Canada Stocks-tsx Drops To Near Three-week Low As U.s. Gov’t Stays Shut

“The market would suggest that they think this would ultimately get resolved,” said Paul Hand, managing director at RBC Capital Markets. “But minute-by-minute people do feel uncertainty.” The Toronto Stock Exchange’s S&P/TSX composite index closed down 103.88 points, or 0.81 percent, at 12,735.12, after reaching 12,700.02, its lowest since Sept. 13. About 254 million shares changed hands on Thursday, compared with an average daily volume of 304 million shares in September, according to market operator TMX Group. The TSX will likely make some gains and end the year around 13,400 as the U.S. debt woes ease and sentiment for Canadian equities improves, Hand said. All of the 10 main sectors on the index were in the red on Thursday. Suncor Energy Inc lost 1.5 percent to C$36.25 and had the biggest negative influence on the index. Canadian Natural Resources Ltd gave back 1.4 percent to C$31.78. The materials sector, which includes mining stocks, slipped 1.4 percent. Potash Corp was down 0.6 percent at C$33.69, and Teck Resources Ltd declined 2 percent to C$27.32.

Canada Lithium Announces Project Update

The Company holds a 100% interest in the Quebec Lithium Project near Val d’Or , the geographical heart of the Quebec 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. Metallurgical tests have produced battery-grade lithium carbonate samples. A five-year off-take agreement for a minimum of 12,000 tonnes per year was recently signed with Tewoo-ERDC, one of China’s largest commodities traders. A second off-take for up to 5,000 tonnes per year was recently signed with Marubeni Corp., a major Japanese commodities trading company. Lithium carbonate is used in lithium-ion batteries that power consumer electronics (laptops, tablets, etc.), power-grid storage facilities and electric and hybrid vehicles. For more information regarding the Company, please refer to the Company’s public filings available at www.sedar.com and www.canadalithium.com including, in particular, the Company’s Management Discussion and Analysis for the year ended December 31, 2012 and its Annual Information Form for the year ended December 31, 2012 and the Financials and MD&A for the three-month and six-month periods ended June 30, 2013 . The Company trades under the symbol CLQ on the TSX and on the U.S. OTCQX under the symbol CLQMF. Cautionary Statement Regarding Forward-Looking Information This press release contains “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking information is based upon the Company’s beliefs, estimates and opinions as at the date of this press release, which the Company believes are reasonable, but no assurance can be given that these will prove to be correct. Furthermore, the Company undertakes no obligation to update or revise forward-looking information contained herein if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law. Forward-looking information relates to future events or to future conditions, performance or results of operations and reflects current expectations or beliefs regarding such matters including, but not limited to, information or statements with respect to: (i) the amount of mineral resources; (ii) exploration, development and production activities, including information regarding the potential mineralization and resources; (iii) the amount of future output over any period; (iv) net present value and internal rates of return of the mining operation; (v) assumptions relating to capital costs, operating costs and other cost metrics; (vi) assumptions relating to gross revenues, operating cash flow and other revenue metrics; (vii) assumptions relating to future price and demand for lithium and other macroeconomic metrics; (viii) exploration and development plans, including anticipated costs and timing thereof, time frames for completion, and anticipated time to production; (ix) mine potential and expected mine life; and * sources of and anticipated financing requirements. All information other than matters of historical fact may be forward-looking information. In some cases, forward-looking information can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “project”, “estimate”, “assume”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “strategy”, “goal”, “may”, “could”, “would”, “might”, or “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

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