RB Energy, Formerly Canada Lithium, to produce Battery Grade Li in Q3 2014

RB Energy Inc.

TSX:RBI
OTCQX:RBEIF

April 22, 2014 08:30 ET

RB Energy Provides an Operations Update for Quebec Lithium

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 22, 2014) - RB Energy Inc. (the "Company" or "RBI" or RB Energy") (TSX:RBI)(OTCQX:RBEIF) is pleased to report that with temperatures in the Val d'Or area of Quebec rising, the Quebec Lithium concentrator was successfully restarted last week as planned. Production volumes from the concentrator are gradually being increased to enable the restart of the hydromet circuit by the end of this week. In Q2 throughputs will gradually be increased and, with the ore sorter commissioning commencing by the end of Q2, will enable commercial production levels to be achieved as scheduled in Q3. The first sales of battery grade lithium carbonate are expected to commence in May.

By the end of Q3 the crushing circuit of the concentrator will be completely winterized, enabling lithium carbonate production year round going forward. 

Commenting on the restarting of the Quebec Lithium operation, Richard Clark, President and CEO, said: "Mother nature has finally decided to allow spring to arrive. This winter in Quebec was extremely challenging. With the long duration of extremely cold temperatures, and incomplete winterization at the plant, it was not possible to operate the concentrator for the better part of 5 months. Despite this situation, we were able to successfully commence commissioning of the hydromet section of the plant and we achieved a very high grade battery product in March. With all components of the Quebec Lithium complex in operation, we now look forward to delivering into our offtake contracts. 

I would like to take this opportunity to thank our shareholders, bankers, other investors and offtake partners for their support and patience. I would also like to thank our employees for their continued commitment and determination. It has been a long road with numerous challenges, but we are very excited about being so close to achieving our goal of being a new, high quality, strategic, lithium carbonate producer." 

RBI is a Canadian company formed pursuant to the arrangement involving Sirocco Mining Inc. and Canada Lithium Corp. It currently owns Aguas Blancas, an iodine producing mine in northern Chile, and the Quebec Lithium Project near Val d'Or, the geographical heart of the Quebec mining industry. The Aguas Blancas mine is currently in production. The Quebec Lithium Project has completed construction and is in the commissioning phase. For more information regarding RBI, please refer to its public filings available at www.sedar.com.

Forward-Looking Statements

Certain information contained in this news release, including any information relating to the state of the lithium and iodine industries; statements regarding our ability and the timing to achieve and sustain commercial production and name-plate production levels of iodine; our ability to secure commercial orders from our customers; and our ability to become a material player in the lithium market are "forward-looking statements". These forward-looking statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of RBI. These forward-looking statements also reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. The estimates and assumptions of RBI underlying the forward-looking statements in this news release may prove to be incorrect. Assumptions upon which such forward-looking information include, among other things, successful and timely commissioning, ramp-up and production at the Québec Lithium Project; the lack of any further significant capital expenditures during the commissioning stage or to bring the hydrometallurgical process plant into production; the continuing support and cooperation of RBI's off-take partners; as well as financial predictions premised on such assumptions. Although the Company believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. RBI expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

Contact Information

• 
  
  RB Energy Inc.
  Sophia Shane
  (604) 689-7842
  sophias@namdo.com
  www.rb-e.com

Western Lithium Arranges US$20 Million Royalty Financing for Oilfield Drilling Additives Facility and Lithium Demonstration Plant

2 hours ago by Marketwire

Western Lithium USA Corporation ("Western Lithium", the "Company") (TSX: WLC)(OTCQX: WLCDF) is pleased to announce that it has entered into a Royalty Purchase Agreement with RK Mine Finance (Master) Fund II L.P. ("Red Kite") pursuant to which Red Kite has agreed to pay to Western Lithium up to US$20 million in consideration for the sale of a royalty on its Kings Valley Project, located in Nevada, USA.

An initial tranche of US$11 million will be funded concurrently with the closing of the royalty arrangement. A second tranche of US$9 million will be funded upon completion of the engineering and design of the lithium demonstration plant and once certain regulatory assurances have been received from the Bureau of Land Management with respect to the sale of by-products associated with lithium production, provided it occurs within three years following the date of the agreement. Closing of the royalty arrangement is expected to occur on or about February 6, 2013.

