Li3's Board of Directors is comprised of leading global thought leaders who have founded, operated and led numerous mining and mining related businesses.

Patrick Cussen, Chairman

Mr. Cussen joined Li3 as Chairman of the Board of Directors in December 2011. As Chairman, Mr. Cussen brings Li3 over 35 years of mineral and mining expertise in the mining industry, specifically in marketing and sales, project exploration, evaluation and technical and economic assessment. Mr. Cussen currently serves as Chairman of the Board of The Center for Copper and Mining Studies, Cesco, the Chilean think-tank on mining. Additionally, he is the President of Celta, a Chilean mining services company to the Latin American mining industry, advising global clients including, Antofagasta Minerals, Vale, Phelps Dodge (Freeport), Placer Dome (Barrick), Codelco, LS-Nikko Copper and Royal Gold. From 1972 – 1985, Mr. Cussen held numerous positions within Codelco, the worlds largest copper producer, culminating as Managing Director, Chile Copper Ltd., a London based Codelco subsidiary. From 1985 – 1990, Mr. Cussen was VP Sales, Empresa Minera de Mantos Blancos S.A. (subsidiary of Anglo American Chile). Mr. Cussen is also a former member of the board of the Chilean Copper Commission. Mr. Cussen is an industrial civil engineer and holds an MA in economics from the University of Chile.

Luis A. Saenz, CEO, Director

Mr. Saenz currently serves as our CEO and has been in this capacity since he joined the Li3 in October 2009. He has also served as a director on our Board of Directors since October 19, 2009. Mr. Saenz has over 18 years of experience in the mining industry. He is currently, and has been since July 21, 2008, the CEO and President and a Director of the publicly traded Loreto Resources Corporation (LRTC.OB). Mr. Saenz was formerly employed at Standard Bank ("Standard") with Standard's investment banking unit, Standard Amer-icas, Inc. Mr. Saenz joined Standard in New York in 1997 and relocated to Peru in 1998 to establish Standard's Peru representative office. While in Peru, Mr. Saenz led Standard's mining and metals organization effort in the Latin America region. Mr. Saenz returned to New York in 2007 to head Standard's mining and metals team in the Americas. Mr. Saenz previously worked for Pechiney World Trade in the base metals trading area before joining Merrill Lynch as Vice-President for Commodities in Latin America. Mr. Saenz also serves on the Board of Directors of Coronet Metals, a Vancouver based and Toronto listed advanced stage golg and silver exploration and mining company. Mr. Saenz graduated from Franklin and Marshall College in 1991 with a Bachelor of Arts degree in economics and international affairs.

Harvey McKenzie, Director

Mr. McKenzie joined the Li3 Board on June 29th, 2011. He is a Chartered Accountant and has been the CFO and corporate secretary of Anconia Resources Corp. (TSXV: ARA.V) since June 2011 and Eurotin Inc. (TSXV: TIN.V ) since May 2011 and the CFO and a director of Manor Global Inc., a capital pool company, since February 2005. Prior thereto, Mr. McKenzie served as the CFO of several Canadian publicly listed exploration, development and producing mining companies Including: Sino Vanadium Inc. from May 2010 to March 2011; Iberian Minerals Corp. from July 2007 to July 2009; Carlisle Goldfields Limited from September 2006 to July 2007 and Asian Mineral Resources Limited from July 2006 to January 2008. From August 2005 to July 2007, he was the CFO and a director of Card One Plus, Ltd., an electronic payment solutions company. He has also served as a consultant for several private companies and on the boards of several junior Canadian natural resource companies for over a decade. Prior thereto, he was in the financial services sector from 1987 to 1995; and from 1983 to 1987 he served as Director of Information Services of Ernst & Young, Chartered Accountants, in Toronto. From 1977 to 1983, he provided management and controllership functions for various financial institutions. From 1970 to 1977, he served as an Auditor for PricewaterhouseCoopers, Chartered Accountants. Mr. McKenzie obtained his Diploma in Alternate Dispute Resolution from the University of Toronto in 2001. He obtained his C.A. from the Institute of Chartered Accountants of Ontario in 1973 and his B.Sc. (Hons.) in Mathematics from the University of Toronto in 1970.

Hyundae Kim, Director

Mr. Kim joined the Li3 Board of Directors as POSCO's nominee in September 2011. Mr. Kim has various experiences in both the private and government sector. Mr. Kim worked in the Korean Central Government's Ministry of Commerce, Industry and Energy from 1994 until 2006 dealing with industrial policy, trade policy and international trade negotiations. From July 2006 to October 2009, he worked in the private sector as Managing Director for New Investment De-velopment and Strategy at ILJIN Materials, a Korean B2B company. In November 2009, he joined POSCO where he serves as a Director in the Growth and Investment Division. At ILJIN Materials and POSCO, his activities included reviewing numerous investment projects and in-vestment alternatives including mergers and acquisitions, joint ventures and organic growth pro-jects. Mr. Kim graduated with a Bachelor of Economics from Seoul National University in Korea and an MBA from INSEAD in France.

