Galaxy Resources Limited Stock Market Press Releases and Company Profile
Galaxy Resources Limited (ASX:GXY) Sells First Tantalum Concentrate from Mt Cattlin
Galaxy Resources Limited (ASX:GXY) Sells First Tantalum Concentrate from Mt Cattlin

Perth, Mar 16, 2011 AEST (ABN Newswire) - Galaxy Resources Limited (googlechartASX:GXY) (googlechartPINK:GALXF) is pleased to announce it has delivered the first shipment of tantalum concentrate from its Mt Cattlin mine in Western Australia, under its five-year sales agreement with Global Advanced Metals Pty Ltd ("GAM"). The shipment of 28 tonnes had an average grade of 2.3% tantalum pentoxide.

While Galaxy is focused on mining and processing of lithium ore at Mt Cattlin, tantalum ore is coincidently mined during that process. The tantalum ore is subsequently processed into tantalum concentrate by-product.

Galaxy Managing Director, Iggy Tan, advised that the Company was pleased to record its first sale of tantalum concentrate as the ramp up of Mt Cattlin progresses.

"The Company has also secured the MV Ocean Flower for its first shipment of spodumene to China for the end of March 2011".

About Galaxy Resources Limited

Galaxy Resources ASX:GXYGalaxy Resources Limited (ASX:GXY) (OTCMKTS:GALXF) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada.

Galaxy is advancing plans to develop the Sal de Vida lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a low cost brine-based lithium carbonate production facility.

Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.

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Contact

Iggy Tan
Managing Director
Galaxy Resources Limited
Tel: +61-8-9215-1700
Email: ir@galaxylithium.com
http://www.galaxylithium.com



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