Western Lithium plans to use the initial funding tranche to construct a 10,000 ton per year process facility to produce Hectorite-based organoclay used in the oil and gas drilling industry. To make organoclay, the Company's Hectorite clay must be processed using an extruder and combined with several additives. Organoclay typically sells in a range of US$2,000 to $4,500 per short ton FOB shipping point, depending on performance. Engineering designs for a plant and negotiations for potential production locations are underway. Permitting of the Hectorite mine has commenced in Nevada and the Company is targeting to commence production and positive cash flow in early 2014 from the clay operation.

The Company has been producing pilot-scale samples of its products, which demonstrate thermal stability for application in high pressure high temperature (HPHT) drilling exploration environments. With the success of new directional drilling technology in recent years applied to shale gas and deep oil and gas drilling targets, the Company anticipates that there is a strong growth market for its thermally stable Hectorite products. 

Western Lithium's Hectorite clay is of high purity, which enables it to use a dry process to manufacture its products, that is expected to give the Company a cost advantage in the industry. A portion of the proceeds from the initial tranche will also be used to complete the design and engineering for a lithium demonstration plant.

The second tranche of funding is principally allocated towards the construction of a demonstration plant to test the viability of its lithium extraction process at a large scale. The Company released a pre-feasibility study in January 2012 (see news release dated January 27, 2012) that demonstrated competitive economics and a pre-tax net present project value of US$551 million at an 8% discount rate. Western Lithium believes that the next natural step is to work with an engineering technology group or strategic partner to further de-risk the process technology, in order to attract construction capital for the project.

Jay Chmelauskas, President and CEO of Western Lithium, commented: "Over the next year, we will focus our efforts on our specialty Hectorite drilling additive business with the expectation of generating positive cash flow for the Company in early 2014. In the longer term, we will construct a lithium demonstration plant to gain investment confidence with our project, and to realize the full potential of its asset value. We are positioning Red Kite and our shareholders and stakeholders to expected near term strong growth in the drilling industry and longer term strong growth in the lithium sector."
The royalty will be a gross royalty on all production from the Kings Valley Project. It will consist of a gross revenue royalty of 8% until the first and second funding tranches have been repaid. The royalty will then be reduced to 3.5% for the life of the project. Western Lithium will have the option at any time to reduce the royalty to 1.75% upon payment to Red Kite of US$20 million.

Western Lithium has agreed to pay a finder's fee to Haywood Capital Markets in respect of the transaction equal to 6% of the proceeds raised in both tranches. For the first tranche, the finder's fees will, subject to approval of the TSX, be paid as to US$429,000 in cash and US$231,000 in common shares issuable at the five day volume weighted average trading price of the common shares on the TSX for the five trading days immediately preceding the closing.

About Red Kite
Red Kite provides mining companies with project financing and metal off-take agreements for initiation or expansion of mine production and is part of the Red Kite group. Red Kite operates across the global metals industry from offices in Bermuda, Denver, Hong Kong, London, New York, Shanghai and Sydney. Investors in Red Kite funds include college endowments, foundations, family offices, pensions and other institutional investors.
Western Lithium is developing the Kings Valley, Nevada lithium deposit into a strategic, scalable and reliable source 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. The Company is also pursuing the opportunity to be a supplier of specialty hectorite clay drilling additives to the oil and gas industry, and in particular, to support the growth of deep directional drilling applications in high temperature and high pressure environments.
\
Cautionary Note Regarding Forward Looking Statements and Information: Certain disclosure in this release constitutes forward-looking statements and information. When used in this release, the words "will", "once", "provided", "plans", "targeting", "expected", "expectation", "anticipates", "believe" or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this release include, among others the completion of the Royalty Purchase Agreement, including both the first tranche funding and the second tranche funding, the Company's plans for and anticipated benefit from the construction of facitlities and development of hectorite based organoclay operations as well as the timing of commercial operations and positive cash flow, the results of design and engineering of lithium demonstration plant and the eventual construction of that plant. Such statements and information involve the application of certain factors and assumptions by the Company that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements and information. Such risk factors include, among others, that actual results of the Company's development activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required government approvals, that the Company will be unable to meet all conditions required for funding under the Royalty Purchase Agreement, the ability to procure required infrastructure, equipment and supplies in sufficient quantities and on a timely basis and the conditions of the markets generally. Readers are cautioned not to place undue reliance on forward-looking statements and information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise, except as required by law.
The TSX has neither approved nor disapproved of the contents of this press release. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

Contacts:
Western Lithium USA Corporation
Investor Relations
604-681-3071
604-681-3091 (FAX)
info@westernlithium.com
www.westernlithium.com

SOURCE: Western Lithium USA Corporation

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

Lithium Americas gets final approval for worlds third largest Lithium deposit

Ed Note:  Lithium Americas (LAC-TSE) was spun off by Latin American Minerals (TSE-LAT) which still owns almost 30% of LAC.

