Lithium Americas Announces Appointment of Luke Colton as EVP and CFO

Rhea-AI Summary

Lithium Americas (TSX: LAC) (NYSE: LAC) has appointed Luke Colton as Executive Vice President and Chief Financial Officer, effective January 29, 2025. Colton brings over two decades of global financial and mining experience to LAC as the company prepares for major construction at Thacker Pass in 2025.

Colton's most recent role was CFO at Minova International (2023-2024). Previously, he served as CFO at Turquoise Hill Resources for over five years, where he was also a director of Oyu Tolgoi, overseeing a multi-billion-dollar copper mine development in Mongolia. His experience includes CFO positions at Richards Bay Minerals and various senior roles at Rio Tinto. Colton, who started his career at Ernst & Young, holds a Masters of Accountancy from Brigham Young University.

Positive

• Appointment of experienced CFO with extensive mining industry background
• Strategic timing ahead of major construction phase at Thacker Pass in 2025
• New CFO brings significant experience in large-scale capital projects and joint venture management

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) today announced the appointment of Luke Colton as Executive Vice President (“EVP”) and Chief Financial Officer (“CFO”), effective Wednesday, January 29, 2025.

“The success of our team is having the right people in the right roles at the right time,” said Jonathan Evans, President and CEO. “Luke’s previous experience developing large-scale capital projects, as well as working with joint venture partners, will be key as Lithium Americas transitions Thacker Pass into major construction in 2025. We are very pleased to have onboard an experienced professional with deep financial management and controls experience as we advance shareholder value by developing a North American lithium supply chain.”

Mr. Colton is a seasoned mining executive with significant financial, statutory, commercial and leadership experience spanning over two decades across multiple global jurisdictions. Most recently, Mr. Colton was CFO of Minova International from mid-2023 to late-2024, responsible for finance, treasury and taxation, and was an important member of Minova’s senior leadership team. Previously, Mr. Colton spent over five years at Turquoise Hill Resources (“THR”) as the CFO, and was a director of Oyu Tolgoi, overseeing the development of a multi-billion-dollar copper open pit and underground mine in Mongolia and the privatization of THR by Rio Tinto. His previous experience includes CFO of Richards Bay Minerals, and he held progressively more senior roles at Rio Tinto including Manager Financial, Capital Accounting and Compliance for Rio Tinto Iron Ore; Principle, Valuations and Analysis for Rio Tinto Controllers; and Manager, Reporting and Control for Rio Tinto Energy America. Mr. Colton began his career at Ernst & Young and holds a Masters of Accountancy from Brigham Young University.

ABOUT LITHIUM AMERICAS

Lithium Americas is committed to responsibly developing Thacker Pass located in Humboldt County in northern Nevada, which hosts the largest known lithium Measured and Indicated resource and Proven and Probable reserve in the world. Thacker Pass is owned by a joint venture between Lithium Americas (holding a 62% interest and is the manager of the Project), and General Motors Holdings LLC (holding a 38% interest). The Company is focused on advancing Thacker Pass Phase 1 toward production, targeting nominal design capacity of 40,000 tonnes per year of battery-quality lithium carbonate. The Company and its engineering, procurement and construction management contractor, Bechtel, entered into a National Construction Agreement (Project Labor Agreement) with North America’s Building Trades Unions for construction of Thacker Pass. The three-year construction build is expected to create nearly 2,000 direct jobs, including 1,800 skilled contractors. Lithium Americas’ shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC. To learn more, visit www.lithiumamericas.com or follow @LithiumAmericas on social media.

FORWARD-LOOKING INFORMATION

This news release 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” (“FLI”)) and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate,” “plan,” “continues,” “estimate,” “expect,” “may,” “will,” “projects,” “predict,” “proposes,” “potential,” “target,” “implement,” “scheduled,” “forecast,” “intend,” “would,” “could,” “might,” “should,” “believe” and similar terminology, or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved). FLI statements in this document are intended to provide LAC security holders and potential investors with information regarding Lithium Americas, including management's assessment of the Company and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect LAC's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose.

The FLI contained in this news release is expressly qualified by these cautionary statements. All FLI in this news release speaks as of the date of this news release. The Company does not undertake any obligation to update or revise any FLI, whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Company’s filings with securities regulators, including the Company’s most recent Annual Report on Form 20-F and most recent management’s discussion and analysis for our most recently completed financial year and, if applicable, interim financial period, which are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. All FLI contained in this news release is expressly qualified by the risk factors set out in the aforementioned documents.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250107980769/en/

INVESTOR CONTACT

Virginia Morgan, VP, IR and ESG

+1-778-726-4070

ir@lithiumamericas.com

Source: Lithium Americas Corp.

FAQ

When will Luke Colton start as CFO at Lithium Americas (LAC)?

Luke Colton will start as Executive Vice President and CFO at Lithium Americas on January 29, 2025.

What is Luke Colton's experience before joining Lithium Americas (LAC)?

Colton was previously CFO at Minova International (2023-2024), CFO at Turquoise Hill Resources for over five years, CFO at Richards Bay Minerals, and held various senior roles at Rio Tinto.

How does Luke Colton's appointment align with LAC's Thacker Pass project?

Colton's appointment aligns with LAC's transition of Thacker Pass into major construction in 2025, bringing valuable experience in developing large-scale capital projects and working with joint venture partners.

What major project experience does LAC's new CFO Luke Colton bring?

Colton oversaw the development of a multi-billion-dollar copper open pit and underground mine in Mongolia (Oyu Tolgoi) and the privatization of Turquoise Hill Resources by Rio Tinto.