Lithium One Inc.
TSX VENTURE : LI

Lithium One Inc.

April 12, 2011 08:01 ET

Lithium One Announces Appointment of Paul Matysek as CEO

VANCOUVER, CANADA--(Marketwire - April 12, 2011) - Lithium One Inc. (the "Company") (TSX VENTURE:LI), is pleased to announce changes to its senior management team as the Company accelerates the development of its lithium projects.

Lithium One founding director Mr. Paul Matysek joins the team as Chief Executive Officer (CEO). Mr. Patrick Highsmith, will continue as President and is appointed in the newly created role of Chief Operating Officer (COO).

Mr. Matysek is a professional geochemist and geologist with over 30 years of experience in the mining industry. He has held senior management and director positions with several natural resource exploration and development companies, most recently as President and CEO of Potash One Inc. Mr. Matysek was the architect of the $434 million friendly takeover of Potash One by K+S Ag, which closed in early 2011. Prior to founding Potash One, Mr. Matysek was the President and CEO of Energy Metals Corporation ("EMC"), a premier uranium company traded on the New York and Toronto Stock Exchanges. Mr. Matysek led EMC as it was one of the fastest growing Canadian companies in recent years, increasing its market capitalization from $10 million in 2004 to approximately $1.8 billion when it was acquired by a larger uranium producer in 2007.

As President, Mr. Highsmith will work closely with Mr. Matysek on the strategy and marketing of the Company and as COO he will manage the development of the Company's operations as the Sal de Vida brine project in Argentina and James Bay pegmatite project in Quebec continue towards feasibility completion in 2012.

Chairman of the Board Martin Rowley commented, "We are very pleased that Paul Matysek has agreed to become the CEO as the Company accelerates the development of its two world class lithium projects. Paul's experience in the capital markets and proven ability to maximize the value of resource assets for the benefit of all stakeholders will complement and enhance Patrick's technical skills and expertise in the lithium sector. Patrick has done an excellent job as CEO to advance the Company over the past two years and we are now confident with the expanded executive management team that we will be able to successfully add further value to our lithium assets."

About Lithium One:

Lithium One Inc. is a Canadian-based explorer and developer of mineral properties with a specific focus on lithium. The Company has two major lithium projects funded through feasibility by earn-in partners: the brownfields Sal de Vida lithium and potash brine project in Argentina, and the James Bay bulk tonnage spodumene project in Quebec. The Company announced the first NI 43-101 compliant resource for the Sal de Vida project in early March, 2011, making it one of the largest and highest grade lithium and potash brine projects in the world. KORES, LG International and GS Caltex are earning a maximum 30% project equity in the Sal de Vida Project through an earn-in option agreement that includes an off- take agreement for up to 50% of the lithium production. Galaxy Resources is earning a maximum 70% project equity in the James Bay Project through an earn-in agreement that includes delivery of a definitive feasibility study. 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,

Martin R. Rowley, Chairman of the Board

The reader is cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability.

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 completion of a Feasibility Study, securing of debt for future project construction, purchase of future mine production, the timing for completion of an NI 43-101 compliant resource 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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