ARGENTINA!VAMOS

Western Lithium USA Corp. January 2016

Argentina: Positive Economic and Political Change

“Argentina's [president], Mauricio Macri, has named

former Shell Argentina executive Juan Jose

Aranguren to be the country's energy minister.”

–Reuters, November 25, 2015

“Markets have high expectations for Mr. Macri,

their preferred candidate in the election, and are

now hoping for a new era of pro-growth structural

reforms that will clear the way for much-

needed investment to stimulate the flagging

economy.”

– Financial Times, December 10, 2015

“Juan Jose Aranguren, the next energy minister of

Argentina, said … he will seek to rebuild investor

confidence in the country by improving business

conditions after taking office December 10.”

–Charles Newbery for Platts.com, November 29, 2015

“Mr. Macri has promised to move from a largely

state-controlled economy under the leftist Ms.

Fernandez to one that is more free market-

orientated, easing trade and currency controls.”

– BBC, December 20, 2015

2

“Finance Minister Alfonso Prat-Gay today

announced a much anticipated end of currency

controls to allow increased access to US dollars.”

–Buenos Aires Herald, December 16, 2015

The Energy Revolution

Makes the Paris Commitment Possible

2 goalTarget temperature

increase by 2100

o $16.5T*

Investment requirement

by 2040:

• Solar

• Wind

• Transportation

• Infrastructure

* Source: Bloomberg, December 12, 2015; International Energy Agency estimates

4

Storage Critical Role in a $16.5 trillion energy revolution

• Powers hybrid and

electric vehicles

• Assists renewable

energy in solar and

wind applications

• Alleviates grid issues

in developed and

emerging nations$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

$35.0

$40.0

2011 2012 2013 2015 2020

$B

ILLIO

N

Lithium-Ion Battery Market*

*Source: Citi Research, Lithium – the Future is Electric, October 16, 2015; Jon Hykawy/Stormcrow, Industry Report // Lithium, May 29, 2015

40%

20%

13%

7%

4%

3%

3%

10%

Compelling Lithium Market Fundamentals

The future of lithium is in the battery

* Source: signumBOX

65%

14%

9%

4%2%

1% 1% 4%

2025 End Uses*

Batteries

Ceramics and

glass

Lubricating

greases

Metallurgy

Air

conditioning

Polymers

Medicine

Other

2014 End Uses*

5

Tesla’s Gigafactory: “Insane” Scale

PRODUCTION BY 2020

Sources: Tesla Motors, *Benchmark Mineral Intelligence Q3 2015, and internal estimates

Vehicle output 500,000/year

Cell output 35 GWh/year

Pack output 50 GWh/year

Space Requirements 10 MMft2

Lithium Requirements Up to 30,000 Mt/year*

• More lithium-ion

battery production in

1 year than all global

production in 2013

• Many Gigafactories

expected

• Will there be enough

lithium production?

6

Lithium-ion Battery Megafactories Are Coming

Li production must be increased to meet new demand

3X TOTAL BATTERY

CAPACITY

BY 2020

Source: Benchmark Mineral Intelligence 7

8

Lithium Prices Increasing: Inelastic Demand

In 2015:

• Carbonate price up 10-

15% on 2014 average

• Hydroxide up

20-25% on 2014

average

Lithium Carbonate Price Trend: 2005-2015 ($/tonne)

*Source: Benchmark Mineral Intelligence, March 2015

Lithium Production is Concentrated

Note: Albemarle owns 49% of material produced from Australia through a JV, with Tianqi Lithium, a Chinese entity, owning the remaining 51% Source: Roskill, JGL Partners Estimates

TIANQI LITHIUM /

ALBEMARLE

LITHIUM TRIANGLE

9

OF WORLD’S SUPPLY

4 COMPANIESPRODUCE OVER

89%

WESTERN LITHIUMPOSITIONED TO CAPITALIZE

ON MARKET

OPPORTUNITY

The New Western Lithium –

Combined With Lithium Americas

• Two large and low production

cost lithium deposits in the

Americas (Cauchari and

Kings Valley)

• Near Term (2017) lithium

production in Argentina

• A lithium reserve and engineering

studies to support up to 66,000 tpa

of Lithium Carbonate Equivalent

or up to 2 “Gigafactories”

