Mr. Nav Dhaliwal reports

LITHIUM ONE ANNOUNCES PROPOSED NAME CHANGE AND SHARE CONSOLIDATION

Lithium One Metals Inc.'s board of directors has recommended and authorized a change of the company's name to Black Spruce Exploration Inc. and a consolidation of the company's outstanding common shares on the basis of three preconsolidation common shares for one postconsolidation common share. The name change and consolidation remain subject to TSX Venture Exchange approval. The effective date and further details of the name change and consolidation will be disclosed in a subsequent news release following receipt of all requisite approvals.

The company also announces that it has cancelled incentive stock options held by non-insiders of the company for the purchase of an aggregate of 2,358,000 common shares at varying exercise prices and expiry dates.

About Lithium One Metals Inc.

Lithium One Metals is a Canadian exploration company specializing in the acquisition and development of high-potential lithium properties in Ontario and Quebec.

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