Lithium Americas Receives Final Decree, Approving the Development of its Cauchari-Olaroz Lithium Project

TORONTO, Canada, December 12, 2012 - Lithium Americas Corp. (TSX: LAC) (OTCQX: LHMAF) (“Lithium Americas” or the “Company”) is pleased to announce that it has received final project approval for the construction of its Cauchari-Olaroz lithium/potash project.

Upon the recommendation of the Committee of Experts, the Jujuy Government has executed the final decree, through the joint resolution of the Production Minister and Secretary to the Government, which approved the development of Lithium Americas’ Cauchari-Olaroz project.  Such approval includes water use permitting, confirmation of mining licences in good standing, environmental approval for lithium and potash production, and all other permits required to start project construction.

 “Lithium Americas is very proud of advancing the Cauchari-Olaroz project from discovery and exploration, through development, to fully permitted in just short of 4 years,”  stated   Dr. Waldo Perez, President and CEO of Lithium Americas. "We continue to receive an enormous level of support from multiple constituencies in Argentina. We have worked extremely hard to garner this support, which has served to accelerate the permitting and development of Cauchari-Olaroz, as well as further de-risk the project. With the permitting process concluded, our next milestone is securing project financing and off take agreements, which will allow us to initiate project construction in 2013.”

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, Chief Financial Officer

mcosic@lithiumamericas.com

416-360-1921

or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as "plan", “developing”, “estimate”, "could", "potential", "believe", "expect", "anticipate", "intend", "likely", "will" or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 28, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain or maintain governmental approvals necessary for the operation of its project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

  

Lithium Americas
357 Bay Street, Suite 602
Toronto Ontario M5H2T7
Canada

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International Lithium Corp. Prepares Drilling and Bulk Sampling Program for the Mariana Potash-Lithium Brine Project, Argentina

VANCOUVER B.C., Dec. 6, 2012 (GLOBE NEWSWIRE) -- International Lithium Corp. ("ILC" or the "Company") (ILC:TSX-V) is pleased to announce that the Company has initiated permitting and preparations for drilling and bulk sampling brine for metallurgical testing on their wholly owned Mariana Potash-Lithium project in Argentina.

A combination of sonic and reverse circulation drilling is planned to occur in the first half of 2013 to develop an understanding of the resource potential for the entire salar, but focusing on the potash and lithium concentrations and distribution in the central one-third of the salar. GEOS Mining, an Australian geological consultancy with experience in brine resource estimation, has been retained to assist in planning the project and carry out the necessary studies to support a resource estimation if warranted at this stage.

The Company will also collect bulk samples of the brine to be used for more advanced process and recovery testing. The implementation of a program to install test evaporation ponds and a pilot plant is being considered for this stage in addition to hydrogeological, climatic and geophysical studies.
"It is important to our strategic partner that we gain an early understanding of the variations in the unique chemical composition of our source material. We will be working closely with their technical teams to evaluate process methodology and determine final lithium and potassium products that can be produced from the Mariana brines." commented Kirill Klip, President of International Lithium Corp., "By conducting these studies prior to a detailed resource evaluation, we can better direct our efforts to determine the economic viability of the project."

About the Mariana Project
For maps please see http://internationallithium.com/s/marianalithium_argentina.asp
The Mariana potash-lithium brine project at Salar de Llullaillaco in Salta, Argentina, consists of several contiguous mining claims that cover an expansive 160 square kilometres. The claims strategically encompass the entire salar and a significant portion of the surrounding area (to provide site facilities for a processing plant if the project proves to be economically viable). The claims are 100% wholly optioned by the Company.

Salars, or salt lakes, host some of the largest known lithium resources in the world and the Mariana basin is one of the more prominent salars in the renowned lithium belt of South America, currently accounting for more than 70% of global lithium production.

