LIVIUM LTD — Capital/Financing Update 2015

Oct 18, 2015

NL

19 October 2015

ASX ANNOUNCEMENT

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Aust ~~r~~ alia

COMPANY DETAILS

Notification of Call on Partly Paid Shares

LITHIUM AUSTRALIA NL ABN : 29 126 129 413 ASX CODE: LIT & LITCB

HIGHLIGHTS

 Lithium Australia makes call on Partly Paid Shares (LITCB)

PRINCIPAL AND REGISTERED OFFICE

Suite 3 23 Belgravia Street Belmont WA 6104

P +61 8 6145 0288 F +61 8 9475 0847

 Call due and payable on 6 November 2015 +

Lithium Australia NL (LIT) wishes to advise the call of $0.01 per share on the quoted partly paid shares (LITCB) to raise at least $366, 680.01 (before costs). The quoted partly paid shares are currently paid to $0.011 (unpaid $0.039). An Appendix 3A.6 is attached.

POSTAL ADDRESS

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PO Box 588 Belmont WA 6984

CORPORATE INFORMATION

(19 October 2015) 134M Ordinary Shares 37M Listed Partly Paid Shares 15M Unlisted Partly Paid Shares 21M Unlisted Options 10M Performance Rights 9M Performance Option Rights

BOARD OF DIRECTORS

George Bauk (Non-Executive Chairman) Adrian Griffin (Managing Director) Bryan Dixon (Non-Executive Director)

For further information contact:

Indicative Timetable

The indicative timetable ( + ) for the Call is as follows:

Event	Date
Company announces call date and amount	19 October 2015
Company gives draft documents to ASX	19 October 2015
The later of: • The Company sending call notices to all holders on whom the call is made. • The Company notifying ASX of extension of call date(if required)	23 October 2015
Last day for trading partly paid call unpaid shares	5 November 2015
Call due and payable – deferred settlement commences(LITCCpaid upto$0.021)	6 November 2015
Last day for Company to accept transfers of partly paid shares call unpaid	12 November 2015
+Issue date. Last day to enter the call paid on the+securities into the register	19 November 2015

+ Please note that the timetable is subject to change. The Company reserves the right to vary the timetable for the Call without notice, subject to the Corporations Act, ASX Listing Rules and other applicable laws.

Lithium Australia NL Adrian Griffin (MD)

Tel: +61 (08) 6145 0288 Email: info@lithium-au.com Web: www.lithium-au.com

MEDIA CONTACT:

Adrian Griffin Lithium Australia NL 08 6145 0288 | 0418 927 658 Kevin Skinner Field Public Relations 08 8234 9555 | 0414 822 631

ABOUT LITHIUM AUSTRALIA

Lithium Australia (LIT) has exclusive technology licences to recover lithium from micas; minerals not generally used as a source of lithium chemicals. The Company considers this to be a disruptive technology with the potential to displace more conventional lithium production. LIT has a non-binding Heads of Agreement with European Metals Holdings Limited to process lithium mineralisation at Cinovec in the Czech Republic on a 50/50 JV basis. Cinovec contains abundant lithium micas and is one of the world’s largest hard-rock lithium occurrences. In addition, LIT has strategic alliances with Pilbara Minerals Limited, Focus Minerals Limited and Tungsten Mining NL, to investigate lithium and rare metals in prospective locations of Western Australia close to well-developed infrastructure. LIT has lithium exploration assets near Greenbushes and Ravensthorpe in Western Australia. LIT is also evaluating other European opportunities.

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This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6 Notification of call – no liability company or Call/instalment – entities except no liability companies

+Rule 3.20.4, 6.12, 6.13, 15.3, - Appendix 6A paragraphs 4 and 5.

Appendix 3A.6

Notification of call – no liability company or call/instalment – entities except no liability companies

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public. Please note that two or more corporate actions on the same[+] security may not run with different record dates if the timetables result in overlapping (but not identical) ex-periods. It is permissible to run different corporate actions with the same record date except in the case of reorganisations – consolidations/splits which cannot run at the same time as any other corporate action for that entity.

