Salares Lithium Inc.
TSX VENTURE : LIT

Salares Lithium Inc.

February 19, 2010 10:54 ET

Salares Lithium Forms Corporate Advisory Board and Appoints Dr. Ian Hutcheon as a Member

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2010) - Salares Lithium Inc. (TSX VENTURE:LIT) (the "Company") is pleased to announce the formation of a Corporate Advisory Board to assist in the development of the Company and its Salares 7 lithium project in Region III, Chile. The Company's initial appointee is Dr. Ian Hutcheon.

Corporate Advisory Board - Dr. Ian Hutcheon:

Dr. Hutcheon received his B.Sc. degree from the University of British Columbia (1969) and his Ph.D. (1997) from Carleton University in Ottawa. He worked for the Geological Survey of Canada and various mining companies before joining the Department of Geology and Geophysics at the University of Calgary in 1978, where he was Professor of geochemistry and was Department Head between 1992 and 1997. He retired in 2003 and is now Professor Emeritus but retains an active research program. His research has focused on water–rock reactions, geochemistry, monitoring field recovery processes, and diagenesis of clastic and carbonate rocks. Past research has included the study of the effect of diagenesis on reservoir properties. On-going research integrates chemical and isotopic data for shallow ground water to understand the controls on the distribution of elements and minerals in near-surface environments. Recent groundwater and surface water research projects completed by Dr. Hutcheon are in Brazil and Canada.

"We are pleased to have Dr. Hutcheon join our team at Salares Lithium Inc. His experience and focus in geochemistry and water-rock reactions will be a great asset to our Company in the understanding, and possible development, of our brine pools at the 'Salares 7' lithium project," stated David Shaw, Chairman of the Board.

Corporate

The Company has granted a total of 100,000 incentive stock options to Dr. Hutcheon as a member of the Corporate Advisory Board. In addition, 400,000 incentive stock options have been granted to each of Dr. David Shaw as Chairman of the Board and Vice-President, Exploration and Mr. Todd Hilditch as President and Chief Executive Officer.

The incentive stock options granted for Dr. Hutcheon, Dr. Shaw and Mr. Hilditch are pursuant to the Company's Stock Option Plan and are also subject to an 18 month vesting period. These options will be exercisable at a price of $0.60 per share and will expire on February 19, 2015. The grant of the stock options are subject to regulatory approval.

Salares Lithium Inc. is a lithium explorer in Chile that controls the Salares 7 Lithium Project made up of seven salares (brine lakes) and the surrounding concessions in Region III, Chile. Five of the seven salares are clustered within 155 kilometres and are 100% owned by the Company and its Chilean partner.

Neither the 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.

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