Copyright 2011, Pan American Lithium Corp. All rights reserved.

Pan American Lithium Corp.

OTCBB: PALTFToronto TSX-V: PL

Corporate Presentation – Spring-Summer 2011

“Safe Harbor”This presentation contains forward-looking statements regarding the company. Generally, forward-looking statements can be identified by the use

of forward-looking language such as “plans”, “expects”, “budgets”, “schedules”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or

variations of such words and phrases, and statements that certain actions, events or results “may” or “could” occur. Forward-looking statements are

based on the opinions and estimates of the company as of the date of this presentation. Forward-looking statements include, but are not limited to,

statements with respect to: (1) the exploration advancement of the company’s properties from exploration through feasibility to eventual production;

(2) operating costs that are expected to be competitive with other brines projects; (3) being able to acquire and utilize newer commercial proven

technologies that may enhance lithium recoveries; (4) potential for deeper underground brines to be tested by drilling; (5) the company’s market and

production strategy; (6) the company’s operational plan; and (7) the Mexican geothermal plant being quick to market against other new lithium

related projects.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of

activity, performance or achievements of the company to be materially different from those expressed or implied by such forward-looking

statements, including, but not limited to, risks related to: (1) a downturn in general economic conditions; (2) a decreased demand or price of lithium

and other minerals; (3) unexpected events or delays in the acquisition, exploration and advancement of the company’s projects; (4) the uncertainty

of government regulation and politics in North America and Chile regarding mining and mineral exploration; (5) potential negative financial impact

from regulatory investigations, claims, lawsuits and other legal proceedings and challenges; (6) the inability to obtain the necessary permits and

approvals for the further development of the company’s projects, including environmental agencies; (7) inability of the company to raise financing

necessary to develop projects and continue operations; and (8) other factors beyond our control. Additional information about these and other

assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the company’s management, discussion and analysis

filed with Canadian security regulators. at www.sedar.com.

Although the company has attempted to identify important factors that could cause actual results to differ materially from those contained in the

forward-looking statements in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There

can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those

anticipated in such statements. Accordingly, you should not place undue reliance on forward-looking statements contained in this presentation. The

company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future

events or otherwise, except as required by law.

This presentation is for investment professionals only and is not intended for investors who are not sophisticated with respect to exploration stage

mining investments. The information contained herein is confidential and is property of Pan American Lithium Corp. You may use this information

for your own personal reference only. You may reproduce this information in hard copy solely for your personal use. The information may not be

otherwise be reproduced and must not be distributed or transmitted to any other person or incorporated in anyway into another document or other

material without the express written consent of Pan American Lithium Corp.

Cautionary Note to U.S. Investors Concerning Estimates of Inferred Resources

The information presented in this Presentation uses the term “inferred mineral resources.” United States investors are advised that while such term

is recognized under Canadian securities regulations, the United States Securities and Exchange Commission does not recognize this term. The

term “inferred mineral resources” has a great amount of uncertainty as to its existence and as to its economic and legal feasibility. It cannot be

assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred

mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or

any part of an inferred mineral resource exists or is economically or legally mineable.

Investment Highlights

3

Management & technical team with specialized country and mining industry expertise

Opportunity to participate in rapid advancement of Chilean salar(1) properties

Rights in 11 salars in Region III, Chile (containing Li and other metals)

All projects are brine salars – typically brine salars are lowest quartile of global operating costs

First Project (Laguna Verde) goal to extract Lithium (Li) and other light metals initially from brine lake and then from deeper brines

Inferred resource estimate at average Li grade of 212.40 mg/litre computed to be 512,960 metric tons of lithium carbonate equivalent (2) (current average market price ~ $5,200/metric ton; Source: "The Lithium Site," http://www.lithiumsite.com/Lithium_Market.html, July 8, 2010)

Inferred resource estimate at average potassium (K) grade of 4,881mg/litre computed to be 4,223,134 metric tons of potassium chloride equivalent (2) (potash market price ~ $367/metric ton; Source: as per Reuters quote regarding potash pricing of KTS, a German salt miner and the world's 4th largest potash supplier, July 11, 2010)

Surface brine lake – many physical advantages, management anticipates rapid exploration advancement to preliminary assessment/pre-feasibility, and potential to be in production before most of our competitors

Separate opportunity: option to extract minerals from evaporated brine runoff at world’s second largest geothermal electric plant (in Mexico)

(1) Salar: brine lakes and dry lake beds(2) For more information, see NI-43-101 Technical Report filed with SEDAR on July 14, 2010

