Franco Mignacco, Lithium Americas’ Vice-Chairman commented: “This is a great opportunity for international investors to visit the province of Jujuy and witness first hand why the province has experienced such remarkable growth in the mining industry in recent years. Given the seminar will be attended by a broad range of industry participants, investors will be able to see the lithium industry working in a fully co-operative and mutually-supportive way.”

The Company is also pleased to report that according to the most recent independent findings of signumBOX, a Chilean based consulting firm with extensive experience in the lithium industry, Lithium Americas’ Cauchari-Olaroz project is ranked the 2nd best undeveloped lithium brine project in the world out of 47 brine projects evaluated. Additionally, according to the signumBOX results, Jujuy province in Argentina is the home of the top two undeveloped lithium brine projects in the world. John Kanellitsas, Lithium Americas’ Interim CEO commented: “We are pleased to see the high relative ranking in the signumBOX analysis as it is consistent with our view that Cauchari-Olaroz represents a project of world-class scale, with a low cost profile, and outstanding infrastructure that exists within the Jujuy province.”

About the Company
Lithium Americas is developing one of the world’s largest and lowest cost lithium operations. The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry. Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.
For more information please contact:

Mike Cosic, Chief Financial Officer
mcosic@lithiumamericas.com
416-360-1921
or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements
This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will”, “commence”, “future” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated March 28, 2013 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz lithium project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain or maintain governmental approvals necessary for the operation of its project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

• Dr. Waldo Perez will be stepping down formally as President and CEO, and as a Director, at the Company’s annual general meeting (“AGM”) on June 14, 2013, to pursue other business interests.
• John Kanellitsas, a Director of the Company, has been appointed Interim President and CEO.
• Franco Mignacco, a Director of the Company, has been appointed Vice Chairman of Lithium Americas, and President of Minera Exar, LAC’s operating subsidiary in Argentina.

Dr. Perez has been President and CEO of Lithium Americas since its inception in 2009.  Under his direction, the Company achieved numerous significant milestones including; a $45 million IPO on the Toronto Stock Exchange in May 2010; completing an extensive drilling program which resulted in the Company identifying the third largest lithium brine resource in the world; completing a definitive Feasibility Study identifying the Company’s Cauchari-Olaroz project as one of the lowest cost lithium projects in the world; and obtaining all necessary government permits to commence project construction.

Tom Hodgson, Lithium Americas’ Executive Chairman, stated: “On behalf of the Board, I would like to thank Waldo for his major contributions, and wish him success in his new ventures. I am also pleased to announce the formation of a new senior management team.  John Kanellitsas has been serving as the Chairman of the Executive Committee leading efforts to identify strategic partners and is well suited for the Interim CEO position.   I am also very pleased that our Argentinean director, Franco Mignacco, has been willing to accept the role of Vice Chairman of LAC, and President of our principal operating subsidiary which will build out the Cauchari-Olaroz lithium project.”

John Kanellitsas has been a Director of the Company since 2011, and is the Chief Operating Officer of Geologic Resource Partners, LLC (“Geologic”).  Geologic is the manager of several investment funds focused on metals and mining sectors and is the largest shareholder of Lithium Americas.  In accepting the appointment as Interim President and CEO, Mr. Kanellitsas stated: “This is an incredibly exciting time to be investing in the lithium sector as we believe lithium demand will continue to grow significantly from rapid advances in battery technologies related to, among other things, electric vehicles and grid storage applications. I look forward to continuing our discussions with potential strategic partners in order to finalize project financing arrangements and to develop this world class resource in the Jujuy Province of Argentina.  Achieving these milestones should unlock tremendous shareholder value.”

Franco Mignacco has been a Director of the Company since 2009, and he and his family are major shareholders of Lithium Americas, owning approximately 6% of the Company’s shares outstanding.  A respected business leader in Jujuy, Argentina, where he resides, Mr. Mignacco played an instrumental role in obtaining the final government permits required to commence construction of the Company’s Cauchari-Olaroz lithium project. In assuming the role of Vice Chairman of Lithium Americas, and President of Minera Exar, Mr. Mignacco will continue to oversee relations with the government and the local communities, and will oversee the Cauchari-Olaroz project development through the construction phase.  ”My family has been a long term investor and supporter of LAC and I look forward to leading the Argentinean efforts and working alongside all of the LAC stakeholders. This is a very special project that will benefit the people of Jujuy province for many generations.”

Update on Project Financing The Company is also providing an update on its project financing discussions.  In November 2012, the Company announced the creation of an Executive Committee to oversee financing proposals and to manage discussions with current and prospective strategic partners.  Since that time, the Company has had numerous parties review the contents of its data room, participate in site visits, and have extensive due diligence discussions with Company management and the Executive Committee.  Despite the difficult financing climate facing the global junior resource sector, the Company is pleased to report that its process has generated strong and continuing interest from a number of potential partners (based in Asia, Europe, North America, and South America) that are in various stages of due diligence.  “We are committed to running a thorough and professional process in order to execute a financing arrangement which will maximize shareholder value,” stated Mr. Hodgson.  “We are hopeful to be in a position to provide more specific detail on our project financing discussions in the near future.”

About the Company Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, Chief Financial Officer

mcosic@lithiumamericas.com

416-360-1921 or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will”, “commence”, “future” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated March 28, 2013 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz lithium project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain or maintain governmental approvals necessary for the operation of its project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

TORONTO, Canada, April 1, 2013 – Lithium Americas Corp. (TSX: LAC) (“Lithium Americas” or the “Company”) today reported that it has filed its audited consolidated financial statements, management discussion and analysis, and annual information form, as at, and for the ten month period ended December 31, 2012. These documents are available in the SEDAR database at www.sedar.com and on the Company’s website www.lithiumamericas.com. All amounts are expressed in Canadian dollars, unless otherwise indicated.
 

Financial Results

The Company changed its financial year-end date from February 28 to December 31. This change was made to conform to a more standardized industry and calendar basis. As such, financial and operational results are presented for the ten month period ended December 31, 2012, with comparative information for the year ended February 29, 2012.

As at December 31, 2012, the Company had invested a total of $45.7 million in property rights, exploration, and evaluation activities related to its Cauchari-Olaroz lithium project. As at December 31, 2012, the Company had $1.0 million in cash and cash equivalents, and $7 million available under its stand-by line of credit facility. Given Lithium Americas is a development stage company, it is not yet in a position to generate any revenue, and as such, reported a net loss of $4.3 million during the ten month period ended December 31, 2012. This resulted in a loss per share of $0.06.

