Canada Lithium Signs Five-year Offtake Agreement and Joint Venture with a unit of Tewoo Group, a 'Global 500' Company

Canada Lithium Signs Five-year Offtake Agreement and Joint Venture with a unit 
of Tewoo Group, a 'Global 500' Company 
TSX: CLQ; U.S. OTC: CLQMF 
TORONTO, Nov. 12, 2012 /CNW Telbec/ - Canada Lithium Corp. (TSX: CLQ) (U.S. 
OTC: CLQMF), announced today it has signed a five-year lithium carbonate 
offtake agreement with Tewoo-ERDC (Tianjin Products and Energy Resources 
Development Co., Ltd.), one of China's larger commodities traders, for a 
minimum annual commitment of 12,000 tonnes of battery-grade lithium carbonate. 
The five-year agreement also includes a provision for the formation of a 
Sino-Canadian marketing joint venture (SFJV) to be incorporated as Tewoo 
Québec Lithium CO., LTD. The agreement calls for Canada Lithium to deliver 
lithium carbonate FOB to the Port of Vancouver or Port of Prince Rupert, B.C., 
beginning March 2013. Tewoo-ERDC is a wholly-owned subsidiary of Tewoo Group, 
one of the world's top 500 companies in terms of revenue, according to a 
Fortune Magazine 2012 ranking. 
Delivery of the first 12,000 tonnes is scheduled to occur over the course of 
calendar year 2013. Following 2013 and for the four years thereafter, Tewoo 
has committed to import a minimum 12,000 tonnes per year with a provision to 
increase the offtake volumes by as much as 20% per year over the previous 
year's deliveries. In the event Tewoo triggers the 20% clause in 2014, 
Canada Lithium could deliver up to a maximum 14,400 tonnes during calendar 
year 2014. Prices will be adjusted quarterly based on actual market prices. 
Canada Lithium's mine and processing plant near Val d'Or, Québec, currently 
approaching the end of construction and scheduled to enter the commissioning 
phase late this year, will have an annual capacity to produce approximately 
20,000 tonnes of lithium carbonate. 
"The agreement with Tewoo secures a market for a significant portion of our 
annual production and demonstrates that China is the fastest growing consumer 
of lithium carbonate products. Having a long- term, strategic partnership with 
the Tewoo group will provide significant support for our product sales and 
distribution in China," said Canada Lithium CEO and President Peter Secker. 
"Negotiations with other parties for additional lithium carbonate tonnages are 
ongoing." 
The lithium markets remain robust with the current China spot price at 
approximately $6,600 per tonne, according to Asian Metal, a global commodities 
information company. The registration of the SFJV remains subject to 
government approvals in China. 
Project Update 
The project continues to meet its budget and schedule milestones for 
commissioning of the spodumene circuit by the end of 2012. Pre-commissioning 
tests on the larger mechanical and electrical equipment have started. 
Pre-stripping of the deposit and construction of the first phase of the 
Tailings Management Facility (TMF) are ongoing as scheduled. 
About Canada Lithium Corp. 
The Company holds a 100% interest in the Québec Lithium Project near Val 
d'Or, the geographical heart of the Québec mining industry. It is in the 
midst of building an open-pit mine and processing plant on-site with estimated 
capacity to produce approximately 20,000 tonnes of battery-grade lithium 
carbonate annually. Metallurgical tests have produced battery-grade lithium 
carbonate samples. Lithium carbonate is used in lithium-ion batteries that 
power consumer electronics (laptops, tablets, etc.) power-grid storage 
facilities and electric and hybrid vehicles. The Company trades under the 
symbol CLQ on the TSX and on the U.S. OTCQX under the symbol CLQMF. 
Cautionary Statement Regarding Forward-Looking Information 
This press release contains "forward-looking information" within the meaning 
of Canadian securities legislation. Forward-looking information is based upon 
the Company's beliefs, estimates and opinions as at the date of this press 
release, which the Company believes are reasonable, but no assurance can be 
given that these will prove to be correct. Furthermore, the Company undertakes 
no obligation to update or revise forward-looking information contained herein 
if these beliefs, estimates and opinions or other circumstances should change, 
except as otherwise required by applicable law. 
Forward-looking information relates to future events or to future conditions, 
performance or results of operations and reflects current expectations or 
beliefs regarding such matters including, but not limited to, information or 
statements with respect to: (i) the amount of mineral resources; (ii) 
exploration, development and production activities, including information 
regarding the potential mineralization and resources; (iii) the amount of 
future output over any period; (iv) net present value and internal rates of 
return of the mining operation; (v) assumptions relating to capital costs, 
operating costs and other cost metrics; (vi) assumptions relating to gross 
revenues, operating cash flow and other revenue metrics; (vii) assumptions 
relating to future price and demand for lithium and other macroeconomic 
metrics; (viii) exploration and development plans, including anticipated costs 
and timing thereof, time frames for completion, and anticipated time to 
production; (ix) mine potential and expected mine life; and * sources of and 
anticipated financing requirements. 
