Ucore Rare Metals Appoints Mine Permitting Manager for Bokan Mountain Project

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Ucore Rare Metals Inc.
TSX VENTURE : UCU
OTCQX : UURAF

March 19, 2012 08:41 ET

HALIFAX, NOVA SCOTIA--(Marketwire - March 19, 2012) - Ucore Rare Metals Inc (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or "the Company") is pleased to announce the appointment of Randy MacGillivray as Senior Mine Permitting Manager for the Bokan Heavy Rare Earth project on Prince of Wales Island in Alaska, USA.

Randy MacGillivray is an Environmental Geoscientist with over 20 years of environmental and geological management experience based in Alaska, Colorado, Idaho, Nevada, Canada, New Zealand, Chile, Guyana and Bolivia. Randy has mine project management experience involving the full-spectrum of permitting, compliance, reclamation, remediation, and water quality planning involving both active chemical and passive biological treatment systems.

Randy has experience in establishing and auditing environmental management systems, including community and First Nations consultation and engagement strategies. He has served as the Environmental Manager for Coeur Alaska at the Kensington Gold Project during the final round of permitting which obtained the successful Record of Decision and Corp of Engineers 404 operating permits. Randy graduated with a Bachelor of Science in Geology from the University of British Columbia and is a licensed Professional Geoscientist in British Columbia.

"We're excited to have attracted a senior representative with the depth of experience in permitting such a major Alaskan operation as Kensington," said Jim McKenzie, President & CEO of Ucore. "Few people would have the broad skill set and Alaska-specific knowledge that Randy brings to Ucore. He'll be working in close cooperation with the State of Alaska, the US Forest Service, and associated regulators to bring Bokan into production without delay. Randy represents the first of a comprehensive team of mine development specialists being assembled by Ucore COO Ken Collison, and we welcome him to the Ucore team."

Background
Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. With multiple projects across North America, Ucore's primary focus is the 100% owned Bokan - Dotson Ridge REE property in Alaska. The Bokan - Dotson ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in expediting mine production and limiting the capital costs associated with mine construction.

The Bokan properties are located in an area reserved for sustainable resource development with an existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson ridge project occurs in a well-demarcated vein system related to a Mesozoic Bokan peralkaline granitic complex. However, a number of other occurrences of REE mineralization are also located within, or at the margins of the complex. Viewed in a geological and geophysical context, the Bokan complex is a distinctive circular structure and is highly prospective for rare earths deposits.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Contact Information

Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com

Rodinia Lithium Clayton Valley Nevada project moves forward

Rodinia Lithium Corp
TSX-RM   Nasdaq-RDNAF

• BLM HAS CONDITIONALLY APPROVED RODINIA’S PLAN OF OPERATIONS PERMITTING ADDITIONAL DRILLING IN CLAYTON VALLEY, NEVADA
• PLAN OF OPERATIONS OUTLINES A DRILL PROGRAM WITHIN  A SOUTHERN VALLEY TRENCH WHERE HIGHER LITHIUM CONCENTRATIONS MAY BE FOUND AS A POTENTIAL EXTENSION OF AQUIFERS  INTERSECTED IN PREVIOUS DRILLING FURTHER NORTH AND ADJACENT TO THE NEIGHBORING SILVER PEAK LITHIUM PRODUCING OPERATION
• BLM WILL NOW SOLICIT PUBLIC COMMENT ON THE PLAN OF OPERATIONS
• RODINIA HAS COMMISSIONED AN ENVIRONMENTAL ASSESSMENT AS REQUIRED UNDER THE NEPA THAT MAY FORM PART OF THE PUBLIC COMMENT PROCESS

Toronto, Canada, March 1, 2012: Rodinia Lithium Inc. (“Rodinia” or the “Company”) (TSX-V: RM; OTCQX: RDNAF) is pleased to announce that it has received confirmation that the Plan of Operations (“PoO”) submitted by the Company’s US subsidiary, Donnybrook Platinum Resources, Inc., in respect of Rodinia’s wholly owned Clayton Valley lithium-brine project, meets the content requirements as determined by the Bureau of Land Management’s (“BLM”) Tonopah Office in Tonopah, Nevada, USA.

