TNR Gold prepares spinnoff of International Lithium Corp

TNR Gold Corp. States No Adverse Material Change/Proceeding as Proposed With International Lithium Spin-Off

September 28, 2010 - 07:43:24 PM

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2010) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR) and wholly-owned International Lithium Corp. ("ILC") (jointly the "Company") is stating that the Company knows of no adverse material change that would explain the recent market activity and is proceeding with the plan of arrangement to spin-off of the Company's rare metal projects into International Lithium Corp.

In order to complete the plan of arrangement, the Company is intending to raise a minimum of $2.5 million to provide International Lithium with sufficient operating and administration funds to satisfy Exchange requirements for listing. The proposed financing will entail the offering of a minimum of 10 million units in ILC priced at $0.25 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of ILC at a price of $0.375 for a period of two years from the date of closing. Certain fees may be payable for a portion of the placement.

Company executives are focused on the completion of the private placement in an expeditious manner including traveling abroad to China and Europe to transact with potential investors and end product users that the Company has developed strong relationships with over the course of the last year.

Non-Executive Chairman and major shareholder Kirill Klip plans to participate in this financing along with other insiders.

Upon closing of the financing the Company will file the required final paperwork with the applicable regulatory bodies in order to complete the listing process of International Lithium Corp.

ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp upon completion of a proposed plan of arrangement.

The objective of the proposed plan of arrangement is to spin out the Company's rare metals property interests into a separate public company, International Lithium Corp. This proposed plan of arrangement has been approved by the Company's shareholders and the courts of British Columbia. The Company will now proceed with the spin out and will provide updates on the progress of the spinout in further news releases. For further details of the spinout, please refer to Stockwatch news dated May 26, 2010, or visit International Lithium's website.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,

Gary Schellenberg, President

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.


FOR FURTHER INFORMATION PLEASE CONTACT:

TNR Gold Corp.
Gary Schellenberg
President
(604) 687-7551 or 1-800-667-4470
(604) 687-4670(FAX)
info@tnrgoldcorp.com
www.tnrgoldcorp.com



International Lithium Corp.
info@internationallithium.com
www.internationallithium.com

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China - not playing by international rules could ignite trade war with the west.

Image via Wikipedia

China's home-grown innovation drive stirs unease

Sept 27-2010 by Thomson Reuters

By Alan Wheatley, China Economics Editor
BEIJING, Sept 27 (Reuters) - In the 1860s, Chinese labourers laid track over the treacherous terrain of California's high Sierras to help complete America's first transcontinental railroad.
Fast forward, and California wants Chinese technology and capital to construct the country's first high-speed rail system.

"We look to China to build our high-speed rail, to be part of the bidding process that we are going to go through," the state's governor, Arnold Schwarzenegger, said on a visit to Shanghai this month.
Acceleration of the industrial upgrading that puts China on par with the likes of France and Japan to compete for the Californian contract will be a centrepiece of the country's five-year plan for 2011-2016 now being finalised.

As well as introducing more automation into traditional industries, the government has identified a cluster of strategic sectors that it wants to develop, including nanotechnology and new materials.
China already has in place five of a planned array of 35 satellites that will provide a navigation alternative to the U.S. Global Positioning System by 2020.

By the same date, China expects to be converting more coal into oil, gas and chemicals than any other country, according to industry officials quoted by the official Xinhua news agency.
Embracing cutting-edge technologies will help further raise living standards in a country where 150 million people still live below the poverty line.

But there is growing criticism in the West that China owes its rapid ascent to a mercantilist strategy of coercing foreign firms to transfer technology; favouring local companies in its domestic market; and now launching a new breed of national champions overseas to undercut foreign rivals who gave them a technological leg-up to start with.

Feelings are running so high that the heads of German industrial giants Siemens and BASF publicly complained about an uneven playing field in China in the presence of Premier Wen Jiabao back in July.

General Electric <GE.N> Chief Executive Jeffrey Immelt made similar comments in private that found their way into the press.

"I don't condemn China. It's very smart policy to look out for yourself. However, China has joined the world's rules-based system, and these things are not acceptable in this system," said James McGregor, a senior counselor in Beijing for APCO Worldwide, a public affairs and communications firm.