“Lithium Americas made great strides in 2012 towards putting its world-class lithium deposit into commercial production”, said Dr. Waldo Perez, President and CEO of Lithium Americas. “Having completed our Feasibility Study, and having obtained the final project approval from the respective governmental authorities, we are now in a position to commence the detailed engineering work for construction of our project, once project financing is obtained. We are actively involved in project financing discussions with a number of interested parties.”

Operational Results

During the ten months ended December 31, 2012, the Company announced the following significant developments associated with the advancement of its Cauchari-Olaroz lithium project:

Received Final Decree, Approving the Development of its Cauchari-Olaroz Lithium Project
In December 2012, the Company announced that it received final project approval for the construction of its Cauchari-Olaroz lithium project. Upon the recommendation of the Committee of Experts, the Jujuy Government executed the final decree, through the joint resolution of the Production Minister and Secretary to the Government, which approved the development of Lithium Americas’ Cauchari-Olaroz lithium project. Such approval included water use permitting, confirmation of mining licences in good standing, environmental approval for lithium and potash production, and all other permits required to start project construction.

Received Committee of Experts Project Approval
In November 2012, the Company announced that it received approval for the construction of its Cauchari-Olaroz lithium project from the Committee of Experts of the province of Jujuy. The Committee of Experts is tasked with assessing the impact and benefits to the province of Jujuy of any proposed lithium project.
Committee of Experts’ approval was granted following the Company entering into a letter of intent (“LOI”) with Jujuy Energia y Mineria Sociedad del Estado (“JEMSE”). JEMSE is the government of Jujuy’s mining investment company, involved in the development of mining projects in the province of Jujuy. The LOI with JEMSE, whereby JEMSE will acquire an 8.5% equity interest in the Company’s Argentinean subsidiary (“Minera”), provides Lithium Americas with valuable management services in order to develop its world class lithium project. These management services include:
• Liaison with the national customs authorities to facilitate import of all the necessary equipment and components, primary materials and/or necessary services for the development of the project and the export of products
• Liaison with the governing bodies of the province of Jujuy and the municipality of Susques
• Liaison with the authorities of the Republic of Argentina’s Central Bank to facilitate the import and export of currency
• JEMSE to obtain a list of local providers such that the Company can make an appropriate selection based on their qualifications. Priority will be given to local providers to ensure quality, opportunity, price and local participation on the basis of the project schedule, financial requirements, and best practices

JEMSE will be required to cover its pro rata share of the financing requirements for the construction of the Cauchari-Olaroz lithium project. These funds will be loaned to JEMSE by Lithium Americas and will be repayable out of one-third of the dividends to be received by JEMSE from Minera over future years of the Cauchari-Olaroz lithium project. The distribution of dividends to JEMSE and other shareholders of Minera will only commence once all commitments related to the project and debt financing are met.

The terms of the JEMSE LOI with Lithium Americas are comparable to a similar agreement entered into between JEMSE and another Jujuy-based lithium development company. A most favoured nations clause ensures that, should JEMSE reach an agreement with any other lithium company on terms that are more favourable than those in Lithium Americas’ agreement, those more favourable terms will automatically apply to Lithium Americas’ agreement with JEMSE. A definitive agreement with JEMSE is expected to be executed at the time that project financing is obtained.

Received Recommendation of Approval of Environmental Impact Statement
In August 2012, the Company announced that the Provincial Environmental Agency of Jujuy Province, Argentina (“UGAM”) recommended approval of the Environmental Impact Statement (”EIS”) for the construction of the Company’s Cauchari-Olaroz lithium project. Lithium Americas previously obtained definitive mining title as well as secured long term land use agreements with the five aboriginal communities on which its Cauchari-Olaroz lithium project reserve estimate was calculated and its project to be built.

Filed Definitive Feasibility Study
In July 2012, the Company filed on SEDAR its National Instrument 43-101 compliant Feasibility Study for its Cauchari-Olaroz lithium project.

Announced Definitive Feasibility Study Results
In June 2012, the Company announced the results of its Feasibility Study, which was prepared by independent engineering firm ARA WorleyParsons (“ARAWP”), hydrogeologic modelling expert AquaResource, a division of Matrix Solutions Inc., and hydrogeology expert Groundwater Insight (“GWI”). The Feasibility Study builds upon the Company`s Preliminary Economic Assessment (“PEA”), prepared by ARAWP and GWI and filed on SEDAR in May 2011. According to the reserve estimate outlined in the Feasibility Study, Lithium Americas’ Cauchari-Olaroz lithium project has proven and probable reserves sufficient to operate at a production rate of up to 40,000 tonnes per annum (“TPA”) of lithium carbonate and up to 80,000 TPA of potash for 40 years, which would include an initial five year ramp-up period.

The reserve and resource estimate for the Cauchari-Olaroz lithium project is summarized in the tables below for both lithium and potassium. The reserve and resource estimates are expressed relative to a lithium grade cut-off of ≥ 354 milligrams per litre (“mg/L”), which was identified as a brine processing constraint.

Lithium Americas’ business plan is to build the project in two stages, with each stage consisting of a 20,000 TPA lithium carbonate facility and a 40,000 TPA potash facility.  The second stage is not expected to commence until 2018 and it will be the subject of a separate study to be undertaken by the Company.  Stage 2 is expected to improve the already robust project financials for stage 1, as outlined in the Feasibility Study.  No estimated financial results associated with stage 2 are included in the Feasibility Study results.

The Feasibility Study calculates a base case pre-tax net present value (“NPV”) of US$738 million, assuming an 8% discount rate, and an after-tax NPV of US$464 million.  The base case pre-tax Internal Rate of Return (“IRR”) is 23% and after-tax IRR is 20%.  The Feasibility Study estimates cash operating costs for lithium carbonate at US$1,876 per tonne, or US$1,332 per tonne if expressed on a net cash operating cost basis (ie. if the cash operating margin benefits of potash are deducted from the cash operating costs of lithium carbonate, which is customary in the mining industry when reporting the costs of the main product vs. the by-product).  The Feasibility Study estimates initial capital costs associated with lithium carbonate production to be US$269 million, and initial capital costs associated with potash production to be US$45 million.

The Feasibility Study results indicate that Lithium Americas is expected to have one of the largest and lowest cost lithium operations in the industry.