William Randall, Rodinia’s President & CEO, commented, “We are extremely pleased to have received this confirmation from the BLM and to once again be in a position to start planning and moving ahead with our much anticipated exploration program in Clayton Valley.  We intend to resume drilling once the Environmental Assessment and public comment period are complete with the intention of delineating a lithium brine resource in the southern trench that extends the length of our southern claim package.”

EPG Inc., environmental consultants out of Phoenix, Arizona, have been commissioned to complete an Environmental Assessment (“EA”), which will address specific issues as required under the National Environmental Protection Act (“NEPA”).  Concurrently, or as part of the EA, the PoO will be posted for a 30-day public comment period and will address public concerns.  A meeting to discuss the NEPA requirements has been set for Tuesday, March 6th, at 9:30 AM between the Company and BLM.  Further information regarding the process will be communicated to the public following this meeting.

The Project is supervised by Ray Spanjers, Rodinia’s Manager of Exploration.  Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release.

About Rodinia Lithium Inc.:

Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America.  The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.

Rodinia’s Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent.  The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.

The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada’s lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit.  The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.

The Projects are supervised by Ray Spanjers, Rodinia’s Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.

Please visit the Company’s web site at www.rodinialithium.com or write us at info@rodinialithium.com. 

For further information please contact
Investor Cubed Inc.
Investor Relations                                                                                          
Tel: +1 (647) 258-3311

Aaron Wolfe
Vice-President, Corporate Development
Tel: +1 (416) 309-2696

Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the anticipated timing with respect to the acceptance of the POP; anticipating timing with respect to receipt of various approvals required in order to proceed with the POP; ; the potential of the Diablillos property; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements.  Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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.

Updates: March 14th, Salman Partners raises price target to C$1.05

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Western Lithium Pre-Feasibility Study Indicates $550 Million NPV and Supports Low Cost Lithium Production in Nevada

Western Lithium USA Corporation

TSX : WLC
OTCQX : WLCDF

December 14, 2011 08:30 ET

RENO, NEVADA--(Marketwire - Dec. 14, 2011) - Western Lithium USA Corporation (TSX:WLC)(NASDAQ-OTCQX:WLCDF) ("Western Lithium" or the "Company") is pleased to announce the completion of a positive Pre-feasibility Study for its wholly-owned Kings Valley Lithium Project in Nevada, USA. Two scenarios were evaluated: A startup scenario based on mining and processing ore at a design throughput rate of 2,100 tonnes per day (13,000 tonnes per annum lithium carbonate), and a full production scenario to double production four years after startup (26,000 tonnes per annum lithium carbonate). The study demonstrates that the project could produce lithium carbonate at an estimated average cash cost, net of by-product credits, of $968 per tonne once full production of 26,000 tonnes per year lithium carbonate is achieved. Initial startup capital, including contingency is expected to be approximately $248 million. Incremental development capital to double lithium carbonate production to 26,000 tonnes per year is estimated at approximately $161 million. Sustaining capital of $40 million including contingency, is primarily composed of surface mine equipment, expansions of dry stack tailings and surface water management, and mine closure.

The study was undertaken by a collaboration of independent industry specialist firms including Tetra Tech, Inc. (Tt), Reserva International, LLC and K-UTEC AG Salt Technologies (K-UTEC). The study has been prepared in accordance with Canadian securities National Instrument 43-101 and Form 43-101F1 regulatory requirements. All amounts are stated in US dollars, unless otherwise indicated.
Project highlights for nominal production of 26,000 tonnes per year lithium carbonate:

• Pre-tax Net Present Value (NPV) of $552 million with an Internal Rate of Return (IRR) of 24% at an 8% discount rate;
• Operating cash costs, net of by-product credits, of $968 per tonne of lithium carbonate;
• Cash operating costs distributed between the individual products are: lithium carbonate $3,011 per tonne, potassium sulfate $87 per tonne, sodium sulfate $36 per tonne;
• Total cash operating costs per tonne (excluding credits) for lithium carbonate are $3,472 per tonne lithium carbonate;
• Once full lithium carbonate production of 26,000 tonnes per year is achieved, average annual cash flow is projected to be $124 million per year;
• Nominal production of by-product potassium sulfate and sodium sulfate of 90,000 and 100,000 tonnes per year, respectively;
• 20 year mine life, processing 25.5 million tonnes of ore at an average grade of 0.40% lithium using a 0.320% cut-off grade;
• Initial annual production of 13,000 tonnes lithium carbonate, increasing to 26,000 tonnes in year four;
• Nevada supports a large diversified mining industry;
• The project benefits from established infrastructure including road access, power supply and a local water source;
• Based on commodity prices of $6,000 per tonne lithium carbonate, $600 per tonne potassium sulfate, and $75 per tonne sodium sulfate;
• Overall recoveries are expected to be 87.2% for lithium, 77.7% for potassium and 82.7% for sodium.

