Lithium Americas Corp.

Lithium Americas Corp.

August 04, 2011 16:59 ET

Lithium Americas Corp. Appoints Omar Salas as Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - Aug. 4, 2011) - Lithium Americas Corp. (TSX:LAC)(OTCQX:LHMAF) ("Lithium Americas" or the "Company") is pleased to announce that Omar Salas has been appointed Chief Financial Officer of Lithium Americas succeeding Ian Fodie, who has left the Company.

Mr. Salas is a financial executive with extensive international experience in the mining industry including leading and advising corporations through successful international expansion, restructuring and capital market transactions. Mr. Salas has extensive experience in South America, a solid regulatory background and expertise in mergers and acquisitions, project development and financing. He is fluent in English, French and Spanish. His past management and finance experience includes eight years with Placer Dome, one of the world's largest and most successful mining companies. Mr. Salas received his Masters of Business Administration from McGill University and is a Certified Management Accountant.

Dr. Waldo Perez, President and CEO of Lithium Americas, commented "I would like to welcome Omar to the Lithium Americas team. I would also like to thank Ian for his service to the Company, and wish him well in his future endeavours."

About the Company

Lithium Americas is developing one of the world's largest and lowest cost lithium operations. The Company's Cauchari-Olaroz Lithium Project comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 82,498 hectares located in the "Lithium Triangle" region of South America. This region contains over 80% of the world's lithium brine reserves. To the best knowledge of Lithium Americas, the Cauchari-Olaroz Lithium Project hosts the 3rd largest known lithium brine resource in the world. The Company's recently completed Preliminary Economic Assessment identifies a pre-tax NPV of $983 million (8% discount), and operating expenses which are 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.

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