Li3 Energy Announces Signing of a Letter of Intent to Acquire Next Lithium Corp.

WALNUT CREEK, Calif., Nov. 25 /PRNewswire-FirstCall/ -- Li3 Energy, Inc. ("Li3" or the "Company") (OTC Bulletin Board: LIEG) is pleased to announce that it has signed a letter of intent to acquire Next Lithium Corp. ("Next Lithium").

Next Lithium has options to acquire 100% interests in the BSV Placer, CSV Placer, LM Placer and MW Placer Mineral Claims, comprising approximately 75,000 acres in total of lithium brine mineral properties located in Big Smokey Valley near Tonopah, Nevada.

These claims lie within a few miles of Rockwood Holdings' Silver Peak Mine, the only producing lithium mine in the United States of America. The claims include historic lithium exploration wells from work programs conducted by the United States Geological Survey, with grades up to 300 ppm.

The transaction is subject to legal and financial due diligence by Li3, which is expected to be finalized within the next 90 days. The parties have agreed to use their best efforts to sign a formal agreement within 90 days. The letter of intent contains, and the formal agreement will contain, customary exclusivity provisions and other conditions to closing.

Luis Saenz, CEO of Li3, commented on the announcement, "We are extremely excited about this critical mass brine property package in Nevada. Our initial and continuing focus is Latin America, but this was an opportunity that we could not ignore in our efforts to become a major global lithium player. The property has reported existing lithium anomalies by assay, and potentially could be the next lithium mine coming on stream to support the clean energy and green energy initiatives being implemented globally. It is notable that this package represents the largest lithium brine land position surrounding the Silver Peak Mine, the only producing lithium mine in the US. We expect to start confirmatory drilling as soon as practical after our due diligence concludes. Additionally we are in negotiations on properties in Chile and Argentina, which we hope to announce soon."

About Li3 Energy, Inc.

Li3 Energy, Inc. is an early stage company currently pursuing a business strategy in the lithium mining sector, seeking to acquire significant lithium brine deposits for the purpose of immediate development and production in order to meet growing market demand.

For more information, please contact the Company's Investor Relations department at 011-511-212-1880.

www.li3energy.com

Forward-Looking Statements

Certain statements in this news release are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "proposes", "hopes," "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information and assumptions of management. The proposed acquisition of Next Lithium is subject to a number of conditions that may not be satisfied, and there can be no assurance that it will be consummated, nor can there be any assurance that the Lithium Man Placer Mineral Claims will be successfully developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company, including, but not limited to, the Company's ability to identify other corporate acquisition and/or joint venture opportunities in the lithium mining sector and to establish the technical and managerial infrastructure, and to raise the required capital, to take advantage of, and successfully participate in such opportunities; future economic condition; political stability; and lithium prices. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission at www.sec.gov.

SOURCE Li3 Energy, Inc.

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