Western Lithium USA Corporation

Western Lithium USA Corporation

February 02, 2011 12:04 ET

Western Lithium Joins OTCQX Market in the USA

RENO, NEVADA--(Marketwire - Feb. 2, 2011) - Western Lithium USA Corporation (TSX:WLC)(OTCQX:WLCDF) is pleased to announce that its common shares will commence trading Thursday, February 3, 2011 on the OTCQX in the United States under the ticker symbol "WLCDF".

"Trading on OTCQX is expected to increase trading liquidity and will provide U.S. investors an improved platform to access our shares in the U.S.," said Jay Chmelauskas, Western Lithium's President. "We believe this is an important step towards increasing Western Lithium's visibility in the U.S. market, coinciding with North America's introduction to electric and hybrid automobiles using lithium-ion batteries. Western Lithium is developing one of the largest lithium deposits in the world, located in Nevada, USA, that is positioned to provide a competitive domestic lithium source for growing lithium-ion battery manufacturing."

The OTCQX is the premium tier of the U.S. Over-the-Counter (OTC) marketplace. Its quality-controlled admission process identifies the segment of OTC-traded companies focused on valuation and transparency, distinguishing them from the thousands of other companies trading on different tiers of the U.S. OTC market. The OTCQX offers investors transparent trading, superior information, and easy access through their U.S. regulated broker-dealers. Since its inception in 2007, the OTCQX has attracted more than 165 companies, with a combined market capitalization of over US$850 billion, including several of the world's largest companies that trade on OTCQX as their main U.S. trading platform. The OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange.

Investors can find real-time level 2 quotes, disclosure and financial information about Western Lithium at www.OTCQX.com or www.OTCMarkets.com in addition to the information available on the company's website at www.westernlithium.com.

Canaccord Genuity Inc. will serve as Western Lithium's Principal American Liaison (PAL), providing guidance on OTCQX requirements.

Western Lithium is developing the Kings Valley, Nevada lithium deposit into potentially one of the world's largest(1) strategic, scalable and reliable sources of high quality lithium carbonate. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of hybrid/electric vehicles.

  1. Western Lithium has completed National Instrument 43-101 resource estimates on two portions of the property, one of which is envisioned for the initial stage of mine development. These resources cover part of the mineralization from a historical estimate of 11 million tonnes of lithium carbonate equivalent (LCE) prepared by Chevron Resources Corp. in the 1980s that encompasses all of the King's Valley lithium lens deposits identified to date, and ranks in size behind deposits in Bolivia (47 million tonnes LCE), Chile (37 million tonnes LCE), North Carolina (14 million tonnes LCE) and the DRC (12 million tonnes LCE). Source: R. Keith Evans, 2010; Roskill Information Services Ltd., 2009; and company disclosures. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources under National Instrument 43-101, the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

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