We present optical, ultraviolet (UV), and extreme ultraviolet (EUV) re
sults for a new active late-type dwarf star discovered by the Extreme
Ultraviolet Explorer (EUVE). A large flare with an energy in excess of
10(35) erg and duration of similar to 1.1 days was detected in the EW
E Lex/B band (60-200 Angstrom). The energetics of the event indicate t
hat radiative losses in the EUV are a significant contributor to the e
nergy budget in stellar flares. The ''quiescent'' EUV emission of the
source is similar to the most active flare stars with the ''quiescent'
' optical spectrum showing strong H alpha, Ca II H & K, and Mg II h &
k emission. A strong Li I 6707.8 Angstrom absorption line is also pres
ent in the spectrum. We have estimated a Li abundance of log N(Li) = 2
.5+/-0.4. Although the high Li abundance suggests that EUVE J2056-17.1
is a young object having recently arrived on the main sequence; the h
igh flare activity favours an interpretation where the enhanced Li is
sustained by spallation reactions.