TIDMCRHL

RNS Number : 2361E

Creat Resources Holdings Ltd

28 May 2012

28 MAY 2012

Creat Resources Holdings Limited

("CRHL" or "the Company") Galaxy Update - First Sale of Lithium Carbonate from Jiangsu

Creat Resources Holdings Limited ("CRHL") (AIM: CRHL) is pleased to announce that ASX-listed Galaxy Resources Limited ("Galaxy"), in which CRHL is a major shareholder,announced the sale of the first batch of lithium carbonate from its wholly-owned Jiangsu Lithium Carbonate Plant in China. The lithium carbonate was produced using spodumene concentrate from Galaxy's wholly-owned Mt Cattlin mine in Western Australia.

Galaxy Managing Director, Iggy Tan, said: "This first sale represents the first cash flow from the processing of Mt Cattlin concentrate into lithium carbonate at the Jiangsu operation and is another step forward with our business plan of developing Galaxy as a fully integrated lithium company."

Galaxy has long term off take framework agreements signed with 13 major cathode producers in China and Mitsubishi Corporation of Japan (5,000 tonnes per annum) for 100% of Jiangsu's 17,000 tonnes per annum design capacity.

Galaxy announcement in full:

http://www.galaxyresources.com.au/documents/DocGXY233-GalaxySellsFirstLithiumCarbonateFromJiangsu.pdf

For further information please visit www.creatresources.com or contact:

 
 Creat Resources Holdings Limited      Tel: +61 3 6216 2700 
 Morris R. Hansen, Company Secretary 
 
 Daniel Stewart & Company Plc              Tel: +44 20 7776 
  Paul Shackleton                                      6550 
 Matt Wilson

About Creat Resources Holdings Limited

CRHL is an early stage mining exploration company holding 4 Exploration Licences and 3 Retention Licences covering 109 square kilometres around the mineral rich Zeehan area in western Tasmania. CRHL also has a strategy of acquiring assets in interesting resources companies that complement or supplement the Company's exploration activities. CRHL is a major shareholder of Galaxy Resources Ltd ("Galaxy") with an interest of 10.47% shareholding. Galaxy is an Australian-based integrated lithium mining, chemicals and battery company listed on the Australian Securities Exchange (Code: GXY) and is an S&P/ASX 300 Index Company. Galaxy plans to be one of the world's largest lithium carbonate producers and is positioning itself to be involved in every step of the lithium supply chain.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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