Lithium Americas Corp.

Lithium Americas Corp.

June 20, 2011 08:00 ET

W. Thomas Hodgson Appointed Chairman of the Board of Lithium Americas and John Kanellitsas Elected as Director

TORONTO, ONTARIO--(Marketwire - June 20, 2011) - Lithium Americas Corp. (TSX:LAC) ("Lithium Americas" or the "Company"), is pleased to announce that W. Thomas Hodgson has been appointed Non-Executive Chairman of the Board of the Company. Mr. Hodgson succeeds Basil Botha as Chairman. Mr. Botha did not stand for re-election in order to pursue other interests. Joining the Board in place of Mr. Botha is John Kanellitsas. Mr. Kanellitsas is the Chief Operating Officer of Geologic Resource Partners LLC, the Company's largest shareholder.

Mr. Hodgson has been a Director of Lithium Americas since January 2010 and is Senior Partner and Chairman of Greenbrook Capital Partners Inc., a financial advisory firm. He was formerly a consultant and advisor to the Chairman of Magna International, one of the world's largest automotive suppliers. Mr. Hodgson has over twenty years experience in capital markets research, corporate advisory matters and consulting. He is currently a director of Helix Biopharma Corp. and Liberty Silver Corp. Mr. Hodgson has held senior positions with U.K. companies and Canadian financial institutions including the Canadian Imperial Bank of Commerce, Canada Permanent Trust Co. and Central Guaranty Trust, where he served as President and Chief Executive Officer.

Mr. Kanellitsas is the Chief Operating Officer of Geologic Resource Partners, an investment manager focusing on global mining and metals resource industries. He has worked in financial markets and asset management for over two decades with positions at prominent investment banks and money management firms in San Francisco, New York and Sun Valley, Idaho. He has been a director of numerous private and public companies and currently serves as Co-Chairman of the Board of Kiska Metals Corporation. Mr. Kanellitsas has a Masters of Business Administration from University of California at Los Angeles and a BS degree in Mechanical Engineering from Michigan State University.

"On behalf of Lithium Americas, I would like to congratulate Tom on his appointment as Chairman and welcome John to the Board of Directors," stated Dr. Waldo Perez, President and CEO of Lithium Americas. "We would also like to thank Basil for his many contributions during his tenure as Director and Chairman and wish him the best in his future endeavours."

Annual General Meeting

The Company held its annual general meeting of shareholders (AGM) on June 15, 2011 in Toronto. In addition to Messrs. Hodgson and Kanellitsas, the following Directors were re-elected to the Company's Board: Waldo Perez, David D'Onofrio, Constantine Karayannopoulos, Franco Mignacco, George E. Pirie, and Douglas Reeson. All other items on the agenda were passed.

After the formal portion of the AGM, Dr. Perez, Hugo Barrientos, the Company's Chief Engineer, and Alberto Messidoro, Community Relations Director, provided an overview and update on the Cauchari lithium project the Company is currently developing in Argentina. Lithium Americas recently filed a preliminary economic assessment completed on the project by ARA WorleyParsons identifying the NPV pre-tax value at $983 million (8% discount rate). Dr. Perez reported that the project remains on schedule and that the Company was currently engaged in completing the production well pump tests, a critical step in upgrading the measured and indicated resource to a proven reserve and a key component of the definitive feasibility study which is scheduled for completion by March 31, 2012. Dr Perez noted that initial data from the pump tests indicated flow rates in the 20 litre per second range, which were better than expected. Mr. Messidoro noted that the Company's permits were all in good standing and was currently preparing well in advance for the next required submissions.

About the Company

Lithium Americas is developing one of the world's largest and lowest cost lithium operations. The Company's principal property comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 82,498 hectares 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 Company's principal property hosts the 3rd largest lithium brine resource in the world. The Company's recently completed Preliminary Economic Assessment identifies a pre-tax NPV of US$983Million (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.

This press release contains forward looking statements, which can be identified by the use of statements that includewords such as "developing", "estimate", "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similarwords 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 resources, grade or recovery rates, lithium 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 prospectus dated May 6, 2010 and its most recent management's discussion and analysis available on SEDAR. 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-lookingstatements, 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.

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