If you are an entity incorporated outside Australia, for[+] securities other than CDIs / depository interests, please obtain and provide an International Securities Identification Number (ISIN) for the class(es) of[+] securities to be created during your corporate action. The ISIN(s) should be advised in the Further Information section of this

form. Further information on this requirement can be found in the Online Forms section of ASX Online for companies.

*Denotes minimum information required for first lodgement of this form.

**Denotes information that must be provided on or before +business day 0 of the relevant Appendix 6A or Appendix 7A timetable.

The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 – Entity and announcement details

Question no	Question	Answer
1.1	*Name of entity	Lithium Australia NL (formerly Cobre Montana NL)
1.2	*Registration type and number One of ABN/ARSN/ARBN/ACN or other registration type and number (if “other” please specify what type of registration number has been provided).	ACN 126 129 413
1.3	*ASX issuer code	LIT
1.4	*The announcement is Tick whichever is applicable.	X New announcement _Ad_Update/amendment to previous announcement _Ad_Cancellation of previous announcement Not Applicable
1.4a	*Reason for update Mandatory only if “Update” ticked in Q1.4 above. A reason must be provided for an update.
1.4b	*Date of previous announcement to this update	Not Applicable

• See chapter 19 for defined terms

22 September 2014

Page 1

This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6

Notification of call – no liability company or Call/instalment – entities except no liability companies

		Call/instalment – entities except no liability companies
	Mandatory only if “Update” ticked in Q1.4 above.
1.4c	*Reason for cancellation Mandatory only if “Cancellation” ticked in Q1.4 above. If information has previously been provided in Part 3D of the form “Preference+security distribution rate details” please also confirm whether the rate changes remain in place for the +security or are also cancelled.	Not Applicable
1.4d	*Date of previous announcement to this cancellation Mandatory only if “Cancellation” ticked in Q1.4 above.	Not Applicable
1.5	*Date of this announcement The date of lodgement of the form by the entity via ASX Online.	19 October 2015
1.6	*Applicable ASX+security code and description for call / instalment Please select the+security to which the notification applies. Only one+security can be selectedfor eachform.	ASX+security code: LITCB +Security description: Partly Paid Shares

Part 2 – Call (instalment) details

Not all dates apply to all entities. Please read the notes carefully and only fill in the relevant items

Question No.	Question	Answer
2.1	*Incorporation status Please provide a description of the listed entity incorporation status e.g. No Liability, Limited by shares; Trust; etc.	No Liability
2.2	*Is this a final call (instalment) If “yes” please answer Q2.2a, and don’t answer Part 4 and 5. If “no” go to 2.2b.	No
2.2a	*If final call (instalment), does the call (instalment) paid +security rank with a quoted +security? If “yes” please answer Q2.2b, if “no”, go to Q2.2c.	Not Applicable
2.2b	*Call (instalment) paid +security code and description	+Security code: LITCB +Security description: Partly Paid Shares
2.2c	*If non-ranking, what will the +security description be after the final call is paid?	Not Applicable
2.3	Call (instalment) due date NL COMPANIES: This date must be at least ten +business days from the date call notices are sent and not more than twenty +business days from the date call notices are sent. OTHER ENTITIES:*This date must be at least thirty +business days from the date call(instalment) notices are sent and not	6 November 2015

• See chapter 19 for defined terms

22 September 2014

Page 2

This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6 Notification of call – no liability company or Call/instalment – entities except no liability companies

