First Lithium Commences Drilling Near Trelawney
November 24 2010 - 8:00AM
Marketwired
First Lithium Resources Inc. (TSX VENTURE: MCI)(PINK SHEETS:
FLNTF)(FRANKFURT: MHN) (the "Company") is pleased to announce that
a drill rig (NQ) has been mobilized to the newly optioned Mollie
River property, and a minimum 6 hole, 1200m program is set to
commence today. The Company is prepared and capitalized to expand
on the designed program if it is deemed warranted.
The property is located approx.75 km SSW of Timmins, Ontario,
approximately 4 km from the western edge of Trelawney Mining and
Exploration Inc.'s ("Trelawney" TSX-V: TRR) Chester Gold
Complex.
The TSX Venture Exchange has accepted for expedited filing
documentation of the option agreement dated Nov. 19, 2010, between
the Company and Newcastle Minerals Ltd., whereby the Company may
acquire up to a 75% interest in the Mollie River claims.
President, Craig Naughty, stated: "We feel very fortunate to
have the opportunity to delve into what we feel to be an
underexplored property in such close proximity to Trelawney, given
the categorical success they have had in their drill programs to
date."
The consideration payable to earn a 60%/75% interest in the
property is $15,000 cash, 1,000,000/1,750,000 common shares of the
Company and an exploration commitment of $500,000/$1,000,000.
For further details, please refer to the Company's news release
dated Nov. 19, 2010.
ON BEHALF OF THE BOARD
Craig Naughty, President & CEO
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.
Contacts: First Lithium Resources Inc. Craig Naughty President
& CEO (604) 669-0401 or Toll Free:1 (877) 669-0401 (604)
669-0414 (FAX) info@firstlithiumresources.com
www.firstlithiumresources.com
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