Waldo Perez, P.Geo., is the internal Qualified Person for the Cauchari-Olaroz lithium project in accordance with NI 43-101.  Mr Perez has read and approved the contents of this news release.

Executive Committee

In addition to the above mentioned operational achievements, in November 2012 the Company announced the creation of an Executive Committee to oversee discussions with prospective strategic partners and financing proposals.  Given the economic value of the Company’s Cauchari-Olaroz lithium project, as reflected in the Company’s Feasibility Study, Lithium Americas received several new expressions of interest in financing its project, in addition to the agreements that the Company already has with its strategic investors.  In order to better manage these project financing discussions, Lithium Americas created an Executive Committee of the Board to oversee the process of soliciting financing proposals for the development of the Company’s Cauchari-Olaroz lithium project, and to manage discussions with current and prospective strategic partners.  The Executive Committee is comprised of John Kanellitsas (Committee Chair), Constantine Karayannopoulos, and Tom Hodgson (Executive Chairman of the Company), supported by Company CEO Waldo Perez.  The Executive Committee is assisted in this effort by Scotia Capital, acting as Lithium Americas’ financial advisor.

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, Chief Financial Officer

mcosic@lithiumamericas.com

416-360-1921

or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will”, “commence”, “future” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated March 28, 2013 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz lithium project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain or maintain governmental approvals necessary for the operation of its project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

The mineral reserve and resource figures referred to herein are estimates only and no assurance can be given that the anticipated tonnages and grades/concentrations will be achieved, that the indicated level of recovery will be realized or that mineral reserves could be mined or processed profitably. There are numerous uncertainties inherent in estimating mineral reserves and mineral resources, including many factors beyond the Company’s control. Such estimation is a subjective process, and the accuracy of any reserve or resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and hydrogeological interpretation. In addition, there can be no assurance that lithium and/or potash recoveries in small scale laboratory tests will be duplicated in larger scale tests under on-site conditions or during production. Lower market prices, increased production costs, reduced recovery rates and other factors may result in a revision of its reserve estimates from time to time or may render the Company’s reserves uneconomic to exploit. Reserve data are not indicative of future results of operations. If the Company’s actual mineral reserves and mineral resources are less than current estimates or if the Company fails to develop its resource base through the realization of identified mineralized potential, its results of operations or financial condition may be materially and adversely affected. Evaluation of reserves and resources occurs from time to time and they may change depending on further hydrogeological interpretation, drilling results and mineral prices. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Until mineral reserves and resources are actually mined and processed, the quantity of mineral reserve and resource grades/concentrations must be considered as estimates only.  

TORONTO, Canada, December 12, 2012 – Lithium Americas Corp. (TSX: LAC) (OTCQX: LHMAF) (“Lithium Americas” or the “Company”) is pleased to announce that it has received final project approval for the construction of its Cauchari-Olaroz lithium/potash project.

Upon the recommendation of the Committee of Experts, the Jujuy Government has executed the final decree, through the joint resolution of the Production Minister and Secretary to the Government, which approved the development of Lithium Americas’ Cauchari-Olaroz project.  Such approval includes water use permitting, confirmation of mining licences in good standing, environmental approval for lithium and potash production, and all other permits required to start project construction.

“Lithium Americas is very proud of advancing the Cauchari-Olaroz project from discovery and exploration, through development, to fully permitted in just short of 4 years,”  stated  Dr. Waldo Perez, President and CEO of Lithium Americas. “We continue to receive an enormous level of support from multiple constituencies in Argentina. We have worked extremely hard to garner this support, which has served to accelerate the permitting and development of Cauchari-Olaroz, as well as further de-risk the project. With the permitting process concluded, our next milestone is securing project financing and off take agreements, which will allow us to initiate project construction in 2013.”

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, Chief Financial Officer
mcosic@lithiumamericas.com
416-360-1921
or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 28, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain or maintain governmental approvals necessary for the operation of its project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements. 

Creates Executive Committee to Oversee Financing Proposals

TORONTO, Canada, November 14, 2012 – Lithium Americas Corp. (TSX: LAC) (OTCQX: LHMAF) (“Lithium Americas” or the “Company”) is pleased to announce that it has received approval for the construction of its Cauchari-Olaroz lithium project from the Committee of Experts of the province of Jujuy.  The Committee of Experts is tasked with assessing the impact and benefits to the province of Jujuy of any proposed lithium project.

“Receipt of Committee of Experts project approval is another major milestone for our Company”, said Tom Hodgson, Executive Chairman of Lithium Americas.  “Given that the fundamentals of the lithium industry continue to be very strong, we are extremely pleased to be one important step closer to the construction of Cauchari-Olaroz, projected to be one of the largest and lowest cost lithium brine projects in the world.  Our focus is now on finalizing project financing, and on preparing for the project construction phase.”

Committee of Experts’ approval has been granted following the Company entering into an agreement with Jujuy Energia y Mineria Sociedad del Estado (“JEMSE”).  JEMSE is the government of Jujuy’s mining investment company, involved in the development of mining projects in the province of Jujuy.  The agreement with JEMSE, whereby JEMSE will acquire an 8.5% equity interest in the Cauchari-Olaroz project, provides Lithium Americas with valuable management services in order to develop its world class lithium project.  These management services include:

• Liaison with the national customs authorities to facilitate import of all the necessary equipment and components, primary materials and/or necessary services for the development of the project and the export of products
• Liaison with the governing bodies of the province of Jujuy and the municipality of Susques
• Liaison with the authorities of the Republic of Argentina’s Central Bank to facilitate the import and export of currency
• JEMSE to obtain a list of local providers such that the Company can make an appropriate selection based on their qualifications.  Priority will be given to local providers to ensure quality, opportunity, price and local participation on the basis of the project schedule, financial requirements, and best practices

JEMSE will be required to cover its pro rata share of the financing requirements for the construction of the Cauchari-Olaroz project.  These funds will be loaned to JEMSE by Lithium Americas and will be repayable out of one-third of the dividends to be received by JEMSE over future years from the Cauchari-Olaroz project.  The distribution of dividends to JEMSE and other shareholders in the project will only commence once all annual commitments related to project debt financing are met.

