FIRST LITHIUM ACQUIRES YUKON PROPERTY NEAR UNDERWORLD’S WHITE GOLD PROJECT


First Lithium Resources Inc. has acquired lode quartz mineral claims located in the Yukon, east of the White gold property held by Underworld Resources Inc. The MCI claims are 15 kilometres east of Underworld’s recently announced┬ádiscovery of 103 metres of 3.4 grams per tonne gold and cover just over 1,000 hectares in area. Underworld is exploring sediment and vein-hosted gold targets at the 169-square-kilometre (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-per-cent net smelter return royalty, with an option to buy back 1 per cent for $1-million. The company also agrees to spend $25,000 by June 1, 2010, and an additional $225,000 by Sept. 1, 2010, as a work commitment. This transaction is subject to TSX Venture Exchange approval.

This news release has been prepared on behalf of the First Lithium Resources’ 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, PEng, a qualified person as defined by National Instrument 43-101.

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