LTH Lithium Ionic Corp

Lithic Resources Ltd. (TSX VENTURE: LTH) (the "Company") is pleased to announce that it has received an independent resource estimate for its 100% owned Crypto project in western Utah from Mine Development Associates ("MDA") of Reno, Nevada.

Highlights

--  a 40% increase in the sulphide zinc resource compared with the previous
    historical (pre-NI 43-101) estimate
--  a significant potential source of indium, a key constituent in flat
    panel displays and solar panels, located in the continental USA
--  mineralization is open in three directions for expansion through
    additional drilling
--  a large, overall resource of zinc, copper and indium, as follows:

-------------------------------------------------------------------
Category   Cutoff ZnEq%     Tonnes   % ZnEq   % Zn    % Cu   g/t In
-------------------------------------------------------------------
Indicated         3.00   6,298,000     6.87   4.75   0.322     46.2
-------------------------------------------------------------------
Inferred          3.00  15,832,000     6.95   5.08   0.359     34.9
-------------------------------------------------------------------
--------------------------------------------------------------
Category   Cutoff ZnEq%         Lbs Zn        Lbs Cu     Kg In
--------------------------------------------------------------
Indicated         3.00     659,482,000    44,752,000   291,000
--------------------------------------------------------------
Inferred          3.00   1,774,360,000   125,446,000   551,900
--------------------------------------------------------------

--  a significant volume with higher grades, as follows:

-------------------------------------------------------------------
Category   Cutoff ZnEq%     Tonnes   % ZnEq   % Zn    % Cu   g/t In
-------------------------------------------------------------------
Indicated         6.00   2,659,000    10.48   8.01   0.369     54.5
-------------------------------------------------------------------
Inferred          6.00   7,184,000    10.22   8.04   0.441     38.4
-------------------------------------------------------------------
--------------------------------------------------------------
Category   Cutoff ZnEq%         Lbs Zn        Lbs Cu     Kg In
--------------------------------------------------------------
Indicated         6.00     469,349,000    21,621,000   144,900
--------------------------------------------------------------
Inferred          6.00   1,273,108,000    69,892,000   275,900
--------------------------------------------------------------

Outlook

The President and CEO of the Company, Chris Staargaard, stated that "MDA's resource estimate has confirmed our confidence in the Crypto project. This is a high-quality advanced asset with infrastructure in a politically stable jurisdiction, a mineral deposit that to the best of our knowledge represents the most significant potential indium resource in the continental USA. We believe that the Crypto deposit has the potential ultimately to be developed as a conventional underground mine followed by recovery of lower-grade oxide mineralization near surface. Such an operation would have a minimal environmental footprint and relatively low capital expenses. Furthermore, there is high grade mineralization potentially amenable to early mining and rapid capital payback."

Subject to financing, the Company is planning an intensive program of drilling, metallurgical studies and other work to further expand and investigate the zinc-copper-indium resource, the data from which would lead to a pre-feasibility study. Included in this program would be exploration drilling to follow up on numerous drill intercepts of significant molybdenum, high-grade silver-zinc-lead and outlying zinc-copper mineralization.

Technical

MDA completed the Crypto resource estimate using a highly detailed, three dimensional block model constructed on the basis of both Lithic's and historical drilling. Zinc, copper and indium grades were assigned to each block using inverse distance interpolation. Zinc-equivalent grades used for cutoff reporting used a zinc price of US$0.80/lb, a copper price of US$2/lb and an indium price of US$500/kg to determine the relative value of each metal. All mineralization was diluted to minimum dimensions of 2m by 2m by 3m.

Resource figures reported on a zone by zone basis are as follows:

--------------------------------------------------------------------
           Cutoff ZnEq%     Tonnes    ZnEq%    % Zn    % Cu   g/t In
--------------------------------------------------------------------
Sulphide
--------------------------------------------------------------------
 Indicated        3.00   5,800,000    6.60     4.44   0.309     48.8
--------------------------------------------------------------------
 Inferred         3.00  13,805,000    6.83     4.84   0.372     37.4
--------------------------------------------------------------------

--------------------------------------------------------------------
 Indicated        6.00   2,411,000    9.91     7.43   0.329     58.3
--------------------------------------------------------------------
 Inferred         6.00   6,297,000    9.91     7.62   0.443     41.7
--------------------------------------------------------------------

--------------------------------------------------------------------
Oxide
--------------------------------------------------------------------
 Indicated        1.00   1,114,000    5.48     4.54   0.263    10.31
--------------------------------------------------------------------
 Inferred         1.00   4,644,000    4.45     3.73   0.165    12.55
--------------------------------------------------------------------
--------------------------------------------------------------
           Cutoff ZnEq%          Lb Zn         Lb Cu     Kg In
--------------------------------------------------------------
Sulphide
--------------------------------------------------------------
 Indicated        3.00     568,151,000    39,446,000   283,100
--------------------------------------------------------------
 Inferred         3.00   1,472,057,000   113,191,000   516,400
--------------------------------------------------------------

--------------------------------------------------------------
 Indicated        6.00     394,929,000    17,491,000   140,700
--------------------------------------------------------------
 Inferred         6.00   1,057,338,000    61,497,000   262,300
--------------------------------------------------------------

--------------------------------------------------------------
Oxide
--------------------------------------------------------------
 Indicated        1.00     111,413,000     6,449,000    11,500
--------------------------------------------------------------
 Inferred         1.00     382,312,000    16,932,000    58,300
--------------------------------------------------------------
Note: base case in bold, indium not included in ZnEq cutoff for oxides

MDA noted that a significant proportion of the resources classified as Inferred would have been categorized as Indicated if only zinc and copper values were considered. However, because indium was not assayed in historical work, the lower overall density of samples with indium assays resulted in an Inferred designation for a significant proportion of mineralization that otherwise would have been classified as Indicated.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and was reviewed by Chris Staargaard, P.Geo, President and Chief Executive Officer of Lithic as well as Paul Tietz, R.P.G., and Steven Ristorcelli, R.P.G., of MDA, the latter two of whom are independent qualified persons as defined in NI 43-101. Quality-control data generated during Lithic's drill program at Crypto were independently reviewed by Dr. Giles Peatfield, P.Eng. A technical report will be filed on SEDAR within 45 days. Further information is available at www.lithicresources.com.

Investors are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The above mineral resource estimates account for dilution and are based on reasonable assumptions about probable mining and processing methods. However, they do not account for factors such as mineability, selectivity or mining loss. They include Inferred mineral resources that are considered to be geologically speculative and cannot be subjected to sufficient economic analysis for them to be categorized as mineral reserves. US investors are further cautioned that the resources as stated in this news release, while fully compliant with Canadian and other international standards, do not conform with current SEC terminology or rules.

LITHIC RESOURCES LTD.

C.F. Staargaard, President and CEO

"Neither the 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: Lithic Resources Ltd. C.F. Staargaard President and CEO (604) 687-7211 info@lithicresources.com www.lithicresources.com