Under the startup scenario, lithium carbonate production is expected to commence in 2015 at an annual rate of 13,000 tonnes per year. Full production of 26,000 tonnes per year is planned four years after initial startup, if demand for lithium increases.

Jay Chmelauskas, President of Western Lithium, stated, "As an electric car owner, the move to automobile electrification now seems obvious and imminent. Our deposit in Nevada has the potential to make the USA self sufficient in Lithium to support up to one million electric vehicles per year. Production of lithium in Nevada not only has the benefit of long-term mining and chemical industry jobs, but also has the potential to support downstream technology and manufacturing jobs in America. Lithium is the enabling metal for electric transportation."

Mr. Chmelauskas continued, "Upcoming key milestones for the Company include; submission of the Plan of Operations to the Bureau of Land Management initiating the formal permitting process (Q1 2012), starting construction of a lithium carbonate demonstration plant, and commencing work on a definitive feasibility study in 2012. We believe that there is a strong future for electrification and that the Stakeholders of Western Lithium and Nevada can strongly benefit and profit from this industry."

Project Overview
The Project is located in Humboldt County, Nevada, USA approximately 100 km north-northwest of Winnemucca along U.S. Highway 95 to Orovada and then 40 km west-northwest of Orovada, Nevada on paved State Highway 293. WLC has claims that encompass five areas of lithium mineralization. These five areas are covered by 1,049 Federal unpatented claims over an area of 8,480 hectares.
Lithium ore and waste rock will be extracted via an open-pit mine operation using end-dump haul trucks, hydraulic shovels, and a Wirtgen surface miner. Waste rock will be mined with a shovel/truck combination, while ore will be mined with the Wirtgen unit and direct loaded into haul trucks.
Mineral Reserves

Kings Valley Ore Reserves at 0.320% Lithium Cut-off
Category	Tonnes (millions)	Lithium (%)	Potassium (%)	Sodium (%)
Proven	14.937	0.400	3.850	1.370
Probable	12.198	0.388	3.930	1.360
Total	27.135	0.395	3.880	1.360

The reserve estimate takes into consideration all geologic, mining, processing, and economic factors, and is stated in accordance with Canadian securities NI 43-101 and Form 43-101F1.

A National Instrument 43-101 compliant technical report will be filed within 45 days of this announcement.

Qualified Person
The Pre-Feasibility Study was supervised by Randolph P Schneider of Tetra Tech, Inc. He is a Qualified Person as defined by NI 43-101, and is independent of the Company, as defined by Section 1.5 of NI 43-101. Mr. Schneider has reviewed and approved the scientific and technical data in this news release.
Edwin C. Lips, PE, of Tetra Tech, Inc. was responsible for mine planning and the ore reserve estimate. He is a Qualified Person as defined by NI 43-101, and is independent of the Company, as defined by Section 1.5 of NI 43-101.
Western Lithium is developing the Kings Valley, Nevada lithium deposit into potentially one of the world's largest 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.

Forward-Looking Statements
Certain of the statements made and information contained herein, including the mine plan, costs, financial estimates and other conclusions in the Pre-feasibility Study, the reserve estimates themselves, the timing of the commencement of development and commercial production, the completion of milestones necessary to commence commercial production, is "forward-looking information" within the meaning of the Ontario Securities Act. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary governmental permits, risks inherent in mine planning and development such as cost overruns, metallurgical and recovery factors and financing risks; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, and other risks and uncertainties, including those described in our Annual Information Form and each management discussion and analysis. Forward-looking information is in addition based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of lithium; appropriate equipment and sufficient labour and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. The Company does not assume any obligation to update forward looking statements except to the extent required by applicable securities laws.

