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Salares Lithium Announces Significant Increase to its Brine Bearing Reservoir Rock / Aquifer

Monday, July 5th, 2010

Salares Lithium Inc. (TSX VENTURE:LIT) is pleased to report the results of additional transient electromagnetic surveys (“TEM”) completed at its ‘Salares 7’ project in Region III, Chile. Additional surveys are now completed on and adjacent to Salar de Aguilar and Salar Grande. The Company has now completed TEM surveys on the northern portion of Salar de la Isla, Salar de las Parinas, Salar de Aguilar and Salar Grande.
The combined TEM results on the Project to date have identified a substantial increase in the volume of the brine bearing aquifer / reservoir rock. The cumulative survey results show a 31% increase, from 3.64 to 4.77 billion cubic metres, of the reservoir rock when a cut-off of 1 ohm/metre is applied. When the resistivity cut-off level is increased to 2 ohm/metres the reservoir volumetric increases 100% taking the calculated reservoir rock volume from 9.4 to 18.8 billion cubic metres.
TEM surveys are yet to be completed on Salar de Amarga and the southern portion of Salar de la Isla.
The TEM surveys have been carried out by Geodatos SAIC (“Geodatos”) of Santiago, Chile. Previous work by Geodatos using TEM surveys has resulted in the confirmation of the presence of high conductivity, salt saturated brines. The TEM surveys are designed to define the size and extent of the reservoir rock and in-situ brine pool within the salares. The majority of the world’s lithium production comes from salars, or salt lakes, where prospective lithium mineralization is generally hosted in brine horizons.
TEM Results from Aguilar and Grande
Using the results obtained from the survey (approximately 70 line km) on Salar de Aguilar and Salar Grande, Geodatos has constructed a three dimensional model of the distribution of the interpreted brine bearing horizons.
Using a resistivity cut-off of 1 ohm/metre (interpreted by Geodatos as probable brine), Geodatos has calculated the brine bearing horizon or reservoir rock to have an aquifer volume of 1.14 billion cubic metres. Using a resistivity cut-off of 2 ohm/metres (interpreted by Geodatos as possible brines) the calculated aquifer volume of this horizon is 9.4 billion cubic metres.
Cumulative TEM Results to Date for the Salare 7 Project
Using a resistivity cut-off of 1 ohm/metre (interpreted by Geodatos as probable brine), Geodatos has calculated the brine bearing horizon or reservoir rock within the surveyed portion of the Project to date to have an aquifer volume that has increased from 3.64 to 4.77 billion cubic metres. Using a resistivity cut-off of 2 ohm/metres (interpreted by Geodatos as possible brines) the calculated aquifer volume of the horizon substantially increases from 9.4 to 18.8 billion cubic metres. The cumulative results represent a 31% increase of probable brine and a 100% increase of possible brine when compared to the previous combined TEM results of northern la Isla and las Parinas.
“We are extremely pleased with the results of these additional surveys that have identified a substantial increase to our aquifer’s reservoir rock or possible production zone. Based on the results and experience to date, we would expect that additional surveys to be completed could increase the known reservoir size”, stated Todd Hilditch, CEO.
In order to determine the actual brine content and eventual resource of this host/reservoir rock, information relating to the porosity, permeability and grade will be required from drilling and sampling.

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