SOURCE: Li3 Energy, Inc.

Li3 Energy, Inc.

April 01, 2010 03:00 ET

Li3 Energy, Inc. Commences Exploration Program on Its Puna Plateau Lithium Properties in Argentina

LIMA, PERU--(Marketwire - April 1, 2010) -  Li3 Energy, Inc. (OTCBB: LIEG) ("Li3 Energy" or the "Company") is pleased to announce the mobilization of field crews in preparation for the launch of the 2010 exploration program on the Company's Puna Lithium Properties early next week. The program is designed to test the lithium brine production potential of Li3 Energy's salar (dry salt lake) properties on the Puna Plateau of northern Argentina. 

The Puna Lithium Properties are poised to provide the Company with a foundation for growth towards commercial lithium production. Definitive option agreements have been signed confirming Li3 Energy's right to acquire up to eighty five percent (85%) of approximately 90,000 acres strategically located on the Rincon, Centenario, Pocitos, and Cauchari Salars, which are all known to have potential for lithium and potassium resources.

The exploration program will be results-driven and will incorporate grid brine sampling, geophysics, drilling, hydrogeological studies and, if warranted, a preliminary economic assessment to determine the economic viability of each property.

Luis Saenz, CEO of Li3 Energy, stated, "We intend to move quickly in our evaluation of the production potential of our Puna Lithium Portfolio, as we believe that the demand for lithium continues to grow with no signs in the near term of slackening of either interest or price. The race is on globally to identify realistic production scenarios backed up by factual reserve estimates in locations that can support low cost production. Given the known resources and relatively advanced state of development at locations such as the Rincon Salar, we believe we have some potentially very high quality projects in our growing portfolio of assets, both in Latin America and the USA."

About Li3 Energy, Inc. (OTCBB: LIEG)
Li3 Energy, Inc. is an early stage, U.S. public company currently pursuing a business strategy in the lithium brine mining and energy sector in the Americas, with an initial focus on identifying and acquiring opportunities in Peru, Argentina, Chile and the United States. Li3 Energy aims to acquire a significant portfolio of lithium brine deposits in the Americas for the purpose of development and production in order to meet growing market demand and to support the clean energy and green energy initiatives being implemented globally. For more information, visit: www.li3energy.com.

Forward-Looking Statements
Certain statements in this news release are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "proposes," "hopes," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of Li3 Energy, including, but not limited to, Li3 Energy 's ability to identify appropriate corporate acquisition and/or joint venture opportunities in the lithium mining sector and to establish the technical and managerial infrastructure, and to raise the required capital, to take advantage of, and successfully participate in such opportunities; future economic condition; political stability; and lithium prices. Additional information on risks and other factors that may affect the business and financial results of Li3 Energy can be found in Li3 Energy's annual, quarterly and current reports and other documents filed with the U.S. Securities and Exchange Commission and available at www.sec.gov.

Per: Luis Saenz, CEO

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