Pan American Lithium Corp. Announces the Results of Depth Soundings on Its Laguna Verde Project

Pan American Lithium Corp. (TSX VENTURE:PL) ("Pan American" or the "Company") is
pleased to announce that it has received initial results of a bathymetric survey
conducted on its wholly-owned Laguna Verde Project located in Atacama Region
III, Chile. This survey determined the depth of the lake at 17 sample points and
is part of an ongoing detailed sampling program to determine a National
Instrument 43-101 compliant resource estimate, expected to be finalized by the
end of the first calendar quarter, 2010. The deepest sounding taken was 60
meters and the average mean depth of the lake is estimated to be 33 meters. At
each point a brine sample was taken at minimum depths of 0.5 meters. The UTM
(Universal Trans Mercator) grid coordinates and the lake bottom depths are as
follows:




                (COORDINATES UTM SIST. WGS 84)
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POINT            NORTHING             EASTING      DEPTH (meters)
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1                 7026100              555100                 30
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3                 7025000              553800                 10
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4                 7025400              554000                 35
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5                 7025900              554300                 42
----------------------------------------------------------------
6                 7026600              554600                 36
----------------------------------------------------------------
7                 7026900              554900                 38
----------------------------------------------------------------
8                 7026900              554000                 30
----------------------------------------------------------------
10                7025800              552500                 35
----------------------------------------------------------------
11                7026200              552600                 32
----------------------------------------------------------------
12                7026700              553000                 60
----------------------------------------------------------------
13                7027100              553300                 50
----------------------------------------------------------------
14                7027600              553500                 49
----------------------------------------------------------------
16                7026400              552100                 36
----------------------------------------------------------------
17                7026200              551200                 34
----------------------------------------------------------------
18                7026500              551500                 40
----------------------------------------------------------------
19                7027300              551900                 32
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22                7027100              550700                 35
----------------------------------------------------------------



In light of the preliminary results of this survey, Pan American intends to
focus its sampling program to systematically collect brine waters of the lake at
various depths, at the same coordinates, using specialized sampling equipment.
These samples will be submitted for analysis to an ISO-certified laboratory.
Concurrently, the Company will continue to take depth measurements of the lake
in order to confirm an estimate of its volume. The Company expects to deliver
the results of this phase of the scoping study sometime during the first
calendar quarter of 2010.


The Laguna Verde Project is intended to exploit the lithium and potassium
bearing brines contained in a 15 square kilometre surface lake in the foothills
of the Chilean Andes. Pan American is conducting this initial sampling as part
of its resource estimate and initial scoping study at Laguna Verde. Because
Laguna Verde is an above-ground lake, its brine waters can be readily sampled
and represents a potential resource that may be quickly calculated, with a
production cost that could be the lowest among other sources of lithium.


Pan American also has an existing portfolio of rights in nine salars in Region
III of Chile (including Laguna Verde), covering a cumulative area in excess of
11,500 hectares and the option to acquire an interest in a geothermal brine
project in Mexico.


The Qualified Person responsible for the technical content of this news release
is John Hiner, L.P.Geo., who has reviewed and approved the details contained
herein.


On Behalf of the Board,

PAN AMERICAN LITHIUM CORP.

Andrew A. Brodkey, President and CEO

This press release contains projections and forward-looking information that
involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements based on
current expectations involving a number of risks and uncertainties and are not
guarantees of future performance of the Company such as the statement that the
Company: (i) intends to conduct depth measurements of the lake to determine an
estimate of depth; (ii) expects to deliver the results of this phase of the
scoping study sometime after the first calendar quarter of 2010; and (iii) the
project is intended to exploit the lithium and potassium bearing brines
contained in a 15 square kilometre surface lake; and (iv) believes that the
brine waters can be readily sampled and represents a potential resource that may
be quickly calculated, with a production cost that could be the lowest among
other sources of lithium. There are numerous risks and uncertainties that could
cause actual results and the Company's plans and objectives to differ materially
from those expressed in the forward-looking information, including: (i) adverse
market conditions; (ii) a decrease in demand for and price of lithium; (iii)
general uncertainties with respect to mineral exploration in general; (iv)
changes in the political or regulatory environment in Chile; and (v) inability
to raise required financing or execute the Company's business plan. Actual
results and future events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on the dates they
are made and are expressly qualified in their entirety by this notice. Except as
required by law, the Company does not intend to update these forward-looking
statements.
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