Contact Information

Western Lithium USA Corporation
Brian Bergot
Investor Relations
604-331-9842
info@westernlithium.com
www.westernlithium.com

Western Lithium Production Video

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Ucore Takes Part in Congressional Briefing on US Domestic Rare Earth Supply Chain

Ucore Rare Metals Inc.

TSX VENTURE : UCU
Nasdaq - OTCQX : UURAF

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 10, 2011) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to report that the Company has taken part in a Congressional Briefing on the importance of establishing a domestic rare earth supply chain within the United States. The November 7 Washington DC – based event was hosted by Senator Lisa Murkowski (R-AK) and the Senate Energy and Natural Resources Committee. The briefing was for the benefit of U.S. Senate, House and Committee Staff and other Administration officials. A panel comprised of leaders of U.S. Magnetic Materials Association (USMMA), including Ucore President & CEO Jim McKenzie, discussed issues associated with the expedited building of a self contained critical rare earth supply chain on US soil, from mine to magnet.

Nearly 40 key staff and congressional decision makers attended the briefing, representing multiple states and committees, including Senate Foreign Relations, Senate Energy & Natural Resources, Senate Environment & Public Works, as well as House Science, Space, & Technology. Ucore's Bokan Mountain project received particular notice for its positioning as having supply source material in the form of the largest NI 43-101 compliant deposit of heavy rare earths in the United States, including near term access to dysprosium, a technology metal identified by the Department of Energy as being among the most highly sought after "critical materials" to the US. Ucore was also identified as having a favorable permitting environment in the state of Alaska, logistical advantages and ready access to capital, as well as a highly motivated geo-political environment for the re-establishment of the US as a leader in rare earth supply and manufacturing.

In his panel address, McKenzie warned of the emerging worldwide trend toward "resource nationalism" and protectionist policies toward critical rare earth supply sources around the globe. His thesis was that only the United States itself could be expected to look out for domestic interests in terms of ongoing access to these critical materials, and only an independent, integrated domestic supply chain can reliably be expected to achieve this end. Panelists discussed how the US' traditional means of securing supply through being the highest bidder in international markets was likely to fail as protectionist policies are implemented around the globe. McKenzie stressed that restarting the rare earth supply chain within the United States is essential not only for national security and clean technology, but also as a means to putting American-based ingenuity back to work and avoiding further degradation of the county's industrial base.

Fellow members of USMMA on the panel, representing downstream applications of the rare earth magnetics industry included Ed Richardson (President USMMA/Vice President, Thomas & Skinner), Jack Lifton (Principal Founder, Technology Metals Research) Peter Dent (Vice President Electron Energy Corporation) and Rob Strahs (Vice President Arnold Magnetic Technologies).
Background
Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. With multiple projects across North America, Ucore's primary focus is the 100% owned Bokan - Dotson ridge REE property in Alaska. The Bokan - Dotson ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in expediting mine production and limiting the capital costs associated with mine construction.

The Bokan properties are located in an area reserved for sustainable resource development with an existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson ridge project occurs in a well-demarcated vein system related to a Mesozoic Bokan peralkaline granitic complex. However, a number of other occurrences of REE mineralization are also located within, or at the margins of the complex. Viewed in a geological and geophysical context, the Bokan complex is a distinctive circular structure and is highly prospective for rare earths deposits.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Contact Information

Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com

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Rodinia Lithium Receives Preliminary Processing Results for Lithium Recovery at the Salar de Diablillos Project

Rodinia Lithium Inc.
TSX VENTURE : RM
OTCQX : RDNAF


- A Favourable Preliminary Brine Processing Report has Been Received for Diablillos
- Excellent Results With Average Recovery of Lithium of 65 Percent 

- Relative to Lithium Carbonate Production, Co-Products of Potash (at A Rate of 13:1) and Boric Acid (at A Rate of 1:1) Are Expected to Be Harvested 

- A Conventional Recovery Process That Will Employ A Combination of Solar Evaporation and Chemical Processing to Produce Lithium Carbonate

