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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2010) - Salares Lithium Inc. (TSX VENTURE:LIT) (the "Company") is pleased to provide an update on the Salares 7 project in Region III, Chile (the "Project").

Project Update

The Company is pleased to report that it has signed a 3,000 metre diamond drill contract with Terraservices of Santiago, Chile. The program is designed to test selected parts of the interpreted brine bearing horizon (reservoir rock) at the Salar de la Isla, a brine lake 26km long and on average 6km wide. The depth of the known interpreted brine bearing horizon is less than 300 metres. Aquaconsult of Santiago, Chile, a hydrological consulting firm, will assist the Company and Terraservices with the drill program protocol and sampling.

Drilling will begin once the base camp near to the Salar de la Isla is completed. P.K. Mendies of Santiago, Chile, has been contracted to construct and be responsible for the 25-30 person winter camp. Completion of the camp was delayed as a result of unusually heavy snowfall in the last two weeks which did not allow for the delivery of materials and winterized containers.

As a result of a break in the snowfall and as of yesterday, our local Chilean partners have recovered their equipment in the area and have now begun clearing the road of snow and finalizing access to the camp. Once access has been restored, the camp will be completed and the drill program initiated.

"While we are all frustrated by the weather delay, management is determined to advance the exploration program as fast as is safely possible. Both the General Manager (Chile) and the V.P. Exploration will be onsite early next week to oversee the camp construction and get the drilling phase initiated immediately thereafter," commented Todd Hilditch, CEO.

Salares Lithium Inc.

Salares Lithium Inc. is a lithium explorer in Chile that controls the 'Salares 7' lithium project made up of seven salares (brine lakes that are prospective for sub-surface lithium and potassium) and the surrounding concessions in Region III, Chile. Five of the seven salares are clustered within 155 kilometres and are 100% owned by the Company and its Chilean partner.

Forward-Looking Statements

Certain of the statements made and information contained herein are "forward-looking statements" within the meaning of Canadian securities legislation or "forward-looking information" within the meaning of the Ontario Securities Act and the Alberta Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking statements and forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.