Technical Report on the Pre- Feasibility Study for the ...

1 Technical Report on the Pre- Feasibility Study for the Thacker Pass Project, Humboldt County, Nevada, USA Effective Date: August 1st, 2018 Prepared by: Reza Ehsani, (Advisian) Louis Fourie, (Advisian) Andrew Hutson, FAusIMM, BE (Mining), (Mining Plus) Daniel Peldiak, (Advisian) Rob Spiering, (Advisian) John Young, ,SME-RM (Great Basin Environmental Services, LLC) Ken Armstrong, P. Eng. (Chemetics Inc.) Advisian Suite 500, 4321 Still Creek Drive Burnaby, BC V5C 6S7 CANADA Phone: +1 604 298 1616 Facsimile: +1 604 298 1625 Lithium Americas Corp. Technical Report on the Pre- Feasibility Study for the Thacker Pass Project, Humboldt County, Nevada, USA Advisian i Cautionary Note Regarding Forward-Looking Information Information contained in this Report and the documents referred to herein which are not statements of historical facts, may be forward-looking information for the purposes of Canadian securities laws.

2 Such forward looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words expect , target , estimate , may , will , and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things, mineral reserve and resource estimates, grades and recoveries, development plans, mining methods and metrics including strip ratio, recovery process and the expected performance of the equipment, mining and production expectations including expected cash flows, capital cost estimates and expected life of mine operating costs, the expected payback period, receipt of government approvals and licenses including the timing for submitting a response to the EIS/EA, time frame for construction, financial forecasts including net present value and internal rate of return estimates, tax and royalty rates, and other expected costs.

3 Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are inherently subject to significant political, business, economic and competitive uncertainties and contingencies. There may be factors that cause results, assumptions, performance, achievements, prospects or opportunities in future periods not to be as anticipated, estimated or intended. There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially, from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference.

4 Accordingly, all such factors should be considered carefully when making decisions with respect to the project, and prospective investors should not place undue reliance on forward-looking information. Forward-looking information in this Technical Report is as of the issue date, May 17, 2018. LAC assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law. Important Notice This Report , following National Instrument 43-101 rules and guidelines, was prepared for Lithium Nevada Corp., a wholly owned subsidiary of Lithium Americas Corp. ( LAC ) by Advisian Americas ( Advisian ), a division of the WorleyParsons Group. The quality of information, conclusions and estimates contained herein, is consistent with the level of effort involved in Advisian services, and is based on the: Information available at the time of preparation.

5 Data supplied by outside sources. Assumptions, conditions, and qualifications set forth in this Report . This Report can be filed as a Technical Report with Canadian Securities Regulatory Authorities pursuant to National Instrument 43 101, Standards of Disclosure for Mineral Projects. Except for the purposes legislated under Canadian securities laws, any other uses of this Report by any third party are at that party s sole risk. Lithium Americas Corp. Te chnical Report on the Pre-Feas ibility Study for t he Thacker Pass Project, Humboldt County, Nevada, USA Advisian ii Prepared and Signed by the following Qualified Persons Th is Report titled Technical Report on th e Pre- Feasibility Study for the Thacker Pass Project, Humbold t County, Nevada, USA , issued August 1st, 2018, was prepared and signed by the following qualified persons: Louis F.

6 Fourie, , Res ource Geologist Date: August 1st, 2018 Daniel Peldiak, P. Eng. Pr in cipal Metallurgical Engineer Date: August 1st, 2018 Reza Ehsani, Senior Project Manager Date: August 1st, 2018 Andr ew Huts on, FAusIMM, BE (Mining) Pr incipal Minin g Engineer Date: August 1st, 2018 John Young, , SME-RM Pr incipal Environmental Specialis t Date: August 1st, 2018 Ken Ar mstrong, P. Eng. Pr in cipal Sulfuric Acid Plant Engineer Date: August 1st, 2018 Rob Spierin g, P. Eng. Pr oject Direc tor Date: August 1st, 2018 Lithium Americas Corp. Technical Report on the Pre- Feasibility Study for the Thacker Pass Project, Humboldt County, Nevada, USA Advisian x Table of Contents 1. Summary .. 1 Introduction .. 1 Location and Ownership .. 1 Geology .. 3 Mineralization.