SIGNS OF SHIFTING POWER
China is no different from many countries that set product standards tilted to their own firms or promote home-grown innovation. But Beijing is striking a combative stance at a time when the West, especially the United States, has a sinking feeling that power is leaking away to Asia in the wake of the global financial crisis. Unemployment is high, confidence is low.

"All we're asking China to do is play by the rules. Get your thumb off the scales. Let us go in and compete equally," U.S. Trade Representative Ron Kirk said last week. While Congress is preoccupied with America's big bilateral trade deficit with China, which it blames on the yuan's exchange rate, many Western investors are more exercised by the difficulty of doing business in China. Rules drafted last November that in effect barred Western firms -- even those with long-established operations in China -- from competing for government contracts badly undermined goodwill in sections of the international business community.

Beijing has since withdrawn the offending regulations, and Wen, the premier, has repeatedly reassured foreign firms that they will be treated equally. But the damage has been done. "I talk to a lot of foreign technology executives and they may come to Beijing smiling, but behind closed doors they are rethinking their China plans. This has woken them up," said McGregor, author of a critical study of the array of industrial policies underpinning China's drive for 'indigenous innovation'.

BRITTLE ATMOSPHERE
Duncan Clark, chairman of BDA China, an investment consultancy, said China was displaying "high IQ, low EQ" on the issue. The natural rise of domestic competitors was psychologically threatening to foreign companies that have prospered in China.But he said Beijing needed to acknowledge that Western complaints were genuine in many cases; protectionism was a reality in sectors from wind turbines to smart cards.
"We're just not seeing many people queuing up to enter into the market given the perceived barriers," Clark said.

The danger for the world economy is that attitudes are hardening even though China is just setting out on its high-tech odyssey. Without mutual trust, the potential for friction is vast as Chinese firms make inroads into high-end Western markets.China, for instance, exported medical equipment worth $6.6 billion in the first half of 2010, up 27 percent from a year earlier.A recent study by Deutsche Bank said China's technical competence in the equipment manufacturing sector was now at a "golden stage" that would enable it to grab export market share from Japan, South Korea and Germany.

China was likely to undergo an upgrading of its export industries in the next decade similar to that seen in Japan 30-40 years ago -- but on a scale three times larger, the bank said. "The huge domestic market and localisation policy mean that China is best placed to enjoy economies of scale, which will likely offer growing cost advantages to domestic producers against global competitors," Deutsche said. In short, the tinder is dry and nationalist winds in both the United States and China risk fanning any fires that break out.

The need to strike a new balance is urgent, McGregor said. "At the end of the day China has to find a way to build its own innovation system to create its own strong companies. But it's going to have to play by global rules, otherwise we're going to have trade wars," he said. (Editing by Mathew Veedon)

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Rodinia Lithium Inc.'s Auger Drilling Extends Near Surface High-Grade Lithium-Potash Zone 1.5 km at Salar de Diablillos

7:46AM ET on Friday Sep 24, 2010 by Marketwire

Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE: RM)(OTCQX: RDNAF), is pleased to report further sample results from its auger drill exploration program on its Salar de Diablillos lithium-brine project in Salta, Argentina ("Diablillos" or the "Salar"). The completion of an additional 38 sample holes has extended the previously defined 2.5 km by 4.0 km high-grade lithium-potash zone near surface by an additional 1.5 km along strike (see Press Release dated May 26, 2010 for additional details on the original high-grade zone definition).

William Randall, President and CEO of Rodinia, commented "It is encouraging that these additional auger drill holes have intersected grades similar to the previous auger drilling and has extended our high-grade zone an additional 1.5 km. We now have additional areas to target with our ongoing reverse circulation drilling. Coupling these results with drill hole D-RC-01 announced last week, which demonstrated a continuous aquifer to depths of at least 120 metres, provides additional support for the potential to delineate a large scale resource at Diablillos" (see Press Release dated September 17, 2010 for additional details on drill hole D-RC-01).
 
Based on the completed sampling program of 140 sample holes, the Diablillos auger drill exploration program returned lithium ("Li") values of up to 1,000 milligrams per litre ("mg/L") and potassium ("K") values of up to 11,000 mg/L. Focusing on the nucleus of the Salar, which the Company believes represents the highest probability for production (see Figure 1 below), results returned average Li of 845 mg/L, average K of 9,092 mg/L, and 762 mg/L boron ("B") with favourable magnesium ("Mg") to Li ratio of 3.75 and an attractive sulphate to lithium ratio. Previously reported results for the auger drill program were based on a total of 102 sample holes. The full set of results reinforce the Company's belief that Diablillos may contain high concentrations of lithium, potash and boron and that the project has the potential to become a lithium carbonate producer. The Company remains encouraged by the presence of near-surface brines that contain similar, and in many instances higher, lithium and potash concentrations to other established brine developers in South America.

