Response to Media Speculation

SYDNEY, Sept. 27, 2023 - Lithium Power International Ltd. (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 Ltd..

For further information, please contact:

Cristobal Garcia-Huidobro - CEO; or Andrew Phillips - CFO Lithium Power International
E: info@lithiumpowerinternational.com
Ph: +612 9276 1245
@LithiumPowerLPI

For Australian investor relations enquiries:
Jane Morgan - Jane Morgan Management Pty Ltd
Investor and Media Relations
+ 61 (0) 405 555 618
jm@janemorganmanagement.com.au

For Asian investor relations enquiries:
Mary Leung - 121 Group (HK) Ltd
Investor and Media Relations
+ 852 9247 6058
mary.leung@weare121.com

For U.S. and other international investor relations enquiries:
Thomas Renaud - Arrowhead Business and Investment Decisions, LLC
Office: +1 212 619-6889
enquire@arrowheadbid.com