		Call/instalment – entities except no liability companies
	more than forty +business days from the date call(instalment) notices are sent.
2.4	Date call (instalment) notices sent to+security holders NL COMPANIES:This date must be at least ten+business days before the call due date and not more than twenty +business days before the call due date. OTHER ENTITIES:This date must be at least thirty+business days before the call (instalment) due date and not more than forty+business days before the call (instalment) due date.	23 October 2015
2.5	Last day for trading in partly paid “call unpaid” +securities NL COMPANIES:this date is one+business day before the call due date. OTHER ENTITIES:*This date is ten+business days before the call (instalment) due date. Please note that for entities other than No Liability companies, if the+securities will become fully paid, the entity applies for quotation at least two+business days before trading on a+deferred settlement basis begins. Please note that this date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in the partly paid “call unpaid”+securities.	5 November 2015
2.5a	Forentities other than No Liability companies, first day of trading on a “call paid”+deferred settlement basis. If partly paid +securities have become fully paid, the market in partly paid+securities ceases This date is the next+business day after the last day for trading in partly paid “call unpaid”+securities. Please note that this date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in the partly paid “call unpaid”+securities.	Not Applicable
2.5b	Forentities other than No Liability companies, last day for settlement of partly paid “call unpaid” trades. This date is T+3 from the last day for trading in partly paid “call unpaid” +securities.	Not Applicable

• See chapter 19 for defined terms 22 September 2014

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This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6 Notification of call – no liability company or Call/instalment – entities except no liability companies

2.5c	_Forentities other than No Liability companies*, Call (instalment)+record date (last date for lodgement with the entity for registration of partly paid +securities without call (instalment) money attached) _This date is five+business days before the call (instalment) due date. Please note that the+record date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in the partly paid “call unpaid”+securities.	Not Applicable
2.5d	Forentities other than No Liability companies, entity sends notices to new +security holders and those holders whose holdings have changed since it sent the first notices (“second notice”). This date is at least four+business days before the call(instalment) due date.	Not Applicable
2.6	Call (instalment) due date For No Liability Companies – if partly paid+securities have become fully paid the market in partly paid +securities ceases. +Deferred settlement trading in call paid +securities commences. NL COMPANIES:This date must be at least ten+business days from the date call notices are sent and not more than twenty +business days from the date call notices are sent. Same as Q2.3 above. OTHER ENTITIES:this date must be at least thirty+business days from the date call (instalment) notices are sent and not more than forty+business days from the date call (instalment) notices are sent. Same as Q2.3 above. Please note that the call (instalment) due date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in thepartly paid “call unpaid”+securities.	6 November 2015
2.6a	ForNo Liability Companies, call+record date. Last day for entityto accept	12 November 2015

• See chapter 19 for defined terms 22 September 2014

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This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6 Notification of call – no liability company or Call/instalment – entities except no liability companies

		Call/instalment – entities except no liability companies
	transfers of partly paid call unpaid+securities This date must be four+business days after the call due date. Please note that the+record date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in the partly paid “call unpaid”+securities.
2.7	Call (instalment)+issue date +Deferred settlement trading in call paid +securities ends NL COMPANIES:this date must be nine +business days after the call due date. This is the date that the call paid on the +securities is entered into the register. OTHER ENTITIES*: This date must be no more than five+business days after the call (instalment) due date. This is the date that the call or instalment paid on the +securities is entered into the register. Please note that the+issue date cannot be changed any later than 12 noon Sydney time on theprevious+issue date advised.	19 November 2015
2.8	Normal T+3 trading commences This date is the+business day after+issue date.	20 November 2015
2.9	First settlement of +deferred settlement trades and normal T+3 trades This date is four+business days after+ issue date.	25 November 2015
2.10	*Call (instalment) total amount per+security Please provide the total amount of the call _(instalment). _	$0.01 per security
2.10a	Call (instalment)capital amount This amount together with the premium amount, if any, should equal the total call (instalment) amount per+security. Most entities will only have a capital amount (in which case please populate this field with the same amount as the total amount). Foreign entities, in respect of+securities with a par value, or Australian entities, in respect of partly-paid+securities issued before 1 July 1998, are more likely to have a premium component to the call (instalment).	$0.01 per security
2.10b	Call (instalment)premium amount This amount together with the capital amount, if any, should equal the total call (instalment) amount per+security. Most	Not Applicable