TORONTO, ONTARIO--(Marketwire - Oct. 11, 2011) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX:RDNAF) is pleased to announce that it has received a preliminary processing report for its Salar de Diablillos project ("Diablillos" or "Salar") located in Salta Province, Argentina. The report is authored by Mr. Robert Cinq-Mars and describes a detailed process to recover lithium carbonate from the subterranean brines of Diablillos. The proposed lithium recovery process is a combination of solar evaporation steps, in-field brine treatment, co-product potash ("KCl") and boric acid recovery, and chemical processing to produce lithium carbonate. The process results in a high lithium recovery of 65% once the brine is saturated producing 131,200 tonnes of KCl sylvinite and 10,250 tonnes of boric acid for every 10,000 tonnes of lithium carbonate.
William Randall, President & CEO of Rodinia, commented "This processing report demonstrates the high quality brines of the Diablillos aquifers, resulting in a clean and efficient process with excellent recoveries of lithium. The low impurity levels, in particular magnesium and sulphate, allow for the harvesting of potash as a high impact co-product. The brine quality also ensures that the processing requires conventional reagents at moderate levels, meaning that we will not need to source expensive and hard to find chemicals. I would like to thank Mr. Cinq-Mars for his hard work and expertise that has produced this low-cost method. The findings described in the report will be incorporated into our upcoming Preliminary Economic Assessment."
The process was designed from initial brine with an average composition of 580 mg/L lithium, 7200 mg/L potassium, and 520 mg/L boron. The initial magnesium to lithium and sulfate to lithium ratios were 3.4 and 14.8 respectively. The process contemplates a series of ponds from largest to smallest, where the largest is used to bring brine to saturation and is designed to be unlined, reducing the capital cost of pond construction. Brine extracted from the final pond will have a concentration of approximately 12% lithium chloride and will be transported to the treatment facility, where boric acid and lithium carbonate are produced.
The process was developed and designed by Mr. Robert Cinq-Mars. Mr. Cinq-Mars has a wealth of experience in process design and management. His work experience includes 20 years in the lithium industry. During his time with Lithium Corporation of America, subsequently purchased by FMC Corporation, Mr. Cinq-Mars was Manager of New Resources and Process Development. Mr. Cinq-Mars' work included process research and development of three routes to recover lithium from new reserves, physical evaporation studies in laboratory to support process design, and identification of alternate lithium resources in the world.
The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m³ grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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.

Contact Information

Investor Cubed Inc.
Investor Relations
+1 (647) 258-3311

Aaron Wolfe
Vice-President, Corporate Development
+1 (416) 309-2696

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Rodinia Lithium Confirms High Transmissivity and Effective Porosity of Brine-Containing Sediments With Initial Pumping and Tracer Test Results

Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX: RDNAF)
is pleased to provide an update on progress at its Salar de Diablillos project ("Diablillos" or "Salar") located in Salta Province, Argentina. Results for the first series of pumping and tracer tests performed at Diablillos have been processed, resulting in high transmissivity and effective porosity values. The estimated total transmissivity is more than 300 m2/day with horizontal hydraulic conductivity of about 4 m/day. The estimated effective porosity is 15%. These parameters translate to higher recovery rates per well and an overall higher recovery of the in-situ brine in the event of production.

William Randall, President & CEO of Rodinia, commented "The results of these pump tests are a resounding success for the company and an important step in confirming the productive potential of the Salar. The resultant high transmissivity and effective porosity values, as determined by these tests, confirm Diablillos' very large recoverable resource, and allow us to estimate the well requirements for our upcoming Preliminary Economic Assessment, which we expect to be able to deliver in the fourth quarter of this year." 

The pumping test site consisted of two pumping wells and four monitoring wells. Pumping tests were performed for 18 hours and 72 hours, using tracer dye injected in an observation well within the lower sediments to monitor brine flow, and a cyclone to neutralize the effects of the gas dissolution from the brine.
SRK Consulting ("SRK") was retained earlier this year to design and supervise the pumping tests as well as to complete the upcoming Preliminary Economic Assessment. SRK has a demonstrated record of accomplishment in undertaking independent assessments of mineral resources and mineral reserves, project evaluations and audits, technical reports and independent feasibility evaluations to bankable standards on behalf of exploration and mining companies and financial institutions worldwide. SRK has also worked with a large number of major international mining companies and their projects, providing mining industry consultancy service inputs. SRK is a leading international practice in due diligence, scoping, pre-feasibility and feasibility studies that employs seasoned specialists in each field of science, geology and engineering. They have extensive experience with in-situ recovery and brine extraction type projects around the world, including Argentina.

