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

“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.

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