Lithium Americas Corp.

Lithium Americas Corp.

September 16, 2009 08:00 ET

Lithium Americas Corp. Signs Agreement With Borax Argentina S.A., to Acquire 4,628 ha at the Cauchari-Olaroz Salt Lakes Lithium Brine Project

TORONTO, ONTARIO--(Marketwire - Sept. 16, 2009) - Lithium Americas Corp. reports that it has signed an agreement with Borax Argentina S.A., a Rio Tinto subsidiary, to acquire the rights to exploit subsuface lithium and potash brines at the Borax Argentina S.A. properties in the Cauchari salt lake, Jujuy Province, Argentina. The properties encompass a total of 4,628 ha. Borax Argentina S.A. will continue mining borax at surface.

"Increasing our property land package is a fundamental step in the development of the project" said Dr. Waldo Perez, CEO and President of Lithium Americas Corp. "From the results of surface sampling we are confident that the lithium/potash brine composition has the right grade to be minable. The next step is to confirm that there is lithium/potash brine at depth and determine the volume of lithium/potash brine that is available. When it comes to brines (a liquid), the more surface area that is owned the more volume potential that exists. Accordingly, those that own sufficient surface area will eventually be able to put the project into production at an economic scale. Given Lithium Americas' predominant land position at the Cauchari - Olaroz salt lakes, we feel confident that this project can quickly move to production with strong economics."

Lithium Americas continues to advance the 3D tomography seismic model of the Cauchari - Olaroz salt lakes and is completing road access to drill the properties this month.

Lithium Americas is a junior exploration and development company focused on the exploration and development of Lithium, Potash, Borax and other industrial minerals in South America. Lithium Americas Corp. is managed by accomplished professionals with a proven track record of discovery, a deep knowledge of South American geology and an extensive network of high-level and strategic relationships throughout the continent. Latin American Minerals Inc. (TSX VENTURE:LAT) (www.latinamericanminerals.com) is the largest shareholder of Lithium Americas Corp.

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