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VANCOUVER, British Columbia, 27 July 2020 (GLOBE NEWSWIRE) – Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or “Company”) announced on July 6, 2020 that Cauchar- Olaroz staff (Cauchar-Olaroz assignment or “Project”) in Jujuy, Argentina, proved positive for COVID-19. In response, the structure was suspended without delay and all staff were quarantined and additionally reviewed. The local operating company, Minera Exar SA (“Minera Exar”), a 50/50 joint venture with the Company and Ganfeng Lithium Co. Ltd. (“Ganfeng Lithium” as well as the Company, the “Shareholders”), has concluded labor control and demobilization of the site. While other staff members tested positive for COVID-19, the company was informed that most positive cases are asymptomatic. Approximately 20% of positive cases were cured and discharged with 3 hospitalized and solid-state staff members.
The corporation recently reviewed press reports indicating that Jujuy province has initiated procedures similar to Minera Exar’s implementation of COVID-19 provincial protection and conditioning protocols. Minera Exar and shareholders take those claims seriously and actively address those problems with the province of Jujuy.
“The fitness and protection of our staff, local communities and the province of Jujuy has been, and will continue to be, our most sensitive priority,” said Jon Evans, president and chief executive officer of Lithium Americas. “We are working hard with our spouse Ganfeng Lithium and, with the recommendation of leading medical experts, we are taking the right steps with Minera Exar and Jujuy Province to ensure that we continue to prevent the spread of COVID-19, while offering more productive protection and fitness criteria for our staff and local communities.”
About Lithium Americas:
Lithium Americas is arriving in Cauchar-Olaroz in Jujuy, Argentina, with Ganfeng Lithium, a 50/50 joint venture partner. The company has announced in the past a transaction in which Ganfeng Lithium will increase its share of the allocation to 51%, while Lithium Americas will have the remaining 49%. The transaction is on track to close until the end of the third quarter of 2020. In addition, the company is close to making the full-owned Thacker Pass lithium allowance in Nevada, USA. The company is listed on the Toronto Stock Exchange and the New York Stock Exchange under the inventory symbol “LAC”.
For information, contact: Lithium Americas Corp.Investor Relations Suite 300-900 West Hastings Street Vancouver, BC, V6C 1E5 Phone: 778-656-5820 Email: [email protected] Website: www.lithiumamericas.com
Forward-looking statements:
This press release includes “forward data” and “forward-looking statements” (which we jointly refer to as forward-looking data) under applicable securities law. All statements, except old statements of fact, are forward-looking data. Examples of forward-looking data in this press release include, among other things, the effect of the COVID-19 outbreak on the allocation of Cauchar-Olaroz and the company, the company’s good fortune in managing and controlling the epidemic, the scope and consequences of any proceedings undertaken through the Jujuy government and the expected final touch and timing of the existing transaction with Ganfeng Lithium.
Prospective data is based on a number of points and assumptions that, if not true, may cause the Company’s actual results, functionality, or achievements to differ materially from the results, functionality, or long-term achievements expressed or implied through this data. These data reflect the Company’s existing prospects for long-term occasions and are necessarily based on a number of assumptions that, although moderate in the Company today, are inherently subject to significant uncertainties and contingencies. These assumptions include, among other things, the effects of COVID-19 on the world and in Jujuy province, the reaction of local communities and governments to the COVID-19 epidemic, Minera Exar’s compliance with the legislation and regulations relating to its COVID-19. protocols and their reaction to the epidemic, and the ability to effectively engage the epidemic on the ground.
Prospective data also presents known and unknown hazards that can cause significant differences between actual results. These hazards come with inherent dangers to the progression of capital-intensive mining allocations (including co-owners), government or network policies, political and legal hazards related to governments and local communities affected by the epidemic at the level of allocation, fitness and dangers for protection and general market and industry conditions. Other hazards, assumptions and other points are defined in the company’s control report and in the recent maximum annual notice, the copies of which can be obtained in SEDAR in www.sedar.com.
Although the Company has attempted to identify significant hazards and assumptions, given the uncertainties inherent in this forward-looking data, other points would possibly cause the actual and expected effects to differ significantly. Prospective data is provided as of the date hereof and the Company has no purpose and expressly disclaims any legal responsibility to update or revise any prospective data contained in this press release, as required by law. Readers are therefore cautioned not to place undue reliance on forward-looking data.