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February 25, 2010, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or the "Company”) is pleased to announce it has entered into an Option Agreement to allow First Lithium Resources Inc. (MCI-TSX:V) to earn an 80% interest in the Teels lithium prospect, located approximately 87 kilometers (54 miles) northwest of the Clayton Valley lithium brine operation in southern Nevada. The prospect comprises 120 placer claims (2,400 acres - 3.7 square miles) that cover approximately the western two-thirds of the Teels Marsh, a closed desert basin that was confirmed as having anomalously high Li spring waters in a reconnaissance water sampling program by the Company in 2009 (see Ashburton NR, January 11, 2010).
In order to maintain the Option in good standing and to earn an 80% interest in the Property, First Lithium Resources shall make cash payments, issue common shares to the Optionor and incur Exploration Expenditures by the following deadlines:
President and CEO Michael England states: “We are pleased to bring First Lithium into this project . With a company focused on lithium resource development interested in the Teels prospect, we are confident that Teels will move forward in a positive manner.”
Ashburton Ventures is a junior exploration company actively seeking mineral and energy opportunities for the benefit of its shareholders. For more information please visit the Company’s website located at www.ashburtonventures.com.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
Forward-Looking Statement:Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Ashburton Ventures, Inc. Actual results may differ materially from those currently anticipated in such statements. 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.