Lithium

Lithium One Inc.(TSXV:LI) reported receiving final approval from the Ontario Superior Court of Justice for its plan of arrangement with Galaxy Resources Limited and Galaxy Lithium One. The Company received the receipt of approval after a shareholder meeting on June 18, 2012.

Lithium One Inc.(TSXV:LI) announced that it entered into a plan of agreement with Galaxy Resources Limited. Galaxy will acquire all the outstanding securities of Lithium One under the terms of the agreement. Both companies expect to close the agreement on July 3, 2012.

Galaxy Lithium One Inc., a wholly owned subsidiary of Galaxy Resources Limited, has agreed to amend the terms of the exchangeable shares which may be issued to certain eligible shareholders of Lithium One Inc. (TSXV:LI) who elect to receive Exchangeable Shares under the previously announced plan of arrangement transaction whereby Galaxy will acquire all of the outstanding securities of Lithium One.

Lithium One Inc.(TSXV:LI) announced that it has received an interim court order for merger from the Ontario Superior Court of Justice authorizing a shareholder's meeting. The Company will put forward a proposed plan of arrangement with Galaxy Resources Limited at the meeting.

The Lithium One Inc. (TSXV:LI) Board of Directors maintained its recommendation that the holders of Lithium One securities vote in favour of the plan of arrangement whereby a wholly owned subsidiary of Galaxy will acquire all of the outstanding securities of Lithium One.

Lithium One Inc. (TSXV:LI) and Galaxy Resources Limited (ASX:GXY) of Australia have entered into a definitive arrangement agreement pursuant to which a wholly owned subsidiary of Galaxy will acquire by way of a court-approved plan of arrangement all of the outstanding securities of Lithium One.

Lithium One Inc.(TSXV:LI) announced that it has completed its short term testing program at the Sal de Vida project. The testing program identified multiple regions that are suitable for future high-yield production well fields at the project.

Lithium One Inc.(TSXV:LI) announced upgraded lithium and potassium resources at its Sal de Vida project. The Company also announced that a new Technical Report that follows the guidelines of NI 43-101 standards is due to be filed within the next 45 days.

Lithium One Inc. (TSXV:LI) completed resource drilling for the Sal de Vida lithium and potash project at Salar del Hombre Muerto, Argentina. New drill results will contribute to a reclassification and expansion of the resource in a new resource estimate, as averaged lithium and potash grades are approximately 10% higher than those of the NI 43-101 resource previously announced.

Lithium One Inc. (TSXV:LI) announced the appointment of a new member, Mr.Juarez, to its management team. Lithium One also announced that it has made the final payments to secure a further 28 mining licenses.