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Restricted Share Program for Advantage Lithium

Orocobre Limited (ASX: ORE, TSX: ORL) ("Orocobre" or "the Company") wishes to 
clarify the Restricted Share Unit Program referred to in the earlier Cauchari 
Drilling Program Update is for 29% owned and joint venture partner Advantage 
Lithium Corp. Advantage Lithium Corp. ("Advantage Lithium") (TSX Venture: AAL) 
(OTCQX: AVLIF).  The correct references have been made below.

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Initiation of Restricted Share Unit program for Advantage Lithium

In order to further align the interests of Advantage Lithium's senior 
executives, key employees, consultants and directors with those of the 
shareholders (including Orocobre), Advantage Lithium has adopted a restricted 
share unit plan (the "Plan").  The Plan provides for the issuance of up to 
1,900,000 restricted share units (the "RSUs"). Under the Plan, RSUs may be 
granted to directors, officers, employees and consultants of Advantage Lithium 
(excluding investor relations consultants) as partial compensation for the 
services they provide to Advantage Lithium.  The Plan is a fixed number plan, 
and the number of shares issued under the Plan, when combined with the number 
of stock options available under Advantage Lithium's stock option plan, will 
not exceed 10% of Advantage Lithium's outstanding shares.  The Plan is subject 
to the approval of the TSX Venture Exchange and to disinterested shareholder 
(non-insiders) approval which will be sought at the next shareholders meeting 
of Advantage Lithium.  Any RSUs awarded prior to obtaining both TSX Venture 
Exchange approval and disinterested shareholder approval (collectively, the 
"Approvals") are subject to, and may not be paid out before, both approvals are 
obtained.  Any RSU Shares issued are subject to a four month hold from date of 
issue. Advantage Lithium's Compensation Committee and Board of Directors have 
approved the award of 1,750,000 RSUs to certain directors, officers, employees 
and consultants, subject to receipt of disinterested shareholder and Exchange 
approval. The 1,750,000 RSUs vest over three years based upon the achievement 
of certain milestones. Shareholder approval is being sought at Advantage 
Lithium's next AGM.

For more information please contact:

Andrew Barber  
Investor Relations Manager  
T: +61 7 3871 3985                                           
M: +61 418 783 701          
E: abarber@orocobre.com 

SOURCE: Orocobre Limited