Adjournment of Annual General Meeting

/NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR TO US PERSONS/

PERTH, Australia, May 31, 2013 /CNW Telbec/ - Galaxy Resources Limited (ASX: GXY) refers to the Notice of Annual General Meeting lodged with ASX on 30 April 2013.

The company wishes to advise shareholders that consideration of Resolution 2 (Re-Election of Mr Craig Readhead as a Director) to be considered at the Annual General Meeting convened on Friday 31 May 2013, has been adjourned for 7 days until 10.00 am AWST Friday 7 June 2013 at the City West Function Centre, 45 Plaistowe Mews, West Perth WA 6005.

The adjourned Meeting will only consider Resolution 2 - Re-Election of Mr Craig Readhead as a Director.

The Meeting was adjourned in accordance with the article 9.9 of the Company's constitution due to the fact that holders of approximately 75 million shares had indicated to the company prior to the commencement of the meeting that they intended to vote in favour of Resolution 2. Proxies and/or corporate representatives in relation to these approximately 75 million shares were not eligible to be voted at the Meeting, due in part to technical and administrative processes.

The Company believes that these votes are material in ensuring voting on Resolution 2 reflects the fair and equitable view of shareholders.

For the adjourned Annual General Meeting, a completed Proxy Form or online proxy instructions must be received by the Company or its share registry by no later than 10.00am AWST on Wednesday 5 June 2013 (10.00pm CEDST on 4 June 2013), being not less than 48 hours prior to the commencement of the adjourned Meeting. Any Proxy Form received after that time will not be valid for the Meeting.  Valid Proxy Forms already received by the Company will remain effective for the adjourned Meeting.

Resolution 1 was carried on a show of hands. In accordance with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act, we advise below is a summary of the number of proxy votes cast in respect of Resolution 1 put to shareholders at the Annual General Meeting.

Resolution number	For	Against	Open - Board	Open - Non Board	Abstain	Excluded
1 - Adoption of Remuneration Report	106,738,606 (61.46%)	65,607,988 (37.78%)	1,170,748 (0.67%)	156,000 (0.09%)	1,365,566	43,809,949

Note: All Open - Board Proxies were voted for this resolution by the Chairman.

About Galaxy (ASX: GXY)

Galaxy Resources Ltd ("Galaxy") is an Australian-based global lithium company with lithium production facilities, hard rock mines and brine assets in Australia, China, Canada and Argentina. The Company is a lithium producer listed on the Australian Securities Exchange (Code: GXY) and is a member of the S&P/ASX 300 Index.

Galaxy wholly owns the Jiangsu Lithium Carbonate Plant in China's Jiangsu province. The Jiangsu Plant will eventually produce 17,000 tpa of battery grade lithium carbonate, becoming the largest producer in the Asia Pacific region and the fourth largest in the world.

Galaxy is also advancing plans to develop the Sal de Vida (70%) lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent promise as a future low cost brine mine and lithium carbonate processing facility.

The Company owns Mt Cattlin (100%) spodumene project near Ravensthorpe in Western Australia and the James Bay (100%) Lithium Pegmatite Project in Quebec, Canada.

Lithium compounds are used in the manufacture of ceramics, glass, electronics and are an essential cathode material for long life lithium-ion batteries used to power e-bikes and hybrid and electric vehicles. Galaxy is bullish about the global lithium demand outlook and is positioning itself to become a major producer of lithium products.

Caution Regarding Forward Looking Information.

This document contains forward looking statements concerning Galaxy.

Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors.  Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies.  Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.

Forward looking statements in this document are based on Galaxy's beliefs, opinions and estimates of Galaxy as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

Not For Release in US

This announcement has been prepared for publication in Australia and may not be released in the U.S. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.

SOURCE: Galaxy Resources Limited

Corporate  
Iggy Tan
Managing Director
Galaxy Resources Ltd
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Email: [email protected]    

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FTI Consulting
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