Technical Report On The Sal De Vida Lithium Project Salar De Hombre Muerto Catamarca, Argentina

TECHNICAL REPORT ON THE SAL DE VIDA LITHIUM PROJECT
SALAR DE HOMBRE MUERTO CATAMARCA, ARGENTINA

REPORT FOR NI 43-101 PREPARED ON BEHALF OF LITHIUM ONE INC.
2700-130 Adelaide Street West Toronto, Ontario, M5H 3PS REPORT FOR NI 43-101

BY JOHN HOUSTON CONSULTING HYDROGEOLOGIST BSc., MSc., C.Geol., FGS, FCIWEM & JEFF JAACKS CONSULTING GEOCHEMIST BSc., PhD., CPG11249

March 5, 2010TABLE OF CONTENTS (numbers refer to NI43-101 Items) 3. SUMMARY ................................................................................................................................................ 6 4. INTRODUCTION ........................................................................................................................................ 8 4.1 Authorship and Terms of Reference............................................................................................. 8 4.2 The uniqueness of brine prospects ............................................................................................... 8 5. RELIANCE ON OTHER EXPERTS ................................................................................................................. 9 6. PROPERTY LOCATIONAND DESCRIPTION .............................................................................................. 10 Location ....................................................................................................................................... 10 6.1 6.2 Minas Maktub............................................................................................................................. 10 6.3 Minas De La Fuente..................................................................................................................... 11 6.4 Cateo Vittone .............................................................................................................................. 11 6.5 Environmental Liabilities............................................................................................................. 12 6.6 Permits ........................................................................................................................................ 12 7. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ...................... 13 7.1 Accessibility, Local resources andInfrastructure........................................................................ 13 7.2 Physiography ............................................................................................................................... 14 7.3 Climate ........................................................................................................................................ 16 7.4 Vegetation................................................................................................................................... 18 8. HISTORY.................................................................................................................................................. 19 9. GEOLOGICAL SETTING ............................................................................................................................ 20 9.1.Regional....................................................................................................................................... 20 9.1.1 Jurassic-Cretaceous………………………………………………………………………………………….……………..20 9.1.2 Paleogene............................................................................................................................ 20 9.1.3 Neogene.............................................................................................................................. 21 9.1.4 Late Neogene-Quaternary .................................................................................................. 21 9.2 The Hombre Muerto Basin.......................................................................................................... 22 10. DEPOSIT TYPE...