May 8, 2020 - Vancouver, Canada: Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") has reported financial and operating results for the first quarter ended March 31, 2020.

This news release should be read in conjunction with Lithium Americas’ unaudited condensed consolidated interim financial statements and management's discussion and analysis (“MD&A”) for the three months ended March 31, 2020, which are available on the Company’s website and SEDAR. All amounts are in U.S. dollars unless otherwise indicated.

“While we remain fully committed to bringing both of our projects to production and are beginning to resume activities in Argentina, our top priority will continue to be protecting the health and safety of our employees, their families and the communities in which we operate” commented Jon Evans, Lithium Americas’ President and CEO. “I am proud of the way our employees and all of our stakeholders have responded to these unprecedented times and I remain confident that we will get through this together. We have been actively supporting the Province of Jujuy’s and Nevada’s efforts to address this challenge and we will continue to do so."

Highlights

Caucharí-Olaroz Lithium Project (“Caucharí-Olaroz”):
•On March 19, 2020, construction activities at Caucharí-Olaroz were temporarily suspended immediately following the declaration in Argentina of a country-wide mandatory quarantine in response to COVID-19.
•In mid-April 2020, following revisions to the scope of the government restrictions, activities at Caucharí-Olaroz resumed on a limited basis.
•The resumption of activities is occurring gradually with full caution and attention to the health and safety of returning employees, contractors and suppliers and in constant communication with the Argentine authorities, communities and all other stakeholders.
•COVID-19 health safety procedures have been implemented at site and at the Jujuy office.
•The impact of COVID-19 restrictions and safety procedures on the construction schedule is being assessed and the Company expects to provide an update by the end of Q2 2020.
•Any increase in capital costs as a result of the COVID-19 impact on the construction schedule is expected to be minimal and within the existing contingency.
•As of March 31, 2020, construction was 40% complete with $373 million (66%) of the planned capital expenditures committed including $249 million (44%) spent.

Thacker Pass Lithium Project (“Thacker Pass”):
•Lithium Americas is abiding by all government restrictions relating to COVID-19 in Nevada, and staff are efficiently working from home.
•Permitting continues as planned, with the Mine Plan of Operations accepted by the Bureau of Land Management (“BLM”) and the Notice of Intent published on January 21, 2020 in the federal register, which started a mandated 365 day requirement for the BLM to complete the permitting process. Major permits are expected to be received by the end of Q1 2021.
•Over 10,500 kg of high-quality lithium sulphate has been produced at the process testing facility in Reno, Nevada prior to the temporary closure of the facility in response to COVID-19 safety measures.
•Third-party vendors continue to engineer and design lithium carbonate and lithium hydroxide evaporator and crystallizer as well as provide performance guarantees and product samples.
•A definitive feasibility study (“DFS”) is being completed with an initial targeted production capacity of 20,000 tonnes per annum (“tpa”) lithium hydroxide and approximately 2,000 tpa lithium carbonate (“Phase 1”); the DFS is on track to be completed by mid-2020.
•The Industrial Company, a division of Kiewit Corporation, is engaged to complete key aspects of the DFS.
•Thacker Pass permitting and DFS costs are expected to be fully funded from available cash on hand.
•The Company is exploring financing options for Phase 1 construction, including the possibility of a joint venture partner at Thacker Pass.

Corporate:
•As at March 31, 2020, the Company had $82.1 million in cash and cash equivalents, including $36.8 million representing the Company’s 50% share of Caucharí-Olaroz cash and cash equivalents, a $20.0 million drawdown on one of the credit facilities to fund Caucharí-Olaroz and $25.3 million held by Lithium Americas and its subsidiaries.
•As at March 31, 2020, the Company had drawn $95.8 million of the $205.0 million senior credit facility and $22.2 million from its $100.0 million unsecured, limited recourse, subordinated loan facility.
•On February 7, 2020, the Company and Ganfeng Lithium Co. Ltd. (“Ganfeng”) entered into an agreement whereby Ganfeng has agreed to invest $16.0 million in Caucharí-Olaroz to increase its interest from 50% to 51%, with Lithium Americas owning the remaining 49%. In addition, Lithium Americas will receive $40.0 million in cash from the proceeds of non-interest-bearing loans from Ganfeng, which, upon closing, is expected to strengthen the Company’s balance sheet and enhance its liquidity position. The transaction is expected to be completed in Q3 2020 subject to closing conditions.

Management's Response to the COVID-19 Pandemic

COVID-19 has affected the Company’s activities and caused significant uncertainty surrounding the extent and duration of the impacts that it may have on our suppliers, on our employees and on global financial markets. The Company responded rapidly and proactively to COVID-19 and has implemented several initiatives to help protect the health and safety of our employees, their families and the communities in which we operate. To date, Lithium Americas has not had any confirmed or suspected cases of COVID-19 among employees or contractors at any of its projects.