 SRK's team is led by Terry Braun and Dr. Vladimir Ugorets as Qualified Persons for the project. Dr. Ugorets has more than 32 years of professional experience in hydrogeology, developing and implementing groundwater flow and solute-transport models related to mine dewatering, groundwater contamination, and water resource development. Dr. Ugorets' areas of expertise are in design and optimization of extraction-injection wellfields, development of conceptual and numerical groundwater flow and solute-transport models, and dewatering optimization for open-pit, underground and ISR mines.

The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.

About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.

Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43-101.

Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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.

Contacts:
Investor Cubed Inc.
Investor Relations
+1 (647) 258-3311

Rodinia Lithium Inc.
Aaron Wolfe
Vice-President, Corporate Development
+1 (416) 309-2696
info@rodinialithium.com
www.rodinialithium.com

SOURCE: Rodinia Lithium Inc.

mailto:info@rodinialithium.com
http://www.rodinialithium.com

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Rodinia Lithium reports positive results at its Clayton Valley Nev Brine property.

RODINIA LITHIUM INC. REPORTS 285 Mg/L LITHIUM OVER 145 METRES AT THE CLAYTON VALLEY PROJECT

February 16, 2011

• INCREASED RESOURCE POTENTIAL IN THE SOUTHERN GRAVITY LOW

• LARGE MINERALIZED INTERSECTION AVERAGING 285 mg/L LITHIUM OF 145 METRES IN SPD-09

• SECTION INCLUDES PREVIOUSLY REPORTED ZONE AVERAGING 370 mg/L LITHIUM OVER 24.2 METRES, AND IS IMMEDIATELY ADJACENT

• MINERALIZED ZONE DISCOVERED IMMEDIATELY SOUTH OF CURRENT LITHIUM PRODUCING PROPERTY

Toronto, Ontario, February 16, 2011: Rodinia Lithium Inc. (“Rodinia” or the “Company”) (TSX-V: RM; OTCQX: RDNAF), is pleased to report additional results from its Clayton Valley lithium brine property located in Nevada, USA (“Clayton Valley” or the “Property”).  Further analysis of drill results from the 2010 drilling campaign has led to the recognition of an extended mineralized horizon immediately adjacent to the intersection

Western Lithium Corp Graduates to TSX listing on Feb 2 2011.

Image via Wikipedia1 hour ago by Marketwire

Western Lithium USA Corporation (TSX VENTURE: WLC)(PINK SHEETS: WLCDF) is pleased to announce that its common shares will be listed and commence trading on the Toronto Stock Exchange (TSX) at the opening of the market on Wednesday, February 2, 2011.

The company's current trading symbol, WLC, will remain unchanged and the company's stock symbol in the U.S. will also remain unchanged as WLCDF.

Rodinia Lithium obtains financing for Diabillos property development.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION TO THE UNITED STATES

RODINIA LITHIUM INC. ANNOUNCES CDN$10,000,000 BOUGHT DEAL FINANCING

January 18, 2011

United States invests in Electric Vehicle future!

Image via Wikipedia

United States Department of Energy Boosts 2011 Electric Vehicle Manufacturing and Infrastructure Market With $184 Million Grant

Western Lithium to Purchase Royalties and Mineral Property Titles From Western Uranium

Western Lithium USA Corporation TSX VENTURE: WLC PINK SHEETS: WLCDF

Western Uranium Corporation TSX VENTURE: WUC PINK SHEETS: WURNF

Dec 15, 2010 09:20 ET

RENO, NEVADA--(Marketwire - Dec. 15, 2010) - Western Lithium USA Corporation ("Western Lithium" or "WLC") (TSX VENTURE:WLC)(PINKSHEETS:WLCDF) and Western Uranium Corporation ("Western Uranium" or "WUC") (TSX VENTURE:WUC)(PINKSHEETS:WURNF) have reached an agreement in principle for the purchase, by WLC, of Western Energy Development Corporation ("WEDC"), a wholly-owned subsidiary of WUC that holds royalties and titles for substantially all of the Kings Valley mineral property holdings in Nevada. The parties have agreed that WLC will pay to WUC Cdn$6.85 million in WLC shares as consideration for the transfer of WEDC.

