Potash will be a valuable by-product of Rodinia Lithium's operation at Diabillos.

Rodinia Lithium Successfully Harvests Sylvinite On Site At Diablillos

• SUCCESSFUL HARVESTING OF SYLVINITE DURING REGULAR OPERATION OF PILOT ENGINEERING PROGRAM
• PILOT PROCESSING CONFIRMS EFFECTIVE REMOVAL OF SYLVINITE IN AN ISOLATED POND USING CONVENTIONAL EVAPORATION BASED PROCESSING
• EVAPORATION CYCLE OF INITIAL PAN PILOT TEST SERIES COMPLETE CONFIRMING INITIAL PORTION OF THE METALLURGICAL PROCESS DESCRIBED IN PRELIMINARY ECONOMIC ASSESSMENT

Toronto, Canada, May 14, 2012: Rodinia Lithium Inc. (“Rodinia” or the “Company”) (TSX-V: RM; OTCQX: RDNAF) is pleased to report that sylvinite has been successfully produced and harvested at the Company’s 100% owned Diablillos lithium-potash brine project (“Project” or “Salar” or “Diablillos”) in Salta, Argentina.   Sylvinite, a potash and sodium chloride salt, has been harvested during operation of the pilot engineering program being conducted on site.  The results of the brine geochemical development during this pilot cycle was within the Company’s expectations and offers significant confirmation of the initial portion of the metallurgical process described in the Company’s Preliminary Economic Assessment conducted on Diablillos dated December 22, 2011 and filed on the SEDAR profile of the Company at www.sedar.com (the “PEA”).

William Randall, Rodinia’s President & CEO, commented, “Having harvested sylvinite during the regular operation of our pilot engineering program is a major milestone for the Company.  We remain confident that these results confirm our ability to produce potash from Diablillos using conventional methods employed by other major brine producers in South and North America.  This asset continues to meet our targeted milestones as we advance towards feasibility and production.”

This initial result from the pilot engineering program is from the first series of solar evaporation tests at ambient conditions of the Salar.  The evaporation was started May 2011 and concluded in April 2012.  The first series is one of five evaporation tests in progress.  Each test in pools and pans were started at different times of the year to see the effect of weather on the evaporation cycle chemistry.  The resultant brine from these evaporation tests will subsequently be processed for recovery of boron and lithium products.

The process engineering department continues to monitor the evolution of both the pools and pans installed on site at approximately 4050 metres above sea level.  As announced previously, a first stage of magnesium and sulphate removal has been completed, followed by successful removal of sylvinite in the ensuing step, confirming that potash is going to be a valuable by-product of an eventual lithium carbonate production facility.

About Rodinia Lithium Inc.:

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

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

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

The Projects are supervised by Ray Spanjers, Rodinia’s Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101 and has read and approved the scientific and technical information contained in this release.

Readers are cautioned that the PEA is preliminary in nature and is partly based on inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA based on these mineral resources will be realized. The results depend on inputs that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those presented here.

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

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

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

Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the anticipated timing with respect to the development of the property; the results of the pilot engineering 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.

Tnr Gold's interest in giant copper project draws third part interest!

TNR Gold Receives Third Party Proposal and Provides Los Azules Project Update

TNR Gold Corp. (the "Company") (TSX VENTURE: TNR) has received an unsolicited proposal from a third party to merge with TNR and to acquire TNR's wholly owned subsidiary Compania Minera Solitario Argentina S.A. ("Solitario"). The Company has called a meeting of the TNR Board of Directors to determine whether the proposal is sufficiently attractive to commence exclusive negotiations with the third party, and also to consider its other strategic alternatives.