7 3 Exploration and Drilling .. 3 Mineral Resources and Reserves .. 4 Processing and Recovery .. 5 Mining Methods .. 5 Metallurgical Testing .. 6 Recovery Methods .. 7 Project Infrastructure .. 9 Roads .. 9 Tailings and Salt Storage .. 9 Water Supply and Treatment .. 10 Power .. 10 Market Studies .. 10 Environmental Studies, Permitting and Social or Community Impact .. 11 Environmental Studies .. 11 Waste Rock and Tailings Management .. 12 Water Management, and Site Monitoring .. 12 Permitting and Bonding Requirements .. 12 Community and Social Engagement .. 13 Mine Reclamation and Closure .. 13 Capital and Operating Cost Estimates .. 13 Capital Costs .. 14 Operating Costs .. 15 Lithium Americas Corp. Technical Report on the Pre- Feasibility Study for the Thacker Pass Project, Humboldt County, Nevada, USA Advisian xi Economic Analysis.

8 15 Conclusions and Recommendations .. 16 Conclusions .. 16 Recommendations .. 16 2. Introduction and Terms of Reference .. 18 Terms of Reference .. 18 Scope of Work .. 19 Property Inspection by Qualified Persons .. 20 Units and Currency .. 20 3. Reliance on Other Experts .. 25 Mineral Tenure Property .. 25 Metallurgical Testing .. 25 4. Property Description and Location .. 26 Property Description .. 26 Mineral Tenure .. 28 UM Claims .. 30 Nature and Extent of Interest and Title .. 31 Royalties, Rights and Payments .. 32 Environmental Liabilities .. 32 Permitting for Exploration .. 32 Other Factors or Risks .. 33 Conclusions .. 33 5. Accessibility, Climate, Local Resources, Infrastructure, and Physiography .. 34 Accessibility .. 34 Climate .. 34 Temperature .. 35 Precipitation.

9 35 Wind Speed and Direction .. 36 Evaporation .. 39 Barometric Pressure and Relative Humidity .. 40 Solar Radiation .. 40 Lithium Americas Corp. Technical Report on the Pre- Feasibility Study for the Thacker Pass Project, Humboldt County, Nevada, USA Advisian xii Local Resources .. 41 Infrastructure .. 41 Water Rights .. 42 Physiography .. 42 6. History .. 43 Ownership History .. 43 Exploration History .. 44 Metallurgical Test Work History .. 45 Historic Production from the Property .. 45 Historical Resource Estimates .. 46 7. Geological Setting and Mineralization .. 47 Regional Geology .. 47 Geologic History of the McDermitt Caldera .. 48 Pre-Caldera Volcanism .. 48 Eruption of the Tuff of Long Ridge and Collapse of the McDermitt Caldera .. 48 Post-Caldera Activity .. 48 Mineralization.

10 51 Thacker Pass Deposit .. 51 Mineralogy .. 54 Discussion .. 54 8. Deposit Types .. 55 Lithium Mineralization .. 55 Basis of Exploration .. 56 9. 57 Thacker Pass .. 57 Lithium Deposits in the Montana Mountains .. 58 Additional Exploration .. 59 10. Drilling .. 60 Type and Extent of Drilling by LNC .. 60 Logging .. 62 Lithium Americas Corp. Technical Report on the Pre- Feasibility Study for the Thacker Pass Project, Humboldt County, Nevada, USA Advisian xiii Additional Drilling in Thacker Pass Deposit .. 63 Clay Properties Drilling .. 63 Geotechnical Drilling .. 63 Surveying .. 63 Accuracy and Reliability of Drilling Results .. 64 11. Sample Preparation, Analyses, and Security .. 65 Quality Program Development .. 65 Sample Preparation .. 66 Analysis .. 67 Density .. 68 Quality Control.