Each of our sites have established COVID-19 management plans and developed project-specific plans that enable them to meet and respond to changing conditions associated with COVID-19, including:
•implementing comprehensive preventative measures at all sites;
•revisiting planned activities at our projects;
•enabling most of our office employees to work from home;
•eliminating all non-essential business travel; and
•appointing a team with overall responsibility for COVID-19 response planning, which includes senior management of the Company.

The Company is continuing to follow the advice of public health authorities and adhering to government regulations with respect to COVID-19 in the jurisdictions in which it operates. Management at Cauchari-Olaroz and Thacker Pass have been actively supporting local authorities’ and local communities’ efforts to address the COVID-19 challenge, including donations and support to the provincial and local authorities to buy medical and protective equipment, tests and other supplies.

Financial Results

Selected consolidated financial information is presented as follows:
(in US$ million except per share information) Three months ended
March 31, 2020 $ Three months ended March 31, 2019 $
Expenses (10.3) (2.1)
Net loss (14.0) (4.5)
Loss per share - basic (0.16) (0.05)

(in US$ million) As at March 31, 2020
$ As at December 31, 2019 $
Cash and cash equivalents 82.1 83.6
Total assets 326.1 293.8
Total long-term liabilities (158.6) (119.1)

With the $160.0 million investment by Ganfeng in Caucharí-Olaroz, closed in August 2019, the Company’s investment in Caucharí-Olaroz is accounted for as a joint operation and the Company now recognizes its share of any assets, liabilities and results of the joint operation rather than equity accounting for the investment. In Q1 2020, total assets increased primarily as a result of the Company’s share of the increase of the Caucharí-Olaroz capital expenditures. In Q1 2020, total long-term liabilities increased primarily as a result of a $22.2 million drawdown on the Company’s limited recourse loan facility and a $12.0 million drawdown on the Company’s senior credit facility.

Net loss for the three months ended March 31, 2020 was $14.0 million compared to net loss of $4.5 million for the three months March 31, 2019. Net loss in Q1 2020 increased primarily due to DFS-related costs on Thacker Pass, stock-based compensation and other items.

Qualified Person:
The scientific and technical information in this news release has been reviewed and approved by Dr. Rene LeBlanc, a Qualified Person for purposes of NI 43-101 by virtue of his experience, education and professional association. Dr. LeBlanc is the Chief Technical Officer of the Company. Information on the Company’s data verification and QA / QC procedures is contained in Lithium Americas’ current technical reports for Caucharí-Olaroz and Thacker Pass, available at www.sedar.com

Lithium Americas Announces Results of 2020 Annual Meeting
May 8, 2020 - Vancouver, British Columbia: Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce the results of its annual meeting of shareholders (the “Meeting”) held on May 7, 2020.

All of the following business items were approved at the Meeting by the requisite majority of shareholder votes cast at the meeting:
•setting the size of the Board of Directors at nine;
•electing each management-nominated director;
•appointing PricewaterhouseCoopers LLP as Lithium Americas’ auditor; and
•amending the Company’s equity incentive plan from a “rolling 10% plan” to a “fixed plan” whereby the number of common shares issued under the plan will not exceed 16% of the Company’s issued and outstanding common shares as of close of business on April 1, 2020 (the record date for the Meeting), as more particularly described in the information circular for the Meeting.

The nine directors of Lithium Americas elected at the Meeting are: Fabiana Chubbs, Franco Mignacco, Gabriel Rubacha, George Ireland, John Kanellitsas, Jonathan Evans, Dr. Michael Fischer, Xiaoshen Wang and Yuan Gao. Votes for the directors were cast as follows:

Director Votes For Votes Withheld Percent For Percent Withheld
Fabiana Chubbs 48,344,163 313,874 99.35% 0.65%
Franco Mignacco 47,372,762 1,285,275 97.36% 2.64%
Gabriel Rubacha 47,378,855 1,279,182 97.37% 2.63%
George Ireland 48,067,018 591,019 98.79% 1.21%
John Kanellitsas 47,336,983 1,321,054 97.29% 2.71%
Jonathan Evans 47,387,240 1,270,797 97.39% 2.61%
Dr. Michael Fischer 47,191,911 1,466,126 96.99% 3.01%
Xiaoshen Wang 46,934,997 1,723,040 96.46% 3.54%
Dr. Yuan Gao 48,370,739 287,299 99.41% 0.59%

Amendments to the equity incentive plan were approved and received 96.54% votes in favour, and the remainder against.

About Lithium Americas:
Lithium Americas is developing the Caucharí-Olaroz lithium project (50%-owned) in Jujuy, Argentina and the Thacker Pass lithium project (100%-owned) in Nevada, USA. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange under the ticker symbol “LAC”.