First Lithium Resources Inc.
TSX VENTURE : MCI
PINK SHEETS : FLNTF
FRANKFURT : MHN

First Lithium Resources Inc.

December 14, 2010 09:01 ET

First Lithium Announces Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2010) - First Lithium Resources Inc. (the "Company") (TSX VENTURE:MCI)(PINK SHEETS:FLNTF)(FRANKFURT:MHN) will proceed with a non-brokered private placement of up to 4,000,000 Flow-Through Units ("FT Units") at a purchase price of $0.15 per FT Unit for total proceeds of up to $600,000. Each FT Unit shall consist of one flow-through common share and one half warrant, with each whole warrant entitling the holder to purchase one additional non-flow-through common share of the Company for a period of two years from issuance at a purchase price of $0.25 per share if exercised in the first year and at a purchase price of $0.35 cents per share if exercised in the second year.

The proceeds will be used for further development of the Company's Canadian mineral properties.

Finders' fees may be payable on all or a portion of the private placement as per TSX Venture Exchange policy.

This transaction is subject to the approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Craig Naughty, President & CEO

For further information contact Craig Naughty or visit the website at www.firstlithiumresources.com.

"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."

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