The terms of the JEMSE agreement with Lithium Americas are comparable to a similar agreement recently entered into between JEMSE and another Jujuy-based lithium development company.  A most favoured nations clause ensures that, should JEMSE reach an agreement with any other lithium company on terms that are more favourable than those in Lithium Americas’ agreement, those more favourable terms will automatically apply to Lithium Americas’ agreement with JEMSE.  A definitive agreement with JEMSE is expected to be executed at the time that project financing is obtained.

“Lithium Americas was able to achieve project approval within less than a year of submitting its initial Environmental Impact Statement” stated Dr. Waldo Perez, President and CEO of Lithium Americas.   “Very few resource projects anywhere in the world have moved forward in terms of discovery, feasibility and government approval as quickly as our project.  This is attributable to the strength of our Argentinean team, as well as the overwhelming support of the aboriginal communities which have been strong advocates of our project.”

Creation of an Executive Committee to Oversee Financing Proposals

Given the tremendous economic value of the Company’s Cauchari-Olaroz project, as reflected in the definitive Feasibility Study filed by the Company in July 2012, Lithium Americas has received several new expressions of interest in financing its project, in addition to the agreements that the Company already has with its two strategic investors.  In order to better manage these project financing discussions, Lithium Americas has created an Executive Committee of the Board to oversee the process of soliciting financing proposals for the development of the Company’s Cauchari-Olaroz project, and to manage discussions with current and prospective strategic partners.  The Executive Committee is comprised of John Kanellitsas (Committee Chair), Constantine Karayannopoulos, and Tom Hodgson, supported by Dr. Perez.  The Executive Committee will be assisted in this effort by Scotia Capital, acting as Lithium Americas’ financial advisor.

CFO Appointment

Mike Cosic, MBA, CFA, who has served as Lithium Americas’ Vice President Corporate Development for the last 3 years, and earned the full confidence of the Board, assumed the CFO role effective November 5, 2012.  Lithium Americas looks forward to Mike playing an expanded role in the future of the Company.

Omar Salas, the Company’s previous CFO, left Lithium Americas effective November 4, 2012 to pursue other interests.  As CFO, Mr. Salas was an important member of the organization and Lithium Americas wishes him all the best in his future endeavours.

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, Chief Financial Officer

mcosic@lithiumamericas.com

416-360-1921

or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 28, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain or maintain governmental approvals necessary for the operation of its project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

HIGHLIGHTS

• Announced   Completion of Positive Definitive Feasibility Study Confirming Cauchari-Olaroz as One of the World’s Largest and Lowest   Cost Lithium Brine Resources                
• Received   Approval of Environmental Impact Statement. Final Government Approval to   Proceed with Construction and Production Expected in Q4 of Calendar Year 2012  
• Negotiations   with Strategic Partners Regarding Project Financing Have Commenced, and are   Expected to Conclude within Q4 of Calendar Year 2012     or   Early in Calendar Year 2013

TORONTO, Canada, October 15, 2012 – Lithium Americas Corp. (TSX: LAC) (OTCQX: LHMAF) (“Lithium Americas” or the “Company”) today reported that it has filed its interim financial reports, including the unaudited condensed consolidated interim financial statements and management discussion and analysis, as at, and for the three months ended, August 31, 2012. These documents are available in the SEDAR database at www.sedar.com and on the Company’s website www.lithiumamericas.com. All amounts are expressed in Canadian dollars, unless otherwise indicated.

Results For The Period

During the three months ended August 31, 2012, the Company incurred a net loss of $1.2 million (August 31, 2011 – $2.1 million). Loss per share for the quarter amounted to $0.02 compared to $0.03 in the same period of 2011. General and administrative expenses during the first quarter amounted to $0.34 million (August 31, 2011 – $0.47 million), losses on foreign exchange were $0.01 million (August 31, 2011 – $0.07 million), while share-based compensation expense, a non-cash item totalled $0.2 million (August 31, 2011 – $0.6 million).

As at August 31, 2012, the Company had $2.3 million in cash and cash equivalents and positive working capital of $0.7 million, and $8 million available under its stand-by line of credit to fund current operations.

“With our definitive Feasibility Study complete and the pilot plant operational, our attention has been focussed on obtaining final government approval and on securing our project financing,” said Waldo Perez, President and CEO of Lithium Americas.  “The global market for lithium continues to be supported by strong demand for batteries of all sizes, from hand held electronic devices to large scale grid storage, creating upward pressure on lithium carbonate prices. The scale and projected low operating cost of the Cauchari-Olaroz project is expected to make us extremely competitive in this growing market.”

Operational Highlights

During the three months ended August 31, 2012, the Company announced the following significant developments associated with the advancement of its principal property:

Announcement of Definitive Feasibility Study Results

According to the Reserve Estimate outlined in the definitive Feasibility Study (“FS”),  Lithium Americas’ Cauchari-Olaroz property has proven and probable reserves sufficient to operate at a production rate of up to 40,000 tonnes per annum (“TPA”) of lithium carbonate and up to 80,000 TPA of potash for 40 years, which would include an initial five year ramp-up period.  Consistent with the Company’s previously released Preliminary Economic Assessment, Lithium Americas’ business plan is to build the project in two stages, with each stage consisting of a 20,000 TPA lithium carbonate facility and a 40,000 TPA potash facility.  The second stage is not expected to commence until 2018 and it will be the subject of a separate study to be undertaken by the Company. Stage 2 is expected to improve the already robust project financials for stage 1, as outlined in the FS. No estimated financial results associated with stage 2 are included in the FS results identified below.

The FS results identify that Lithium Americas is expected to have one of the largest and lowest cost lithium operations in the industry and calculates a base case pre-tax net present value (“NPV“) of US$738 million, assuming an 8% discount rate, and an after-tax NPV of US$464 million.  The base case pre-tax Internal Rate of Return (“IRR“) is 23% and after-tax IRR is 20%.  The FS estimates cash operating costs for lithium carbonate at US$1,876 per tonne, or US$1,332 per tonne if expressed on a net cash operating cost basis (ie if the cash operating margin benefits of potash are deducted from the cash operating costs of lithium carbonate (which is customary in the mining industry when reporting the costs of the main product vs the by-product)).

The FS was prepared by the independent engineering firm ARA WorleyParsons (“ARAWP“), the hydrogeologic modelling experts AquaResource, a division of Matrix Solutions Inc., (“AQR“), and by hydrogeology expert Groundwater Insight (“GWI“).  The FS builds upon the Company`s Preliminary Economic Assessment, also prepared by ARAWP and GWI and filed in May 2011.  The FS, dated July 11, 2012 and titled Feasibility Study Reserve Estimation and Lithium Carbonate and Potash Production at the Cauchari-Olaroz Salars, Jujuy Province, Argentina, can be found on SEDAR at www.sedar.com.

