TORONTO, ONTARIO--(Marketwire - Sept. 12, 2012) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX:RDNAF) is pleased to announce the appointment of Mr. Rodrigo Javier de la Serna Correas to the Company's Board of Directors. Mr. de la Serna will be instrumental in providing legal, financial, and strategic guidance to the Company in Salta, as Rodinia continues its strategy of becoming a high-grade, low-cost producer of lithium carbonate and potash. The Company welcomes Mr. de la Serna to the Board and looks forward to working with him as the Company's strategic focus is realized.
Mr. de la Serna is a commercial lawyer residing in Salta, Argentina where he has practiced law for over a decade. As legal advisor to the Government of Salta Province, Mr. de la Serna participated in the creation of a state run company known as Recursos Energeticos y Mineros S.A. ("REMSA"). REMSA was created in May, 2008 with the purpose of exploring and developing mineral properties, with a focus on renewable energy sources. REMSA currently controls the natural gas supply of the Puna region and plays an active role in mining within the Province of Salta. Mr. de la Serna has since become involved with various mining enterprises and has successfully helped finance, commercialize and/or develop a number of projects.
William Randall, Rodinia's President & CEO, commented, "We are extremely pleased to welcome Mr. de la Serna to the board, adding a vital presence in Salta through his distinguished status within the community. Mr. de la Serna will bring a wealth of experience to the board as we develop the Salar de Diablillos through to commercial production."
Mr. de la Serna replaces Mr. David Stein who tendered his resignation from the Board of Directors of the Company effective September 4, 2012. Mr. Stein has resigned in order to focus on other work commitments, however, he has agreed to remain involved with the Company on an advisory basis.
William Randall added, "David has been a key member of the Rodinia team over the past four years, and played an instrumental role in helping the Company transition into the lithium-brine exploration and development business. On behalf of the board and management team, I would like to thank him for his contributions to the success of the Company and wish him well in his other endeavours."
In connection with his appointment to the board of directors, the Company has granted Mr. de la Serna 200,000 stock options of the Company. The options shall be exercisable at $0.17 and shall expire on September 12, 2017. The options remain subject to the receipt of regulatory approval, including the approval of the TSX Venture Exchange, and shall remain subject to a statutory four month hold period.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2012, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through feasibility study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101 and has reviewed and approved the scientific and technical contents of this press release.
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the appointment; the potential of the Diablillos property; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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