Lithium One Inc.
TSX VENTURE : LI

Lithium One Inc.

November 09, 2010 17:31 ET

Lithium One: Press Conference Invitation

Official Presentation of the Joint Venture of the Korean Consortium (KORES-LGI-GS Caltex) and Lithium One Inc; Meeting with Officials from the Argentina Government and Catamarca and Salta Provinces to Discuss Lithium Project Development

SALTA, ARGENTINA--(Marketwire - Nov. 9, 2010) - Lithium One Inc. (TSX VENTURE:LI) -

Background: Argentina is the third largest global producer of lithium, a metal used in rechargeable batteries such as those in portable electronics, and electric and hybrid-electric vehicles. Lithium One Inc. is a Canadian based company that is developing, through its Argentine subsidiary Lithium 1 S.R.L., the "Sal de Vida" lithium brine project in the Puna area of Argentina. In June 2010 Lithium One announced a joint venture agreement with Korea's government owned mining company Korea Resources Corporation (KORES) to develop the Sal de Vida project. KORES has entered into a Memorandum of Understanding to share its portion of the joint venture through a consortium with major Korean energy provider GS Caltex Corporation, and the trading company and natural resources development arm of the LG group of companies, LG International Corp. A delegation led by Mr. Kim, Shin-Jong, President & CEO of KORES, and including senior representatives of the three Korean consortium companies, as well as representatives from other leading Korean corporations such as Posco, Hyundai Corporation, Aju Industry Co. Ltd., Kolon Industries Inc., Ecopro Co. Ltd., and KIET will be in attendance at a meeting and reception with Lithium One in Buenos Aires on Thursday, November 11th to discuss the development of the Sal de Vida project. The consortium companies and Lithium One have invited officials of the Argentina government and the governments of Catamarca and Salta provinces to attend this meeting. The senior leadership from KORES, GS Caltex, and LG International will also be making their first official visit to the Sal de Vida project on Friday, November 12th. 

Members of the press are invited to the news conference following the official meetings.

Hosts:
Mr. Shin-Jong Kim, President & CEO, Korea Resources Corporation
Mr. Tai O Kim, Managing Director, GS Caltex Corporation
Mr. Young Tae Park, Director, LG International Corp.
Mr. Sang Chun Kim, Director, LG International Corp.
Mr. Patrick Highsmith, President and CEO, Lithium One Inc.
 
Invitees:
Governor of the Province of Catamarca, Ing Eduardo Brizuela del Moral
Minister of Government and Justice of the Province of Catamarca, Dr Luis Oscar Silva
Mining Secretary of the Province of Catamarca, Dr Jorge Enrique Eremchuck
Mining Sub-Secretary of the Province of Catamarca, Ing Angel O Betelu
Electoral and Mines Judge of the Province of Catamarca, Dr. Raul Guillermo Cerda
Governor of the Province of Salta, Dr Juan Manuel Urtubey
Minister of Economic Development of the Province of Salta, Cr Julio Cesar Loutaif
Mining Secretary of the Province of Salta, Lic Ricardo Salas
Mines and Commerical Registration Judge of the Province of Salta, Dr Daniel Marchetti
National Mining Secretary, Ing Jorge Mayoral
 
When: November 11th, 2010
  11:00 a.m. (9 a.m. ET) or immediately following the close of the official meeting
   
Where: Salon del Plata – 14th Floor
  Feir's Park Hotel
  Esmeralda 1366 Buenos Aires / Argentina 
  Tel: (+54) _11-4131-1900 Fax: (+54) 11-4131-1950
   
Contact Person: Celina Haddad, celina.haddad@lithium1.com or +54 387 4 39 49 09

About Lithium One:

Lithium One Inc. (TSX VENTURE:LI) is a Canadian-based explorer and developer of mineral properties with a specific focus on lithium. The Company has two major lithium projects: the brownfields Sal de Vida lithium brine project in Argentina and the James Bay bulk tonnage spodumene project in Quebec. Korea Resources Corporation (KORES) is earning a 30% interest in the Sal de Vida project by funding up to US$15 million to complete a Definitive Feasibility Study and has also agreed to provide a completion guarantee for Lithium One's share of the debt portion of project development costs. The Company continues to advance both its projects toward resource definition, expecting NI 43-101 compliant resource estimates before the end of 2010. Lithium One believes that lithium demand will grow as its value as a preferred battery material is fully realized. The Company's strategy is to draw upon its quality team and employ best-practice to fully develop its portfolio of top-tier lithium assets.

ON BEHALF OF THE BOARD OF DIRECTORS,
 
Patrick Highsmith, M.Sc.
President and Chief Executive Officer
 
Lithium One Inc.
1238-200 Granville Street
Vancouver, BC  V6C 1S4 Canada
Email: info@lithium1.com
 
Website: www.lithium1.com

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 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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