Etna Resources Inc.: Corporate Update

VANCOUVER, BRITISH COLUMBIA, Oct 29 (MARKET WIRE) --
Etna Resources Inc. ("Etna") (TSX VENTURE: ETN) is pleased to provide the
following corporate update with respect to the previously announced
transaction pursuant to the Amended and Restated Securities Exchange
Agreement dated October 18, 2009 with South American Lithium Company S.A.
Cerrada ("SALICO"), Sociedad Gareste Limitada ("Gareste") and PGM
International S.A. Cerrada. Etna continues to make progress on the
satisfaction of the necessary conditions of closing required to
consummate the transaction. To this effect, on October 16, 2009, Etna
filed documents with the TSX Venture Exchange in anticipation of
receiving final regulatory approval of the transaction, which documents
included a National Instrument 43-101 compliant technical report for nine
lithium salar projects in Chile (the "NI 43-101 Report"), a title opinion
for the properties to be acquired, a financial plan, and a finder's fee
agreement. Additionally, Etna is working towards closing the previously
announced non-brokered private placement financing of up to $3,000,000.

Upon closing of the Amended and Restated Securities Exchange Agreement,
Etna will obtain 99% of SALICO which, in turn, holds interests in a total
of nine lithium salars in Chile as set out in the table below. The
existing portfolio of rights in the nine salars to be acquired includes
surface brine lakes or surface flow at Laguna Verde, Lagunas Bravas and
Rio Salado/Pedernales, and six additional lithium brine projects, all
located in the mineral-rich Atacama Region III. Following the closing of
the acquisition, Etna anticipates concentrating its initial efforts on
the brine lake at the Laguna Verde salar, which is the primary focus of
the NI 43-101 Report. The rights in these nine lithium salars cover a
cumulative area in excess of 13,000 hectares, all accessible via
serviceable roads. It is believed that the salars collectively carry the
potential to host lithium in three distinct brine types: surface water,
shallow and deep brines.

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Name of Salar Hectares Acquired Property Rights held by SALICO
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Lagunas Jilgueros 1,100 100% of concessions
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Lagunas Bravas 1,100 100% of concessions
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Salar Ignorado 600 100% of concessions
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Salar de Wheel Wright 1,200 100% of concessions
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Laguna Escondida 900 100% of concessions
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Rio de la Sal/Pedernales 900 100% of concessions
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Laguna Verde 3,400 100% of concessions
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La Laguna 400 100% of concessions
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Salar Piedra Parada 3,600(1) Contractual rights to exploit
lithium, light metals and
commercial salts(1)
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(1) SALICO has been granted contractual rights from Gareste to extract and
exploit lithium, light metals and commercial salts with respect to
Salar Piedra Parada; Gareste owns senior mineral concessions at Piedra
Parada on over 2,100 hectares, and has overstaked concessions on 1,500
additional hectares at Piedra Parada which are subject to the senior
rights of a third party.

ETNA RESOURCES INC.

Jerry A. Minni, Director & Chief Financial Officer

This press release contains projections and forward-looking information
that involve various risks and uncertainties regarding future events.
Such forward-looking information can include without limitation
statements based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance of the Company
such as the statement that: (i) the closing of the financing may occur;
(ii) the closing of the Amended and Restated Securities Exchange
Agreement may occur; (iii) the Company may concentrate on the Laguna
Verde salar; and (iv) the belief that the salars may carry the potential
to host lithium in three distinct brines types. There are numerous risks
and uncertainties that could cause actual results and the Company's plans
and objectives to differ materially from those expressed in the
forward-looking information, including: (i) the inability to obtain
Exchange approval and close the acquisition and financing for any reason;
(ii) adverse market conditions; (iii) a decrease in demand for and the
price of lithium; (iv) risks associated with title to property interests;
(v) political risks involving Chile, including changes to legislation
affecting mineral exploration and development activities; and (vi)
general uncertainties with respect to mineral exploration in general.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written and
oral forward-looking information are based on estimates and opinions of
management on the dates they are made and are expressly qualified in
their entirety by this notice.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION
OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE
SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"), OR
ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE
UNITED STATES OR TO "U.S. PERSONS", AS SUCH TERM IS DEFINED IN REGULATION
S UNDER THE U.S. SECURITIES ACT, UNLESS AN EXEMPTION FROM SUCH
REGISTRATION REQUIREMENTS IS AVAILABLE.

Neither 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.

Contacts:
Etna Resources Inc.
Jerry A. Minni
Director & Chief Financial Officer
604-683-8610

Copyright 2009, Market Wire, All rights reserved.

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