The completed auger program successfully covered a large portion of the Salar which returned average results of 680 mg/L Li, 7,400 mg/L K, 669 mg/L B, 3.75 Mg:Li, and 10.73 SO4:Li. Certain portions of the salar and its margins could not be sampled due to more extensive overburden material. The auger drill has been modified to be able to successfully penetrate the hard calcium carbonate layers commonly encountered, therefore enabling the additional sampling reported in this press release. In general, lithium values decreased towards the salar margins to the north and south, however drilling will be required to establish whether this trend is consistent at depth. Rodinia has a reverse circulation drill program underway on the Salar, which amongst other things will test the depth of the aquifer, as well as the lithium potential under the areas sampled by the auger drill.

To view Figure 1 - Sampling Contour Map, Salar de Diablillos, please visit the following link: http://media3.marketwire.com/docs/RMimage.jpg

Throughout the auger sampling, Rodinia employed a sampling procedure designed to ensure sample integrity by minimizing contamination of brine samples through the dissolution of overlying sediments and evaporates that may be enriched in lithium. All the holes were drilled to a depth sufficient to ensure penetration of the overlying clay layer, which varies in thickness between one and over three metres. Below the clays, a medium to coarse-grained sand aquifer was encountered containing high-grade lithium brine in its porous space. A historical drill hole in the south eastern margin of the Salar indicates the presence of this aquifer to a vertical depth of at least 75 metres, with material coarsening at depth to a coarse basal conglomerate (SEGEMAR; www.segemar.gov.ar). Rodinia has also recently completed a reverse circulation discovery drill hole, drill hole D-RC-01, which indicated the presence of this aquifer to a vertical depth of at least 120 metres.

Sample integrity was maintained by pushing four inch casing down into the hole and pumping, where possible, the contents of the hole. The hole was then left to refill from the aquifer below, ensuring proper representation of brine geochemistry. This brine was then sampled and decanted before collection in sealed plastic containers that had been previously rinsed in the same brine. All samples were sent to ALS Laboratory Group, Environmental Division, in Fort Collins, CO, USA where Rodinia is sending both its Diablillos and Clayton Valley project samples.

The Project is supervised by William Randall, MSc (Geology), the President and CEO of Rodinia, and by Ray Spanjers, Rodinia's Manager of Exploration. Both Messrs. Randall and Spanjers are considered qualified persons, as defined by National Instrument 43-101, and both have reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 300 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 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) 258-3310

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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Largest supplier of lithium into China, goes public on TSX

Talison Lithium Limited

TSX: TLH

Sep 23, 2010 07:00 ET

Talison Lithium Commences Trading on TSX Under Symbol "TLH"

WORLD'S LARGEST PURE LITHIUM PRODUCTION COMPANY BEGINS TRADING

Highlights
- Merged entity brings the world's largest, high quality, low cost lithium minerals producer located in Australia together with a highly prospective, large scale lithium brine exploration portfolio in Chile
- Diversified exposure to lithium chemical production from minerals and potential brines
- Major lithium supplier to the rapidly expanding Chinese market, now the largest globally

- Ability to rapidly respond to the growing demand for lithium for electric vehicle batteries
- Proceeds of $38,074,064 under Subscription Receipt private placement released from escrow to the merged entity to fund growth
- Fully funded to expand current production and accelerate lithium chemical production

TORONTO, ONTARIO--(Marketwire - Sept. 23, 2010) - Talison Lithium Limited ("Talison") (TSX:TLH) is pleased to announce that in connection with yesterday's completion of the plan of arrangement (the "Arrangement") between Talison and Salares Lithium Inc. ("Salares") (refer to press release dated September 22, 2010), it is anticipated that Talison ordinary shares will commence trading on the Toronto Stock Exchange under the symbol "TLH" at the open of market today.