Approval of Environmental Impact Statement

The Provincial Environmental Agency of Jujuy Province, Argentina has approved the Environmental Impact Statement for the construction of the Company’s Cauchari-Olaroz lithium/potash project.  Lithium Americas has previously obtained definitive mining title as well as secured long term land use agreements with the five aboriginal communities on which its Cauchari-Olaroz reserve estimate was calculated and its project will be built.

Final government approval to proceed with construction and production is expected in Q4 of calendar year 2012, and involves the recommendation of the Provincial Committee of Experts constituted to assess the impact and benefits to the Province of lithium projects.

Change of Financial Year End

The Company has changed its financial year end from February 28 to December 31, resulting in a ten month transitional financial year from February 29, 2012 to December 31, 2012.  This change will allow Lithium Americas to align its financial year end with that of its wholly-owned Argentinean subsidiary, Minera Exar S.A., thereby simplifying accounting and consolidation activities.  It will also align the Company’s financial reporting with its operational and budgeting cycles.  A Notice of Change in Year End has been filed under the Company’s profile on SEDAR at www.sedar.com.

As a result of this change, the Company will not issue interim financial statements as at and for the nine months ended November 30, 2012, in line with its previous financial year end, and will next issue audited annual financial statements as at and for the ten months ended December 31, 2012.

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, VP Corporate Development

mcosic@lithiumamericas.com

416-360-1921

or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 28, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain the satisfactory governmental approvals necessary for the operation of a project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

The mineral reserve and resource figures referred to herein are estimates only and no assurance can be given that the anticipated tonnages and grades/concentrations will be achieved, that the indicated level of recovery will be realized or that mineral reserves could be mined or processed profitably. There are numerous uncertainties inherent in estimating mineral reserves and mineral resources, including many factors beyond the Company’s control. Such estimation is a subjective process, and the accuracy of any reserve or resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and hydrogeological interpretation. In addition, there can be no assurance that lithium and/or potash recoveries in small scale laboratory tests will be duplicated in larger scale tests under on-site conditions or during production. Lower market prices, increased production costs, reduced recovery rates and other factors may result in a revision of its reserve estimates from time to time or may render the Company’s reserves uneconomic to exploit. Reserve data are not indicative of future results of operations. If the Company’s actual mineral reserves and mineral resources are less than current estimates or if the Company fails to develop its resource base through the realization of identified mineralized potential, its results of operations or financial condition may be materially and adversely affected. Evaluation of reserves and resources occurs from time to time and they may change depending on further hydrogeological interpretation, drilling results and mineral prices. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Until mineral reserves and resources are actually mined and processed, the quantity of mineral reserve and resource grades/concentrations must be considered as estimates only. 

 HIGHLIGHTS

• Announced   Completion of Positive Definitive Feasibility Study Confirming Cauchari-Olaroz as One of the World’s Largest and Lowest   Cost Lithium Brine Resources                
• Received   Approval of Environmental Impact Statement. Final Government Approval to   Proceed with Construction and Production Expected in Q4 of Calendar Year 2012  
• Negotiations   with Strategic Partners Regarding Project Financing Have Commenced, and are   Expected to Conclude within Q4 of Calendar Year 2012     or   Early in Calendar Year 2013

TORONTO, Canada, October 15, 2012 – Lithium Americas Corp. (TSX: LAC) (OTCQX: LHMAF) (“Lithium Americas” or the “Company”) today reported that it has filed its interim financial reports, including the unaudited condensed consolidated interim financial statements and management discussion and analysis, as at, and for the three months ended, August 31, 2012. These documents are available in the SEDAR database at www.sedar.com and on the Company’s website www.lithiumamericas.com. All amounts are expressed in Canadian dollars, unless otherwise indicated.

Results For The Period

During the three months ended August 31, 2012, the Company incurred a net loss of $1.2 million (August 31, 2011 – $2.1 million). Loss per share for the quarter amounted to $0.02 compared to $0.03 in the same period of 2011. General and administrative expenses during the first quarter amounted to $0.34 million (August 31, 2011 – $0.47 million), losses on foreign exchange were $0.01 million (August 31, 2011 – $0.07 million), while share-based compensation expense, a non-cash item totalled $0.2 million (August 31, 2011 – $0.6 million).

As at August 31, 2012, the Company had $2.3 million in cash and cash equivalents and positive working capital of $0.7 million, and $8 million available under its stand-by line of credit to fund current operations.

“With our definitive Feasibility Study complete and the pilot plant operational, our attention has been focussed on obtaining final government approval and on securing our project financing,” said Waldo Perez, President and CEO of Lithium Americas.  “The global market for lithium continues to be supported by strong demand for batteries of all sizes, from hand held electronic devices to large scale grid storage, creating upward pressure on lithium carbonate prices. The scale and projected low operating cost of the Cauchari-Olaroz project is expected to make us extremely competitive in this growing market.”

Operational Highlights

During the three months ended August 31, 2012, the Company announced the following significant developments associated with the advancement of its principal property:

Announcement of Definitive Feasibility Study Results

According to the Reserve Estimate outlined in the definitive Feasibility Study (“FS”),  Lithium Americas’ Cauchari-Olaroz property has proven and probable reserves sufficient to operate at a production rate of up to 40,000 tonnes per annum (“TPA”) of lithium carbonate and up to 80,000 TPA of potash for 40 years, which would include an initial five year ramp-up period.  Consistent with the Company’s previously released Preliminary Economic Assessment, Lithium Americas’ business plan is to build the project in two stages, with each stage consisting of a 20,000 TPA lithium carbonate facility and a 40,000 TPA potash facility.  The second stage is not expected to commence until 2018 and it will be the subject of a separate study to be undertaken by the Company. Stage 2 is expected to improve the already robust project financials for stage 1, as outlined in the FS. No estimated financial results associated with stage 2 are included in the FS results identified below.

