As Li3 has reported, the independent evaluation conducted by signumBOX ( June 2011) concluded that the Maricunga lithium project in its current state was among the top eleven lithium projects in the world and had the potential to become the leading lithium based salar in brine-bearing deposits. Among other items, this report concluded that securing the initial developmental financing and a multinational strategic off-take partner as well as obtaining the Chilean governmental approvals were the criteria missing that could elevate the project even further. Additional information regarding the POSCO transaction can be found in Li3's Form 8-K filed with the SEC and posted on the Li3 website.
POSCO engages in the manufacture and sale of various steel products in South Korea and internationally. It offers steel for general structures and welded structures used in steel structures, bridges, ships and automobiles; atmospheric corrosion resistant steel for use in the production of containers, special vehicles and buildings, hot rolled steel used in automobile frames and wheels; and hot rolled steel for special applications. The company was founded in 1968 and is based in Seoul, South Korea. Additional information regarding the company can be found at www.posco.com.
About Li3 Energy, Inc.Li3 Energy, Inc. is an exploration and developmental stage public company in the lithium mining and energy sector. Li3 aims to acquire, develop and commercialize a significant portfolio of lithium brine deposits in the Americas. With its controlling interest in its Maricunga project, Li3's goals are to; a) support the global implementation of clean and green energy initiatives; b) meet growing lithium market demand and; c) become a mid-tier, low cost supplier of lithium, potassium nitrate, iodine and other strategic minerals, serving global clients in the energy, fertilizer and specialty chemical industries. Additional information regarding the company can be found in our recent filings with the SEC as well as the information maintained on our website www.li3energy.com. Forward-Looking Statements All statements other than statements of historical facts included in this news release including, without limitation, statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "estimates," "projects," "potential," "target," "goal," "plans," "objective," "should" or similar expressions or variations on such expressions are forward-looking statements. The Company can give no assurances that the assumptions upon which the forward-looking statements are based will prove to be correct. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in forward-looking statements due to many factors, including, without limitation: the results of initial exploration, and the determination by the Company and POSCO of whether to pursue any contemplated transactions; the Company's ability to raise additional capital to complete exploration, development and commercialization of the Maricunga Project and other opportunities; future findings and economic assessment reports; the Company's ability to obtain necessary Chilean governmental consents; the Company's ability to identify appropriate corporate acquisition and/or joint venture opportunities in the lithium mining sector and to establish appropriate technical and managerial infrastructure; political stability; and lithium prices. For further information about certain risks faced by the Company, see the "Risk Factors" in the Registration Statement on Form S-1, filed with the SEC on July 1st, 2011 and in subsequent filings with the SEC. The Company undertakes no obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date of this release. Contact: Li3 Energy, Inc.Luis Saenz, CEO Marchant Pereira 150 Oficina 803 Providencia Santiago – Chile 011-511-212-1880 firstname.lastname@example.org The InVentures Group Inc. Marc S. Lubow,Managing Partner(904) 645 – 9549 email@example.com SOURCE Li3 Energy Inc.