Initial surface brine sampling revealed highly compelling geochemistry reporting average grades of 440 milligrams per litre ("mg/L") lithium and 12,700 mg/L potassium.  The potassium levels were unexpected and represent some of the highest grades comparative to any of the neighbouring salars outside of the world class operation on the Atacama salar in Chile.

International Lithium Corp. previously drilled four widely spaced reverse circulation drill holes (totalling 444 metres and positioned approximately 5 kilometers apart) to characterize the subsurface strata and brine within the 10 x 15 kilometer salar (salt lake).  Results indicate homogeneous geochemical concentrations to the maximum depth of the holes (approximately 100 metres).

The upper stratigraphic interval is primarily halite varying in depth from 18 to 32 metres in the peripheral areas and 66 metres deep proximal to the center of the salar.  Below this predominantly halite layer an extensive mixed evaporite layer approximately 32-52 metres thick, consisting of greater than 60% fine to coarse sand, was encountered in the three peripheral holes.  Below the evaporite sequences in all holes, an extensive medium to coarse grained, dark coloured, basaltic sand interval was encountered.   Brine flow measurements recorded during drilling increased markedly below the halite sequence throughout the sand rich layers.

Unconsolidated stratigraphic units with a significant granular or sand component possess physical characteristics that allow them to maintain a higher degree of permeability and porosity at greater depths than halite (salt) units.  Consequently, they represent a potential aquifer for hosting brine at depth and are an important target in the lithium-potash brine exploration model.  The measured brine densities, ranging from 1,190 to 1,298 grams per litre ("g/L"), reflect a considerable quantity of dissolved salts, approximately 10 times the salinity of seawater.

John Harrop, P.Geo, FGS, is the Company's Qualified Person on the project as defined under NI 43-101 and has reviewed the technical information contained in this press release.

About Jiangxi Ganfeng Lithium Co. Ltd.
Ganfeng Lithium, based in Xinyu, Jiangxi Province, China, is a professional producer of lithium products which has developed a comprehensive product chain, including lithium metal and alloys, inorganic and organic lithium chemicals, supplies a wide range of lithium products for primary and secondary lithium battery market, pharmaceutical and new material industries. Ganfeng Lithium's principal market is in China with international exports to Europe, Japan, the USA and India. Ganfeng Lithium was founded in 2000 and listed on the Shenzhen Stock Exchange in August 2010, notably as the first publicly listed lithium company in China and has experienced rapid continuous growth over the last 11 years.

Ganfeng Lithium is a major shareholder and strategic partner to International Lithium Corp., currently holding approximately 17.5% of the issued and outstanding shares of ILC.

About International Lithium Corp.
International Lithium Corp. is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.

The Company's primary focus is the Mariana lithium-potash brine project in Argentina within the renowned South American 'Lithium Belt' that is host to the vast majority of global lithium resources, reserves and production. The 160 square kilometre Mariana project strategically encompasses an entire mineral rich evaporite basin that ranks as one of the more prospective salars, or 'salt lakes' in the region.
Complementing the Company's lithium brine projects are rare metals pegmatite properties in Canada and Ireland that have revealed through recent highly positive results a clear potential that the Company will advance with the support of its strategic partner, Ganfeng Lithium. These projects can add distinct value as the Company strives to source rare metals to help meet the increasing demand through the growth in global technologies that utilize the rare metals suite of elements.

With the increasing demand of high tech applications in battery and vehicle propulsion technologies, lithium and other rare metals are no doubt the metals of tomorrow's green tech economy. By positioning itself with solid development partners and projects with significant resource potential, ILC aims to be the green tech resource developer of choice for investors and build value for its shareholders.

International Lithium Corp.'s mission is to find, explore and develop projects that have the potential to become world-class lithium, potash and rare metal deposits.

