Exploration Programs

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• Surface Brine Program - Brine samples were collected from shallow pits throughout the salt lakes to obtain a preliminary indication of lithium occurrence and distribution. A total of 55 samples were collected for laboratory analyses with most showing concentrations between  approximately 200 and 2,150 mg/L Li.

• Seismic Geophysical Program – A seismic survey was conducted to support delineation of basin geometry, mapping of basin-fill sequences, and locating future borehole sites. A total of 24.7 km of seismic data have been acquired along seven lines.

• Approximately 2,613m of drilling has been completed to date through the following drilling programs.

• Reverse Circulation (“RC”) Borehole Program - Dual tube reverse circulation drilling is being conducted to develop vertical profiles of brine chemistry at depth in the salt lakes and to provide geological and hydrogeological data. Nine RC boreholes have been drilled for a total of 1,333 metres. 760 brine samples were collected for laboratory chemical analyses.
  
• Diamond Drilling (“DD”) Borehole Program – This program is being conducted to collect continuous cores for geotechnical testing (porosity, grain size and density) and geological characterization. Five DD boreholes have been drilled to date for a total of 1,280 metres. 113 undisturbed samples have been collected for geotechnical analyses. The boreholes were completed as observation wells for future brine sampling and monitoring.

• An inferred in situ resource estimate was prepared, based on the integration, analyses and interpretation of results from the above outlined exploration programs. The following resource tonnages are indicated within 1,599,000,000 m3 of brine:
  
• 4.9 million tonnes of lithium carbonate (or 926,000 tonnes of lithium metal) and
• 7.7 million tonnes of potassium.

This inferred resource estimate is limited to only approximately one-third of the Cauchari and Olaroz  property package, with all drill holes still open at depth.

NI 43-101 Report

An inferred in situ resource estimate was developed using the Vulcan three-dimensional block modelling software and the inverse square distance method.  The modelling was supported by geological, hydrogeological and geochemical data and interpretations provided by the Corporation’s experts. The modelling procedure and results were reviewed in detail by Mark King of Groundwater Insight, the Author of the Technical Report entitled  “Amended Inferred Resource Estimation of Lithium and Potassium at the Cauchari and Olaroz Salars, Jujuy Province, Argentina” dated effective February 15, 2010.  The results are considered valid and appropriate for development of an inferred resource estimate, as defined by the CIM and referenced by NI 43-101. Mark King is a “qualified person” and “independent” of Lithium Americas as defined in NI 43-101.

As shown in the chart below, Lithium Americas’ inferred resource estimate compares favourably with the largest known lithium brine deposits to date.  

(1) The Economics of Lithium, Eleventh Edition, 2009, Roskill Information Services Ltd. 

(2) Orocobre Limited website, http://www.orocobre.com.au, April 29, 2009 press release.