Talison Lithium Retains ICR, LLC to Provide Investor Relations Services

PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 05/17/11 -- Talison Lithium Limited ('Talison') (TSX: TLH) announced today that it has retained ICR, LLC, as its investor relations and corporate communications firm.

Founded in 1998, ICR is a leading financial communications consulting firm that provides counsel from senior professionals with specific industry expertise. ICR sets a new standard for financial communications with a business model driven by deep capital markets expertise provided by a team of former Wall Street and corporate professionals, including senior sell-side analysts, portfolio managers and investment bankers. The firm represents approximately 275 corporate clients, including recognized resource names such as Molycorp Minerals.

Gary Dvorchak, CFA, Senior Vice President at ICR, commented, 'We are very excited to work with the world's largest producer of lithium. Talison is a pure play producer in a mineral market that is poised for growth in the years ahead. Talison will benefit from increasing its exposure to major financial institutions, including sell-side analysts and portfolio managers focused on growth-oriented companies selling into exciting technology end markets. We believe this company creates a compelling investment proposition for the resources investor looking for a high quality, pure play on growth markets. We are excited to be a partner in Talison's success.'

Peter Oliver, CEO of Talison, said, 'We are pleased to be partnering with ICR in our investor relations efforts. We believe ICR's relationships with, and insights into, the capital markets will be beneficial to us as we enhance our outreach to the investment community. As our business continues to grow, we look forward to working closely with ICR to ensure that we are effectively communicating Talison's strategy, milestones, and successes to the proper Wall Street audience in order to maximize shareholder value.'

Earnings Conference Call Reminder

Talison will host a conference call to discuss the financial results for the three months ended March 31, 2011 this morning, Tuesday, May 17, 2011 at 9:00 am Eastern Time. Teleconference call details are as follows:

Toll Free: North America - 1 (800) 706-7748

Toll Free: International - 1 (617) 614-3473

Participant Code: 98998600

Chairperson: Peter Oliver, Chief Executive Officer and Managing Director

Replay

Available from: May 17, 2011, 1:00 PM

Available to: May 19, 2011

North America Dial In: 1 (888) 286-8010

International Dial In: 1 (617) 801-6888

Passcode: 13464688

The call is also being webcast by Thomson Reuters and can be accessed at Talison's website or at www.earnings.com.

About Talison Lithium

Talison is the largest global producer of lithium. Talison mines and processes the lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. In addition, Talison is exploring for lithium at the Salares 7 lithium project made up of seven salars located in Chile. Talison has an extensive, well established global customer network and a leading position in the growing Chinese market.

About ICR

ICR is a leading financial communications firm specializing in investor relations and corporate communications. Established in 1998, ICR represents more than 275 companies and has significant industry expertise and relationships in the resources sector. ICR maintains offices in Norwalk, CT, New York, Los Angeles, San Francisco, Boston and Beijing and is one of the industry's fastest growing consultancies. www.icrinc.com.

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 interim consolidated financial statements of Talison and the related notes thereto as at and for the three and nine month interim periods ended March 31, 2011 dated May 11, 2011 and under the heading 'Risk Factors' in the annual information form of Talison for the year ended June 30, 2010 dated January 12, 2011 and in the short form prospectus of Talison dated February 8, 2011, 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:

ICR, LLC

Gary T. Dvorchak, CFA

Senior Vice President

Investor Relations

1 (310) 954-1123
Gary.Dvorchak@icrinc.com


Talison Lithium Limited

Todd Hilditch

1 (604) 443-3831
todd.hilditch@talisonlithium.com


Talison Lithium Limited

Frank Wheatley

Executive Director, Corporate Affairs and Strategy

1 (604) 985-0528
Frank.Wheatley@talisonlithium.com
www.talisonlithium.com