Patrick Campos, Director

Mr. Patricio Campos joined Li3's Board of Directors in September 2011. Mr. Campos brings Li3 valuable domain expertise having over 40 years experience in the mining industry, specifically in project exploration, evaluation, technical and economic preparation. His mineral and mining experience includes copper, gold and non metallic (coal, phosphate, limestone, nitrate and iodine, lithium brines) minerals, boron and potassium chloride projects. Mr. Campos is currently CEO of Algorta Norte SA's iodine Project in a partnership between ACF of Chile and Toyota of Japan. He is also a member of the Comité de Recursos Mineros del IIMCh (Mining Resources Committee of the Institute of Mining Engineers of Chile). Mr. Campos has also acted as a consultant in the evaluation of ore deposit reserves, copper, gold, iodine, nitrate, coal, phosphate, lithium salares, boran, potassium chloride and potassium sulphate projects. Prior to joining Li3, Mr. Campos previously led and supervised the construction of several plants for Sociedad Quimica y Minera de Chile (SQM), Inc., (NYSE: SQM), a multi-national global producer and seller of fertilizer's and specialty chemicals and as Project Director of Bifox Ltd. (phosphoric acid, grinding, crushing plant). Additionally, Mr. Campos has worked as a consultant spanning 30 years for companies such as Anglo American and SQM (Salar de Atacama Project), Falcon Mines, MAGSA, ACF Minera S.A., SCM Montevideo & Montecristo, and Sociedad Minera Isla Riesco. Mr. Campos has also actively participated in due diligence processes and negotiations for assets valued in excess of a Billion dollars including; Algorta Norte S.A.'s iodine project, SQM's Salar de Atacama and Antocuya copper projects, Codelco´s El Hueso gold mine and other exploration projects, Phelps Dodge's Safford project, among others. Mr. Campos is a former Professor of Mining Economy at the Mining Department, Universidad de Chile and a former Professor for due dilligence, Mining Depertment, Escuela de Ingenieria, Unversidad de Chile and Instituto de Indenieros de Minas de Chile. Mr. Campos received his Civil Mining Engineering degree from Universidad de Chile and Graduated in economic evaluation and project preparation, Bid-Odeplan-Universidad Católica de Chile.

Eduardo de Aguirre, Director

Mr. Eduardo de Aguirre joined Li3's Board of Directors in October 2011. Mr. de Aguirre brings Li3 over 35 years' experience in business development, project management and finance. Since 2007, Mr. de Aguirre has served as Legal Representative to General Dynamics Installation Services Inc., Chile who are building and commissioning radio telescopes for the ALMA Project for a total value of about $150MMUS. ALMA is the largest astronomical project in existence in the world, now in construction in the Atacama desert in Chile and will be fully operational in 2013. Its total cost is in the range of billions of dollars. In addition, since 2005, he has acted as Consultant and Sales Representative for Latin America to General Dynamics SATCOM Technologies Inc. Prior to that, from 2000 – 2011, he acted as a consultant for various Chilean entities including Target-DDI, AACA, ASL, Filmosonido and ViaSat. From 1989 – 2000, Mr. de Aguirre served as Regional Manager in South America and as General Manager of the Chilean Subsidiary of Scientific Atlanta, Inc. Mr. de Aguirre is a Civil Industrial Engineer and attended Engineering School at the Catholic University, Santiago, Chile.

Alan S. Fraser, Director

Mr. Alan S. Fraser joined the Li3 Board in September 2011 and brings Li3 over 24 years of ex-perience in Engineering Business Development specifically for Mining Projects, Mining Project Evaluations, Due Diligence Studies, Process Plants, Power Plants, Petrochemical Process Plants, Sulphuric Acid Plants, Infrastructure and Environmental Assessments. Currently, Mr. Fraser is the Managing Director and a shareholder of P3 Consultores S.A, a Project Manage-ment Services Company that provides risk administration to various clients including, Anglo American, Colahuasi and others. From 2001 to 2009, Mr. Fraser held numerous positions, cul-minating as the Director, Business Development for Fluor, Chile S.A. servicing global clients which include BHP Billiton Base Metals, Rio Tinto, Anglo American, Xstrata, Codelco, Antofa-gasta Minerals, Southern Peru Copper Corporation and General Atomics. While in this capacity, Mr. Fraser actively participated in numerous resource projects including; winning the Gaby SX-EW EPCM Project for Codelco, the (US$900 million), Pascua Lama EPC Project for Barrick Gold (US$2.3 billion), the Gold Mill EPCM Project for Minera Yanacocha (US$240 million), the Sulphide Leach EPCM Project of Minera Escondida Ltda. (US$780 million), the Ilo Smelter Modernization EPCM Project (US$400 million), and engineering studies for Codelco Minco 230 k tpd, the Salobo Feasibility Study for CVRD (Brazil), additional work for Newmont/Minera Yanacocha including the Gold Mill Project, the Collahuasi SX/EW expansion studies and material handling support, the Minera Escondida Water Supply Studies. He also provided detail en-gineering services for the expansion of Lomas Bayas (US$47 million) and the Feasibility Study of the El Morro project (US$1.5 billion). Mr. Fraser is a Civil Mining Engineer, Universidad de Chile, Santiago, Chile.

David G. Wahl, Director

Mr. Wahl was appointed to our Board of Direc-tors on February 18, 2010. From 2005 to the present, Mr. Wahl has been the Presi-dent and CEO of Southampton Associates - Consulting Engineers & Geoscientist, a private consulting concern specializing in mining and technical issues for corporate clients, financial institutions and governments. From May 2002 to the present, Mr. Wahl has served as a member of the Board of Directors of Temex Resources Corp. (TSX.V: TME, Frankfurt: TQ1), a precious metals and minerals company. From July 2006 to the present, Mr. Wahl has served as a member of the Board of Directors of Dumont Nickel, Inc., (TSX.V: DNI, Frankfurt: DG7), a holding company for mining properties in certain Canadian provinces. From August, 2006 to the present, Mr. Wahl has served as a member of the Board of Directors of Latin American Minerals Inc. (TSX.V: LAT), a mineral exploration company. Mr. Wahl also has served in a technical advisory capacity to certain financial institutions, government agencies, and national legal and accounting firms. Mr. Wahl is a graduate of the Colorado School of Mines and received a degree as an Engineer of Mines in 1968.