Proven Leadership TeamAndrew Brodkey, CEO, President and Director Over 25 years as a mining engineer, lawyer and senior executive at major mining companies with

emphasis on Latin America

Dr. David Hackman, Vice President, Exploration Geologist and a registered professional engineer with over 35 years international experience

specializing in the evaluation of leachable metal deposits in the Americas

John Hedges, Director of Project Development 38 years experience in the mining industry as a geologist and mineral economist

Dr. David Terry, Independent Director and member of Technical Advisory Committee Ph.D. geologist and holds P. Geo license with over 20 years of experience in the resource sector

focused on exploration for a wide spectrum of mineral deposits throughout North and South America. Dr. Terry is a Qualified Person under NI 43-101

Dr. Ronald Richman, Independent Director and member of Technical Advisory Committee Ph.D. chemist with over 30 years as senior executive with IBM where he managed a global

business unit

Dr. Tim Lowenstein, member of Technical Advisory Committee Ph.D. geologist and geochemist, Professor in Department of Geological Sciences and

Environmental Studies at Binghamton University in New York, over 25 years of experience in sedimentology and low temperature geochemistry applied to chemical sediments, specifically including brine geochemistry at salars in Chile 4

Market Overview

5

S. American salars (Chile, Bolivia, Argentina) provide ~75% of global Li supply

Lithium evaporation and recovery projects = low operating and capital costs; technologically proven; ease of design/construction

Deep salar brines may contain volumes of light metals that are orders of magnitude greater and with a higher Li content than shallow lakes

Lithium demand fueled by growth in battery industry and use in automobiles, electronics, etc.

Overall demand growing 5% per annum (with battery demand increasing over 25% annually)

Total lithium carbonate demand was ~45,000 metric tons (1997) rising to ~85,000 tonnes (2007), to ~92,000 tonnes (2008), rising to ~110,000 tonnes (2009) – predicted to increase further (some project > 200,000 metric tons by 2015 – 2020)

Chilean Salar Overview – 11 Sites

6

1. Salar de Piedra Parada2. Laguna Brava3. Lagunas del Jilguero4. La Laguna5. Rio de la Sal/Pedernales6. Laguna Verde7. Salar de Wheelwright8. Laguna Escondida9. Salar Ignorado10. Salar de Maricunga11. Llanta Project

PAN AMERICAN

PROJECT LOCATIONS

10

11

Laguna Verde Overview

7

Laguna Verde Project Atacama Region III, Chile — deep Surface Brine Lake on 3,400 hac. of mineral concessions

390 km from Copiapo (regional capital) on serviceable roads at 4,230 m elevation

Surface Lake Inferred resource estimate at average lithium grade of 212.40 mg/liter computed to be 512,960 metric tons of lithium carbonate equivalent (NI-43-101 compliant)

Surface Lake Inferred resource estimate at average potassium grade of 4,881 mg/liter computed to be 4,223,134 metric tons of potassium chloride equivalent (NI-43-101 compliant)

High potential for significant tonnage of deeper brines, with higher Li content, below lake and in surrounding geothermal basin pending exploration drilling

Laguna Verde Competitive Advantage

8

Resource estimate for surface lake established without exhaustive exploration and drilling

100% of project owned outright (subject to small royalties)

No 3rd parties with adjacent concessions/potential conflicts

Project water rights applied for – any objections expected to be resolved

Year-round road access

Low transport costs to ports on west coast of Chile

Lithium grade at Laguna Verde surface lake is 212.4 mg/liter (minimum)

Operating costs expected to be competitive with other Li brines projects

Rapid advancement of surface lake project to scoping/pre-feasibility (bids now under review), followed by permitting, engineering and full feasibility –3 to 4 years to commencement of production anticipated

Ability to acquire and utilize newer commercial, proven technologies which provide substantially enhanced Li recoveries

Strong potential for additional brine resources in basin surrounding lake

Additional Chilean Salar Opportunities

9

Laguna Brava Project – Region III, Chile – shallow Brine surface Lake; 4,400 hac.: Inferred resource estimate in lake at average lithium grade of 313 mg/litre

computed to be 13,580 metric tons of lithium carbonate equivalent Inferred resource estimate at average potassium grade of 3,356 mg/litre

computed to be 46,623 metric tons of potassium chloride equivalent Strong potential for deeper, underground brines to be tested by drilling

Salar de Pedernales/Rio de la Sal:• Mineral concession position of 5,100 hac. on second largest salar in Chile • Sampling from trenching showed Li >1000 ppm and Potash over 8700 ppm

