Salares Lithium Inc.

Salares Lithium Inc.

January 29, 2010 07:00 ET

Salares Lithium Appoints Mr. Pablo Mir as Director and Forms Technical Management Committee for the Salares 7 Project in Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2010) - Salares Lithium Inc. (the "Company") (TSX VENTURE:LIT) is pleased to announce that Mr. Pablo Mir has joined its Board of Directors and it has formed a technical management committee for its Salares 7 project in Chile.

Mr. Pablo Mir, Director

The Company is pleased to announce that effective immediately Mr. Pablo Mir has joined its Board of Directors. Mr. Mir is a Partner with the Chilean law firm of Bofill Mir & Alvarez Hinzpeter Jana where he leads the Natural Resource Practice in Santiago. Mr. Mir, who is considered a mining and natural resources legal specialist, graduated from Universidad de Chile, cum laude, and was admitted to the Chilean Bar in 1987. He was chosen by Latin Lawyer Magazine's Who's Who of Business Lawyers and Global Chambers and Partners as one of the best mining lawyers in Latin America. Mr. Mir has represented mining companies in the development of exploration and exploitation projects in Chile and Argentina. He is a member of the Rocky Mountain Mineral Law Foundation; International Mining Professionals Society (IMPS); Latin American Mining Attorneys Association (AMLA); International Bar Association (Section on Energy, Environment, Natural Resources and Infrastructure Law ); Prospectors and Developers Association of Canada (PDAC); National Mining Association (SONAMI), Legal Affairs Commission; and the Chilean Bar Association.

"We are extremely pleased to have Mr. Mir join the Board of Directors of Salares Lithium Inc. His experience in the Chilean business and mining sectors will be a great asset to our Company and the 'Salares 7' lithium project," stated Todd Hilditch, CEO.

Technical Management Committee

Further to its news release of June 3, 2009 and its joint venture agreement with its Chilean partner, Salares Atacama SCM ("SALA"), the Company announces that is has formed a Technical Management Committee (the "Committee"). The Committee will oversee the exploration and development programs on the Company's lithium brine properties. The Company's representatives on the Committee are Dr. David Shaw, Ph.D, Chairman of the Company, and Mr. Ignacio Silva, Ph.D, C. Eng., the Company's General Manager in Chile. SALA's representative on the Committee is Mr. Juan Villarzu, former President and CEO of Codelco, a Chilean state owned copper mining company. Mr. Villarzu has extensive management and mining experience in Chile. During his nine-year tenure as CEO, Codelco's economic value increased from US $4 billion in 1993 to US $25 billion in 2005; estimated at a price of US $1 per pound of fine copper. Mr. Villarzu is also a former Senior Economist at the World Bank.


The Company granted today 250,000 incentive stock options to Mr. Mir pursuant to its Stock Option Plan.

The Company also reports the resignation of Mr. Ian Slater from the Board of Directors. The Company wishes him well in his future endeavors.

Salares Lithium Inc. is a lithium explorer in Chile that controls the Salares 7 Lithium Project made up of seven salares (brine lakes) and the surrounding concessions in Region III, Chile. Five of the seven salares are clustered within 155 kilometres and are 100% owned by the Company and its Chilean partner.

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