• See chapter 19 for defined terms 22 September 2014

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This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6 Notification of call – no liability company or Call/instalment – entities except no liability companies

		Call/instalment – entities except no liability companies
	entities will only have a capital amount (in which case please populate this field with zero). Foreign entities, in respect of +securities with a par value, or Australian entities, in respect of partly-paid +securities issued before 1 July 1998, are more likely to have a premium component to the call(instalment).
2.11	*Currency in which the call (instalment) is to be paid Call currency will be the currency in which all other fields relating to the call (instalment) will appear.	Australian Dollars ($)
2.12	If the call is not in AUD, AUD equivalent total call (instalment) amount per+security ASX publishes an AUD equivalent amount for non-AUD calls. If this amount is not provided by the entity it is calculated and published using the RBA rate of exchange on the last day of trading of the partly paid call unpaid+securities – item 2.5 above. The entity should only populate this field if an actual amount is known. If amount not known please answer 2.12c. If knowngo to 2.12a, b and d.	Not Applicable
2.12a	AUD equivalent call (instalment) capital amount This amount together with the premium amount, if any, should equal the AUD equivalent total call (instalment) amount per+security. Most entities will only have a capital amount (in which case please populate this field with the same amount as the total amount). Foreign entities, in respect of+securities with a par value, or Australian entities, in respect of partly- paid+securities issued before 1 July 1998, are more likely to have a premium component to the call(instalment).	$0.01
2.12b	AUD equivalent call (instalment) premium amount This amount together with the capital amount, if any, should equal the AUD equivalent total call (instalment) amount per+security. Most entities will only have a capital amount (in which case please populate this field with zero). Foreign entities, in respect of+securities with a par value, or Australian entities, in respect of partly-paid+securities issued before 1 July 1998, are more likely to have a premium component to the call (instalment).	Not Applicable
2.12c	If AUD equivalent not known, date for information to be released	Estimate or Actual Not Applicable

• See chapter 19 for defined terms 22 September 2014

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This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6

Notification of call – no liability company or Call/instalment – entities except no liability companies

2.12d	FX rate (in format AUD 1.00 / Declared currency rate):	AUD1.00 / Not Applicable

Part 3 – Forfeiture details

Question No.	Question	Answer
3.1	Forfeit sale date Refer to Listing Rules 6.12 and 6.13 on forfeiture and divestment of +securities.	Estimate – approximately 18 December 2015
3.2	Forfeiture description Please provide a description of the forfeitureprocess including relevant dates	Public Auction of LITCB’s not taken up

Part 4 – Details of +security following this call

Part 4 to be completed if call (instalment) is not final.

Question No.	Question	Answer
4.1	Paid*amount of the face value of the+security after the call (instalment) is paid Please provide the amount paid up on the face value of the+securityafter**the call (instalment) which is the subject of this notice ispaid.	$0.021 per security
4.2	Unpaid*amount of the face value of the+security after the call (instalment) is paid Please provide the amount unpaid on the face value of the+securityafter**the call (instalment) which is the subject of this notice ispaid.	$0.029 per security
4.3	*Total Please provide the total face value of the +security (should be the addition of Q4.1 _and 4.2). _	$0.05 per security

• See chapter 19 for defined terms 22 September 2014

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This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6 Notification of call – no liability company or Call/instalment – entities except no liability companies

Part 5 – Next call (instalment)

Part 5 to be completed if call (instalment) is not final.

Question No.	Question	Answer
5.1	Date on which next call (instalment) due Please provide the actual or estimated _due datefor the next call(instalment). _	Estimate or Actual – Unknown at this stage
5.2	Comments relating to next call (instalment) Please provide further information relating to the next call (instalment) if known e.g. amount.	The Company cannot call more than 2 cents in any 6 month period.
Part 6 –	Further Information relatingto this call(instalment)
Question No.	Question	Answer
6.1	Further information relating to this call (instalment) Please provide any further information _relating to this call(instalment). _

Introduced 22/09/14

• See chapter 19 for defined terms 22 September 2014

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