The FS results identify that Lithium Americas is expected to have one of the largest and lowest cost lithium operations in the industry and calculates a base case pre-tax net present value (“NPV“) of US$738 million, assuming an 8% discount rate, and an after-tax NPV of US$464 million.  The base case pre-tax Internal Rate of Return (“IRR“) is 23% and after-tax IRR is 20%.  The FS estimates cash operating costs for lithium carbonate at US$1,876 per tonne, or US$1,332 per tonne if expressed on a net cash operating cost basis (ie if the cash operating margin benefits of potash are deducted from the cash operating costs of lithium carbonate (which is customary in the mining industry when reporting the costs of the main product vs the by-product)).

The FS was prepared by the independent engineering firm ARA WorleyParsons (“ARAWP“), the hydrogeologic modelling experts AquaResource, a division of Matrix Solutions Inc., (“AQR“), and by hydrogeology expert Groundwater Insight (“GWI“).  The FS builds upon the Company`s Preliminary Economic Assessment, also prepared by ARAWP and GWI and filed in May 2011.  The FS, dated July 11, 2012 and titled Feasibility Study Reserve Estimation and Lithium Carbonate and Potash Production at the Cauchari-Olaroz Salars, Jujuy Province, Argentina, can be found on SEDAR at www.sedar.com.

Approval of Environmental Impact Statement

The Provincial Environmental Agency of Jujuy Province, Argentina has approved the Environmental Impact Statement for the construction of the Company’s Cauchari-Olaroz lithium/potash project.  Lithium Americas has previously obtained definitive mining title as well as secured long term land use agreements with the five aboriginal communities on which its Cauchari-Olaroz reserve estimate was calculated and its project will be built.

Final government approval to proceed with construction and production is expected in Q4 of calendar year 2012, and involves the recommendation of the Provincial Committee of Experts constituted to assess the impact and benefits to the Province of lithium projects.

Change of Financial Year End

The Company has changed its financial year end from February 28 to December 31, resulting in a ten month transitional financial year from February 29, 2012 to December 31, 2012.  This change will allow Lithium Americas to align its financial year end with that of its wholly-owned Argentinean subsidiary, Minera Exar S.A., thereby simplifying accounting and consolidation activities.  It will also align the Company’s financial reporting with its operational and budgeting cycles.  A Notice of Change in Year End has been filed under the Company’s profile on SEDAR at www.sedar.com.

As a result of this change, the Company will not issue interim financial statements as at and for the nine months ended November 30, 2012, in line with its previous financial year end, and will next issue audited annual financial statements as at and for the ten months ended December 31, 2012.

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, VP Corporate Development

mcosic@lithiumamericas.com

416-360-1921

or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 28, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain the satisfactory governmental approvals necessary for the operation of a project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

The mineral reserve and resource figures referred to herein are estimates only and no assurance can be given that the anticipated tonnages and grades/concentrations will be achieved, that the indicated level of recovery will be realized or that mineral reserves could be mined or processed profitably. There are numerous uncertainties inherent in estimating mineral reserves and mineral resources, including many factors beyond the Company’s control. Such estimation is a subjective process, and the accuracy of any reserve or resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and hydrogeological interpretation. In addition, there can be no assurance that lithium and/or potash recoveries in small scale laboratory tests will be duplicated in larger scale tests under on-site conditions or during production. Lower market prices, increased production costs, reduced recovery rates and other factors may result in a revision of its reserve estimates from time to time or may render the Company’s reserves uneconomic to exploit. Reserve data are not indicative of future results of operations. If the Company’s actual mineral reserves and mineral resources are less than current estimates or if the Company fails to develop its resource base through the realization of identified mineralized potential, its results of operations or financial condition may be materially and adversely affected. Evaluation of reserves and resources occurs from time to time and they may change depending on further hydrogeological interpretation, drilling results and mineral prices. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Until mineral reserves and resources are actually mined and processed, the quantity of mineral reserve and resource grades/concentrations must be considered as estimates only. 

TORONTO, Canada, August 15, 2012 – Lithium Americas Corp. (TSX: LAC) (OTCQX: LHMAF) (“Lithium Americas” or the “Company”), is pleased to announce that the Provincial Environmental Agency of Jujuy Province, Argentina (“UGAM”) has recommended approval of the Environmental Impact Statement (“EIS”) for the construction of the Company’s Cauchari-Olaroz lithium/potash project.  Lithium Americas has previously obtained definitive mining title as well as secured long term land use agreements with the five aboriginal communities on which its Cauchari-Olaroz mine will be built and the reserve estimate is calculated.

Following the UGAM recommendation for approval, the project proposal is now being reviewed by the Provincial Committee of Experts for submission to the Governor of Jujuy for final construction approval. This is the only remaining administrative step required to be fully permitted to build and operate the Company’s lithium/potash project in the province of Jujuy.

“Receiving approval from UGAM for our EIS is a key milestone in the final permitting process for the Cauchari-Olaroz project,” stated Dr. Waldo Perez, President and CEO of Lithium Americas. “We have continued to work closely with the Committee of Experts and all the agencies involved in the permitting process during the EIS approval, as proven by the short period between submission of the EIS in December 2011 to UGAM and their positive recommendation 8 months after. We anticipate receiving the Committee of Experts recommendation for the project in the near term. We are very pleased to have the sign-off from all the members of UGAM and appreciate their diligence throughout the process.”

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study indentified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, VP Corporate Development

mcosic@lithiumamericas.com

416-360-1921

or visit www.lithiumamericas.com

Cautionary Note and Forward-looking statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 26, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain the satisfactory governmental approvals necessary for the operation of a project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

As reported in the Company’s June 18th, 2012 news release, the reserve estimate outlined in the FS shows that the project has proven and probable reserves sufficient to operate at a production rate of up to 40,000 tonnes per annum (“TPA”) of lithium carbonate and up to 80,000 TPA of potash for 40 years, which would include an initial five year ramp-up period. Lithium Americas expects to build the project in two stages, with each stage consisting of a 20,000 TPA lithium carbonate facility and a 40,000 TPA potash facility.  The FS focuses on the first stage of the project only.  Stage 1 highlights from the FS and Reserve and Resource summaries are provided in the following tables:

FS BASE CASE HIGHLIGHTS
Stage 1 – 20,000 TPA Lithium Carbonate and 40,000 TPA Potash Production
Pre-Tax Net Present Value @ 8% Discount Rate  US$ 738 million
Pre-Tax Internal Rate of Return  23%
Net Cash Operating Costs (per tonne of Lithium Carbonate)* US$ 1,332
Project Revenue US$ 6.6 billion
Project EBITDA** US$ 4.3 billion or 65%
Initial Capital Expenditure (lithium) US$ 269 million
Initial Capital Expenditure (potash) US$ 45 million
Revenue Generation Commences  Year 2015

