News Releases

August 10, 2009
First Lithium Announces Brokered Private Placement

Vancouver, British Columbia CANADA, August 10, 2009 /FSC/ - First Lithium Resources Inc. (TSX - VX: MCI), (the "Company") is pleased to announce that it has entered into an agreement with Byron Capital Markets, a division of Byron Securities Ltd. (the "Agent") to finance a best efforts private placement, of up to 5,000,000 units of the Company (the "Units") at a price of $0.10 per Unit for gross proceeds of up to $500,000. Each Unit shall consist of one flow-through common share and one common share purchase warrant entitling the holder to acquire one non-flow-through common share of the Company for a period of two years following the closing date at an exercise price of $0.15 per share in the first year and $0.25 per share in the second year. In consideration for its efforts, the Agent will receive a cash commission representing 8% of the gross proceeds and agent's warrants equal to 10% of the Units sold. Each agent's warrant shall entitle the Agent to purchase one non-flow-through common share of the Company at a price of $0.10 per share for a period of 12 months following the closing date.

The proceeds of the private placement will be used by the Company to finance exploration expenditures on its Canadian properties.

The private placement is subject to regulatory approval.


Craig Naughty
President & Director

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

"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."

First Lithium Resources Inc. 3102-788 Richards St.
Vancouver, BC. V6B 0C7
Tel: (604) 669-0401 Fax: (604) 669-0414
Toll Free:1(877) 669-0401
Website: Email:

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