TORONTO, Jan. 21, 2014 /CNW Telbec/ – Sirocco Mining Inc. (“Sirocco“) (TSX: SIM) and Canada Lithium Corp. (“Canada Lithium“) (TSX: CLQ) (U.S. OTC: CLQMF) jointly announce that the new proposed name for Canada Lithium upon
completion of the arrangement transaction between Sirocco and Canada
Lithium (the “Arrangement“) will be “RB Energy Inc.” (including the French form of such name,
“Énergie RB Inc.”).

As set out in the notice of meeting and management information circular
dated December 24, 2013 of Canada Lithium (the “Circular“), at the special meeting of shareholders of Canada Lithium to be held
on January 28, 2014 (the “CLQ Meeting“), such shareholders will be asked to consider and if thought fit
approve, with or without variation, a special resolution authorizing
and approving a name change of Canada Lithium in connection with the
completion of the Arrangement. The Circular indicates that the proposed
name is “Li-On Minerals Inc.” Canada Lithium has however determined
that it is in the best interests of Canada Lithium that the proposed
name to be presented to its shareholders at the CLQ Meeting instead be
“RB Energy Inc.” (including a French form of such name, “Énergie RB
Inc.”). Canada Lithium will not be mailing new forms of proxy or voting
instruction forms and shareholders are advised that a vote for the
special resolution authorizing and approving a name change to “Li-On
Minerals Inc.” will be a vote for a name change to “RB Energy Inc.”
(including “Énergie RB Inc.”).

Further information regarding the Arrangement, including the matters to
be considered at the special meetings of shareholders of Sirocco and
Canada Lithium to be held in connection with the Arrangement, is
contained in the management information circulars dated December 24,
2013 that Sirocco and Canada Lithium have sent to their respective
shareholders in connection with their respective special meetings. Such
management information circulars are also available on SEDAR at www.sedar.com. Sirocco and Canada Lithium shareholders are respectively urged to
carefully read the Sirocco and Canada Lithium management information
circulars as they contain additional important information concerning
the Arrangement.

The information agent for the Arrangement is Kingsdale Shareholder
Services Inc. (“Kingsdale“). Questions and requests for assistance, including requests for
additional information, may be directed to Kingsdale at 1-866-581-0510
or by email at: contactus@kingsdaleshareholder.com.

About Sirocco

Sirocco is a Canadian company which produces iodine from its Aguas
Blancas mine in northern Chile. In addition, Sirocco has exploration
interests in West Africa and is actively assessing other opportunities
in the resource sector. For more information regarding Sirocco, please
refer to Sirocco’s public filings available at www.sedar.com and
www.siroccomining.com including, in particular, Sirocco’s Management’s
Discussion and Analysis for the year ended December 31, 2012, its
Annual Information Form for the year ended December 31, 2012 and its
Management’s Discussion and Analysis for the three-month and nine-month
periods ended September 30, 2013.

About Canada Lithium

Canada Lithium holds a 100% interest in the Qu bec Lithium Project near
Val d’Or, the geographical heart of the Qu bec mining industry. It has
completed construction and is in the commissioning phase of an open-pit
mine and on-site processing plant with estimated capacity to produce
approximately 20,000 tonnes of battery-grade lithium carbonate
annually. For more information regarding Canada Lithium, please refer
to Canada Lithium’s public filings available at www.sedar.com and
www.canadalithium.com including, in particular, Canada Lithium’s
Management’s Discussion and Analysis for the year ended December 31,
2012, its Annual Information Form for the year ended December 31, 2012
and its Management’s Discussion and Analysis for the three-month and
nine-month periods ended September 30, 2013.

Forward-Looking Statements

Certain information contained in this news release, including any
information relating to the proposed Arrangement and each issuer’s
future financial or operating performance may be deemed
“forward-looking”. These statements relate to future events or future
performance and reflect each issuer’s expectations regarding the
Arrangement, and the future growth, results of operations, business
prospects and opportunities of Sirocco, Canada Lithium and the combined
company. These forward-looking statements also reflect each issuer’s
current internal projections, expectations or beliefs and are based on
information currently available to Sirocco or Canada Lithium,
respectively. In some cases forward-looking information can be
identified by terminology such as “may”, “will”, “should”, “expect”,
“intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”,
“potential”, “scheduled”, “forecast”, “budget” or the negative of those
terms or other comparable terminology. Assumptions upon which such
forward looking information regarding completion of the Arrangement and
the related name change of Canada Lithium (the “Name Change“) are based include that Sirocco and Canada Lithium will be able to
satisfy the conditions to the Arrangement and the Name Change, that the
required approvals will be obtained from the shareholders of each
issuer, as applicable, that all third party regulatory and governmental
approvals to the Arrangement and the Name Change will be obtained and
all other conditions to completion of the Arrangement and the Name
Change will be satisfied or waived. Although Sirocco and Canada Lithium
believe that the forward-looking information contained in this news
release is based on reasonable assumptions, readers cannot be assured
that actual results will be consistent with such statements.
Accordingly, readers are cautioned against placing undue reliance on
forward-looking information. Sirocco and Canada Lithium expressly
disclaim any intention or obligation to update or revise any
forward-looking information, whether as a result of new information,
events or otherwise, except in accordance with applicable securities
laws.

SOURCE Canada Lithium Corp.