The Energy Report

Lithium Americas Corp. TICKER: LAC:TSX; LHMAF:OTCQX Visit Company Website Lithium Americas Corp. has identified the world's third-largest lithium-brine resource. A preliminary economic assessment identifies lithium carbonate operating costs of US$1,434/mt (prior to expected potash by-product credits), suggesting that the company has the potential to become the world's lowest-cost lithium producer. Lithium Americas is working on completing its definitive feasibility study. Mitsubishi Corporation and Magna International are shareholders and have off-take arrangements with the company.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Nick Morton, Stifel Nicolaus (2/16/12) "We are initiating coverage of Lithium Americas Corp. with a Buy rating and a CA$3.20 target price. . . the company has attractive economics for its flagship Cauchari-Olaroz project based on its preliminary economic assessment (PEA). The flagship project has a large resource potential (over 40-year potential mine life), competitive grades compared to other lithium brine projects in Argentina. . .and attractive forecast cash-operating costs of US$1,434/mt for lithium carbonate (based on the PEA) compared to hard-rock lithium miners that have costs of approximately US$3,000+/mt."

Matt Gowing, Mackie Research (2/7/12) "We visited Lithium Americas Corp.'s lithium-potash brine project, Cauchari-Olaroz, located in the Puna Plateau of Argentina. . .our recent site tour increased our conviction that the company is on track to commercialize one of the world's largest and lowest cost lithium-potash brine projects. What was immediately apparent in traveling to the Cauchari-Olaroz project site was the favorable infrastructure surrounding the site. . .Lithium Americas has made considerable progress developing its hydrogeological model, and this work will be integral in completion of the reserve estimate by the end of Q112."

Ken Chernin, Jennings Capital (1/25/12) "Lithium Americas Corp. has made considerable progress on its flagship lithium/potash brine project, Cauchari-Olaroz, in Argentina. . .95% purity KCL has been successfully produced from Cauchari-Olaroz's potash-rich salts. It is expected that ~2 mt potash will be produced for each mt of lithium carbonate. . .with the inclusion of potash, we believe Lithium Americas could very well be one of the lowest cost lithium brine operations in the world."

Joyanta Acharjee, Proactiveinvestors (1/11/12) "Lithium Americas Corp. has secured a $10M standby credit facility from a syndicate of lenders composed of Geologic Resource Partners LLC, Pinetree Capital Ltd and PowerOne Capital Markets Ltd. Each of the lenders is currently a significant shareholder of Lithium Americas, collectively owning approximately 38% of outstanding shares. . .under the credit facility, Lithium Americas has the ability to draw down amounts in increments of $2M, with repayment of any draw down to be made by January 6, 2015. . .as of August 31, 2011, the company had $15.5M in cash and no debt."

Jonathan Lee, Byron Capital Markets (1/5/12) "W. Thomas Hodgson was appointed the executive chairman of the board of directors from being a director of Lithium Americas Corp.; his wealth of experience in the capital markets, his knowledge of mergers and acquisitions (M&A) transactions and joint ventures will help the strong management team the company has in place. . .the appointment of a financial powerhouse to executive chairman illustrates that Lithium Americas is keen on finding ways to build shareholder value, whether it be continuation of its relationship with its two strategic shareholders or finding additional joint ventures and/or M&A partners."

• Corporate Fact Sheet (11/11/11)
• Corporate Presentation (11/11/11)

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