Additional Brine Projects with Lithium Potential (all in Region III): Salar de Maricunga: 1,220 hac. on third largest salar in Chile Llanta Project: 3,000 hac. in accessible basin with strong infrastructure Lagunas Jilgueros: small lake with deep brines unexplored La Laguna: small lake with deep brines undrilled Salar de Piedra Parada: 2,100 hac. of uplifted sediments containing Li and base

and precious metals; unexplored Salar de Wheelwright: 1,200 hac. north of Laguna Verde; undrilled Laguna Escondida: small unexplored salar near Piedra Parada Salar Ignorado: small unexplored salar in far NE corner of Region III

Chile Geopolitical Advantages

10

Low political/regulatory and permitting risk for mining projects Significantly Lower Political Risk vs. other South American countries

Chile: World's No. 1 copper producer with center-right government of Sebastian Piñera with pro-business credentials

Argentina: Soaring inflation, debt crisis, shortages of natural gas, electricity and labor, demands for higher wages, and inability to project finance

Bolivia: Recent threats by President Evo Morales to “nationalize” mining concessions; announcement that Bolivia will develop Li by itself at huge Salar de Uyuni

Venezuela: President Hugo Chavez caused panic after he threatened to nationalize the country's gold industry accusing "capitalist mafias" in the industry of destroying environment & exploiting workers

Mining represents 23.5% of GDP in Chile(1)

Over 150 year history of support for mining industry Political, economic and social stability Independent Judiciary, Parliament, Government Mining project finance, tax, royalty, capital repatriation and other corporate,

fiscal and financial advantages over other South American countries

(1) Source: Chilean Mining Council presentation, March 2008

Market and Production Strategy

11

Laguna Verde enters production from surface lake waters roughly 3-4 years from commencement of exploration

Enter market at modest production rate (target: 10,000 to 15,000 metric tons/yr. of lithium carbonate)

Seek status as secure supplier under long-term contracts

So production from all salars can be ramped up at market pricing

Create relationship with one or more large international counterparty (battery, or car electronics manufacturer, or multinational trading house):

Counterparty to provide equity funding and/or project financing to build facilities in return for provision of Lithium off-take rights or marketing arrangement

Potential for counterparty to underwrite costs of exploration, scoping, pre-feasibility and full feasibility studies in order to earn project equity

Pan Am Lithium Competitive Advantages

12

100% of all 11 projects owned outright – subject only to capped NSR royalties and 1% Chilean nominee in holding company

At most salars there are no adjacent or adjoining claim holders Year-round road access to all projects Senior water rights status applied for at key projects Lithium grade at Laguna Verde = 212.4 mg/liter yielding inferred

resource estimate of 512,960 metric tons lithium carbonate equivalent(1) as per NI 43-101 compliant Technical Report

No required drilling /no hydrology determination necessary at Laguna Verde surface lake

Potential to expand resource at Laguna Verde through exploration Pan American Lithium now commencing scoping, pre-feasibility and

process design at Laguna Verde Exploration commencing at several other key salars to develop initial

resources numbers and expand resource base

(1) See NI-43-101 Technical Report filed on SEDAR on June 14, 2010, for more information

Initial Operational Plan – Chile

13

Laguna Verde - Year 1 Sampling and volumetric calculations of contained light metals in surface lake waters (completed) Inferred resource estimate (completed April 2010) Filed backup technical reports that support the inferred resources estimate (completed June 2010) Tenders for brine chemistry process design, scoping study (completed December 2010) Select and engage consulting/engineering firm for scoping study (by June 2011) Commence scoping study (3-4 months) Select and engage consulting/engineering firm for surface lake pre-feasibility study

Laguna Verde - Year 2 Complete surface lake pre-feasibility study (9-10 months) Tenders for feasibility study for surface water exploitation facilities - target 10,000- 15,000 tpy of Li2CO3

Start preliminary design/engineering of facilities to recover light metals from surface waters Commence permitting of facilities for production from surface lake Update surface lake resource calculation through sampling and additional analysis to indicated or measured

resource category, and begin exploration program for deeper brines

Laguna Verde - Years 3 & 4 Undertake and complete construction of surface water facility(1) and commence commercial production Continue exploration program for deeper brines Scoping, pre-feasibility, feasibility and conceptual engineering based on the deeper resource base Commence permitting and construction process for full scale deep brine operation Design, construct, and commission deep brine recovery plant Commence operations from deeper brines

Llanta, Laguna Brava and Rio de la Sal/Pedernales Exploration programs planned followed by a similar strategy as above as locations are prioritized

(1) Subject to completion of satisfactory feasibility study and contingent on adequate financing

Mexico Geothermal Lithium Project

14

Opportunity to commercially exploit mineral-rich brines a residual by-product from world’s second largest geothermal power plant

Project ROI/IRR enhanced due to substantial existing infrastructure: geothermal plant, well fields, evaporation ponds and related facilities

Quick to market measured against other new lithium related projects since much of the recovery facilities already exist