TNR and Solitario are currently in litigation with Minera Andes Inc. (and indirect subsidiary of McEwen Mining Inc.) and MIM Argentina Exploraciones S.A. The litigation (the "Los Azules Litigation") involves a challenge to title to a substantial portion of the mineral properties constituting the Los Azules Project in San Juan Province of Argentina. Specifically, TNR is challenging the title of Minera Andes Inc. and certain of its subsidiaries to the mineral properties constituting the northern half of the Los Azules project (the "Solitario Properties"). TNR is seeking return to it of a 100% interest in the Solitario Properties or damages; and, effectively, in the alternative, recognition of TNR's right to back-in to a 25% interest in the properties; together with recognition of TNR's interest in the related Escorpio IV property. A trial in the Courts of British Columbia is set to commence in November, 2012 and last for approximately six weeks.

McEwen Mining is continuing a significant expansion drilling program at Los Azules, but has announced that it is focusing, and will continue to focus, its exploration efforts on the portion of the Los Azules mineral claims that are not subject to the ongoing litigation.
 

Kirill Klip, Chairman of TNR commented that: "The Los Azules project is considered to represent one of  the largest undeveloped copper projects in the world but the current legal uncertainty over its legal ownership is detracting from the value of the project for shareholders of both TNR and McEwen Mining. The third party proposal which we have received to purchase TNR, together with the fact that McEwen Mining has decided to limit its drilling activity to non-disputed mineral claims only are further validation of the value of TNR, its title claims and its prospects for success in the upcoming Los Azules litigation."
The Los Azules Project is located in western San Juan Province within a belt of porphyry copper deposits that straddles the Chilean/Argentine border. This belt contains some of the world's largest copper deposits, including Codelco's El Teniente and Andina mines, Anglo American's Los Bronces mine, Antofagasta PLC's Los Pelambres mine and Xstrata's El Pachon project, among others.

Shareholders and other interested parties are invited to review the Court filings relating to the Los Azules Litigation which are available from the BC Supreme Court registry database (BC Online) and are hosted on TNR's webpage at www.tnrgoldcorp.com/s/LosAzules.asp.

ABOUT TNR GOLD CORP.
Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio. 

TNR's recently listed subsidiary, International Lithium Corp. (TSX VENTURE: ILC), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects. TNR remains a large shareholder in ILC at 25.5% of outstanding shares. 

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirm TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value. 

On behalf of the board,
Gary Schellenberg, President - TNR Gold Corp. 

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. In particular, there are no assurances that the third party proposal recently received by the Company will develop into a formal offer for the Company, or that any such formal offer would be attractive to, or result in the sae of, the Company. There are no assurances that the Company will decide to commence a formal sale process or that, if commenced, such sale process would result in an attractive offer and sale of the Company. There are no assurances that the Company will achieve a favourable outcome in the Los Azules litigation.
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
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:
TNR Gold Corp.
Gary Schellenberg
President
(604) 687-7551 or 1-800-667-4470
(604) 687-4670 (FAX)
info@tnrgoldcorp.com
www.tnrgoldcorp.com

SOURCE: TNR Gold Corp.

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

Related articles

• McEwen Mining Expansion Drilling Intersects 0.53% Copper Over 351 Meters at the Los Azules Project (sys-con.com)
• TNR Gold Receives Third Party Proposal and Provides Los Azules Project Update (sys-con.com)

Talison Lithium profits soar in Q3

Talison Lithium Limited
TSX : TLH

May 10, 2012 09:28 ET

Talison Lithium Reports Third Quarter Fiscal 2012 Results

PERTH, WESTERN AUSTRALIA--(Marketwire - May 10, 2012) - Talison Lithium Limited ("Talison" or the "Company") (TSX:TLH), (Nasdaq - TLTHF) today announced results for the third quarter of the 2012 fiscal year¹.

