Galaxy Resources Limited

Galaxy Resources Limited (ASX:GXY) today announced that RC drilling at its Mt Cattlin Lithium -Tantalum Project, 2 kms north of Ravensthorpe has returned significant tantalum results. The drilling program, which was completed during August-September 2008, was designed to test strike extensions of the known resource, infill portions of the Dowling pit area, and test the potential for repetitions of the lithium and tantalum bearing pegmatite horizons at depth.

Galaxy Resources Limited (ASX: GXY) announced today that it is on track to commission the Mt Cattlin Lithium Tantalum project by Q3 2010 and has provided further information on the expected milestones it expects to deliver leading up to the commissioning.

Galaxy Resources Limited (ASX:GXY) attended the inaugural World Lithium Supply and Markets 2009 conference in Santiago, Chile earlier this month. Based on information presented at the conference and a recently published Economics of Lithium report by Roskill, the company wishes to provide a report on the market outlook for lithium.

Galaxy Resources Limited (ASX:GXY) is pleased to announce that a Memorandum of Understanding has been signed with the Esperance Port Authority in order to investigate, evaluate and progress the export of Spodumene product through the Port of Esperance.

Galaxy Resources Limited (ASX:GXY) has appointed risk advisory group, Noah's Rule, to assist in the next stage of project development and corporate debt raising and financial structuring.

The following presentation represents Galaxy Resources Limited's (ASX:GXY) management's best judgment at the time of presentation. The contents include forward looking statements prepared on the basis of assumptions which may prove to be incorrect.

Galaxy Resources Limited (ASX:GXY) Quarterly Activities Report to Dec 31, 2008

Emerging lithium producer Galaxy Resources Limited (ASX:GXY) is pleased to announce that it has been granted Mining Leases ML74/155 and ML74/182, which surround the Mt Cattlin lithium and tantalum resource near Ravensthorpe in Western Australia.

Galaxy Resources Limited (ASX:GXY) is pleased to announce that Mr John Sobolewski has been appointed Chief Financial Officer for the Company.

Yesterday the Australian share market ended lower, led by energy and mining stocks and a fall on a dismal earnings season in the US. The benchmark S&P/ASX200 index was down 0.8%, or 28.7 points, at 3654.6, while the broader All Ordinaries index slid 0.8%, or 30.1 points, to 3593.9. After some rise at the start of the year, the market may see more volatility due to the renewed bleak global outlook.