RESPONSE TO MEDIA SPECULATION TEST

• 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.