THIRD QUARTER HIGHLIGHTS

• Record revenue and EBITDA² of A$37m and A$12m, an increase of 27% and 90% y/y respectively
• Net profit of A$8.2m resulting in basic EPS of 7.6 cents per share, a 112% and 100% y/y increase respectively
• Construction of the Stage 2 Expansion of the Greenbushes Lithium Operations (Expansion) remains on schedule and budget with commissioning expected to be completed by the end of June 2012
• Cash and cash equivalents increased to A$85.1m at March 31, 2012 notwithstanding continued capital expenditure during the quarter for the Expansion
• Outlook remains positive, with early indications that global supply may tighten in FY2013

THIRD QUARTER HIGHLIGHTS	Three Months ended								% Change			Nine Months ended								% Change
	March 31 (unaudited)											March 31 (unaudited)
(in thousands A$, unless noted otherwise)	FY12				FY11							FY12				FY11
Sales Volume (tonnes lithium concentrate)		111,896				97,001			15	%			267,432				247,085			8	%
Sales Price (Average US$/tonne)		US$340				US$303			12	%			US$328				US$310			6	%
Revenue	$	36,965			$	29,207			27	%		$	85,530			$	83,089			3	%
Cash Operating COGS ($/tonne lithium concentrate)	$	195			$	195			0	%		$	196			$	208			(6	%)
EBITDA	$	11,964			$	6,308			90	%		$	23,477			$	18,311			28	%
EBITDA Margin		32	%			22	%		+1,000bps				27	%			22	%		+500bps
Net Profit	$	8,220			$	3,874			112	%		$	15,469			$	15,0453			3	%
Basic EPS (cents/share)		7.6				3.8			100	%			14.3				18.13			(21	%)

"Talison had an outstanding third quarter, with records achieved in sales volume, revenue and EBITDA." Peter Oliver, Chief Executive Officer and Managing Director commented. "This exceptional performance, in conjunction with Talison's strong cash reserves, positions the Company well for the future development of the lithium carbonate plant."

Oliver continued, "Adding to our record quarter, I am pleased to report that the Expansion continues on-time and on budget as it nears completion. The increased capacity provided by the expansion will enable Talison to respond rapidly to changing conditions in the lithium market."

¹ Information in this press release is in relation to the unaudited condensed consolidated interim financial statements of Talison as at and for the interim period ended March 31, 2012 (collectively, the "Financial Statements") and should be read in conjunction with Financial Statements. The financial information contained in this press release is derived from the Financial Statements, which were prepared in accordance with International Financial Reporting Standards ("IFRS"). All amounts in this press release are expressed in Australian dollars ("A$") unless otherwise identified. References to "C$" are to Canadian dollars and references to "US$" are to United States dollars.

² The term "EBITDA" is a non-IFRS financial measure. For further information and a reconciliation of EBITDA to its IFRS-compliant income statement, refer to "Non-IFRS Performance Measures" in Management's Discussion and Analysis of the financial condition and results of operations of Talison Lithium Limited as at and for the interim period ended March 31, 2012 (which can be found on Talison's SEDAR profile at www.sedar.com).

³ The net profit and basic EPS for the nine months ended March 31, 2011 include certain items which relate to the Re-Organization of Talison Minerals Pty Ltd before it was acquired by Talison and as such, do not provide a meaningful comparative to the results of Talison for the nine months ended March 31, 2012.

THIRD QUARTER-FINANCIAL RESULTS

Revenue of A$37.0 million was generated in the quarter, a 27% increase from the third quarter of fiscal 2011.

EBITDA of A$12.0 million represented a A$5.7 million, or 90% increase over the corresponding period in the prior year. EBITDA margin increased to 32%. Increases in revenue and EBITDA were primarily driven by higher sales volume and an increase in average sales price.

Net profit and earnings per share for the third quarter of A$8.2 million and A$0.076 were respectively a 112% and 100% increase on the corresponding period in fiscal 2011.

Cash inflow from operating activities for third quarter of A$16.3 million, was A$8.1 million higher than the corresponding period in the prior year due to increased sales revenue.

Cash and cash equivalents at March 31, 2012 increased during the quarter to A$85.1 million notwithstanding the ongoing capital expenditure of the Expansion.

