Canada Lithium Corp fka CLQ

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Quebec Lithium Project



Property Highlights - June 2008
Commodities: Lithium
Location: La Corne Township, 60 km north of Val d’D’Or, Quebec
Size of property: 12 claims, 405 hectares
Status: Scoping study & metallurgical testing
Ownership: 100% Canada Lithium

Acquisition and Planned Work
In May 2008, Canada Lithium obtained TSX Venture Exchange approval and closed
the transaction to acquire Quebec Lithium near Val D’Or, Quebec from IAMGOLD
Corporation ("IAMGOLD"). Canada Lithium Corp. has issued six million shares to
IAMGOLD and paid $350,000 in cash as well as IAMGOLD's costs to complete
the transaction.

Canada Lithium Corp. plans to commence an economic scoping study
metallurgical testing in summer 2008 to determine the viability of taking the
Quebec Lithium property to production. An additional systematic program of
exploration drilling followed by confirmation drilling to define and verify the extent
of the deposit and its resources is also planned.

Location
Quebec Lithium Property is located in the north-east corner of Lacorne Township,
approximately 38 km south-east of Amos, 15 km west of Barraute and 60 km
north of Val-d’Or, Quebec. The property consists of 12 contiguous claims
covering 404.69 hectares. Quebec is one of the top rated mining jurisdictions in
the world and electricity costs are amongst the lowest in North America.

Property Description and Previous Work
Quebec Lithium is a system of underground spodumene-rich dikes. The mine
was operated under the former Quebec Lithium Corporation as an underground
mine, surface concentration plant and refinery from 1955 to 1965, to produce
ceramic grade and chemical grade spodumene concentrates, lithium carbonate,
lithium hydroxide monohydrate as well as a small quantity of lithium chloride and
feldspar.

When mining operations were suspended, the proven ore reserve was stated to
be 15,612,300 tonnes at a grade of 1.14% Li2O calculated down to the 150 metre
level in the proven, probable and possible categories. The reserve was
calculated using an 85% recovery rate and a 7% dilution factor. Over a period of
10 years of operation, the ore hoisted from underground works averaged a grade
of 1.25% of LiO2 against the composed 1.13%, derived from geological sections.

Note: This resource calculation is considered historical and is not considered
National Instrument 43-101 compliant. In addition, the Company has not
completed sufficient work to classify this historical estimate as a current under
the guidelines set forth by the Canadian Institute of Mining and Metallurgy and
should not be relied upon. However, given the quality of the work completed, the
company believes the resource estimate to be relevant enough to base its
exploration programs.