Canada Lithium Corp

Published : April 29th, 2009

Enters into Marketing Agreement With Japanese

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Canada Lithium Corp. SnapMail

FOR IMMEDIATE RELEASE
April 28, 2009
Toronto, Ontario

TSX.V
Symbol:
CLQ
Shares Outstanding: 88,069,778

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Canada Lithium Enters into Marketing Agreement With Japanese Trading House

Canada Lithium Corp. (CLQ �� TSX.V) (the "Company") is pleased to announce that it has entered into a marketing agreement with a large Japanese trading house. The agreement gives the trading house the exclusive marketing rights for Japan, Korea and China for one year, until April 2010, for the lithium products from the Company's Quebec Lithium Project. After one year, the trading house has the option to renew the marketing right annually for up to six subsequent years. Canada Lithium Corp. will commence shipping lithium carbonate samples to the trading house in the second quarter of 2009.

The marketing agreement is instrumental in the advancement of the Company's Quebec Lithium Project through feasibility. The trading house is experienced in marketing and sales in these countries and will exert its efforts to solicit and obtain orders for Canada Lithium Corp.

Canada Lithium Corp. recently announced that it has materially advanced its lithium carbonate metallurgical process and has produced lithium carbonate that is comparable to the battery market specifications that are widely accepted by the industry. Canada Lithium's product significantly exceeds specifications with respect to aluminum and iron which are considered deleterious.

Canada Lithium Corp. is the 100% owner of the Quebec Lithium Project located 60 km northwest of Val d'Or, Quebec. The project is a large lithium spodumene deposit with excellent infrastructure and favourable metallurgy.

Quebec Lithium was an underground mine, surface concentration plant and a refinery from 1955 to 1965 which produced 272,000 tonnes of ceramic grade and chemical grade spodumene concentrates, lithium carbonate, lithium hydroxide monohydrate as well as a small quantity of lithium chloride and feldspar. At the time of the suspension of mining operations the ore reserve was 15 million tonnes at a grade of 1.14 % Li2O calculated down to the 150m level. The actual recovered grade during the ten years of production was 1.25% Li2O.

Canada Lithium Corp. is working in conjunction with SGS Lakefield Research to complete metallurgical test-work for the production of spodumene concentrate, lithium carbonate as well as high grades and purities of lithium carbonate. Metallurgical processing test-work has resulted in the production of a spodumene concentrate grading 7.17% Li2O with an 80% recovery and production of lithium carbonate that is comparable to the battery market specifications that are widely accepted by the industry. The Company will continue to optimize its lithium carbonate processing methodology and will start continuous process for metallurgical purposes in the third quarter of 2009.

In conjunction with optimizing the metallurgical processing activity, the Company is evaluating project economics including capital and operating costs, as well as downstream market off-take and pricing. The most recent industry forecast for lithium demand is a four-fold increase over ten years from the 2007 market demand of 100,000 tonnes of lithium carbonate equivalent (Li2CO3).

The previous reserve is being treated as a historical resource and is not National Instrument 43-101 compliant as it was completed prior to the implementation of these requirements. However, given the quality of the work completed, and the fact that the operation was a going concern over a decade, the Company believes the historical resource to be relevant and reliable. In addition, a qualified person has not done sufficient work to classify the historical resource as a current mineral resource and the issuer is not treating the historical resource as current. Hence, the historical resource should not be relied upon. Mitch Lavery (P.Geo), is the Company's qualified person as required under NI 43-101 and has reviewed the technical information contained in this press release.

Canada Lithium Corp. would also like to thank board member Kerry Knoll for his contribution to the Company. Kerry Knoll has stepped down from the board of directors to pursue other interests.

For more information please contact:

Judy Baker, President and CEO
(416) 361-2821
jbaker@canadalithium.com

Or visit our website at
www.canadalithium.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 


 

SnapMail is a Service of www.RMC.mobi

Canada Lithium Corp.
130 Adelaide Street West, Suite 2700
Toronto Ontario Canada
M5H 3P5


Tel: 416-361-2821
Email:
jbaker@canadalitium.com
Web:
www.canadalitium.com

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Canada Lithium Corp

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CODE : CLQ.TO
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Canada Lithium is a gold development stage company based in Canada.

Canada Lithium develops gold and lithium in Canada, and holds various exploration projects in Canada.

Its main asset in development is QUEBEC LITHIUM in Canada and its main exploration property is TULLY GOLD in Canada.

Canada Lithium is listed in Canada. Its market capitalisation is CA$ 86.9 millions as of today (US$ 66.6 millions, € 56.3 millions).

Its stock quote reached its lowest recent point on December 26, 2008 at CA$ 0.05, and its highest recent level on December 31, 2010 at CA$ 6.69.

