First Phosphate (FRSPF) 6-K Current report (foreign)

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1.	Name and Address of Company
	State the full name of your company and the address of its principal office in Canada.
	Pan American Lithium Corp. (the “Company”)
	Suite 110, 3040 N. Campbell Avenue
	Tucson, Arizona USA 85719
Item 2.	Date of Material Change
	State the date of the material change.
	April 30, 2011
Item 3.	News Release
	State the date and method(s) of dissemination of the news release issued under section 7.1 ofNational Instrument 51-102.
	The News Release dated May 2, 2011 was disseminated by Stockwatch and Marketnews.
Item 4.	Summary of Material Change
	Provide a brief but accurate summary of the nature and substance of the material change.
	The Company announced that it has entered into a letter agreement dated April 30, 2011, with Escondidas Internacional S.A. de C.V., a privately held Mexican corporation (“Escondidas”), and the shareholders of Escondidas, whereby the parties have agreed to further extend the closing date set out in the Share Option Agreement dated December 18, 2009, as amended, from April 30, 2011 to October 31, 2011.
Item 5.1	Full Description of Material Change
	Supplement the summary required under item 4 with sufficient disclosure to enable a reader toappreciate the significance and impact of the material change without having to refer to othermaterial. Management is in the best position to determine what facts are significant and mustdisclose those facts in a meaningful manner. See also item 7.
	Some examples of significant facts relating to the material change include: dates, parties, termsand conditions, description of any assets, liabilities or capital affected, purpose, financial ordollar values, reasons for the change, and a general comment on the probable impact on theissuer or its subsidiaries. Specific financial forecasts would not normally be required.
	Other additional disclosure may be appropriate depending on the particular situation.
	See attached News Release.

Item 5.2	Disclosure for Restructuring Transactions
	This item applies to a material change report filed in respect of the closing of a restructuringtransaction under which securities are to be changed, exchanged, issued or distributed. Thisitem does not apply if, in respect of the transaction, your company sent an information circularto its security holders or filed a prospectus or a securities exchange takeover bid circular.
	Include the disclosure for each entity that resulted from the restructuring transaction, if yourcompany has an interest in that entity, required by section 14.2 of Form 51-102F5. You maysatisfy the requirement to include this disclosure by incorporating the information by referenceto another document.
	Not Applicable.
Item 6.	Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
	If this report is being filed on a confidential basis in reliance on subsection 7.1(2) or (3) ofNational Instrument 51-102, state the reasons for such reliance.
	Not Applicable.
Item 7.	Omitted Information
	State whether any information has been omitted on this basis that it is confidential information.
	In a separate letter to the applicable regulator or securities regulatory authority marked“Confidential” provide the reasons for your company’s omission of confidential significant factsin the Report in sufficient detail to permit the applicable regulator or securities regulatoryauthority to determine whether to exercise its discretion to allow the omission of thesesignificant facts.
	Not Applicable.
Item 8.	Executive Officer
	Give the name and business telephone number of an executive officer of your company who isknowledgable about the material change and the Report, or the name of an officer through whomsuch executive officer may be contacted.
	Please contact Andrew Brodkey, President and Chief Executive Officer of the Company, at (520) 989-0022.
Item 9.	Date of Report
	May 3, 2011

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