Lithium Argentina Announces 2023 Production Results for Caucharí-Olaroz

VANCOUVER, British Columbia, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC) (“Lithium Argentina” or the “Company”) today announced preliminary 2023 operational results for the Caucharí-Olaroz lithium brine operation (“Caucharí-Olaroz” or the “Project”) in Jujuy, Argentina.

HIGHLIGHTS

• 2023 production surpassed guidance reaching approximately 6,000 tonnes of lithium carbonate.
• Lithium carbonate plant is producing at approximately 50% capacity.
• The KCl plant is operational and in the process of ramping up in production volume and product quality.
• Lithium Argentina to report year-end financial results on March 21, 2024 after market close.

“We are very pleased with the production results from Caucharí-Olaroz to date and continue to progress of the ramp up of both production volume and product quality,” commented John Kanellitsas Executive Chair, President and interim CEO. “The team in Argentina has gained valuable experience and has consistently achieved important milestones as the Project transitioned from construction into operations. We look forward to 2024 with a focus on achieving nameplate capacity and laying the foundation for our next phase of growth.”

Following the achievement of first lithium carbonate production in June 2023, Caucharí-Olaroz has been consistently producing lithium carbonate as commissioning and ramp-up continue. Production is currently achieving 99.5% lithium carbonate content with technical quality specifications approaching battery quality.

The Project produced approximately 6,000 tonnes of lithium carbonate in 2023 exceeding the Company’s previous guidance of 5,000 tonnes. The first lithium shipment left Argentina in early October with regular shipments continuing since then.

Fourth Quarter and Full Year 2023 Financial Results

Lithium Argentina plans release its fourth quarter and full year 2023 financial results, including an update on production guidance for 2024, after market hours on, March 21, 2024.

Senior management plans to host a conference call on March 22, 2024, at 10:00 a.m. (Eastern Time).

Webcast details and an online archive of the webcast will be available by accessing the Company's website at www.lithium-argentina.com

ABOUT LITHIUM ARGENTINA

Lithium Argentina is an emerging producer of lithium carbonate for use predominately in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co, Ltd., is ramping up production of the Caucharí-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region. Lithium Argentina currently trades on the TSX and on the NYSE, under the ticker symbol “LAAC.”