Pan American Lithium reports Extension of Share Option Agreement

Pan American Lithium Corp. (TSX VENTURE:PL) reported that the company has entered into a letter agreement dated March 18, 2010 and accepted March 29, 2010, with Escondidas Internacional S.A. de C.V., a privately held Mexican corporation, and the shareholders of Escondidas, whereby the parties have agreed to extend the closing date set out in the Share Option Agreement dated December 18, 2009, from March 31, 2010 to June 30, 2010.

The press release is quoted as saying:

The Company also announces that its Board of Directors (the “Board”) has approved a new incentive option plan which allows the Company to reserve for issuance up to 10% of the issued and outstanding common shares of the Company, at the time of such respective grant (the “10% Rolling Plan”).

Click here to access the entire press release