The completion of the Arrangement and the listing of the Talison ordinary shares satisfied the conditions for release from escrow of the proceeds from Salares' previously announced private placement of 31,128,515 subscription receipts (the "Subscription Receipts"). Pursuant to the terms of the Subscription Receipt Agreement governing the terms of the Subscription Receipts, proceeds of $38,074,064 have been released from escrow to Salares and each Subscription Receipt was exchanged for 0.35587 of a Talison ordinary share. All previous security holders of Salares now hold comparable securities of Talison (or the equivalent in Talison exchangeable shares) based on the exchange ratio under the Arrangement.

Talison has now combined its' world class lithium minerals production in Australia with Salares' prospective, large scale lithium brines exploration project in Chile. The combined entity is well-funded, allowing for immediate expansion of the producing Australian operations to run in parallel with an accelerated exploration program at the 'Salares 7' brine project.

Immediate production expansions at Talison's Australian operations are required to satisfy substantial growth in lithium demand from Chinese battery producers, for whom Talison is the primary supplier. This demand has been driven by government policies encouraging alternative energy vehicles in pursuit of energy security, reduced reliance on oil imports and environmental objectives. Additional large scale production expansion is also being pursued by Talison to meet the anticipated global growth in the lithium market.
Talison now has:

• An attractive diversified mix of lithium mineral and brine assets in both Australia and Chile:
  • Combination of the high quality, low cost Australian based lithium minerals production with promising lithium brines exploration properties located in Chile;
• Multiple actionable growth strategies, including:
  
  • Expansion of existing lithium mineral production capacity by over 60% (currently in progress) to support the growing Chinese battery market;
  • Potential low cost lithium carbonate production from minerals conversion to supply major battery producers and vehicle manufacturers globally; and
  • Future potential lithium carbonate production from prospective Chilean brines;
• Access to an extensive global customer network, established over a 25-year lithium operations history, with the leading position in the growing Chinese battery market; and
• Board of Directors and management team with the skills and extensive experience in the technical and commercial aspects of project development, production and marketing of lithium.

The market dynamics for lithium are positive. Lithium demand has grown consistently over the past decade and is expected to accelerate significantly in the near term from increased consumption of lithium batteries, which are a critical component of hybrid and electric vehicles.
A presentation of the new combined company can be accessed at the Talison website www.talisonlithium.com.

About Talison Lithium Limited
Talison is the leading global producer of lithium. Talison mines and processes lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. Talison has an extensive, well established global customer network and a leading position in the growing Chinese market. In addition, Talison now has an extensive lithium brine exploration project in Region III, Chile. Talison's 'Salares 7' lithium project is made up of seven salars (brine lakes, and the surrounding concessions) that are prospective for sub-surface lithium and potassium. Five of the seven salars are clustered within 155 kilometres and are 100% owned by Talison and its Chilean partner.

No securities regulatory authority has either approved or disapproved of the contents of this news release. This press release is for information purposes only.
Forward-Looking Statements
This release contains "forward-looking statements" which reflect the current expectations of the companies. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this release. Although the forward-looking statements contained in this release are based upon what the company believes to be reasonable assumptions, the company cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and the companies do not assume any obligation to update or revise them to reflect new events or circumstances.

For more information, please contact
Investors:
Talison Lithium Limited
Todd Hilditch
Director, Investor Relations
(604) 443-3831
or
Talison Lithium Limited
Peter Oliver
CEO
+61 8 9263 5555
www.talisonlithium.com
or
Media:
FD
Kim O'Halloran
Vice President, Corporate Communications
(312) 553-6733
kim.ohalloran@fd.com

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China making huge push into electric vehicle market

Image by Speaker Pelosi via FlickrFrom Economywatch:
September 2010

  The Chinese government, determined to become a world leader in green technology, says it plans to invest 15 billion dollars over the next few years to develop electric and hybrid vehicles.

It said a group of 16 big state-owned companies had already agreed to form an alliance to do research and development, and create standards for electric and hybrid vehicles.

The government said the country’s top state-owned oil producers, power companies, several military and aviation companies, and two of the nation’s biggest car companies, the China FAW Group and Dongfeng Auto, would be involved in the effort.

The announcement came shortly after General Motors and S.A.I.C., which is based in Shanghai and is one of China’s other big state-controlled automakers, said they planned to form an alliance to develop more fuel-efficient engines and transmissions for global markets.

Another powerful Chinese company, BYD, which has an investment from Warren Buffett, is developing battery-powered vehicles.  The plan aims to put more than a million electric and hybrid vehicles on the road over the next few years in what is already the world’s biggest and fastest growing auto market. 

