Rodinia Lithium Inc. Closes CDN$11.5 Million Bought Deal Equity Financing

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2011) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION TO THE UNITED STATES

Rodinia Lithium Inc. (TSX VENTURE:RM)(OTCQX:RDNAF) ("Rodinia" or the "Company") is pleased to announce that it has closed its previously announced offering, sold by a syndicate of underwriters on a bought deal basis led by Dundee Securities Ltd., and including Byron Securities Limited, Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (collectively, the "Underwriters"). The financing consisted of 19,837,500 units of the Company (the "Units") sold at $0.58 per Unit for gross proceeds of $11,505,750, including the exercise of the Underwriters' over-allotment option for 2,587,500 Units. Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one Common Share at a price of $0.75 any time up until 5:00pm (Toronto time) on August 8, 2012.

The net proceeds raised under the offering will be used for the advancement of the Company's Salar de Diablillos lithium brine projects, the Clayton Valley lithium brine project and for general corporate and working capital purposes.

In consideration for their services, the Underwriters received a cash commission equal to $679,957 and 962,026 compensation warrants that will entitle them to acquire an equal number of Common Shares at a price of $0.58 per share on or before August 8, 2012.

In addition, the Company announces that it has granted an aggregate of 1,320,000 stock options of the Company (the "Options") to officers, directors and consultants of the Company. The Options shall have an exercise price of $0.58 and shall expire on February 8, 2016. The Options remain subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and remain subject to the statutory four month hold period until June 9, 2011.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares or Warrants in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Rodinia Lithium Inc.:

Rodinia Lithium Inc. is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium‐ion batteries as well as glass ceramics, greases, pharmaceuticals etc.

Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium brine producer in North America, and its Diablillos project in Salta, Argentina.

Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com. Follow us on Twitter: http://twitter.com/RodiniaLithium

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

Forward Looking Information

This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to, receipt of final TSX Venture Exchange approval for the Offering, mineralization projections, future exploration priorities, estimates and costs, projected capital and operating expenditures, future exploration plans and techniques, estimates regarding the timing and costs of exploration, mineral prices and future exploration plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified by the Company in the prospectus and the annual information form of the Company, which is available under the SEDAR profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions are based on extensive technical and scientific analysis conducted by the management of the Company, the results of drill program and other exploration, the analysis of external consultants and information obtained by the Company from third parties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.


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.

For more information, please contact

Investor Cubed Inc.
Neil Simon
+1 (647) 258-3311
or
Aaron Wolfe
Vice-President, Corporate Development
+1 (416) 309-2696

For more information on Mining in Argentina, active companies, projects and operating mines, statistics and much more, please visit our website: http://www.argentinamining.com/