Lithium One Inc.
TSX VENTURE : LI

Lithium One Inc.

December 15, 2011 09:53 ET

Lithium One Announces Appointment of Engineering Manager for Sal de Vida Project

VANCOUVER, CANADA--(Marketwire - Dec. 15, 2011) - Lithium One Inc. (the "Company") (TSX VENTURE:LI), is pleased to announce the appointment of Mr. Mario Juarez as Engineering Manager for the Sal de Vida lithium-potash brine project in Argentina.

Mr. Juarez, a graduate of University Nacional de San Juan, is a mining engineer with more than 17 years of experience that includes mine planning and operations, technical and commercial management of various mining projects, including a lithium brine project. During his career he has held senior positions with the engineering and management teams for several major projects including: the Pirquitas Mine (Silver Standard), Veladero Mine (Barrick Gold), Alumbrera Mine & Agua Rica Project (Xstrata / Goldcorp / Yamana) and the Cerro Vanguardia Mine (Anglo Gold).

Patrick Highsmith, President and COO commented: "We are pleased to add Mario to our first-rate technical team at the Sal de Vida project. He has been part of four mine start-ups in Argentina and his past success in feasibility work and mine engineering will be an invaluable addition to our existing team through the feasibility and development stages."

Mr. Juarez will be responsible for coordinating all aspects of the project engineering as the Company moves through the feasibility process at Sal de Vida. Lithium One announced the results of its preliminary economic assessment ("PEA") on October 5th 2011 and is currently in the process of selecting a qualified independent engineering firm for the completion of the feasibility study.

The Company is also pleased to announce that it has made the final payments and is securing title to a further 28 minas (mining licenses), secured from 3 different claim holders and comprising a total of 7,756 hectares. This brings the total area of fully-owned mining rights to 21,727 hectares. Including these properties, the Company controls a total land position of 37,845 hectares as minas and cateos (exploration licenses) with either full ownership or under option agreements.

In other news, the Company also announces that, subject to regulatory approval, it has granted 3,075,000 incentive stock options to officers, directors, employees and consultants of the Company. The options have an exercise price of $1.00 per share and are exercisable for three years, subject to the terms of the Company's stock option plan.

About Lithium One:

Lithium One Inc. is well positioned to be a next-generation low cost producer of lithium and potash. The Company has two major projects advancing to feasibility in 2012: the Sal de Vida lithium and potash brine project in Argentina and the James Bay bulk tonnage spodumene project in Quebec. End-user partners are earning a maximum 30% project equity in Sal de Vida by funding $15M towards feasibility, providing an off-take agreement for up to 50% of the lithium production, and providing a completion guarantee for the debt component of the capital development costs. Galaxy Resources is earning a maximum 70% project equity in the James Bay Project through an earn-in agreement that includes delivery of a feasibility study by early 2013. The Company's strategy is to draw upon its quality team and employ best practice to develop its projects into leading suppliers of low-cost, high quality lithium products to the global market.

ON BEHALF OF THE BOARD OF DIRECTORS,

Paul Matysek, Chief Executive Officer

Forward-Looking Statements

This document may contain "forward-looking information" within the meaning of Canadian securities legislation (hereinafter referred to as "forward-looking statements"). All statements, other than statements of historical fact, included herein including, without limitation statements relating to the Preliminary Economic Assessment, estimated capital and operating costs, productions rates, cash flows, rates of return, mine life or mineral resources, securing of debt for future project construction, purchase of future mine production, the timing for completion of an Feasibility Study and other matters related to the exploration and development of the Project, are forward-looking statements. These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions, title disputes as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.

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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