Li3 Energy, Inc. acquired 100% of the Loriscota, Suches, and Vizcachas Projects (the "Projects") respectively located in the Departments of Puno, Tacna and Moquegua, Peru. The projects are prospective of lithium and potassium deposits and are comprised of nine claims that cover a total area of 7,900 hectares (approximately 19,500 acres) at an elevation of 4,300 meters (approximately 14,000 feet) above sea level. The claims are not covered by any restrictions on mining, as they are located in areas designated open to exploration and mining according to Peruvian Ministry of Energy and Mines information.

The Projects have undergone preliminary sampling and have been found to contain similar values to regional deposits in other more advanced South American operations that are currently under development for commercial production. The mineralization is similar to salt deposits in evaporative lakes that are recognized producers of lithium.

The Projects are in newly reinterpreted areas previously studied by the Peruvian Ministry of Energy and Mines in 1981, whose survey concluded that the Projects contain lithium and high potassium values and that they do not contain mapped wildlife or archeological reserves, creating no restrictions on lithium production potential.