Li3 Energy: Strategic Acquisition For Maricunga Lithium Project

Li3 Energy, Inc., (OTCBB:LIEG) has acquired 100% of SLM Cocina 19-27 de la Sierra Hoyada de Marcunga, a Chilean based company. This strategic lithium asset is located within the northern section of Salar de Maricunga in Region III
of Atacama in northern Chile. With the acquisition of SLM’s properties, there is no longer a need to apply for a special permit to exploit the lithium from those concessions.

According to the press release:

Due to the Chilean Governments failed CEOL process last year, this acquisition, upon the completion of a development plan that would take this asset all the way through to construction
of a commercial production facility, provides Li3 the means to exploit lithium in Chile. Further strategic initiatives to consolidate similar properties in the Maricunga Salar are ongoing.

Luis Saenez, CEO of Li3 commented:

We are very pleased to have acquired the SLM Cocina properties. This acquisition allows Li3 to continue our advancement of the Maricunga project
towards Feasibility Study and production, whilst our company continues to pursue resolution of the failed CEOL process that would provide our other properties the same opportunity.
Moreover, with our strategic partner POSCO recently announcing that they have obtained lithium carbonate in a record eight hours, with over 80% recovery with its new Lithium Direct
Extraction Technology at its pilot plant in Chile, in our opinion, together these combined initiatives could further position us to shift the paradigm in the lithium industry going forward.
We are very excited that this acquisition allows us to be back on track with our development program.

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