TUCSON, Ariz., March 30, 2011 (GLOBE NEWSWIRE) — Pan American Lithium Corp. (TSX-V:PL) (OTCQB:PALTF) (“Pan American” or the “Company”), www.panamericanlithium.com, today announces its President, Andrew Brodkey, recently conducted an executive interview with cdtv.net where he discussed how Pan American is operating its business to take advantage of the opportunities it sees in the world-wide lithium marketplace.
Mr. Brodkey sees the opportunity in lithium driven largely by growing demand in lithium-ion batteries and more extensive use in fully electronic vehicles with current annual global lithium demand potentially growing from 100,000 metric tons of lithium carbonate equivalent to potentially in excess of 250,000 to 300,000 metric tons per year over the remainder of the current decade.
A full audio webcast of the cdtv.net interview can be listened to by clicking on the link on the Company’s web site located at http://www.panamericanlithium.com/ or users may link directly to the interview via the following hyperlink:
http://www.cdtv.net/users/content/investing-lithium-ceo-pan-american-lithium
Mr. Brodkey noted that lithium “demand is growing exponentially,” and Pan American is looking to exploit this tremendous opportunity with a number of brine projects in Chile, a geography with low political risk and a favorable fiscal regime. Pan American Lithium most importantly benefits from holding assets that are particularly attractive given their competitive anticipated cost of extraction.
About Pan American:
Pan American has rights in nine lithium-bearing salars in Chile’s Atacama Region III covering cumulatively more than 13,000 hectares, including the Laguna Verde surface brine lake, and the rights under purchase and earn-in agreements to, upon closing, obtain additional interests totalling 6,600 hectares at three Chilean projects. The Company also has an option to acquire an indirect interest in the Cierro Prieto geothermal lithium brine project in Baja California Norte, Mexico.
On Behalf of the Board
PAN AMERICAN LITHIUM CORP.
/s/ Andrew Brodkey
Andrew A. Brodkey
President and CEO
Tel: (520) 623-3090
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the statements that: (i) current annual global lithium demand (is) potentially growing from 100,000 metric tons of lithium carbonate equivalent to potentially in excess of 250,000 to 300,000 metric tons per year over the remainder of the current decade; (ii) Pan American is looking to exploit this tremendous opportunity with a number of brine projects in Chile, a geography with low political risk and a favorable fiscal regime; and (iii) Pan American Lithium most importantly benefits from holding assets that are particularly attractive given their competitive anticipated cost of extraction. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) inability to close one or all of the disclosed acquisitions for any reason; (ii) adverse market conditions; (iii) a decrease in demand for and price of lithium; (iv) the inability to obtain, or a change in local governmental or regulatory approval or policies that may adversely affect the exploration work; and (v) general uncertainties with respect to mineral exploration in general. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
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.
CONTACT: For further information contact:
David K. Waldman / John J. Quirk
Crescendo Communications, LLC
Tel: (212) 671-1020
Email: [email protected]
