News
2006





2006


LITHIC INCREASES FINANCING TO $3.9 MILLION


December 20, 2006

Lithic Resources Ltd. (LTH-TSX Venture) (the “Company”) is pleased to announce that due to demand, it has increased the non-brokered private placement previously announced in Stockwatch on December 1, 2006, from $3.5 million to up to $3.9 million. The private placement will now consist of up to 9.75 million units at $0.40 per unit, each unit consisting of one common share of the Company and one-half of one non-transferable share purchase warrant.  Each full warrant will entitle the placee to acquire one additional common share of the Company for a period of twenty-four months at an exercise price of $0.60 during the first year and an exercise price of $0.80 during the second year.  The units issued on the offering will be subject to a four-month hold period.

The net proceeds of the private placement will be used to carry out a major program of drilling at the Company’s advanced Crypto zinc project in Utah as well as for a reserve for acquisitions and general working capital.

Portions of this private placement are subject to a finder's fee in accordance with TSX Venture Exchange policy.

The placement is subject to acceptance by the TSX Venture Exchange.

For further information please contact Chris Staargaard at 604-687-7211 or visit www.lithicresources.com.

LITHIC RESOURCES LTD.
“C.F. Staargaard”
                                               
C.F. Staargaard
President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Not for distribution to the United States News Wire Service or for dissemination in the United States.