(Cauchari-Olaroz and Kings Valley

Combined)

• Significant expansion potential

ANTOFAGASTA

PORT

Approximate

property limits

CAUCHARI–OLAROZ

PROJECT

Cauchari-Olaroz Project

JUJUY, ARGENTINASTRATEGICALLY LOCATED IN

~81,000ha

“LITHIUM TRIANGLE” IN HEART OF

LARGE LAND PACKAGE

12

Cauchari-Olaroz Project

• Definitive Feasibility Study completed

in 2012 support reserve and resource

estimates based on conventional

evaporation technology

• ~$80 million spent on exploration

and development

• 10,000m drill program with pumping wells

• Full Decree approving project construction

obtained in 2012

• Upside exploration potential

3rd* LARGEST

LITHIUM BRINE

RESOURCE IN

THE WORLD

13

* Source: Roskill Information Services, 12th Edition 2013

Project Economics

14

Definitive Feasibility Study (based on traditional evaporation process)

Lithium Carbonate Production (tons/year) 20,000

Potash Production (tons/year) 40,000

Mine Life (years) 40

Capital Costs ($M) $314

Operating Costs/ton (net of potash credits) $1,627

Average Annual Revenues ($M) $175

Average Annual Net Cash Flows ($M) $117

NPV (post-tax) at 8% Discount Rate $464

Unlevered IRR (post-tax) 20%

43-101 compliant technical report provided strong investment rationale for Cauchari-Olaroz which has

further strengthened with higher lithium prices. Report highlighted excellent infrastructure including:

natural gas pipeline, paved highway, fresh water on site, access to labor and deep sea port.

*calculated NPV based on average assumed LCE price of $5,900 in first 10 years. Current LCE price in $7,000-8,000 range.

Technical and Market Study Advisors: ARA Worley Parsons, Aqua Resource (Matrix Solutions), Groundwater Insight, SignumBox

Excellent Infrastructure

De-risks project significantly

NATURAL GAS

PIPELINE

PAVED

HIGHWAY

FRESH WATER

ON SITE

ACCESS TO

LABOUR

ACCESS TO

DEEP SEA PORT(~550 KM)

Our Progress at Cauchari

Who is POSCO?

• POSCO is multi-national steel

company headquartered in Pohang,

South Korea, ranked 4th in the

world by output.

• Revenues in 2014 of $62 Billion.

Placed 146th on Fortune’s global

500 list in 2012.

• Forward-thinking on disruptive

technologies and energy

storage market.

• Developed a highly efficient

proprietary lithium extraction

technology that achieves higher

recovery rates and

lower production costs.

16

POSCO – Western Lithium Joint Venture

POSCO WLCRight to use Salar de Cauchari for 40 years

JVC

Lithium Phosphate/

Potassium ChloridePRODUCTION COMPANY

Lithium Carbonate/

Lithium HydroxidePRODUCTION COMPANY

KOREA ARGENTINA

Note: POSCO/LAC Joint Venture is in the commercial negotiation phase and there is no guarantee that a Joint Venture will be consummated 18

From Supply in Argentina…

STAGE 2

STAGE 1

19

The POSCO Process

Near-Term Scalable Production

2017PRODUCTION

99.99%PURITY RECOVERIES

90+%

Source: POSCO Estimates

Chauchari-Olaroz Project Demonstration Plant

Northern Nevada Lithium DevelopmentKINGS VALLEY PROJECT SITE

Kings Valley Project

Prefeasibility and demo plant

Planned production Phase I – 13,000 tpa LCE

Phase II – 26,000 tpa LCE (Est. starting in year 4)

Operating life 20 years (with expansion potential)

Cash operating costs* $968 per tonne LCE (after K2SO4 & NA2SO4 by-product credits)

Average annual cash flow* $124 million

Average annual revenue* $220 million

NPV (at 8% discount rate) $552 million

NPV (post-tax)* $373 million

IRR (pre-tax) 24%

IRR (post-tax) 20%

Capital costs Phase I – $248 million

Phase II – $161 million

22

*Once full lithium carbonate production of 26,000 tonnes per year is achieved.

