ASHBURTON AND FIRST LITHIUM RESOURCES FORM OPTION AGREEMENT AT TEELS MARSH, NEVADA

ASHBURTON AND FIRST LITHIUM RESOURCES FORM OPTION AGREEMENT AT TEELS MARSH, NEVADA 150 150 Progressive Planet Inc.



February 25, 2010,
VANCOUVER, B.C.




–
ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or the
“Company”)


is pleased to announce
it has entered into an Option Agreement to allow
First
Lithium Resources Inc. (MCI-TSX:V)


to earn
an 80% interest in the Teels lithium prospect, located approximately 87
kilometers (54 miles) northwest of the Clayton Valley lithium brine operation
in southern Nevada. The prospect comprises 120 placer claims (2,400 acres – 3.7
square miles) that cover approximately the western two-thirds of the Teels
Marsh, a closed desert basin that was confirmed as having anomalously high Li
spring waters in a reconnaissance water sampling program by the Company in 2009
(see Ashburton NR, January 11, 2010).

In order to maintain the Option in good
standing and to earn an 80% interest in the Property, First Lithium Resources
shall make cash payments, issue common shares to the Optionor and incur
Exploration Expenditures by the following deadlines:



a. 



pay
$40,000 and issue 250,000 common shares in the capital of the Company
(“common shares”) within three business days of the Company
receiving Exchange approval of the transactions contemplated by this Agreement;



b. 



pay
$50,000 and issue 500,000 common shares by the first anniversary of the date on
which the Optionor gains legal and beneficial title to the Property (the
“Registration Date”);



c. 



pay
$85,000 and issue 500,000 common shares by the second anniversary of the
Registration Date; and



d. 



incur Exploration
Expenditures of an aggregate of $450,000 on the Property as follows:



i. 



$100,000 by the
first anniversary of the Registration Date;



ii. 



$150,000 by the
second anniversary of the Registration Date; and



iii. 



$200,000 by the
third anniversary of the Registration Date

.


President
and CEO Michael England states: “We are pleased to bring First Lithium
into this project

. With a
company focused on lithium resource development interested in the Teels
prospect, we are confident that Teels will move forward in a positive
manner.”

 

Ashburton Ventures is a
junior exploration company actively seeking mineral and energy opportunities
for the benefit of its shareholders. For more information please visit the
Company’s website located at www.ashburtonventures.com.

ON BEHALF OF THE BOARD

 

Michael England, President

 


For
further information contact:

Telephone:
(604) 683-3995

 



Forward-Looking Statement:



Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting the business
of Ashburton Ventures, Inc.  Actual results may differ materially from
those currently anticipated in such statements. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.


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