Talison Lithium and Rockwood Terminate Agreement

Talison Lithium and Rockwood Terminate Agreement 
PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 12/12/12 -- Talison
Lithium Limited ("Talison" or the "Company") (TSX:TLH) and Rockwood
Holdings, Inc. ("Rockwood") have agreed to terminate the scheme
implementation agreement for the proposed schemes of arrangement
between Talison and its Shareholders and Optionholders that would
have resulted in all Talison Securities being acquired by a wholly
owned subsidiary of Rockwood, as announced on August 23, 2012 (the
"Rockwood Proposal"). Talison will pay Rockwood a C$7 million break
The termination of the Rockwood Proposal was foreshadowed in
Talison's announcement on December 6, 2012 regarding the proposed
schemes of arrangement between Talison and its Shareholders and
Optionholders that would result in all Talison Securities being
acquired by Windfield Holdings Pty Ltd, an Australian incorporated
wholly-owned subsidiary of Chengdu Tianqi Industry (Group) Co., Ltd
("Tianqi Schemes"). 
As a result of the termination of the Rockwood Proposal, the
adjourned meetings of Securityholders that were scheduled for
December 13, 2012 will not proceed. 
Talison expects that the approval of the Tianqi Schemes will be put
to Securityholders at meetings to be held in late February 2013, and
that the Tianqi Schemes will be completed during March 2013.  
Further details of the meetings in relation to the Tianqi Schemes,
including record dates and proxy deadlines, will be included in
booklets that will be mailed to Securityholders. The booklets will
contain, among other things, further information about the Tianqi
Schemes and related Securityholder meeting materials.  
Cautionary Note Regarding Forward-Looking Statements 
Certain information contained in this press release, including any
information as to Talison's mineral reserve and mineral resource
estimates, strategy, projects, plans, prospects, future outlook,
anticipated events or results or future financial or operating
performance, may constitute "forward-looking information" within the
meaning of Canadian securities laws. All statements, other than
statements of historical fact, constitute forward-looking
information. Forward-looking information can often, but not always,
be identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", "predicts", "potential", "continue" or
"believes", or variations (including negative variations) of such
words, or statements that certain actions, events or results "may",
"could", "would", "should", "might", "potential to", or "will" be
taken, occur or be achieved or other similar expressions concerning
matters that are not historical facts. The purpose of forward-looking
information is to provide the reader with information about
management's expectations and plans. Readers are cautioned that
forward-looking statements are not guarantees of future performance.
All forward-looking statements made or incorporated in this press
release are qualified by these cautionary statements.  
Forward-looking statements are necessarily based on a number of
factors, estimates and assumptions that, while considered reasonable
by Talison, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. Such factors,
estimates and assumptions include, but are not limited to:
anticipated financial and operating performance of Talison, its
subsidiaries and their respective projects; Talison's market
position; future prices of lithium or lithium concentrates;
estimation of mineral reserves and mineral resources; realization of
mineral reserve and mineral resource estimates; timing, amount and
costs of estimated future production; grade, quality and content of
concentrate produced; sale of production; capital, operating and
exploration expenditures; costs and timing of the expansion of the
Greenbushes Lithium Operations; exploration and development of the
Salares 7 lithium project; costs and timing of future exploration;
requirements for additional capital; government regulation of
exploration, development and mining operations; environmental risks;
reclamation and rehabilitation expenses; title disputes or claims;
absence of significant risks relating to Talison's mining operations;
the costs of Talison's hedging policy; sales risks related to China;
currency; interest rates, and limitations of insurance coverage.
While Talison considers these factors, estimates and assumptions to
be reasonable based on information currently available to it, they
may prove to be incorrect and actual results may vary.  
Readers are cautioned that forward-looking information involves known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of Talison and/or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information. Such risk factors include, among others,
those described in the unaudited condensed consolidated interim
financial statements of Talison as at September 30, 2012 and for the
three months ended September 30, 2012 and under the heading "Risk
Factors" in the annual information form of Talison for the year ended
June 30, 2012 dated September 26, 2012, each of which can be found on
Talison's SEDAR profile at www.sedar.com. While Talison considers
these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect and actual results
may vary.  
Although Talison has attempted to identify statements containing
important factors that could cause actual actions, event or results
to differ materially from those described in forward-looking
information, there may be other factors that cause actions, events or
results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein is made as of the date
of this press release based on the opinions and estimates of
management on the date statements containing such forward-looking
information are made. Except as required by law, Talison disclaims
any obligation to update any forward-looking information, whether as
a result of new information, estimates or opinions, future events or
results or otherwise. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information.
Talison Lithium
Frank Wheatley
Executive Director
+1 (604) 985 0528 
Macquarie Capital
Michael Ashforth
Executive Director
+61 (8) 9224 0644 
Macquarie Capital
David Cobbold
Managing Director
+1 (416) 848 3654
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