All information other than matters of historical fact may be forward-looking 
information. In some cases, forward-looking information can be identified by 
the use of words such as "seek", "expect", "anticipate", "budget", "plan", 
"project", "estimate", "assume", "continue", "forecast", "intend", "believe", 
"predict", "potential", "target", "strategy", "goal", "may", "could", "would", 
"might", or "will" and similar words or phrases (including negative 
variations) suggesting future outcomes or statements regarding an outlook. 
Forward-looking information is based upon certain assumptions by the Company 
or its consultants and other important factors that, if untrue, could cause 
the actual results, performances or achievements of the Company to be 
materially different from future results, performances or achievements 
expressed or implied by such information. Such information is based on 
numerous assumptions regarding present and future business strategies and the 
environment in which the Company will operate in the future, including the 
price of lithium, anticipated costs and ability to achieve goals. Certain 
important factors that could cause actual results, performances or 
achievements to differ materially from those in the forward-looking 
information include, but are not limited to: (i) required capital investment 
and estimated workforce requirements; (ii) estimates of net present value and 
internal rates of return; (iii) future demand and market prices for lithium; 
(iv) receipt of regulatory approvals on acceptable terms within commonly 
experienced time frames; (v) anticipated timelines for the commencement of 
production; (vi) anticipated timelines for community consultations and the 
impact of those consultations on the regulatory approval process; and (vii) 
future exploration plans and objectives. 
By its nature, forward-looking information involves known and unknown risks, 
uncertainties and other factors which may cause actual results, performance or 
achievements, or industry results, to differ materially from those expressed 
or implied by such forward-looking information. Some of the risks and other 
factors that could cause actual results to differ materially from those 
expressed in the forward-looking information contained in this press release 
include, but are not limited to, risks and uncertainties relating to: (i) the 
interpretation of drill results, the geology, grade and continuity of mineral 
deposits and conclusions of economic evaluations; (ii) results of feasibility 
studies, and the possibility that future exploration, development or mining 
results will not be consistent with the Company's expectations, (iii) the 
outcome of litigation in which the Company is or may in the future become 
involved; (iv) risks relating to possible variations in reserves, grade, 
planned mining dilution and ore loss, or recovery rates and changes in project 
parameters as plans continue to be refined; (v) mining and development risks, 
including risks related to accidents, equipment breakdowns, labor disputes 
(including work stoppages and strikes) or other unanticipated difficulties 
with or interruptions in exploration and development; (vi) risks related to 
the inherent uncertainty of production and cost estimates and the potential 
for unexpected costs and expenses; (vii) risks related to future commodity 
demand and price and foreign exchange rate fluctuations; (viii) the 
uncertainty of profitability based upon the cyclical nature of the industry in 
which the Company operates; (ix) risks related to failure to obtain adequate 
financing on a timely basis and on acceptable terms or delays in obtaining 
governmental approvals or in the completion of development or construction 
activities; * risks related to environmental regulation and liability; (xi) 
political and regulatory risks associated with mining and exploration; (xii) 
risks related to the uncertain global economic environment; and (xiii) other 
risks and uncertainties related to the Company's prospects, properties and 
business strategy. Although the Company has attempted to identify important 
factors that could cause actual results or events to differ materially from 
those described in the forward-looking information, readers are cautioned that 
this list is not exhaustive and there may be other factors that the Company 
has not identified. Readers are cautioned not to place undue reliance on 
forward-looking information contained in this press release. All 
forward-looking information contained in this press release or incorporated by 
reference herein is expressly qualified by this cautionary note. 
Peter Secker, President and CEO (416) 361-2821 
Olav Svela, Director, Investor Relations (416) 361-2821 or (416)  479-4355 or 
emailosvela@canadalithium.com 
Christine Stewart, Renmark Financial Communications Inc. (416) 644-2020  or 
emailcstewart@renmarkfinancial.com 
Please visit the Canada Lithium website atwww.canadalithium.com or copy the 
following link into your Web browser to view our Photo  
Gallery:http://www.canadalithium.com/s/PhotoGallery.asp. 
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Corporate Office: 401 Bay Street, Suite 2010, Box 118, Toronto, ON, M5H  2Y4 
SOURCE: CANADA LITHIUM CORP. 
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CO: CANADA LITHIUM CORP.
ST: Ontario
NI: MNG VNT  
-0- Nov/12/2012 13:15 GMT
 
 
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