Salares Lithium Inc.

Salares Lithium Inc.

December 01, 2009 09:00 ET

Salares Lithium Inc. Announces Initiation of Exploration Program and Appointment of General and Exploration Manager for Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2009) - Salares Lithium Inc. (the "Company") (TSX VENTURE:LIT) is pleased to report that it is initiating immediately its exploration program on its 'Salares 7' lithium project in Region III, Chile, and has appointed its Exploration and General Manager for Chile.

Exploration and General Manager, Chile

The Company is proud to introduce Luis Ignacio Silva P. (Ph.D and CEng.), as Exploration and General Manager for Chile, effective immediately.

Since 1970, Dr. Silva has concentrated his geological efforts mostly in Chile and other South American countries. He has worked, directly or through consulting contracts with some of the largest mining companies in the world such as Freeport McMorRan, Amax (Chile), Barrick, Homestake Mining, Cyprus Minerals, Phelps Dodge, Pegasus, Cominco, the Chilean Nuclear Energy Commission and Codelco.

Dr. Silva graduated from the Universidad de Chile in 1969, completed his Ph.D in Geology at the University of London, University College in 1980 and became a Chartered Engineer (CEng) through the Engineering Council, UK. Dr. Silva resides in Santiago, Chile and is fluent in English and Spanish. Dr. Silva was instrumental in the review and due diligence on the 'Salares 7' project.

The Salares 7 Lithium Project

The 'Salares 7' lithium project is made up of 7 salares (brine lakes) in Region III, Chile. The project comprises 39,404 hectares (approximately 400 square kilometres) of exploration concessions solely on salares.

The 'Salares 7' lithium project has a unique feature in that 5 of the 7 salares are clustered within 200 square kilometres in an area easily accessible by road. The second unique aspect of these 5 clustered salares is that they are 100% owned by the Company with its partners. Thus the Company is able to advance beyond exploration, subject to feasibility, unencumbered by potential competing parties.

The exploration program being initiated is based on the recommendations set forth in the Technical Report and will be directed and managed by Dr. Silva. The initial phase of the exploration program will encompass geophysical surveys to define the size and extent of brine pools within the basins and detailed sampling of the brines within the salares.

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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