Talison Lithium Announces Court Approval of Scheme

PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 03/12/13 -- Talison Lithium Limited ("Talison") (TSX: TLH) advises that the Federal Court of Australia has today (Perth time) approved the Tianqi Schemes(1).

Following approval by the Court, Talison has lodged with the Australian Securities and Investments Commission an office copy of the Court orders approving the Tianqi Schemes, and accordingly the Tianqi Schemes have become Effective(2).

Tianqi's proposed funding arrangements (as outlined in Talison's news release on February 25, 2013) remain subject to certain conditions precedent to drawdown which Tianqi has confirmed are expected to be satisfied in advance of the deadline for Tianqi's payment of the aggregate Scheme Consideration.


The timetable for implementation of the Tianqi Schemes is as follows:

- March 13, 2013
Last day of trading of Talison Shares on the TSX

- March 19, 2013
Record date for determining Talison Securityholders entitled to receive the Scheme Consideration (5.00pm Perth time)

- March 25, 2013
Latest date for Tianqi to pay aggregate Scheme Consideration to Talison

- March 26, 2013
Implementation Date

- March 26, 2013
Commencement of payment of Scheme Consideration to Talison Securityholders

(1) The Tianqi Schemes contemplate that Windfield Holdings Pty Ltd, an Australian incorporated subsidiary of Chengdu Tianqi Industry (Group) Co., Ltd (together "Tianqi") will acquire the balance of the ordinary shares in the capital of Talison ("Shares") that it does not already own through a scheme of arrangement for cash consideration of C$7.50 ("Share Scheme") and 100% of the options to acquire Shares ("Options") through an option scheme of arrangement for cash consideration of C$7.50 per Option less the exercise price for that Option ("Option Scheme").

(2) As defined in the Tianqi Scheme Booklet.


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; anticipated timing and completion of the Tianqi Schemes; 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 and for the interim period ended December 31, 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.



Contacts:

Talison Lithium
Frank Wheatley, Executive Director
+1 (604) 985 0528

Talison Lithium
Nicole Smith, Investor Relations
+1 (416) 671 5939