Lithium One Inc.

Galaxy Resources Limited (ASX:GXY) following the successful merger with Lithium One Inc (CVE:LI) is pleased to detail its global lithium resource base and assets in four continents world wide.

Galaxy Resources Limited (ASX:GXY) is pleased to advise that the plan of arrangement with Lithium One Inc (CVE:LI) has been successfully completed. Following the completion of the Arrangement, an application was filed to have the Lithium One Common Shares de-listed from the TSX-V.

Galaxy Resources Limited (ASX:GXY) is pleased to advise that on 26 June 2012 the Ontario Superior Court of Justice granted the final order in relation to the plan of arrangement effecting the merger between Galaxy and Lithium One
Inc (CVE:LI).

Galaxy Resources Limited (ASX:GXY) advises it has agreed with Lithium One Inc (CVE:LI) to extend the redemption date on exchangeable shares ("Exchangeable Shares") issued under Galaxy's proposed merger ("Merger Proposal") with Lithium One, from three years to five years.

Galaxy Resources Limited (ASX:GXY) is pleased to announce that an initiation of coverage company report has been completed by EL & C Baillieu Research, on Galaxy following the Company's proposal to merge with Lithium One Inc (CVE:LI).

Galaxy Resources Limited (ASX:GXY) is pleased to advise that the Special Meeting of Securityholders of Lithium One Inc (CVE:LI) will be held on June 18, 2012. Attached is the Notice of Special Meeting and Management Proxy Circular ("NOM") where resolutions are to be voted on by Lithium One Securityholders relating to the merger of Galaxy and Lithium One as announced to the ASX on March 30, 2012.

Galaxy Resources Limited (ASX:GXY) is pleased to announce it has raised A$2.25 million via a Share Purchase Plan ("SPP"), which was launched in conjunction with a A$30 million Placement ("Placement") to support the Company's recommended merger ("Proposed Merger") with Lithium One Inc (CVE:LI) ("Lithium One").

Galaxy Resources Limited (ASX:GXY) is pleased to announce that geochemical analysis from channel samples taken at its 20% owned James Bay Pegmatite Project ("James Bay") in Quebec has revealed high lithium oxide grades (Li2O) with low impurity levels.

Galaxy Resources Limited (ASX:GXY) is pleased to announce that in respect of its proposed merger ("Proposed Merger") with Lithium One Inc (CVE:LI) and following the announcement of Galaxy's capital raising, Lithium One's Board of Directors has maintained its recommendation to the holders of Lithium One securities that they vote in favour of the Proposed Merger. Lithium One has received an updated opinion from BMO Capital Markets (financial advisors to Lithium One), that, as of the date of such opinion and subject to the assumptions, limitations and qualifications stated in such opinion, the consideration to be received by the Lithium One shareholders pursuant to the terms of Proposed Merger is fair, from a financial point of view, to such shareholders.

Galaxy Resources Limited (ASX:GXY) is pleased to announce it has successfully raised A$30 million (before costs) via a Placement ("Placement") to institutional and sophisticated investors. The Placement will support Galaxy's recently announced proposed merger ("Proposed Merger") with Lithium One Inc (CVE:LI).