Mitsubishi Corporation

Off-Take Option:

Conditional on Mitsubishi Corporation maintaining at a minimum a 4% equity interest in Lithium Americas Corp, the option to enter into an off-take arrangement entitling Mitsubishi Corporation to acquire up to 12.5% of the Corporation’s lithium carbonate including its derivatives and potassium production
The Off-Take Option is conditional on Mitsubishi Corporation agreeing to provide an interest free loan or credit facility in a principal amount equal to that percentage of the capital costs of bringing Lithium Americas’ lithium property into commercial production that is equal to the minimum percentage of lithium carbonate production to be acquired by Mitsubishi Corporation

Memorandum of Understanding:

Mitsubishi Corporation and Lithium Americas entered into a memorandum of understanding, setting out in general terms both parties intentions on co-development and commercialization of the Cauchari-Olaroz Properties
The MOU includes, among other matters, the intentions of the parties to make commercially reasonable efforts to proceed with the feasibility study on the project, research and development concerning the mineral recovery process to determine the most economical recovery method, and discuss the possibility of forming a joint venture in regards to the project.

For a more detailed review of Mitsubishi’s off-take arrangement with Lithium Americas, please refer to our Prospectus dated May 6, 2010