The transaction is designed to transfer all of the lithium properties out of WUC's portfolio, and represents the culmination of a spin-out process that started when WLC was initially formed as a subsidiary of WUC. WUC will now be able to focus more fully on growth through acquisitions and mergers, investments, and exploration globally and with more of a diversified commodities approach.

As a result of this transaction, the existing lease and royalty arrangements between the two companies on the King's Valley property, including a Net Smelter Return of 1.5% and Net Profits Royalty of 3.5% on any lithium project that WLC developed, are eliminated. WLC gains full control of the Kings Valley property claims, excluding the Albisu gold exploration target noted below and a proposed royalty to be granted to Cameco Global Exploration II Ltd. ("Cameco") solely in respect of uranium as described below, thereby improving the corporate structure for WLC to develop its Stage I lithium deposit. The agreement also eliminates the need for continuing future lease payments by WLC of US$4 million.

Details of the Transaction

• WLC will purchase 100% of the issued and outstanding shares of WEDC, thereby acquiring all of WUC's direct and indirect interest in the Kings Valley mineral property, including mineral titles, leases, data and royalties. The Albisu gold property, located at the northern end of the Kings Valley property, and the Treeline Uranium exploration project, located in New Mexico, both of which are currently held by WEDC, will be transferred out of WEDC before completion of the transaction. 

• The purchase price will be Cdn$6.85 million, to be paid through the issue by WLC of 5,855,000 WLC common shares at a deemed price of Cdn$1.17.

• WUC's Strategic Alliance with Cameco, related to the exploration and development of uranium properties, will be concluded as a related part of the transaction with WLC, for consideration of Cdn$2.5 million to be paid by WUC to Cameco and the grant to Cameco of a 20% gross overriding royalty over the Kings Valley mineral property solely in respect of uranium.

• As part of the transaction, WUC has agreed to dispose, in due course, of its common shares in the capital of WLC following completion of the transaction in one or more block trades or off-market transactions until it is no longer an insider (ie. holds less than 10% of outstanding shares), and until it completes such disposition to refrain from voting against management nominees to the WLC board of directors and to vote in favour of any arm's length third party change of control transaction proposed by WLC's management.

The transaction is subject to negotiation and settlement of definitive agreements, the termination of the Strategic Alliance Agreement, completion of due diligence by WLC and all requisite third party approvals, including stock exchange and securities approvals.
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.
Western Uranium Corporation is a mineral exploration company with properties in Argentina, Nevada, and New Mexico and an earn-in agreement with Renaissance Gold Inc. (formerly AuEx Ventures, Inc.) for the Baza gold-copper project in Spain. The Company has its head office in Vancouver, Canada; its executive management team is based in Reno, Nevada.
(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. 
 
Forward Looking Statements
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act, including the completion of definitive agreements governing the transaction noted above and settling of all other outstanding conditions for completion of the transaction. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including obtaining regulatory approval, the relevant parties settling all terms and conditions for applicable definitive agreements and other risks and uncertainties, including those described in each management discussion and analysis. Forward-looking information is in addition based on various assumptions including, without limitation, the expectations and beliefs of management. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. The companies do not have a policy of updating forward looking information, except to the extent required by applicable securities laws.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. 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 press release.

For more information, please contact
Western Lithium USA Corporation
Cindy Burnett
Vice President, Investor Relations
+1-604-331-9842
info@westernlithium.com
www.westernlithium.com
or
Western Uranium Corporation
Pamela Klessig
Chief Executive Officer
+1-775-827-3311
info@westernuranium.com
www.westernuraniumcorp.com

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Rodinia Lithium Inc. Intersects 204 Metres Grading 536 mg/L Lithium at Salar de Diablillos

4 hours ago by Marketwire

Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE: RM)(OTCQX: RDNAF), is pleased to report that it continues to intersect high-grade lithium and potash in its reverse circulation drilling exploration program on its Salar de Diablillos lithium-brine project in Salta, Argentina ("Diablillos" or the "Salar"). The Company has commissioned a second drill which is already operational on the property as a result of the successful exploration program and to ensure timely delivery of an initial resource estimate.

William Randall, President and CEO of Rodinia, commented "we continue to intersect high quality lithium brines in the southern portion of the Salar. Hole D-RC-11 is remarkable in that we have intersected 204 metres of high grade mineralized brines in a single aquifer composed almost exclusively of sand and gravel. These conditions are extremely favourable, especially in an area we did not have high expectations for. The drills have now moved to the northern portion of the Salar where the higher grade brines are expected, based on the auger drill results."

