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Lithium Acquires Yukon Property Near Underworld's White Gold Project


12:05 AM ET, June 17, 2009

Jun 17, 2009 (BAYSTREET NEWSWIRE via COMTEX) -- Vancouver, British Columbia -- First Lithium Resources Inc. (the "Company" or "MCI") announces it has acquired lode Quartz mineral claims located in the Yukon east of the White Gold Property held by Underworld Resources Inc. (UW - TSX:V). The MCI claims are 15km east of Underworlds recently announced (May 26, 2009) discovery of 103 meters of 3.4 g/t Au, and cover just over 1000 hectares in area. Underworld is exploring sediment and vein-hosted gold targets at the 169 sq km (845 claim) White Gold property.

MCI's claims appear to host similar metasedimentary stratigraphy as the Underworld White Gold project area as outlined in mapping by Gordey and Ryan from GSC mapping.

MCI will pay the vendor, Blair Naughty, $75,000 cash, issue 800,000 shares of MCI and grant a 3% NSR with an option to buy back 1% for $1,000,000. The Company also agrees to spend $25,000 by June 1, 2010 and an additional $225,000 by September 1, 2010 as a work commitment. This transaction is subject to TSX Venture approval.

This news release has been prepared on behalf of the First Lithium Resources Inc. Board of Directors, which accepts full responsibility for its contents. The technical contents of this release have been reviewed and approved by J. Wayne Murton, P.Eng, a qualified person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD

Craig Naughty

President & Director

For further information contact Craig Naughty at (604) 669-0401, or visit the website at

www.firstlithiumresources.com

"Neither 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."

Copyright 2009 BAYSTREET NEWSWIRE




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Autor (Datum des Eintrages): hbg55  (17.06.09 21:17:53)
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