Lithium One Inc.

Lithium One Inc.

November 10, 2009 07:00 ET

Lithium One Appoints Martin R. Rowley Chairman of the Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2009) - Lithium One Inc (the "Company") (TSX VENTURE:LI), is pleased to announce the appointment of Martin R. Rowley as non-executive independent Chairman of the Company's Board of Directors. The appointment is effective from November 10th, 2009. Mr. Rowley has had a distinguished career for over 25 years in the mining industry, being involved in the financing and development of several successful mines. Most notably Mr. Rowley was a co-founder of First Quantum Minerals Ltd in 1996. First Quantum is a highly successful mining and metals company with operations in Zambia, the Democratic Republic of Congo and Mauritania in Africa, as well as in Finland. Mr. Rowley served as First Quantum's CFO and as a Director until January 2007, and is currently the company's Executive Director, Business Development. He is also non-executive Chairman of Forsys Metals Corp, a leading company in the uranium sector.

Lithium One's new Chairman remarked, "I have been most impressed with the ability of the Board and management of Lithium One to have already assembled two key world class lithium projects in stable jurisdictions together with a highly experienced technical team to ensure that both projects can be developed as rapidly as possible. For obvious reasons the renewable energy market is growing rapidly, particularly in the transportation sector, with a global shift in focus from internal combustion to hybrid and electric powered vehicles. Lithium batteries will power many of these. Lithium One is well positioned to enter the ranks of lithium producers and meet this increased demand."

Commenting on Mr. Rowley's appointment, Lithium One's President, Patrick Highsmith stated, "We are very pleased that Martin has agreed to join our team. He has helped build a company from start up to a market capitalization of currently over $5 billion. He has a proven eye for identifying value adding projects, vast experience in the capital and debt markets financing those projects, and then being part of a team developing them into successful operations. We look forward to enjoying the benefit of his experience and strategic vision."

Lithium One's Board has also approved the granting of 700,000 stock options to certain officers and directors of the Company, which options are exercisable into common shares of the Company at a price of $0.90 per share. Subject to the rules of the TSX Venture Exchange and the Company's Stock Option Plan the options have a term of 5 years and will expire on November 10th, 2014.

About Lithium One:
Lithium One Inc is a well-financed explorer and developer of mineral properties with a specific focus on lithium. The Company now has two major lithium projects: the Sal de Vida lithium brine project in Argentina and the James Bay bulk tonnage spodumene project in Quebec. The Company continues to advance both projects toward the resource stage, expecting NI 43-101 compliant resource estimates early in 2010.

Lithium One believes that lithium demand will grow as its value and efficacy in "green energy" applications is fully realized. The Company's strategy is to build a portfolio of high quality producing lithium assets. 

Patrick Highsmith, M.Sc.
President and 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"). 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 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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