* Cash operating margin benefits of potash are deducted from the cash operating costs of lithium carbonate
** EBITDA is defined as net income before income tax expense, depreciation and amortization, and net interest expense

Mineral Reserves and Resources
Lithium Reserve and Resource Summary (354 mg/L cut-off)
Description                                mg/L           Lithium (tonnes)           Lithium Carbonate (tonnes)           Brine (m³)
Proven Reserves                          679                37,000                             197,000                            5.50 x 107
Probable Reserves                       665                477,000                           2,517,000                         7.16 x 108
Updated Measured Resource        630                576,000                           3,039,000                          9.14 x 108
Updated Indicated Resource         570                1,650,000                        8,713,000                          2.89 x 109

Potassium Reserve and Resource Summary
Description                                mg/L           Potassium (tonnes)               Potash (tonnes)                    Brine (m³)
Proven Reserves                        5,483                 302,000                               576,000                          5.50 x 107
Probable Reserves                     5,395               3,863,000                             7,378,000                        7.16 x 108
Updated Measured Resource      5,156               4,714,000                             9,003,000                        9.14 x 108
Updated Indicated Resource       4,753              13,755,000                           26,271,000                        2.89 x 109

“In a very short time, we have achieved every significant milestone at Cauchari-Olaroz on time and on budget. We have identified, defined, and confirmed one of the largest lithium resources in the world with one of the lowest projected operating costs in the industry.  Our teams in Argentina and Canada have done an excellent job in driving this project forward. We now turn our attention to the next set of milestones which will move the project into the construction and production phases,” stated Dr. Waldo Perez, President and CEO of Lithium Americas.

Permitting and Land Use Agreements

Lithium Americas completed and submitted its Environmental Impact Statement (“EIS”) for approval to the Director of Mines and Energy Resources for the Province of Jujuy in December 2011 and is currently working with the Committee of Experts, the Minister of Production, and the Provincial Environmental Agency in order to obtain final government approval of the EIS in a timely manner.

A presentation was made to the Minister of Production and the Provincial Environmental Agency of Jujuy on July 17th, 2012 and, as is normal procedure, a series of written questions was presented to Lithium Americas.  Lithium Americas has responded to these questions, and anticipates final approval to be granted within a few weeks. After receiving approval for the EIS, the Committee of Experts is expected to provide the final approval of the project.

The EIS, with the Committee of Experts’ approval, is the only outstanding permit required by the Company to build and operate its lithium/potash project.  Lithium Americas has already secured long-term land use agreements with the five aboriginal communities on which its Cauchari-Olaroz reserve estimate is calculated. 

Next Steps

The FS concludes that the Cauchari-Olaroz lithium and potash project has favourable economic potential.  Its low operating cost and large brine reserves compare very favourably to existing lithium carbonate producers, and suggest that Lithium Americas has the potential to become one of the largest and lowest cost lithium operations in the world. Next steps for the project include:
• Detailed engineering
• Receipt of final environmental permit
• Negotiation of project financing and off-take agreements with strategic partners and potential customers

Qualified Persons

The FS was prepared in accordance with NI 43-101 standards by ARA WorleyParsons, Groundwater Insight, and AquaResource (a division of Matrix Solutions Inc.), in conjunction with a team of globally recognized consultants. The three independent qualified experts that lead the team of consultants are:

• Roger Kelley, Chemical Engineer registered as a Fellow with the South African Institute of Mining and Metallurgy is the independent qualified person signing the report for ARA WorleyParsons.
• Mark King, Ph.D., P.Geo. a Canadian Professional Geoscientist registered with the Association of Professional Geoscientists of Nova Scotia is the independent qualified person signing the report for Groundwater Insight.
• Daron Abbey, M.Sc., P.Geo. a Canadian Professional Geoscientist registered with the Association of Professional Geoscientists of Ontario is the independent qualified person signing the report for AquaResource.

These three professionals have reviewed and approved this press release.

About the Company
Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and a completed definitive Feasibility Study indicates that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, VP Corporate Development
mcosic@lithiumamericas.com
416-360-1921
or visit www.lithiumamericas.com

Cautionary Note and Forward-looking statements
This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 28, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain the satisfactory governmental approvals necessary for the operation of a project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.
The mineral reserve and resource figures referred to herein are estimates only and no assurance can be given that the anticipated tonnages and grades/concentrations will be achieved, that the indicated level of recovery will be realized or that mineral reserves could be mined or processed profitably. There are numerous uncertainties inherent in estimating mineral reserves and mineral resources, including many factors beyond the Company’s control. Such estimation is a subjective process, and the accuracy of any reserve or resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and hydrogeological interpretation. In addition, there can be no assurance that lithium and/or potash recoveries in small scale laboratory tests will be duplicated in larger scale tests under on-site conditions or during production. Lower market prices, increased production costs, reduced recovery rates and other factors may result in a revision of its reserve estimates from time to time or may render the Company’s reserves uneconomic to exploit. Reserve data are not indicative of future results of operations. If the Company’s actual mineral reserves and mineral resources are less than current estimates or if the Company fails to develop its resource base through the realization of identified mineralized potential, its results of operations or financial condition may be materially and adversely affected. Evaluation of reserves and resources occurs from time to time and they may change depending on further hydrogeological interpretation, drilling results and mineral prices. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Until mineral reserves and resources are actually mined and processed, the quantity of mineral reserve and resource grades/concentrations must be considered as estimates only.

HIGHLIGHTS

TORONTO, Canada, July 13, 2012 – Lithium Americas Corp. (TSX: LAC,OTCQX: LHMAF) (“Lithium Americas” or the “Company”) today reported that it has filed its interim financial reports, including the unaudited condensed consolidated interim financial statements and management discussion and analysis, as at, and for the three months ended, May 31, 2012. These documents are available in the SEDAR database at www.sedar.com and on the Company’s website www.lithiumamericas.com. All amounts are expressed in Canadian dollars, unless otherwise indicated.

Results For The Period

During the three months ended May 31, 2012, the Company incurred a net loss of $0.79 million (May 31, 2011 – $0.81 million). Loss per share for the quarter amounted to $0.01 compared to $0.01 in the same period of 2011. General and administrative expenses during the first quarter amounted to $0.45 million (May 31, 2011 – $0.43 million), gains on foreign exchange were $0.54 million (May 31, 2011 – $0.6 million), while share-based compensation expense, a non-cash item totalled $0.28 million (May 31, 2011 – $0.36 million).

