Don't be shocked!, page-93

GXY are like swans on the lake, not much movement above but the legs are going flat out.

RESPONSE TO RECENT MEDIA SPECULATIONGalaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is aware of an article published today in the Financial Reviewtitled “Debt-free Galaxy Resources to back lithium processing plant in China”.Galaxy confirms it has held, in the ordinary course of its business, a number of conversations with various parties about possible cooperation in a chemical processing plant in China. At present all conversations have been informal and are incomplete, and no bindingor non-binding documentation has been signed. Galaxy may enter into one or more non-binding arrangements regarding possible cooperation in a chemical processing plant in China should an appropriate opportunity be identified which is worthy of furtherinvestigation.Galaxy will update the market in accordance with its continuous disclosure obligations if a material agreement is entered into.

Regards, Tinman9