Lithium Americas To Commence Trading on NYSE and Provides Corporate Development Update
January 18 2018 - 9:04AM
Lithium Americas Corp. (TSX:LAC) (OTCQX:LACDF)
("Lithium Americas" or the "Company") is pleased
to provide the following update on its New York Stock Exchange
(“NYSE”) listing and certain corporate developments.
Highlights:
- Lithium Americas has received approval for the listing of its
common shares on the NYSE, which are expected to begin trading on
the NYSE under the symbol “LAC” on January 25, 2018
- The Cauchari-Olaroz pond layout and design has been completed
with the pond contractor mobilized at site and production pond
construction scheduled to start in the coming weeks
- Minera Exar currently has over 400 employees and contractors
working in Argentina
- Minera Exar has reviewed the development schedule for
Cauchari-Olaroz and expects first production to commence in
2020
- Lithium Americas continues to advance the preliminary
feasibility study (“PFS”) for Lithium Nevada as planned, with the
2017 exploration drill program completed on time and budget
NYSE Listing:
Lithium Americas has received approval to list
its common shares on the NYSE. The Company expects its common
shares will open for trading on the NYSE on January 25, 2018, under
the symbol “LAC”. The Company’s common shares will continue
to trade on the OTCQX under the symbol “LACDF” until the close of
market on January 24, 2018.
Cauchari-Olaroz Development
Update:
Minera Exar S. A. (“Minera Exar”) has provided a
development update on the Cauchari-Olaroz project in Jujuy,
Argentina (“Cauchari-Olaroz”). Minera Exar is a 50/50 joint venture
between Lithium Americas and Sociedad Quimica y Minera de Chile S.A
(“SQM”) and holds a 100% interest in Cauchari-Olaroz.
Cauchari-Olaroz continues to progress detailed
engineering which, excluding the plant design, is 50% complete and
scheduled to be completed this quarter followed by final plant
design to be completed in the second quarter of 2018. Construction
activities associated with earthworks, roads and well platforms are
well underway.
Minera Exar has more than 400 employees and
contractors working in Argentina. The camp expansion, to add
capacity for an additional 400 personnel, is well-advanced, and
scheduled to be completed in the first quarter of 2018, allowing
Minera Exar to continue with its development activities as planned.
Work is continuing on wellfield optimization for a sustainable
long-term operation. Pond layout and design is completed, with the
pond contractor mobilized at the site as planned, and scheduled to
start construction in the coming weeks. We expect the filling of
ponds to commence during the third quarter of 2018.
Minera Exar’s Board of Directors has reviewed
the progress of Cauchari-Olaroz and confirmed an updated
development schedule, with first production now targeted to
commence in 2020, rather than late 2019 as previously forecast. The
updated schedule is a result of ongoing wellfield optimization and
an updated pond construction and filling timeline.
Lithium Nevada Development
Update:
Lithium Americas continues to advance Lithium
Nevada, a clay-based lithium resource in the McDermitt Caldera. The
2017 exploration drill program was completed on time and budget
with assay results expected in the coming months. Planning for a
further 2018 exploration drill program is underway and focused on
mapping the extent of the deposit. Progress on the geology, mine
plan, process engineering and permitting remain on track to
complete a PFS on Lithium Nevada as planned. For more information
on Lithium Nevada and the PFS program underway, please see the
Company’s press release dated October 23, 2017.
Qualified Persons:
The scientific and technical information in this
news release relating to Cauchari-Olaroz and Lithium Nevada has
been reviewed and approved by Dr. Rene LeBlanc, a Qualified Person
for purposes of National Instrument 43-101 – Standards of
Disclosure for Mineral Projects. Dr. LeBlanc is Lithium
Americas’ Senior Process Development Manager. Information on
data verification performed on Cauchari-Olaroz and Lithium Nevada,
as well as on known risks that could affect the potential
development of such properties, is contained in Lithium Americas’
most recently filed annual information form and the current
technical report for each of those properties, all available at
www.sedar.com.
About Lithium Americas
Lithium Americas, together with SQM, is
developing Cauchari-Olaroz, located in the Province of Jujuy,
Argentina, through its 50% interest in Minera Exar. In addition,
Lithium Americas owns 100% of Lithium Nevada (formerly Kings Valley
project), and RheoMinerals Inc., a supplier of rheology modifiers
for oil-based drilling fluids, coatings, and specialty chemicals.
The Company trades on the Toronto Stock Exchange and expects to
trade, effective January 25, 2018, on the NYSE, under the ticker
symbol “LAC”.
For further information contact:Lithium
Americas Corp.Investor RelationsSuite 1100 – 355 Burrard
StreetVancouver, BC, V6C 2G8Telephone:
778-656-5820Email: ir@lithiumamericas.comWebsite:
www.lithiumamericas.com
Forward-looking statements
This news release contains “forward-looking
information” and “forward-looking statements” (which we refer to
collectively as forward-looking information) under the provisions
of applicable securities legislation. Such forward-looking
information is subject to various risks and uncertainties.
Forward-looking information in this news release includes, but is
not limited to, statements with respect to the timing of
commencement of trading of the Company’s securities on the NYSE,
timing of development of the Cauchari-Olaroz project, including,
but not limited to, in regard to pond construction and commencement
of production at Cauchari-Olaroz, and timing of completion of
a PFS for Lithium Nevada. Forward looking information is
subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from
those projected in the forward-looking information, including, but
not limited to, risks and uncertainties related to whether there
will ever be production at the Company’s mineral properties,
geological, technical, drilling or processing problems,
environmental liabilities and risks inherent in mineral extraction
operations, lack of availability of additional financing, and
obtaining regulatory approvals in a timely manner, or at all. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Forward-looking statements
are made as of the date hereof and the Company does not intend, and
expressly disclaims any obligation to, update or revise the
forward-looking information contained in this news release, except
as required by law. Accordingly, readers are cautioned not to place
undue reliance on forward-looking information.
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