TSX Venture

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sideways action till the market digests this latest development...hsb

First Lithium to raise $350,000 for Canadian properties

2009-05-28 09:56 ET - News Release

Mr. Craig Naughty reports

FIRST LITHIUM RESOURCES ANNOUNCES PRIVATE PLACEMENT - FINANCING OF UP TO $350,000

First Lithium Resources Inc. wishes to proceed with a non-brokered private placement of up to 3.5 million units at a purchase price of 10 cents per unit for proceeds of up to $350,000. Each unit shall consist of one common share and one warrant with each warrant entitling the holder to acquire one common share of the company for a period of two years following the closing date at an exercise price of 15 cents per share in the first year and 20 cents per share in the second year.

The funds will be used for general working capital and for further development of the company's Canadian properties.

Finder's fees will be payable within the TSX Venture Exchange guidelines.

This transaction is subject to the approval of the TSX-V.