Lithium Americas Announces Changes to Executive Management Team

Lithium Americas Announces Changes to Executive Management Team 
Provides Update on Project Financing Discussions 
TORONTO, ONTARIO -- (Marketwired) -- 05/08/13 -- Lithium Americas
Corp. (TSX:LAC) ("Lithium Americas" or the "Company") today announced
changes to its executive management team: 

--  Dr. Waldo Perez will be stepping down formally as President and CEO, and
    as a Director, at the Company's annual general meeting ("AGM") on June
    14, 2013, to pursue other business interests. 
--  John Kanellitsas, a Director of the Company, has been appointed Interim
    President and CEO. 
--  Franco Mignacco, a Director of the Company, has been appointed Vice
    Chairman of Lithium Americas, and President of Minera Exar, LAC's
    operating subsidiary in Argentina. 

Dr. Perez has been President and CEO of Lithium Americas since its
inception in 2009. Under his direction, the Company achieved numerous
significant milestones including; a $45 million IPO on the Toronto
Stock Exchange in May 2010; completing an extensive drilling program
which resulted in the Company identifying the third largest lithium
brine resource in the world; completing a definitive Feasibility
Study identifying the Company's Cauchari-Olaroz project as one of the
lowest cost lithium projects in the world; and obtaining all
necessary government permits to commence project construction. 
Tom Hodgson, Lithium Americas' Executive Chairman, stated: "On behalf
of the Board, I would like to thank Waldo for his major
contributions, and wish him success in his new ventures. I am also
pleased to announce the formation of a new senior management team.
John Kanellitsas has been serving as the Chairman of the Executive
Committee leading efforts to identify strategic partners and is well
suited for the Interim CEO position. I am also very pleased that our
Argentinean director, Franco Mignacco, has been willing to accept the
role of Vice Chairman of LAC, and President of our principal
operating subsidiary which will build out the Cauchari-Olaroz lithium
John Kanellitsas has been a Director of the Company since 2011, and
is the Chief Operating Officer of Geologic Resource Partners, LLC
("Geologic"). Geologic is the manager of several investment funds
focused on metals and mining sectors and is the largest shareholder
of Lithium Americas. In accepting the appointment as Interim
President and CEO, Mr. Kanellitsas stated: "This is an incredibly
exciting time to be investing in the lithium sector as we believe
lithium demand will continue to grow significantly from rapid
advances in battery technologies related to, among other things,
electric vehicles and grid storage applications. I look forward to
continuing our discussions with potential strategic partners in order
to finalize project financing arrangements and to develop this world
class resource in the Jujuy Province of Argentina. Achieving these
milestones should unlock tremendous shareholder value." 
Franco Mignacco has been a Director of the Company since 2009, and he
and his family are major shareholders of Lithium Americas, owning
approximately 6% of the Company's shares outstanding. A respected
business leader in Jujuy, Argentina, where he resides, Mr. Mignacco
played an instrumental role in obtaining the final government permits
required to commence construction of the Company's Cauchari-Olaroz
lithium project. In assuming the role of Vice Chairman of Lithium
Americas, and President of Minera Exar, Mr. Mignacco will continue to
oversee relations with the government and the local communities, and
will oversee the Cauchari-Olaroz project development through the
construction phase. "My family has been a long term investor and
supporter of LAC and I look forward to leading the Argentinean
efforts and working alongside all of the LAC stakeholders. This is a
very special project that will benefit the people of Jujuy province
for many generations." 
Update on Project Financing 
The Company is also providing an update on its project financing
discussions. In November 2012, the Company announced the creation of
an Executive Committee to oversee financing proposals and to manage
discussions with current and prospective strategic partners. Since
that time, the Company has had numerous parties review the contents
of its data room, participate in site visits, and have extensive due
diligence discussions with Company management and the Executive
Committee. Despite the difficult financing climate facing the global
junior resource sector, the Company is pleased to report that its
process has generated strong and continuing interest from a number of
potential partners (based in Asia, Europe, North America, and South
America) that are in various stages of due diligence. "We are
committed to running a thorough and professional process in order to
execute a financing arrangement which will maximize shareholder
value," stated Mr. Hodgson. "We are hopeful to be in a position to
provide more specific detail on our project financing discussions in
the near future." 
About the Company 
Lithium Americas is developing one of the world's largest and lowest
cost lithium operations. The Company has defined the world's third
largest lithium brine resource, and a completed definitive
Feasibility Study identified that Lithium Americas' operating cost
per tonne of lithium carbonate is expected to be 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. 
Cautionary Note and Forward-Looking Statements 
This press release contains forward-looking statements, which can be
identified by the use of statements that include words such as
"plan", "developing", "estimate", "could", "potential", "believe",
"expect", "anticipate", "intend", "likely", "will", "commence",
"future" or other similar words 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 resource and reserve estimates, grade/concentration or
recovery rates, lithium or potash 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 Annual
Information Form dated March 28, 2013 and its most recent
management's discussion and analysis available on SEDAR. The
Cauchari-Olaroz lithium project has no operating history upon which
to base estimates of future cash flow. The capital expenditures and
time required to develop any new project is considerable and changes
in capital and/or operating costs or construction schedules can
affect project economics. It is possible that actual capital and/or
operating costs may increase significantly and economic returns may
differ materially from the Company's estimates or that prices of
lithium and/or potash may decrease significantly or that the Company
could fail to obtain or maintain governmental approvals necessary for
the operation of its project or obtain project financing on
acceptable terms and conditions or at all, in which case, the project
may not proceed either on its original timing or at all. It is not
unusual in the mining industry for new mining operations to
experience unexpected problems during the start-up phase, resulting
in delays and requiring more capital than anticipated.  
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-looking
statements, 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
Lithium Americas Corp.
Mike Cosic
Chief Financial Officer
Press spacebar to pause and continue. Press esc to stop.