When solutions of silver nitrate and lithium bromide are mixed, a chemical reaction takes place, resulting in the formation of a precipitate of silver bromide and the release of lithium nitrate into the solution.

The chemical equation for this reaction is:

AgNO3 (aq) + LiBr (aq) -> AgBr (s) + LiNO3 (aq)

In this reaction, the silver ions (Ag+) from silver nitrate combine with the bromide ions (Br-) from lithium bromide to form solid silver bromide (AgBr), which is insoluble in water and precipitates out of the solution. The lithium ions (Li+) and nitrate ions (NO3-) from the reactants remain in the solution as lithium nitrate (LiNO3), which is soluble in water.

The net ionic equation for this reaction is:

Ag+ (aq) + Br- (aq) -> AgBr (s)

This equation shows only the species that are directly involved in the precipitation reaction, excluding spectator ions such as lithium and nitrate ions.