Lithic Resources Ltd. announce that on July 30, 2012, it closed the non-brokered private placement previously announced on July 19, 2012 and increased on July 23, 2012, consisting of 15 million common shares at a price of 5 cents per share for gross proceeds of $750,000. The company also announced the appointments of Wayne Hubert and Kerry Curtis to the board of directors immediately following completion of the Private Placement. Mr. Hubert was most recently CEO and director of Andean Resources Limited from 2006 until December 2010. Mr. Curtis is the former President, CEO and director of Cumberland Resources Ltd., a Canadian gold company which he led from the resource discovery stage through feasibility, permitting and initial construction until its acquisition by Agnico Eagle in 2007. Following completion of the Private Placement, Steve Vanry and Frank Wheatley resigned from the board of directors in order to make room for the appointments of Messrs. Hubert and Curtis.