Orocobre Limited: Amendment to Salinas Grandes Technical Report (NI 43-101) April 16, 2012

BRISBANE, AUSTRALIA -- (Marketwired) -- 08/23/13 -- Orocobre Limited (TSX: ORL)(ASX: ORE) -

As a result of a review by staff of the Ontario Securities Commission (OSC), we are issuing the following news release regarding our disclosure in relation to the Salinas Grandes project.

The April 16, 2012 technical report on the Salinas Grandes lithium project in Argentina was recently reviewed by the OSC as part of a review of 43-101F1 Technical Reports and found to require the following amendments:

1. Mr Peter Ehren now takes responsibility for Item 15 of the Technical Report in place of Mr Murray Brooker with Mr Brooker responsible for all other sections.

2. The following paragraph on page 2 of the Technical Report has been removed:

"In preparing a technical report of this nature multiple technical
   disciplines are required, including mineral processing in addition to
   geological and hydrogeological expertise provided by the author.
   Mineral processing and metallurgical testing expertise and statements
   in section 15 of this report was provided by Peter Ehren, who is a
   consulting mineral processing engineer with significant experience in
   brine deposits. Review of the material prepared by Peter Ehren was
   undertaken by Mr. Brooker. However, it is acknowledged that Mr.
   Brooker is not an expert in mineral processing".

The paragraph removed has been replaced with the following:

"Mr Peter Ehren (MAusIMM) is a consulting mineral processing engineer
   with significant experience in lithium brine deposits. He has acted as
   a consultant on the company's Olaroz and Cauchari lithium projects as
   well as consulting extensively for other clients. Mr Ehren is
   responsible for the mineral processing and metallurgical testing
   statements in section 15 of this report".

3. Appendix 1, drill logs for diamond and auger drilling has been removed.

4. References to Appendix 1 on pages iii, 66 and 68 have been removed.

5. The revised QP consents have been refiled on SEDAR referencing the effective date and the amended date of the Technical Report.

6. The amended Technical Report has been refiled on SEDAR.

The Company does not dispute the findings of the OSC and has made the necessary amendments as listed above in order to make the Technical Report compliant with the requirements of the OSC.

Neil Kaplan, Company Secretary

ABN 31 112 589 910

Contacts:
Orocobre Limited
David Hall
Business Development Manager
M: + 61 407 845 052
T: [phone]
[e-mail]

Orocobre Limited
Richard Seville
Managing Director
M: [phone]
[e-mail]
www.orocobre.com.au