Etna Resources Inc.
TSX VENTURE : ETN

January 20, 2010 18:54 ET

Etna Resources Inc. Changes Name to Pan American Lithium Corp.

TUSCON, ARIZONA--(Marketwire - Jan. 20, 2010) - Pan American Lithium Corp. (formerly Etna Resources Inc. (TSX VENTURE:ETN)) (the "Company") - Effective at the market opening on January 21, 2010, the common shares of the Company will commence trading on TSX Venture Exchange under the name of Pan American Lithium Corp.. The Company is classified as a 'Mining Exploration/Development' company, with Lithium projects in Chile and Mexico. Pan American Lithium Corp. will trade under the symbol TSX-V:PL.

Chilean Brine Salars

The Company is the owner of interests in nine salars with the potential to produce lithium and other metals from surface lakes and subsurface brines, all located in the mineral-rich Atacama Region III of Chile. The rights in these nine lithium salars cover a cumulative area in excess of 11,500 hectares, all accessible via serviceable roads. The Company has submitted a NI-43-101 compliant report on these projects and is currently reviewing its portfolio to determine a priority amongst these properties and a process to move forward on the technical assessment of these sites.

Mexican Geothermal Plant Brines

In addition, as announced on December 21, 2009, the Company has entered into a Share Option Agreement with Escondidas Internacional S.A. de C.V. ("Escondidas"), a privately held Mexican corporation, and the Shareholders of Escondidas. This Agreement provides for the of the option to acquire 76% of the shares of Escondidas from the Shareholders of Escondidas by the Company, which will result in the Company receiving indirect interests in a joint venture whereby Escondidas and another party will jointly develop lithium and precious metals owned through concessions in the geothermal brines currently being produced at the Cierro Prieto geothermal power plant located in Baja California, Mexico, roughly 30 km south of the city of Mexicali.

On Behalf of the Board,

ETNA RESOURCES INC.

Andrew A. Brodkey, President and CEO

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as (i) the Company is the owner of interests in nine salars with the potential to produce lithium and other metals; and (ii) the Company receiving indirect interests in a joint venture whereby Escondidas and another party will jointly develop lithium and precious metals . There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including the (i) inability to obtain final Exchange approval for the Escondidas transaction for any reason; and (ii) general uncertainties with respect to mineral exploration and the nine brine salars in general. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.

We seek safe Harbor.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Etna Resources Inc.
    Andrew A. Brodkey
    President and CEO
    520-989-0022