Canada Lithium Closes $10 Million BlackRock, Inc. Financing

Casimir Capital Ltd. acted as agent in the transaction and will receive a 5% cash commission. Definitive pricing of the placement was established November 12; legal documentation was finalized November 24.

Canada Lithium Corp. is a Canadian-based "clean tech" mine developer trading under the symbol CLQ on the TSX and on the U.S. OTCQX market under the symbol CLQMF.

The Company is nearing completion of a definitive Feasibility Study (FS) by engineering firm BBA Inc. of Montreal on its Quebec Lithium Project near Val d’Or, the geographical heart of the Quebec mining industry. A positive FS would lead to construction of an open pit mine and processing plant capable of producing by late 2012 approximately 43 million pounds per year of battery-grade lithium carbonate to meet the growing needs of the emerging global market for electric and hybrid electric vehicles.

It has an agreement with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of Canada Lithium Corp.’s product in China, Korea and Japan. Metallurgical tests from deposit samples have produced 99.9% battery-grade lithium carbonate.