Lithic Closes $260,000 Non-Brokered Private Placement

Lithic Resources Ltd. 912-510 West Hastings Street Vancouver, B.C. Canada V6B 1L8

Telephone: 1-604-687-7211 Fax: 1-604-648-9578 E mail: [email protected]

News Release 2011-1 Listed on the TSX Venture Exchange: LTH January 27, 2011

LITHIC CLOSES $260,000 NON-BROKERED PRIVATE PLACEMENT

Lithic Resources Ltd. (LTH-TSX Venture) (the “Company”) is pleased to announce that it has closed the $260,000 financing previously announced on December 21, 2010 and December 23, 2010. A total of 3.25 million units were sold at a price of 8 cents per unit for gross proceeds of $260,000. Each unit consists 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 at a price of 15 cents for a period of 18 months after the closing date.

A finder’s commission consisting of 210,000 finder’s units was paid in connection with the placement. Each finder’s unit consists of one common share of the company and one half of one non-transferable share purchase warrant entitling the placee to acquire one additional common share of the company at a price of 15 cents for a period of 18 months after the closing date.

All units issued on the offering will be subject to a four-month hold period expiring on May 28, 2011. The proceeds of the private placement will be used for general working capital.

LITHIC RESOURCES LTD.

“C.F. Staargaard”

_____________________________ C.F. Staargaard President and CEO

FURTHER INFORMATION:

Chris Staargaard President/CEO Phone: (604) 687-7211 Email: [email protected] Website: www.lithicresources.com

“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”