incomplete and no agreement on terms has been reached. Codelco has been granted due diligence and is continuing to undertake its due diligence investigations.

Lithium Power notes that there is no certainty that the discussions with Codelco will lead to consummation of a transaction.

Lithium Power will continue to keep the market fully informed, in accordance with its continuous disclosure obligations.

Lithium Power has appointed Canaccord Genuity (Australia) Limited as financial adviser and Ashurst Australia as legal adviser.

Authorised for release by the Board of Directors of Lithium Power International Limited.

For further information, please contact:

Cristobal Garcia-Huidobro – CEO; or Andrew Phillips – CFO Lithium Power International E: [email protected]Ph: +612 9276 1245@LithiumPowerLPI

For Australian investor relations enquiries:Jane Morgan – Jane Morgan Management Pty LtdInvestor and Media Relations+ 61 (0) 405 555 618[email protected]

For Asian investor relations enquiries: Mary Leung - 121 Group (HK) Ltd Investor and Media Relations+ 852 9247 6058[email protected]

For U.S. and other international investor relations enquiries:Thomas Renaud - Arrowhead Business and Investment Decisions, LLCOffice: +1 212 619-6889[email protected]