On behalf of the Board of Directors,
Kirill Klip
President, International Lithium Corp.
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. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contact:
Caroline Klukowski
info@internationallithium.com

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Western Lithium Provides Update on Commercial Clay and Lithium Strategy

(Marketwire - Sept. 14, 2012) - Western Lithium USA Corporation (TSX:WLC)(OTCQX:WLCDF) (the "Company" or "Western Lithium") is pleased to announce that it is continuing to advance its commercial clay strategy with the goal of becoming a specialty supplier of Hectorite clay based drilling additives to the oil and gas industry. Over the past several years, the oil and gas industry has seen strong growth from unconventional shale gas drilling in the USA. Hectorite clay based drilling additives are particularly applicable for unconventional shale drilling due to their thermal and gelling properties that can improve performance when developing deep deposits that require horizontal drilling. Last year, Western Lithium commissioned a well-equipped clay laboratory in Nevada, and has been developing formulations of gel and organoclay drilling additives to meet Association of Petroleum Institute industry standards. To make gel and organoclay, the Company's Hectorite clay must be processed using an extruder and combined with several additives. Gel typically sells for FOB shipping point US$90 to $130 per short ton and organoclay sells in a range of US$2,000 to $4,500 per short ton, depending on performance.

Western Lithium has completed pilot testing of several hundred pounds of gel and organoclay and will begin to identify certain buyers to test the performance of the products for indicative pricing and volumes. The Company believes that it can make a premium product using a cost effective dry processing method. In addition, the Company has initiated discussions with both existing producers, and potential process manufacturers, and is investigating possible sites to establish a dedicated plant.

"Our commercial clay strategy is envisioned as a low capital opportunity to generate cash flow by selling specialty drilling additives to service a growing shale drilling industry. Our business plan is designed to sustain and complement our efforts to advance our lithium project," said Jay Chmelauskas, President and CEO of Western Lithium. "We believe that we are at the forefront of a global shift towards development of cleaner, cheaper new energy resources using unconventional drilling technology. We are positioning the Company to have exposure to two transformational industries; the electrification of transportation using lithium ion batteries and development of new domestic-based and international energy sources from shale."

The Hectorite clay is located on the Company's wholly owned Kings Valley Lithium deposit in Nevada, and extraction of the clay would not be expected to impact future lithium project development. The Company continues to seek a strategic partner to fund the next stage of its lithium mine development. The recently announced US$724M acquisition of Talison Lithium Ltd. by Rockwood Holdings Inc. supports the Company's position that the lithium market fundamentals remain positive and future demand will support new production entrants. The Company believes that the main lithium demand driver will be from the adoption of hybrid and electric vehicles in the coming years. Western Lithium is strategically located in Nevada, USA, to serve domestic markets and exports to Asia.

Unconventional drilling technology using deep directional drilling and hydraulic fracking techniques has been developed over the past twenty years. Over the past decade, commercial natural gas and oil production has been established in significant shale basins within the USA. Development efforts have increased significantly over the past several years and natural gas from unconventional drilling now accounts for over 23% of natural gas production within the USA, according to the US Energy Information Administration. In addition, countries in Asia, South America, Africa and Europe have identified significant shale basins for potential exploration and development. According to the China National Energy Administration development five-year plan released on March 16, 2012, China announced that it intends to begin exploration and development of its shale gas resources to reach commercial production by 2015. The Company believes that continued growth of shale gas drilling in the USA combined with a global push towards developing shale gas resources will provide strong growth for Western Lithium's strategy to build a specialty drilling additives business.
Western Lithium is developing the Kings Valley, Nevada lithium deposit into a strategic, scalable and reliable source 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. The Company is also investigating the potential to be a supplier of specialty Hectorite clay drilling additives to the oil and gas industry, and in particular, to support the growth of unconventional drilling.
 
Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to: the potential for development of a Hectorite Clay business on the Company's Kings Valley Property; the continued growth of a hydraulic fracking industry and the use of gel and organoclay complementary to such development; the Company's ability to sell an acceptable or premium product to the lithium market and to produce a high purity and high quality lithium product for use in multiple types of lithium ion battery chemistries. When used in this document, the words such as "plan", "estimate", "expect", "intend", "may", "likely" and similar expressions are forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" in the Company's Annual Information Form for the year ended September 30, 2011 which is available at www.sedar.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Investor Relations
Western Lithium USA Corporation
604-681-3071
604-681-3091 (FAX)
info@westernlithium.com
www.westernlithium.com

The TSX has neither approved nor disapproved of the contents of this press release. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

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Rockwood buys Talison Lithium for $724 Million Cash!