The announcement, analysts say, is another example of how China seeks to marshal resources and tackle industries and new markets. The plan also underlines what China describes as its growing commitment to combating pollution and reducing carbon emissions.

According to some reports by state-run media, Beijing intends to invest nearly $15 billion in the venture, which if true would make it one of the world’s most ambitious attempts to develop more energy-efficient vehicles.

The bold plan was announced by one of China’s most powerful bodies: the State-owned Assets Supervision and Administration Commission, which just recently also ran huge globally-oriented ads seeking CEOs for many of China's top state-owned companies.

Sasac, as it is known, operates under China’s cabinet, or State Council. From Beijing, it oversees about 125 of China’s biggest state-owned companies. State-owned companies “have an overall advantage in developing the electric vehicle industry,” Li Rongrong, Sasac’s chairman, said in a statement. Analysts say the government plan bears watching.

“This is the kind of plan the government would like to happen, and they certainly have the resources to put behind it,” said Oded Shenkar, a professor of management at Ohio State University and the author of “The Chinese Century.”

“The government could easily underwrite or subsidize the development costs,” Professor Shenkar said, “and do it at a time when the global car industry is still reeling.”

Few details of the plan were released. But Beijing said that over the next three years, 500,000 energy-efficient vehicles would reach the market each year and that more-efficient vehicles would soon account for 5 percent of passenger car sales in China. This year, analysts expect vehicle sales in China to reach about 17 million.

Sasac’s announcement said the alliance had been formed with about $200 million. But other reports said the investment was tied to the government’s plan to revamp the auto industry and promote energy-efficient vehicles with an investment of nearly $15 billion. 

There is some opposition to the plan. The English edition of The Global Times, another state newspaper, said some groups had criticized the alliance, saying it favored big state-owned companies and had not made clear who would own the intellectual property. “Such an association should include all firms strong in the area, rather than only S.O.E.’s,” Zhong Shi, editor in chief of China Automotive Review, told The Global Times, referring to state-owned enterprises.

“Though lots of foreign firms launched technology agreements, there is no precedent of successful technology exchange in China’s auto industry.” As this comment implies, whether China can successfully develop electric and hybrid vehicles at world-class standards is still unclear.

China has lots of automakers. But the country’s engine and car technology lag far behind that in Japan and the West, and many Chinese carmakers have for years been accused of stealing designs and technology.

But big companies like G.M. and Volkswagen have been in long-term joint ventures with Chinese automakers. Experts say that some of the technology being developed here by Chinese engineers has advanced. “What you have here is the confluence of two important things,” Professor Shenkar said in this article from the New York Times. “The car industry was long ago designated as a pillar industry for China.

And the second thing is green technology or high tech; this is where the action is going to be, and China wants to be there.” 

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Trading for Talison Lithium, the worlds largest pure lithium producer, begins tomorrow on TSX

Sep 22, 2010 17:12 ET

Salares Lithium and Talison Lithium Complete Merger

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2010) - Salares Lithium Inc. (TSX VENTURE:LIT) ("Salares") and Talison Lithium Limited ("TSX-TLH") are pleased to announce the completion of the previously announced plan of arrangement (the "Arrangement") for the merger of Salares and Talison. Effective immediately, Salares and Talison have now merged.
Talison ordinary shares will commence trading on the TSX under the symbol "TLH" at the market open tomorrow, September 23, 2010. 
Salares' CEO Todd Hilditch said today: "It was very clear to our management team that from the day we engaged in discussions on a potential merger with Talison, we shared the same long-term vision of the lithium sector and its growth potential. We are excited to now work with, and become part of, the Talison team and feel very strongly that our shareholders will prosper in the long-term from the new merged company and its aggressive growth strategy."
Talison CEO Peter Oliver stated: "Talison is excited to have completed the merger and looks forward to accelerating the development of the highly prospective 'Salares 7' project. Talison is already the largest lithium producer in the world and the largest supplier of lithium concentrates into the growing Chinese market. The merged company offers shareholders exposure to the current production of lithium concentrate and the upside growth of future lithium carbonate production from both the hard-rock and brine projects to satisfy the demand for lithium products destined for the global electric vehicle market."
Shares of Salares are now delisted from the TSX Venture Exchange. Under the terms of the Arrangement, Salares' shareholders received 0.35587 of a Talison ordinary share (or the equivalent in Talison exchangeable shares if they elected to prior to September 14, 2010 4:30 PST) in exchange for each Salares common share held.
Further details regarding Talison or Salares and the details of the Arrangement can be obtained through www.sedar.com. Full details of the merger of Salares and Talison are disclosed in the July 15, 2010 press release also available on SEDAR. A presentation of the transaction highlights can be accessed at the Salares and Talison websites.