Western Lithium NI 43-101 Technical Report, May 2014

All above figures in U.S. dollars. Based on lithium carbonate price of $6,000/tonne, potassium sulfate price of $600/tonne and sodium sulfate price of $75/tonne.

Additionally, the Company is subject to a corporate royalty of 4 to 8% with Orion. See Press Release Feb. 5, 2013.

Kings Valley Project Demonstration Plant

Western Lithium has produced 99.8% high quality lithium carbonate in its first

trial run at the demonstration plant in Germany.

GRANULATE

LITHIUM CLAY WITH

ANHYDRITE & DOLOMITE

ROAST

MIXED GRANULES IN

ROTARY KILN AT 1000 C

CRYSTALIZE

POTASSIUM & SODIUM

SULPHATE

WATER-LEACH

CALCINED GRANULES

(NO ACIDS)

PRECIPITATE

LITHIUM

CARBONATE

ELECTROLYSIS

OF LITHIUM

HYDROXIDE

Studies have been advanced to finalize the design of Western Lithium’s lithium

hydroxide circuit for production. The Company expects to test its lithium

hydroxide circuit in pilot tests in 2016.

Low Impurity Leaching Brine

24

Comparisons Of Brine Chemistry Major Salars Versus Kings Valley Raw Brine Before Evaporation

Salars Li K Mg/L Ca B Density Mg/Li

Atacama 1,835 22,626 11,741 379 783 1.223 6.4

Hombre Muerto 744 7,404 1,020 636 420 1.205 1.37

Rincon 397 7,513 3,419 494 331 1.22 8.6

Olaroz 796 6,600 2,289 416 822 1.211 2.88

Salinas Grande 775 9,289 2,117 1,450 232 1.297 2.73

Guayatayoc 67 2,185 115 628 144 – 1.72

Cauchari (Lac) 618 5,127 1,770 401 1,360 – 2.86

Uyuni 424 8,719 7,872 557 242 1.211 18.6

Silver Peak, Nv 245 5,655 352 213 85 1.297 1.43

Wlc Leach Brine 5,183 40,164 9 31 – 0.0017

*Western Lithium compiled data from public disclosures

Western Lithium’s wholly-owned subsidiary,

Hectatone Inc. manufactures organoclay products

used in complex oil and gas exploration, animal feed,

and other applications. Western Lithium made its first

shipment of organoclay products in January 2015.

Hectatone™ Organoclay Plant

Investment Summary

• Energy Revolution Underway

• Energy storage driving lithium demand

• Current producers lack supply expansion capacity

• WLC well positioned to meet expected supply deficit

• Benefits of WLC’s projects include:

• Scalable

• Sustainable

• High Grade

• Better Recovery

• Shovel Ready

27

WLC Capital Structure

Clean capital structure with no debt

Shares Outstanding 290 million

Fully Diluted 328.3 million

52 Week Range C$0.26 - C$0.96

Recent Price C$0.34

Market Cap C$85 million

Cash Position (as at September 30, 2015) US$5.5 million

28

Experienced Management

Tom Hodgson, Director & CEO

Tom Hodgson was Executive Chairman and a member of the Board of Directors

of Lithium Americas Corp. from pre-IPO to the merger with Western Lithium.

Before being actively involved with Lithium Americas, Mr. Hodgson had a career

in banking, finance, and money management, and has served as COO or CEO

on the Board of Directors of a number of public and private companies in

Canada and the United Kingdom, including Central Guaranty Trustco,

GlobalNetFinancial.com, Marathon Asset Management, and Magna

Entertainment Corp. Tom holds a Bachelor of Arts degree in Economics and

Law from Carleton University in Ottawa, Canada and a Master of Business

Administration in Finance and Accounting from Queen’s University in Kingston,

Canada.

Jay Chmelauskas, Director & President

Jay Chmelauskas has acted as President of the Company since October 2008 and

including Chief Executive Officer from September 2012 to November 2015. He was

most recently President and Chief Executive Officer of China Gold International

Resources Corp. Ltd. (formerly Jinshan Gold Mines), where he advanced the a major

gold deposit through funding, permitting, construction and commissioning to become

one of China's largest open pit gold mines. Prior to China Gold, Jay held consulting

engineering positions with Vancouver-based engineering consultant groups and also

worked at one of Placer Dome's largest open pit gold mines in Papua New Guinea.

