Salares Lithium Inc.

Salares Lithium Inc.

April 09, 2010 07:00 ET

Salares Lithium Increases Land Package to Over 117 Sq km's and Provides Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2010) - Salares Lithium Inc. (the "Company") (TSX VENTURE:LIT) is pleased to report on additional exploration activities underway at its Salares 7 project in Region III, Chile (the "Project").

Property Size Increases

Due to the positive results from the Company's first phase transient electromagnetic survey ("TEM") completed on Salar de la Isla and Salar de las Parinas (announced on March 8, 2010 and March 18, 2010, respectively) the Company has now staked additional concessions to cover an extra 21,300 hectares of ground. The Company's land package now totals 117,904 hectares (117.9 square kilometers).

Interpretation of the TEM survey results from both the northern portion of Salar de la Isla and Salar de las Parinas, completed by Geodatos SAIC ("Geodatos") of Santiago, Chile, has indicated that the brine bearing horizons can extend beyond the salar edges. In the case of the Company's Salar de las Parinas, the brine bearing zone extends up to 2.5 kilometers under alluvial and / or volcanic cover from the visual salar edge.

"A portion of the interpreted brine bearing horizon identified as probable and possible brines by Geodatos encompasses areas beyond the salar boundaries and as such the additional ground staked ensures that we can drill test / sample those horizons from within our own concession group," commented Todd Hilditch, CEO of the Company.

Exploration Update

Geodatos is currently completing a TEM survey at Salar de Aguilar in order to define the potential brine bearing horizon of the salar. Upon completing the survey at Aguilar, Geodatos will move back to Salar de la Isla in order to complete the southern portion of the salar which will allow the Company to finalize the entire La Isla brine bearing horizon. The gravity survey for the project, required in order to define the basement of the salars (beyond a depth in excess of 200 metres for both La Isla and Las Parinas), is anticipated to commence within the next couple weeks.

The access and infrastructure work is continuing for the drilling program. The Company is preparing to have a second camp available in order to house the exploration and drill crews. The drill program which will begin when the drill plan and access is completed (expected shortly) will provide information relating to both the brine and the brine hosting rock, such information is required for future resource calculations.

The technical information in this release has been reviewed and approved by Luis Ignacio Silva P. (Ph.D and C.Eng.), Exploration and General Manager for Chile, as a 'qualified person', as defined by NI 43-101, Standards for Disclosure of Mineral Projects.

Salares Lithium Inc.

Salares Lithium Inc. is a lithium explorer in Chile that controls the 'Salares 7' lithium project made up of seven salares (brine lakes that are prospective for sub-surface lithium and potassium) 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.

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Forward-Looking Statements

Certain of the statements made and information contained herein are "forward-looking statements" within the meaning of Canadian securities legislation or "forward-looking information" within the meaning of the Ontario Securities Act and the Alberta Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking statements and forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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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