About Talison Lithium Limited
Talison is the leading global producer of lithium. Talison mines and processes the lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. Talison has an extensive, well established global customer network and a leading position in the growing Chinese market. In addition, upon completion of the Arrangement, Talison now has an extensive lithium brine exploration project in Region III, Chile. Talison's 'Salares 7' lithium project is made up of seven salars (brine lakes, and the surrounding concessions) that are prospective for sub-surface lithium and potassium. Five of the seven salars are clustered within 155 kilometres and are 100% owned by Talison and its Chilean partner.
No securities regulatory authority has either approved or disapproved of the contents of this news release. This press release is for information purposes only.
Forward-Looking Statements

This release contains "forward-looking statements" which reflect the current expectations of the companies. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this release. Although the forward-looking statements contained in this release are based upon what the companies believe to be reasonable assumptions, the companies can not assure investors that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and the companies do not assume any obligation to update or revise them to reflect new events or circumstances.

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.
For more information, please contact
Salares Lithium Inc. - Investors
Todd Hilditch
President and CEO
(604) 443-3831
www.salareslithium.com
or
Talison Lithium Limited
Peter Oliver
CEO
+61 8 9263 5555
www.talisonlithium.com
or
FD - Media
Kim O'Halloran
Vice President, Corporate Communications
(312) 553-6733
kim.ohalloran@fd.com
 

Update: Sept 23rd 2010

Talison Lithium TLH begins trading on TSX.

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Court approves Talison-Salares Lithium Merger

Image via WikipediaPress Release from Salares Lithium.
VANCOUVER, BRITISH COLUMBIA--- Salares Lithium Inc. (TSX-V:LIT - News) ("Salares" or the "Company") is pleased to announce that the Company received today final approval from the Supreme Court of British Columbia regarding the previously announced plan of arrangement (the "Arrangement") to merge with Talison Lithium Limited ("Talison").

The Arrangement is subject to certain conditions, including the final approval of the TSX Venture Exchange ("TSXV"). Completion of the Arrangement and final approval from the TSXV is expected to occur on Wednesday, September 22, 2010.

The TSX has conditionally approved the listing of the Talison ordinary shares under the symbol "TLH", with trading expected to commence on the TSX at the market open on September 23, 2010.

Further details regarding the terms of the Arrangement are set out in the management information circular of Salares (the "Circular") issued in connection with its meeting held on September 16, 2010 at which securityholders approved the Arrangement. The Circular is available at www.sedar.com. A presentation of the transaction highlights can be accessed at the Salares and Talison websites.

About Salares Lithium Inc.
Salares Lithium Inc. is a lithium explorer in Chile that controls the 'Salares 7' lithium project made up of seven salars (brine lakes that are prospective for sub-surface lithium and potassium) and the surrounding concessions in Region III, Chile. Five of the seven salars are clustered within 155 kilometres and are 100% owned by Salares and its Chilean partner.

About Talison Lithium Limited
Talison Lithium Limited is the leading global producer of lithium. Talison mines and processes the lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. Talison has an extensive, well established global customer network and a leading position in the growing Chinese market.
No securities regulatory authority has either approved or disapproved of the contents of this news release. This press release is for information purposes only.

Forward-Looking Statements
This release contains "forward-looking statements" which reflect the current expectations of the companies. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this release. Although the forward-looking statements contained in this release are based upon what the companies believes to be reasonable assumptions, the companies can not assure investors that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and the company does not assume any obligation to update or revise them to reflect new events or circumstances.

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:

Contacts:
Salares Lithium Inc. - Investors
Todd Hilditch
President and CEO
(604) 443-3831
www.salareslithium.com
Talison Lithium Limited - Investors
Peter Oliver
CEO
+61 8 9263 5555
www.talisonlithium.com
FD - Media
Kim O'Halloran
Vice President, Corporate Communications
(312) 553-6733
kim.ohalloran@fd.com