Jay also worked in the corporate development group with chemical manufacturer

Methanex Corporation. His experience in both the chemical and mining industries is

well suited to lead Western Lithium through the development, product marketing and

production phases of its businesses with a focus on its Kings Valley Lithium Project

and Hectatone™ Clay business . Jay has a Bachelor of Applied Science in Geological

Engineering from the University of British Columbia and a Master of Business

Administration from Queen's University.

Franco Mignacco, Director & President - Minera Exar S.A.

Franco Mignacco, has been the President of the Company's wholly owned

subsidiary Minera Exar S.A., since May 2013. He was the Vice Chairman of

Lithium Americas Corp., from June 25, 2013 to September 2015 . Franco

holds an MBA from San Andres University, Buenos Aires, Argentina and his

honours in mining at Universidad Austral, Buenos Aires, Argentina.

Frank B. Wright Jr., brings 40 years of domestic and international experience in the

clay industry. As Director of Business Development for Egypt-based Rasheed

Performance Minerals, from 2008 to July 2014, Frank has been involved with the

development of a startup organoclay producer, IDIC Specialty Drilling Chemicals,

that is now a leading international and US supplier of organoclay and organolignite

products for the drilling industry. He has previously served as President of American

Colloid Company, one of the world’s leading producers of bentonite clay, and

President of Volclay International, where he lead strategic initiatives to open new

plant operations in China, India, and Thailand. He also served as Vice President of

AMCOL International Corp. (now Mineral Technologies), a leading producer and

marketer of diverse specialty materials. He was also President and Chief Executive

Officer of Bentonite Performance Minerals, LLC (now a subsidiary of Halliburton

Company).

Frank B. Wright Jr., President - Hectatone Inc.

29

John Kanellitsas, Director & Vice Chairman

John is primarily responsible for business development and capital markets

strategies. Mr. Kanellitsas served as the CEO of Lithium Americas Corp until its

September 2015 merger with Western Lithium USA Corporation. He has over

twenty years of experience in investment banking and fund management. John

was a founder and partner of Geologic Resource Partners, LLC and served as its

Chief Operating Officer from 2004 until 2014. Prior to Geologic, John was

employed by Sun Valley Gold, LLC and Morgan Stanley & Co. in New York and

San Francisco. John has an MBA from the University of California at Los Angeles

and a BS degree in Mechanical Engineering from Michigan State University.

Experienced Management

Silvio Bertolli, Senior Vice President, Project Development

Silvio Bertolli is a chemical engineer, who holds a Bachelor of Science

degree in Industrial Chemistry from the Institute of Technology S.

Cannizzaro, Italy, with over 37 years of experience in project management,

process design and technology development in the chemicals,

petrochemicals, mining and oil and gas industries. He leads Western

Lithium’s engineering and development team, and has been involved with

the Kings Valley Lithium Project since 2008. Silvio has held various

technical and executive positions at U.S. and international operating

companies and major EPC (engineering, procurement and construction)

contractors, such as the ENI Group of Companies, Agip SpA, Snamprogetti,

Westinghouse Electrical, CF Chemicals and Washington Group

International. His experience includes engineering design, construction and

operations; project development; economic analysis; technology

development; product marketing; project financing; and business

development.

Dennis Bryan brings over 35 years of experience to Western Lithium from the industrial

minerals industry. He has been involved in all aspects of the industrial minerals field

including exploration, product marketing, mine development as well as expertise with

mining laws concerning mining claims, National Environment Policy Act, permitting and

reclamation at both the U.S. federal and Nevada state level. Dennis is the appointee of

the Governor to the State of Nevada Commission on Mineral Resources, representing

the small miner's interests including that of the industrial minerals industry. He has been

actively associated with the Kings Valley Lithium Project since 2007 as Project

Consultant prior to his appointment as Senior Vice President. Dennis holds a Bachelor

of Science in Geological Engineering from the South Dakota School of Mines and

Technology and a Master of Science, Geology from the Mackay School of Mines,

University of Nevada.

