Lithium Americas a Platinum Sponsor at the Lithium in South America International Seminar in Jujuy, Argentina-June 12 & 13,
Lithium Americas a Platinum Sponsor at the Lithium in South America International Seminar in Jujuy, Argentina-June 12 & 13, 2013
Ranked 2nd Best Undeveloped Lithium Brine Project in the World
TORONTO, ONTARIO -- (Marketwired) -- 05/29/13 -- Lithium Americas Corp. (TSX:LAC) ("Lithium Americas" or the "Company") is pleased to announce that it is a Platinum Sponsor at the Lithium in South America International Seminar being held in Jujuy, Argentina on June 12 and 13, 2013. The seminar will be attended by a number of international investors, suppliers, and consumers of lithium. Seminar attendees will be invited to participate in a site visit of Lithium Americas' Cauchari-Olaroz lithium project and pilot plant operation. More information on the seminar can be found on the seminar's website www.litioensudamerica.com.ar/index_ingles.htm.
Franco Mignacco, Lithium Americas' Vice-Chairman commented: "This is a great opportunity for international investors to visit the province of Jujuy and witness first hand why the province has experienced such remarkable growth in the mining industry in recent years. Given the seminar will be attended by a broad range of industry participants, investors will be able to see the lithium industry working in a fully co-operative and mutually-supportive way."
The Company is also pleased to report that according to the most recent independent findings of signumBOX, a Chilean based consulting firm with extensive experience in the lithium industry, Lithium Americas' Cauchari-Olaroz project is ranked the 2nd best undeveloped lithium brine project in the world out of 47 brine projects evaluated. Additionally, according to the signumBOX results, Jujuy province in Argentina is the home of the top two undeveloped lithium brine projects in the world. John Kanellitsas, Lithium Americas' Interim CEO commented: "We are pleased to see the high relative ranking in the signumBOX analysis as it is consistent with our view that Cauchari- Olaroz represents a project of world-class scale, with a low cost profile, and outstanding infrastructure that exists within the Jujuy province."
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 statements.
Contacts: Lithium Americas Corp. Mike Cosic Chief Financial Officer 416-360-1921 firstname.lastname@example.org www.lithiumamericas.com