Pan Global and Lithium Li are working with Bosnian authorities to clarify existing legislation regarding the continuance of exploration licences through to mining licences, even though legal advisors in the mining ministry could not point to a single instance when explorers were denied the right to go on to mine.

In Serbia, ground based geological, geophysical and geochemical exploration work has continued on the licences subject to the joint venture. Since the Company’s News Release of March 28^th announcing the commencement of a 6,000m program of reconnaissance drilling, holes have been completed in the Valjevo licence (2 holes), the Ljig licence (2 holes), the Jadar West licence (1hole), the Kosjeric licence (1 abandoned hole), and the Radusa licence (1 hole), for a total of 2,822 meters. Assays from the drilling campaign undertaken to date this year are awaited, but are expected to be returned in the next few weeks. Drilling has now been suspended until the end of August, due to the need to incorporate assays prior to selecting the next sites, and the importance of focusing on only the highest priority targets. Full details of the recently drilled holes will be released once assays have been received.

The technical information provided in this news release was reviewed and approved by Robert. W. Baxter (FAusIMM), a director of the Company and a qualified person for the purposes of National Instrument 43-101.

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