Talison Lithium Limited

TSX : TLH

August 23, 2012 08:15 ET

Cash Acquisition of Talison Lithium by Rockwood

PERTH, WESTERN AUSTRALIA--(Marketwire - Aug. 23, 2012) - Talison Lithium Limited ("Talison" or the "Company") (TSX:TLH) announced today that it has entered into a definitive Scheme Implementation Agreement ("SIA") with Rockwood Holdings, Inc. ("Rockwood") under which it is proposed that Rockwood, or a wholly-owned entity of Rockwood, will acquire 100% of the ordinary shares in the capital of Talison (the "Shares") by way of a Scheme of Arrangement ("Scheme") under the Australian Corporations Act 2001 (Cth) for cash consideration of C$6.50 per share. This values the equity of Talison at approximately C$724 million on a fully diluted basis.
The cash consideration of C$6.50 per Share, represents:

• A 53% premium to Talison's last closing price on August 22, 2012 of C$4.24;
• A 52% premium to Talison's 10 day volume weighted average price ("VWAP") of C$4.28; and
• A 59% premium to Talison's 30 day VWAP of C$4.08.

The cash consideration provides an opportunity for Talison Shareholders to realise immediate value for their Shares at a substantial premium to market and reflects the size, strategic nature and growth potential of Talison's lithium operations.
The SIA entered into by Talison and Rockwood also proposes that Rockwood, or a wholly-owned entity of Rockwood, will acquire 100% of the options to acquire Shares ("Options") through an option scheme of arrangement ("Option Scheme") for cash consideration of C$6.50 per Option less the exercise price for that Option.
The board of directors of Talison ("Talison Directors") has considered the Scheme and the Option Scheme and unanimously recommends that Shareholders and Optionholders vote in favour of the Scheme and the Option Scheme, in the absence of a Superior Proposal (as defined in the SIA) and subject to an Independent Expert concluding that the Schemes are in the best interests of security holders. Each of the Talison Directors intends to vote the Shares and Options held or controlled by them in favour of the Scheme and Option Scheme.
Resource Capital Fund IV L.P. and Resource Capital Fund V L.P. (collectively, the "RCF Funds"), together having a 36.8% shareholding interest in Talison, have each confirmed to Talison that, in the absence of an offer which the RCF Funds determine is superior, they support the Scheme and intend to vote all of their Shares in favour of the Scheme.
Peter Robinson, Chairman of the Board of Talison, said, "Today marks a significant milestone in the history of Talison. Under the Scheme, Rockwood is offering cash consideration representing an attractive premium for Shareholders and allowing Shareholders to realise immediate value for their Talison Shares. This reflects positively on Talison's position in the global lithium market."
Macquarie Capital in Australia and Canada are acting as financial advisor to Talison. A special committee comprised of independent directors of Talison has received a fairness opinion from Macquarie Capital, effective on the date hereof, which provides that, subject to the assumptions and limitations contained therein, the consideration to be received by Shareholders pursuant to the Scheme is fair, from a financial point of view, to the Shareholders.
As Talison is an Australian incorporated company listed on the Toronto Stock Exchange, the Scheme will be implemented in accordance with the requirements of the Australian Corporations Act and any applicable Canadian requirements. Consistent with best practice in Australia, an Independent Expert will shortly be appointed to opine on whether the Scheme and the Option Scheme are in the best interests of Shareholders and Optionholders respectively.
Rockwood is a NYSE-listed global specialty chemicals and advanced materials company. Rockwood focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets.
The expectation of Talison's Directors is that Talison, as part of the Rockwood group, will continue to support its existing lithium concentrate customers in China and the rest of the world.
Scheme Details and Timetable
The completion of the Scheme and Option Scheme is subject to minimal conditions including:

• Approval under the Australian Foreign Acquisitions and Takeovers Act 1975 (Cth);
• Regulatory approvals from the Australian Securities and Investments Commission and the Australian Court;
• Approval of the requisite majority of Talison Shareholders at a meeting of Shareholders;
• No Material Adverse Change (as defined in the SIA) occurring to Talison; and
• No Prescribed Occurrence (as defined in the SIA) occurring in relation to Talison.