Total property rights, exploration and evaluation expenditures incurred by the Company during the period totalled $3.6 million. As at May 31, 2012, a total of $46.6 million has been invested in the Cauchari-Olaroz lithium project in Argentina. As at May 31, 2012, the Company had $3 million in cash and cash equivalents and positive working capital of $0.5 million. The Company also has an undrawn $10 million standby line of credit available to fund current operations.

“From commencement of the project only three years ago and by delivering on every milestone that was set, we are now at the stage where every company aspires to be when they first start their mineral exploration program,” said Waldo Perez, President and CEO of Lithium Americas.  “We have a positive feasibility study that confirms our project as one of the most advanced, largest and lowest cost lithium projects in the world, attracted strategic shareholders such as Mitsubishi Corporation and Magna International, and the funds to continue to move the project towards production.  We are extremely excited to unlock the tremendous value associated with our project, and are now focussed on our two major milestones of obtaining our Environmental Impact Statement permit, which is the final permit in order to commence production, and securing project finance.”

Operational Highlights

During the three months ended May 31, 2012, and up to the date of this press release, the Company announced the following significant development associated with the advancement of its principal property:

Announcement of Definitive Feasibility Study Results

Lithium Americas announced the results of its definitive Feasibility Study (“FS”) on June 18^th, 2012.

The FS was prepared by the independent engineering firm ARA WorleyParsons (“ARAWP“), the hydrogeologic modelling experts AquaResource, a division of Matrix Solutions Inc., (“AQR“), and by hydrogeology expert Groundwater Insight (“GWI“).  The FS builds upon the Company`s Preliminary Economic Assessment (“PEA“), also prepared by ARAWP and GWI and filed in May 2011.  According to the Reserve Estimate outlined in the FS, Lithium Americas’ Cauchari-Olaroz property has proven and probable reserves sufficient to operate at a production rate of up to 40,000 tonnes per annum (“TPA”) of lithium carbonate and up to 80,000 TPA of potash for 40 years, which would include an initial five year ramp-up period.  Consistent with the Company’s previously released PEA, Lithium Americas’ business plan is to build the project in two Stages, with each Stage consisting of a 20,000 TPA lithium carbonate facility and a 40,000 TPA potash facility.  ARAWP has developed the Stage 1 results at a FS level (± 15% error). Construction of the second Stage is not expected to commence until 2018 and it will be the subject of a separate study to be undertaken by the Company. Stage 2 is expected to improve the already robust project financials for Stage 1, as outlined in the FS. No estimated financial results associated with Stage 2 are included in the FS results identified below.

The FS calculates a base case pre-tax net present value (“NPV“) of US$738 million, assuming an 8% discount rate, and an after-tax NPV of US$464 million.  The base case pre-tax Internal Rate of Return (“IRR“) is 23% and after-tax IRR is 20%.  The FS estimates cash operating costs for lithium carbonate at US$1,876 per tonne, or US$1,332 per tonne if expressed on a net cash operating cost basis (ie if the cash operating margin benefits of potash are deducted from the cash operating costs of lithium carbonate, which is customary when reporting the costs of the main product versus the by-product).

The FS results identify that Lithium Americas is expected to have one of the largest and lowest cost lithium operations in the industry.

About the Company

Lithium Americas is developing one of the world’s largest and lowest cost lithium operations.   The Company has defined the world’s third largest lithium brine resource, and its announced definitive Feasibility Study results identified that Lithium Americas’ operating cost per tonne of lithium carbonate is expected to be one of the lowest in the industry.  Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas.

For more information please contact:

Mike Cosic, VP Corporate Development

mcosic@lithiumamericas.com

416-360-1921

or visit www.lithiumamericas.com

Cautionary Note and Forward-Looking Statements

This press release contains forward looking statements, which can be identified by the use of statements that include words such as “plan”, “developing”, “estimate”, “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “likely”, “will” or other similar words or phrases. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resource and reserve estimates, grade/concentration or recovery rates, lithium or potash prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated or other unanticipated difficulties or interruptions; political, community relations, regulatory, environmental and other risks of the mining industry and other risks more fully described in the Company’s Annual Information Form dated May 28, 2012 and its most recent management’s discussion and analysis available on SEDAR. The Cauchari-Olaroz project has no operating history upon which to base estimates of future cash flow. The capital expenditures and time required to develop any new project is considerable and changes in capital and/or operating costs or construction schedules can affect project economics. It is possible that actual capital and/or operating costs may increase significantly and economic returns may differ materially from the Company’s estimates or that prices of lithium and/or potash may decrease significantly or that the Company could fail to obtain the satisfactory governmental approvals necessary for the operation of a project or obtain project financing on acceptable terms and conditions or at all, in which case, the project may not proceed either on its original timing or at all. It is not unusual in the mining industry for new mining operations to experience unexpected problems during the start-up phase, resulting in delays and requiring more capital than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results to be materially different from those planned, estimated, forecasted, projected or expected. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward looking statements.

The mineral reserve and resource figures referred to herein are estimates only and no assurance can be given that the anticipated tonnages and grades/concentrations will be achieved, that the indicated level of recovery will be realized or that mineral reserves could be mined or processed profitably. There are numerous uncertainties inherent in estimating mineral reserves and mineral resources, including many factors beyond the Company’s control. Such estimation is a subjective process, and the accuracy of any reserve or resource estimate is a function of the quantity and quality of available data and of the assumptions made and judgments used in engineering and hydrogeological interpretation. In addition, there can be no assurance that lithium and/or potash recoveries in small scale laboratory tests will be duplicated in larger scale tests under on-site conditions or during production. Lower market prices, increased production costs, reduced recovery rates and other factors may result in a revision of its reserve estimates from time to time or may render the Company’s reserves uneconomic to exploit. Reserve data are not indicative of future results of operations. If the Company’s actual mineral reserves and mineral resources are less than current estimates or if the Company fails to develop its resource base through the realization of identified mineralized potential, its results of operations or financial condition may be materially and adversely affected. Evaluation of reserves and resources occurs from time to time and they may change depending on further hydrogeological interpretation, drilling results and mineral prices. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Until mineral reserves and resources are actually mined and processed, the quantity of mineral reserve and resource grades/concentrations must be considered as estimates only.