THIRD QUARTER-SALES & PRODUCTION RESULTS

Talison sold a record 111,896 tonnes of lithium concentrate (approximately 16,600 tonnes lithium carbonate equivalent ("LCE")) in the third quarter, representing a 15 per cent increase over the corresponding period of fiscal 2011. Sales included approximately 38,000 tonnes of Talison's lithium concentrate that were delayed from the second quarter.

Sales for the nine months ended March 31, 2012 of 267,432 tonnes of lithium concentrate (approximately 40,000 tonnes LCE) materially matches production for the nine months ended March 31, 2012 of 273,286 tonnes of lithium concentrate (approximately 40,500 tonnes LCE).

Production volume for the third quarter was a record 93,563 tonnes lithium concentrate (approximately 14,000 tonnes LCE), a 6% increase compared to the third quarter fiscal 2011.

The average sales price of lithium concentrates sold during the third quarter was US$340 per tonne, a 12% increase over the average sales price of US$303 per tonne during the three months ended March 31, 2011. The increase in average sales price demonstrated the initial impact from the price increase that applied from January 2012.

FISCAL 2012 OUTLOOK

Talison expects to sell approximately 350,000 to 360,000 tonnes of lithium concentrate for the full year ending June 30, 2012.

There are early indications of tightening in the global supply of lithium, which may result in price increases, for the year ending June 30, 2013. Following the completion of the Stage 2 Expansion of the Greenbushes Lithium Operation, Talison will be well positioned to adjust sales volumes in response to changing market conditions that confirm a tightening market.

EXPANSION UPDATE

The Stage 2 Expansion at the Greenbushes Lithium Operations continues to proceed on schedule and on budget. Commissioning of the Expansion has now commenced and is expected to be completed by the end of June 2012.

To view "Stage 2 Expansion at the Greenbushes Lithium Operations", please visit the following link: http://media3.marketwire.com/docs/Stage2.jpg.

THIRD QUARTER FINANCIAL RESULTS CONFERENCE CALL

Talison will host a conference call to discuss the financial results on Monday, May 14, 2012 at 9.00 a.m. (EST). The call is being webcast by Thomson Reuters and can be accessed at www.earnings.com or at Talison's website, www.talisonlithium.com.

The unaudited interim consolidated financial statements and Management's Discussion and Analysis of the financial condition and results of operations of Talison Lithium Limited as at and for the interim period ended March 31, 2012 are accessible at Talison's website, www.talisonlithium.com.

Teleconference call details are as follows:
North America:	+1 (800) 706 7748
International:	+1 (617) 614 3473
Participant Code:	33870090
Chairperson:	Peter Oliver, Chief Executive Officer and Managing Director
Replay
Available from:	May 14, 2012, 11.00 a.m. (EST)
Available to:	May 21, 2012
Dial In:	+1 (888) 286-8010
International:	+1 (617) 801-6888
Passcode:	19830888

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 is doubling its production capacity at the Greenbushes Operations and also developing several growth projects including a lithium carbonate plant in Western Australia.

FINANCIAL STATEMENTS
	Three Months		Three Months		Nine Months		Nine Months
	Ended		Ended		Ended		Ended
INCOME STATEMENT	March 31, 2012		March 31, 2011		March 31, 2012		March 31, 2011
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)(1)
	A$'000		A$'000		A$'000		A$'000
Sales revenue	36,965		29,207		85,530		83,089
Operating costs	(21,766	)	(18,962	)	(52,457	)	(53,639	)
Other income / (expenses)	(3,235	)	(3,937	)	(9,596	)	(11,139	)
EBITDA(3)	11,964		6,308		23,477		18,311(2	)
Depreciation and amortization	(625	)	(925	)	(2,038	)	(2,792	)
Net financing income / (costs)	574		298		2,020		(4,747	)
Net realized US$ hedging gain	301		869		3,324		1,506
Net realized foreign exchange gain / (loss)	(805	)	(259	)	207		8,936
Net fair value gain/(loss) on financial assets and liabilities	397		(113	)	(4,957	)	2,861
Income tax (expense) / benefit	(3,586	)	(2,304	)	(6,564	)	(9,030	)
Net profit/(loss) for the period	8,220		3,874		15,469		15,045
Basic earnings per share (cents/share)(4)	7.6		3.8		14.3		18.1
Diluted earnings per share (cents/share)(4)	7.6		3.7		14.3		17.5
Basic weighted average number of shares	107,899,247		101,668,000		107,799,832		83,076,000