Further due diligence is not a condition to completion of the Scheme or the Option Scheme.
The SIA contains terms typical for a transaction of this nature for an Australian incorporated company, including "no shop" and "no talk" provisions (subject to typical directors' fiduciary duty exemptions), notification and matching rights.
A mutual break fee ("Break Fee") of C$7 million is also payable in certain circumstances. Talison is not liable to pay the Break Fee by reason only of the Scheme not being approved by Talison shareholders or by the Australian Courts, nor in the event that Talison Directors withdraw their recommendation for the Scheme as a result of the Independent Expert finding that the Scheme is not in the best interests of Talison Shareholders. A Break Fee is payable by Rockwood if it materially breaches an obligation under the SIA and fails to remedy such breach. Any payment of the Break Fee will be in full and final satisfaction of all claims to which the party paying the break fee may be subject.
Implementation of the Scheme and the Option Scheme will also be subject to the terms and conditions set out in the Scheme and Option Scheme documentation when issued.
Further details are included in the executed SIA which is available on SEDAR at www.sedar.com and on the Talison website www.talisonlithium.com.
Scheme and Option Scheme booklets will be mailed to Shareholders and Optionholders. The booklets will contain, among other things, further information about the Scheme, the Option Scheme, a copy of the Independent Expert's report and related securityholder meeting materials. Talison expects that the approval of the Scheme and the Option Scheme will be put to Shareholders and Optionholders at meetings expected to be held in October 2012, and that the Scheme and Option Scheme will be completed shortly thereafter.
Advisors
Macquarie Capital is acting as financial advisor to Talison. Clayton Utz and Blake, Cassels & Graydon LLP are acting as legal advisors to Talison.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release, including any information as to Talison's mineral reserve and mineral resource estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, may constitute "forward-looking information" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Talison, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such factors, estimates and assumptions include, but are not limited to: anticipated financial and operating performance of Talison, its subsidiaries and their respective projects; Talison's market position; future prices of lithium or lithium concentrates; estimation of mineral reserves and mineral resources; realization of mineral reserve and mineral resource estimates; timing, amount and costs of estimated future production; grade, quality and content of concentrate produced; sale of production; capital, operating and exploration expenditures; costs and timing of the expansion of the Greenbushes Lithium Operations; exploration and development of the Salares 7 lithium project; costs and timing of future exploration; requirements for additional capital; government regulation of exploration, development and mining operations; environmental risks; reclamation and rehabilitation expenses; title disputes or claims; absence of significant risks relating to Talison's mining operations; the costs of Talison's hedging policy; sales risks related to China; currency; interest rates, and limitations of insurance coverage. While Talison considers these factors, estimates and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Talison and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risk factors include, amount others, those described in the unaudited condensed consolidated interim financial statements of Talison and the related notes thereto as at March 31, 2012 and for the nine months ended March 31, 2012 and under the heading "Risk Factors" in the annual information form of Talison for the year ended June 30, 2011 dated September 23, 2011, each of which can be found on Talison's SEDAR profile at www.sedar.com. While Talison considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Although Talison has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this press release based on the opinions and estimates of management on the date statements containing such forward-looking information are made. Except as required by law, Talison disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

Contact Information

Talison Lithium
Frank Wheatley
Executive Director
+1 (604) 985 0528
www.talisonlithium.com

Macquarie Capital
Michael Ashforth
Executive Director
+61 (8) 9224 0644

Macquarie Capital
David Cobbold
Managing Director
+1 (416) 848 3654

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Rodinia Lithium Completes Production Well and Drill Program at Diablillos

Rodinia Lithium Inc.

TSX VENTURE : RM
OTCQX : RDNAF

July 12, 2012 09:24 ET

- First Prototype Production Well has Been Successfully Drilled and Installed in Proposed Well Field Site at Diablillos 

- In-Fill Drill and Pump Test Program Complete 

- Artesian Conditions Present in Numerous Drill Holes on Eastern Portion of the Salar Further Confirm the Near Optimal Acquifer Lithology 

- Results from the Latest Drill Program to Produce Updated Resource for Diablillos

TORONTO, ONTARIO--(Marketwire - July 12, 2012) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX:RDNAF) is pleased to provide a progress update on the Company's 100% owned Diablillos lithium-potash brine project ("Project" or "Salar" or "Diablillos") in Salta, Argentina. The Company continues to advance the project towards feasibility by completing ten additional conventional mud rotary drill holes that totaled 1604 metres. A prototype production well, 250 metres in depth, was constructed with 10-inch casing down to basement. Other drilling initiatives included seven pump testing and monitoring wells, and two fresh water monitoring well. This latest round of drilling confirmed previously announced basin lithologies and provided definitive basin/basement contacts where previously estimated.

