TUCSON, Ariz., July 3, 2012 (GLOBE NEWSWIRE) -- Pan American Lithium Corp. (TSX-V:PL) (OTCCB:PALTF) ("Pan American" or the "Company"), www.panamericanlithium.com, today announces that the closing date of the share option agreement dated February 14, 2011 with Sociedad Gareste Limitada, a privately held Chilean Corporation, for the Llanta salar located in Atacama Region III, Chile, has lapsed as the parties have not executed an agreement to extend the closing date.
About Pan American:
Pan American has rights in ten lithium-bearing salars in Chile's Atacama Region III covering cumulatively more than 19,000 hectares, including the Laguna Verde surface brine lake.
On Behalf of the Board
PAN AMERICAN LITHIUM CORP.
| /s/ Andrew Brodkey |
| Andrew A. Brodkey |
| President and CEO |
| Tel: (520) 623-3090 |
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