Canada Lithium has 362 204 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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Annual reports of Canada Lithium Corp
2007 Annual report
Financings of Canada Lithium Corp
9/22/2008Private Placement 1st Tranche Closes
Nominations of Canada Lithium Corp
8/12/2013Appoints Former FMC Process Plant Manager at Val d'Or Proces...
6/1/2012Appoints General Manager; Process Plant Manager
3/21/2012Appoints Former Senior
12/1/2011Provides Update on Québec Lithium Project; Appoints Vice
1/24/2011(Quebec Lithium)Appoints Quebec-based GENIVAR
5/12/2010Appoints BBA Inc. to conduct
10/7/2009Appoints New CFO and Investor Relations Direc
Project news of Canada Lithium Corp
10/4/2013Announces Project Update
6/20/2013Project Update
4/4/2013Announces Project Update
3/20/2013Announces Water Discharge; Mine and Plant Commissioning Cont...
1/31/2013Provides Project Update
1/7/2013Goes 'Prime Time' Tonight on Discovery Channel
8/23/2012Announces Project On Track for Year-end Commissioning; Lithi...
7/10/2012Project Update: Major Process Equipment Received; Full-time ...
4/23/2012Secures C$92-million financing; long lead-time equipment arr...
9/23/2011Announces Drill Results including 32 metres grading 1.29% Li...
8/25/2011Announces Drill Results and Permitting Update
7/6/2011Announces Key Personnel Appointments and Equipment Purchases...
6/21/2011Files NI 43-101 Compliant Feasibility Study Technical Report...
5/30/2011(Quebec Lithium)Granted Construction Permit for Québec Lithium Project
5/2/2011(Quebec Lithium).: Default Announcement Pursuant to National Policy 12-203
4/11/2011(Quebec Lithium)to Vigorously Defend Lawsuit
3/17/2011(Quebec Lithium)Appoints AMC Mining
3/13/2011(Quebec Lithium)Provides Background Information on the Quebec Lithium Projec...
2/28/2011(Quebec Lithium)Canada Lithium Appoints Quebec-based GENIVAR Inc. to Manage ...
7/6/2010(Quebec Lithium)Project update; drilling intersects 66.3 metres grading
3/22/2010(Quebec Lithium)plans 42.6-million-lb-per-year lithium carbonate mine by lat...
3/4/2010(Quebec Lithium)Completes 43-101 resource estimate
1/20/2010(Quebec Lithium)Intersects higher-grade lithium and confirms depth potential...
11/2/2009(Quebec Lithium)Doubles Conceptual Target Estimate To 29-30 Million Tonnes G...
Corporate news of Canada Lithium Corp
1/21/2014Sirocco and Canada Lithium announce new
12/24/2013Receives $10-Million Bridge Loan
12/4/2013Sirocco and Canada Lithium combining to form
11/18/2013Posts Milestone Achievement with First Continuous Lithium Ca...
11/13/2013Completes $14.4-Million
10/22/2013Announces $12.5 Million Bought Deal Public Offering
9/16/2013(Quebec Lithium)Resumes Commissioning of Quebec Lithium Plant
9/3/2013Announces $5-Million Prepayment from Off-take Partner Tewoo-...
8/29/2013To Vigorously Defend Against a Class Action Lawsuit Related ...
8/21/2013Announces Process Plant Maintenance/Upgrade Program; Commiss...
7/24/2013Produces Battery-Grade Lithium Carbonate in Initial Sample
7/5/2013Announces Completion of
7/2/2013Produces Initial Run of 99.1% Lithium Carbonate; Awarded ISO...
5/15/2013Completes Offering of $27.6
5/10/2013announces grant of option to
5/7/2013Announces CSA Approval to Operate its Process Plant Kiln
4/29/2013Announces $21.1 Million Convertible Debenture Bought Deal Fi...
4/22/2013Commissioning Update
4/12/2013Announces Project Update and Appointment of New CFO
3/27/2013Announces Results of Water Discharge Tests; Metal Levels Wit...
3/25/2013Completes $15 Million Offering
2/15/2013Granted up to $6.5 million for Lithium Metal Pilot Plant fro...
1/10/2013Signs Off-take Agreement with Marubeni for up to 5,000 tonne...
10/29/2012Completes Initial Debt Drawdown; Commences Tailings Construc...
10/11/2012Completes Updated Feasibility Study; Significant Increase in...
6/6/2012Announces Closing of
6/4/2012Announces Receipt of
5/30/2012Closes $30 Million Equity
5/23/2012Announces Pricing of $30
5/1/2012Announces Filing of
3/1/2012will be attending the 2012 Prospectors and Developers Associ...
3/1/2012has recently been in the news following the announcement of ...
2/13/2012Announces C$75-million Debt
10/25/2011featured in prestigious mining publication
6/13/2011Confirms Québec Lithium
6/13/2011Confirms Québec Lithium Mine Viability; Schedules Site C...
5/16/2011Announces Revised Mineral
8/10/2010Signs Purchase Agreement to Sell Tully Gold Prospect
7/26/2010Chosen for world's first
6/29/2010Read all about it: Canada Lithium adds electric-vehicle news...
6/23/2010Listed on Senior TSX Exchange
5/18/2010Gains Listing on U.S. Trading
3/29/2010CEO sees soaring demand as electric vehicles gain popularity
11/23/2009launches pilot-scale metallurgical test; undertakes review o...
11/5/2009Focuses on Advanced Quebec Project; Relinquishes Interest in...
10/14/2009Initiates Environmental Impact Study
10/5/2009And Gold Summit Complete Drilling at Nevada
9/30/2009Produces 99.6% Battery-Grade Lithium From Tes
9/5/2008Debenture Redemption
9/5/2008BLK Sale to Cuprus of Ferro and Wekusko Options
9/5/2008BLK Sale to Cuprus of Ferro and Wekusko Options
9/5/2008BLK Sale to Cuprus of Ferro and Wekusko Options
8/19/2008 Debenture Redemption
6/25/2008Acquires Nevada Lithium Brine Prospect
10/17/2007Final batch of results from Glacier drilling and further pro...
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