Tracy Hansen, Vice President and Corporate Secretary

Tracy Hansen is a securities paralegal with over 17 years of experience in providing

regulatory and management services to public and private companies, primarily in

mining and resource development. Most recently she was Vice President and

Corporate Secretary of Concordia Resources Corp. (now Kaizen Discovery Inc.), a

TSXV listed natural resource company. Prior to this Tracy worked with a number of

exploration and development companies focused on uranium, copper, zinc and gold in

Nevada, Canada and Mexico.

30

Eduard Epshtein is a Chartered Accountant and holds a Diploma of Technology with

Honours in Financial Management from the British Columbia Institute of Technology.

He started his accounting career with PricewaterhouseCoopers LLP, specializing in

providing audit and assurance services to medium to large public companies during

which time he gained valuable exposure to the industry's best practices for

governance, disclosure and accounting. Later Eduard moved to senior management

positions with public companies in natural resource sectors (mining and oil & gas) and

experienced in strategy, business and project development, regulatory compliance,

corporate structuring, venture capital, treasury, IPOs, financings, M&As, joint ventures

and acquisitions. He currently serves as a Director of Bearing Resources Ltd. and

Financial Executives International Canada -- Vancouver Chapter.

Dennis Bryan, Senior Vice President, DevelopmentEduard Epshtein, Chief Financial Officer

Cautionary Statement

31

Qualified Persons

The scientific and technical information regarding Western Lithium contained in this presentation has been approved by Dennis Bryan, Western Lithium’s Senior Vice President of Development who is a Qualified Person as

defined in National Instrument 43-101 (“NI 43-101”). The scientific and technical information regarding Lithium Americas contained in this presentation has been approved by Marcela Casini, who is a Qualified Person as defined

in NI 43-101.

For further information about the Kings Valley project and the reserves thereunder, please refer to the NI 43-101 technical report of Western Lithium dated May 9, 2014 and entitled “Updated NI 43-101 Technical Report on the

Kings Valley Property, Humboldt County, Nevada”, available on SEDAR under the profile of Western Lithium. For further information about the Cauchari-Olaroz Project, including a description of the reserves thereunder and

applicable data verification matters, please refer to the NI 43-101 technical report of Lithium Americas dated July 11, 2012 and entitled “Feasibility Study – Reserve Estimation and Lithium Carbonate and Potash Production at the

Cauchari-Olaroz Salars, Jujuy Province, Argentina”, available on SEDAR under the profile of Lithium Americas.

Forward-Looking Statements

This presentation contains “forward-looking information” within the meaning of applicable Canadian securities legislation, and “forward-looking statements” within the meaning of the United States Private Securities Litigation

Reform Act of 1995 (collectively referred to as “forward-looking information”). All statements, other than statements of historical fact, may be forward-looking information. Forward looking information can be identified by the use of

statements that include words such as "anticipate", "plan", "continue", "estimate", "expect", "exceed", "may", "will", "project", "predict", “propose”, "potential", "targeting", "exploring", “scheduled”, “implementing”, "intend", "could",

"might", "should", "believe" and similar words or expressions. Information provided in this presentation is necessarily summarized and may not contain all available material information.

Forward-looking information in this presentation includes, but is not limited to: information concerning the proposed business combination between Western Lithium and Lithium Americas; the business, operations and financial

performance and condition of the combined company; synergies and the financial impact of the business combination; potential benefits of the business combination and the development potential of the properties of Western

Lithium and Lithium Americas; expected completion and implementation of the business combination; the nature of Western Lithium’s operations and Western Lithium’s business outlook following completion of the business

combination; plans and objectives of management for future operations; the potential to become a supplier of lithium products to battery manufacturers and a supplier of specialty drilling additive, Hectatone™ and potentially other

organoclays for the oil and gas and other industries; timing and amount of future production; future cash costs of production, capital and operating and exploration expenditures; cash flow estimates; estimation of mineral

resources and mineral reserves; development of deposits (including expansion of mineralization), mineral resources and mineral reserves; treatment under regulatory regimes; ability to realize value from Lithium Americas' core

assets; work plans and development plans; and optimizing operating performance and costs, the effect of new technology on lithium production processing times and costs.

