presentation, page-4

The reason that there has been no reaction to the presentation is because
the market expected details of the completion of the back half of the carbonate plant and an indication of the quality of carbonate being
produced during the test phase.

On the 15th July the company announced:

"Back half of Jiangsu to be complete with commissioning to commence during Q3 2011"

&

"Galaxy will purchase Industrial grade lithium carbonate for feedstock
until the remainder of the plant is commissioned".

The announcement of the completion of the back half of the plant is already late and there is no indication of what grade that this scheduled
test run will produce. Until there is info on these two critical steps
of GXY's progress, there is little reason for the share price to move
significantly.

Cheers
Moorookamick
Ireland