William Randall, Rodinia's President & CEO, commented, "Having mobilized an additional rig earlier in the year has enabled us to complete our work program on schedule. We now have all the required information for a resource update, which is the first important step towards completion of the Feasibility Study. We are extremely pleased with the progress our team has made and the results achieved to date."

Three of the drill holes designed for pump tests in the eastern portion of the Salar encountered strong artesian conditions. Flow rates of up to twenty-two litres per second from these holes have been measured. While this is positive for the long term prospects of the project, as it demonstrates high hydraulic conductivity and favourable lithology, it has limited the effectiveness of the pump tests. The pressures exerted by the artesian conditions are such that down hole work was restricted.

In addition, the Company announces that it has granted an aggregate of 1,140,000 stock options of the Company (the "Options") to officers, directors, consultants of the Company. The Options shall have an exercise price of $0.175 and shall expire on July 11, 2017. The Options remain subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and remain subject to the statutory four month hold period until November 12, 2012.

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 2012, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through feasibility 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 anticipated timing with respect to the feasibility study; 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.

Contact Information

• 
  
  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

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Talison Lithium Achieves additional 10% Price Increase

PERTH, WESTERN AUSTRALIA--(Marketwire - July 12, 2012) - Talison Lithium Limited ("Talison" or the "Company") (TSX:TLH), announced today that it has agreed a price increase of 10% with customers for sales of chemical-grade lithium concentrate in the second half calendar 2012. 

Together with the 15% price increase for the first half calendar 2012 this represents a total agreed price increase of 25% for sales of chemical-grade lithium concentrate in calendar 2012. 

Prices for technical-grade lithium concentrate are negotiated annually, and, as previously announced, a 15% price increase was agreed with customers for sales of technical-grade lithium concentrate in calendar 2012.

Peter Oliver, Chief Executive Office and Managing Director, said, "We are pleased with the outcome from our recent pricing discussions with customers. We believe that the price increase may indicate a firming in demand for lithium chemicals and we will continue to closely monitor the lithium market in coming months."

ABOUT TALISON
Talison is a leading global producer of lithium and has been supplying a global customer network from the Greenbushes Lithium Operations in Western Australia for over 25 years. In anticipation of sustained growth in lithium consumption, driven primarily by the secondary lithium battery market, Talison has doubled its production capacity at the Greenbushes Lithium Operations and is advancing several growth projects including a lithium carbonate plant in Western Australia.

Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release, including any information as to Talison's mineral reserve and mineral resource estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, may constitute "forward-looking information" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Talison, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such factors, estimates and assumptions include, but are not limited to: anticipated financial and operating performance of Talison, its subsidiaries and their respective projects; Talison's market position; future prices of lithium or lithium concentrates; estimation of mineral reserves and mineral resources; realization of mineral reserve and mineral resource estimates; timing, amount and costs of estimated future production; grade, quality and content of concentrate produced; sale of production; capital, operating and exploration expenditures; costs and timing of the expansion of the Greenbushes Lithium Operations; exploration and development of the Salares 7 lithium project; costs and timing of future exploration; requirements for additional capital; government regulation of exploration, development and mining operations; environmental risks; reclamation and rehabilitation expenses; title disputes or claims; absence of significant risks relating to Talison's mining operations; the costs of Talison's hedging policy; sales risks related to China; currency; interest rates, and limitations of insurance coverage. While Talison considers these factors, estimates and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Talison and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risk factors include, amount others, those described in the unaudited condensed consolidated interim financial statements of Talison and the related notes thereto as at March 31, 2012 and for the nine months ended March 31, 2012 and under the heading "Risk Factors" in the annual information form of Talison for the year ended June 30, 2011 dated September 23, 2011, each of which can be found on Talison's SEDAR profile at www.sedar.com. While Talison considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Although Talison has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this press release based on the opinions and estimates of management on the date statements containing such forward-looking information are made. Except as required by law, Talison disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
 
FOR FURTHER INFORMATION PLEASE CONTACT:

Gary T. Dvorchak, CFA
ICR, LLC
Senior Vice President
+1 (310) 954-1123
Gary.Dvorchak@icrinc.com

OR

Nicole Smith
Talison Lithium Ltd
+1 (647) 343-1992
investorrelations@talisonlithium.com

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