Forward-looking information expresses, as at the date of this presentation, plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. All such forward-looking information is based on certain

assumptions, estimates, expectations, analyses and opinions made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors

management believes are appropriate in the circumstances. Assumptions upon which such forward-looking information is based include, without limitation: that shareholders of Western Lithium and Lithium Americas will approve

the business combination; that all required third party, regulatory and governmental approvals to the business combination will be obtained and all other conditions to completion of the business combination will be satisfied or

waived; the business combination will be completed; no significant event occurring outside of the ordinary course of business of Western Lithium and Lithium Americas; legislative and regulatory environment; impact of increasing

competition; current technological trends; prices of lithium and potash; costs of development and production; anticipated results of exploration and development activities; Western Lithium’s and/or Lithium America’s ability to

operate in a safe and effective manner; and ability to obtain financing on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive.

Western Lithium’s and Lithium Americas' actual results, programs and financial position could differ materially from those anticipated in such forward-looking information as a result of numerous factors, risks and uncertainties,

many of which are beyond Western Lithium’s and Lithium Americas' control. These include, but are not limited to: possible variations in mineral resource and reserve estimates; grade/concentration or recovery rates; lithium or

potash prices; operating or capital costs; changes in project parameters as plans continue to be refined; legislative changes that impact the operations in which Western Lithium and Lithium Americas conduct business; results of

exploration activities and development of mineral properties; interpretation of geological data; receipt and security of mineral property titles; failure of plant, equipment or processes to operate as anticipated; accidents; labour

disputes; the inability to obtain key personnel and parts related to operations; receipt of licenses to conduct mining activities; country and political risks; civil unrest; community relations; timing and possible outcome of pending

litigation; liabilities and risks, including environmental liabilities and risks inherent in the development and production of Western Lithium’s and Lithium Americas' properties; cost overruns or unanticipated costs and expenses; the

availability of funds; currency fluctuations; general market and industry conditions; competition; the business of the companies not being integrated successfully or such integration proving more difficult, time consuming or costly

than expected; failure of Lithium Americas to enter into an agreement with POSCO to put the Cauchari-Olaroz project into commercial production using POSCO’s proprietary lithium and potash extraction technology; the fact that

POSCO’s extraction technology tested at the Cauchari-Olaroz project is secret and proprietary to POSCO and not subject to any independent economic study; risk of putting a project into production without first completing a

feasibility study; and delays in obtaining shareholder, governmental and regulatory approvals, as well as those factors more fully described under the heading “Risk Factors” in Western Lithium’s annual information form and most

recently filed management discussion & analysis, and described under the heading “Risk Factors” in Lithium Americas' annual information form, available on SEDAR. There is no assurance that forward-looking information will

prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. Western

Lithium and Lithium Americas do not intend, and expressly disclaim any obligation to, update any forward-looking information whether as a result of new information, future events or otherwise, except as, and to the extent

required by, applicable securities laws.

APPENDIX

32

Trends in Energy, Infrastructure & Transportation

Battery costs will continue to rapidly decline

faster driven by steady technology

improvements and economies of scale.

Nearly all ground vehicles will evolve toward

battery electric vehicles as battery costs

drop.

Bulk battery energy storage on the grid will

grow rapidly and further accelerate battery

cost reduction and scale increase.

Nearly completely (95%) autonomous,

connected vehicles will become the new

norm improving safety, efficiency and utility.

The growing EV fleet will integrate with

growing (intermittent) renewables on the grid

to allow 100% non-carbon energy for

electricity and transportation. 33

“Batteries are at a unique intersection

between technology and energy.” – Bernstein & Co., Hong Kong, The Long View:

The Future of Energy Storage Technologies, April 2015.

“Critical materials will be “critical”

in the next 30 years – driven by

spending on renewable energy,

infrastructure, transportation,

and green technologies”

– Rocky Mountain Institute,

“Re-Inventing Fire”

“Advances to the electric grid must

maintain a robust and resilient

electricity delivery system, and energy

storage can play a significant role in

meeting these challenges”

– U.S. Dept of Energy

“Lithium is considered a key,

strategic energy metal in the clean

technology economy.”

– Critical Materials Strategy, US Dept of Energy

34