News Releases

August 28, 2009
First Lithium Resources Closes Brokered Financing

Vancouver, British Columbia CANADA, August 28, 2009 /FSC/ - First Lithium Resources Inc. (TSX - VX: MCI), is pleased to announce it has received conditional approval for and closed its brokered private placement (the "Offering") previously announced on August 10, 2009. The Company issued 5,000,000 units at a price of $0.10 per unit for gross proceeds of $500,000. Each unit consists of one flow-through common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one non-flow-through common share of the Company for a period of two years at an exercise price of $0.15 per share in the first year and $0.25 per share in the second year.

Byron Capital Markets, a division of Byron Securities Limited (the "Agent"), acted as agent for the Offering and received a cash commission of $40,000 and 500,000 agent's warrants. Each agent's warrant is exercisable into one non-flow-through common share of the Company at a price of $0.10 per share for a period of 12 months.

The proceeds of the private placement will be used by the Company to finance exploration expenditures on its Canadian properties. All securities issued pursuant to the Offering are subject to a hold period expiring on December 29, 2009.


Craig Naughty
President & CEO

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

For Agent information, please contact Syndication (647) 426-1660, or visit the Agent'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.

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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