Results from the latest four drill holes are summarized in Table 1. All the holes reported in this press release were drilled in the southern lower grade portion of the Salar as determined by the surface auger drilling. The reverse circulation drill holes were drilled vertically to ensure proper representation of the stratigraphic column. As in the previous drill holes, the distribution of lithium concentrations over the hole are remarkably even, suggesting that the entire stratigraphic column below the near surface clays represents a single aquifer, composed primarily of sands and gravels. The clay content in all holes drilled to date has been low to negligible. Holes D-RC-10 and D-RC-11 both may have encountered basement rocks towards the bottom of the hole where schistose material was detected in the cuttings. The depths at which the basement is thought to have been encountered are substantially greater than those predicted by the gravity survey, increasing the potential value of the basin.

-----------------------------------------------------------------------
-----
                   From          Interval     Li      K      B
Drill Hole          (m) To (m)        (m) (mg/l) (mg/l) (mg/l)  Mg:Li SO4:Li
----------------------------------------------------------------------------
D-RC-08         Artesian brine
                        @ 70.5               260   2200    550   3.50  14.23
----------------------------------------------------------------------------
zone open at depth
----------------------------------------------------------------------------
D-RC-09              24     60         36    521   6063    556   3.64  14.96
----------------------------------------------------------------------------
zone open at depth
----------------------------------------------------------------------------
D-RC-10            brine @ 36m               560   7100    480   4.29   8.39
----------------------------------------------------------------------------
D-RC-11              60    264        204    536   5638    741   3.48  12.09
----------------------------------------------------------------------------

Asampling procedure was enforced by management to ensure sample integrity during the drill program. Where possible, brine and sediments samples were air lifted, and water restricted to the upper part of the hole before the water table was intercepted. Once brine bearing horizons were intercepted, drilling was halted and the drilling pipe lifted 2 feet or more to allow the total flushing of the internal pipe by means of air pressure for approximately ten minutes or until the brine appeared reasonably clean of sediment. After sufficient air lifting of the brine, a sample was collected in 500 ml sample bottles that had been washed three times with the brine. Liquid was also collected in five gallon buckets and the time of filling of the bucket recorded, in order to aid in quantifying the formational flow.

The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
--------------------------------------------------------------------------------------------------------
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Salar de Diablillos project in Salta, Argentina.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com. Follow us on Twitter: http://twitter.com/RodiniaLithium.

Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; the anticipated timetable with respect to the an initial resource estimate; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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.

Contacts:
Investor Cubed Inc.
Neil Simon
+1 (647) 258-3311

Rodinia Lithium Inc.
Aaron Wolfe
Vice-President, Corporate Development
+1 (416) 309-2696
www.rodinialithium.com

SOURCE: Rodinia Lithium Inc.

http://www.rodinialithium.com

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SIFMA Calls System Wide, Moratorium on All mortgage Foreclosures ‘Catastrophic’

Image via Wikipedia

Press Release

Release Date: October 11, 2010

Contact: Katrina Cavalli, (212) 313-1181, kcavalli@sifma.org

New York, NY, October 11, 2010—The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement from Tim Ryan, president and CEO, on the foreclosure moratorium related to issues in foreclosure processing:

“It would be catastrophic to impose a system wide moratorium on all foreclosures and such actions could do damage to the housing market and the economy.  It must be recognized that the mortgage market, investors and the health of the economy are all inter-related. Investors in the housing market—including American workers with pension funds, 401k plans, and mutual funds—would unjustly suffer losses in their savings from these actions.  Increased uncertainty in the securitization market would further constrain consumer credit and spending, dampening our already unhealthy economic situation.  If mistakes have been made in relation to foreclosure processing, SIFMA firmly believes such mistakes should be corrected.  It is imperative, however, that care be taken in addressing these issues to ensure that no unnecessary damage is done to an already weak housing market and, in turn, that there is no further negative impact on the economy.”

-30-

The Securities Industry and Financial Markets Association (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers.  SIFMA's mission is to support a strong financial industry, investor opportunity, capital formation, job creation and economic growth, while building trust and confidence in the financial markets.  SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).  For more information, visit www.sifma.org.

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