Notes:

(1)	The financial results for the nine months ended March 31, 2011 are comprised of the results of Talison for the period from August 12, 2010 to March 31, 2011 (i.e., post-Reorganization) and the carve-out results of the Greenbushes Lithium Operations for the period from July 1, 2010 to August 11, 2010 (i.e., pre-Reorganization). Readers are cautioned that the results for the period from July 1, 2010 to August 11, 2010 may not be reflective of the ongoing affairs of Talison.
(2)	EBITDA for the nine months ended March 31, 2011 included A$1.6 million in non-recurring Reorganization costs.
(3)	EBITDA is a non IFRS financial measure. For a reconciliation of EBITDA to its IFRS compliant income statement, see "Non-IFRS Performance Measures".
(4)	Basic and diluted earnings per share have been calculated based on the weighted average number of shares on issue. For the three and nine months ended March 31, 2012, the weighted average number of shares includes both the outstanding ordinary shares of Talison adjusted to remove ordinary shares held by the Talison Long Term Incentive Plan Trust which is consolidated under IFRS, and the exchangeable shares of Talison Lithium Exchangeco Limited, an indirect wholly-owned subsidiary of Talison that are exchangeable (on a one-for-one basis) for ordinary shares of Talison. For the three and nine months ended March 31, 2011, the weighted average number of shares includes the outstanding ordinary shares of Talison, the exchangeable shares of Talison Lithium Exchangeco Limited that are exchangeable (on a one-for-one basis) for ordinary shares of Talison, and the ordinary shares of Talison Minerals adjusted for the Talison Minerals share consolidation which occurred as part of the Reorganization. See "Outstanding Share Data".

		As at		As at
STATEMENT OF FINANCIAL POSITION		March 31, 2012		June 30, 2011
		(Unaudited)		(Audited)
		A$'000		A$'000
Assets
Cash and cash equivalents		85,057		102,605
Trade and other receivables		12,879		21,543
Inventories		17,808		11,182
Derivative financial instruments		3,891		10,205
Property, plant and equipment		142,314		95,215
Exploration and evaluation assets		62,982		61,714
Total assets		324,931		302,464
Liabilities
Trade and other payables		12,954		12,380
Interest-bearing liabilities		27,647		29,243
Tax payable		6,781		-
Provisions		15,182		14,668
Deferred tax liabilities		9,136		10,622
Total liabilities		71,700		66,913
Shareholders' equity		253,231		235,551
		As at		As at
		March 31, 2012		June 30, 2011
		(Unaudited	)	(Audited	)
		A$'000		A$'000
Outstanding number of shares
Ordinary shares of Talison		112,003,670		110,527,347
Exchangeable shares of Talison Lithium
	Exchangeco Limited(1)	337,666		1,494,239
Shares held in trust(2)		(4,299,367	)	(4,299,367	)
Total outstanding number of shares		108,041,969		107,722,219

	Notes:
(1)	The exchangeable shares of Talison Lithium Exchangeco Limited are exchangeable (on a one-for-one basis) for ordinary shares of Talison. See "Outstanding Share Data".
(2)	On June 7, 2011, Talison Lithium established the Incentive Plan Trust. Talison Lithium issued 3,862,767 ordinary shares to the Incentive Plan Trust and the Incentive Plan Trust purchased 436,600 ordinary shares of Talison Lithium on-market.

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 Financial Statements 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 Limited
Gary Dvorchak
CFA
+1 (310) 954-1123
gary.dvorchak@icrinc.com