No exploration/drilling risk; straightforward permitting process; competitive operating costs expected

Mineral Geothermal Brine Recovery

15

Plant powered by steam brines drawn from 170 geothermal wells tapping solutions that were volcano feeder system. Avg. static brine flow is 5.7 M Gal/day

Fresh brines funnel through 6 square miles of existing sequential evaporation ponds designed to concentrate metals values to some 11.7X original salt content

On average, 40% steam channelled to generating plants and 60% brine by-product sent to evaporation ponds

Existing evaporation ponds separate minerals sequentially

Baja California 30 km South of Mexicali, 40 km South of US border

Mexico Geothermal Highlights

16

Brines expected to contain economic quantities of Lithium and potassium

Brines delivered at minimal cost and can be exploited for rich mineral content

Potential for commercial-scale industrial mineral brine recovery

Mexico Geothermal Project Update

17

On December 18, 2009, Pan American Lithium Corp. acquired an option, from Escondidas Internacional S.A. de C.V., a privately-held Mexican corporation, to acquire indirect interest in the Cerro Prieto geothermal brine project in Baja California Norte, Mexico.

The option is to acquire 76% of the issued and outstanding shares of Escondidas.

The parties have amended the original option agreement four times. The effect of the amendments was to extend the closing date to October 31, 2011, and reduce the consideration payable by the Company under the Agreement as follows: 5 million shares and 5 million warrants to be issued at closing (one-

half of original amounts)

Payments due post-closing are measured from date of commencement of commercial production, instead of date of closing

Monthly payments due to Escondidas are reduced from $25,000 to $1,000

Use of Proceeds – 2 Year Program – $20 Million Target Capital Raise

• Laguna Verde/Chile

– Scoping and Pre-Feasibility Studies (Years 1-2) $2.0 million

– Lake and deeper Resource Exploration (Years 1-2) $3.0 million

– Surface Lake Full Feasibility Study (Year 2) $8.0 million

(includes permitting and prelim. engineering)

– Exploration programs for add. Salars (Year 2) $2.0 million

• Cierro Prieto — Scoping/Pre-Feasibility (Year 1-2) $2.0 million

• Corporate Overhead/G&A

– $100K/mo. for 2 years $2.4 million

TOTAL = $19.4 Million

NOTE: the acquisition of a strategic partner could offset some of these amounts and allow Pan Am to advance/accelerate other projects in the portfolio

18

Laguna Verde – Projected Capex and Timeline (10,000 tpy Li Carbonate Facility)

Yr. 1

• Scoping Study/process selection 3-4 months $300K

• Pre-Feasibility Study/upgrade estimate 9-10 months $1.7 million

• Additional exploration (lake and basin) 12 months $2 million

Yr. 2

• Full Feasibility Study (FS)/reserve estimate 9-10 months $6-7 million

• Permitting 12 months $1 million

• Preliminary Engineering (after FS) 3-4 months $1-2 million

• Exploration of Subsurface Brines 12 months $3.0 million

Yr. 3

• Construction of Li/K facility (lake only) 1 full year $150-200 MM (2)

Yr. 4

• Working capital/commence production from lake $10 million

• Additional deep brine exploration $5 million

• Scoping/pre-feasibility studies—deep brines $5 million

TOTAL = $237 million(1) Project-only capital; does not include corporate overhead or G&A

(2) Estimated that up to 80% of capital requirements can be project-financed 19

Comparative Status of New Li ProjectsCOMPANY AND PROJECT NAME

COUNTRY NI 43-101 RESOURCE (Li

carbonate)

SCOPING & PRE-FEAS. STUDIES

OFFTAKEPARTNERS

NEXT STEPS

Li Americas – Salar de Olaroz

Argentina 4.9 MM tonnes no MitsubishiMagna

Hydrological studies, pump tests, brine extractability

Lithium One – Sal de Vida

Argentina 5.4 MM tonnes no KORES Brine sampling, drilling,pump tests, evap. tests

Salares Li/Talison –Salar de Isla Chile

no no none Geophysics, road building,exploration

American Li –Clayton Valley

USA no no JOGMEC Exploration—hard rock project only

Simbol Mining—Salton Sea

USA no no Itochu Brine chemistry design

Sentient – Salar de Rincon

Argentina 7.4 MM tonnes unknown none Pilot plant commissioning

Canada Li –Quebec

Canada 1.9 MM tonnes Yes – March2010

Mitsui(marketing)

Infill drilling, feasibility study

Western Li – Kings Valley (Nevada)

USA 880,000 tonnes Yes – Jan. 2010

none Infill drilling, pilot plant construction and testing

Pan American Li –Laguna Verde

Chile 512,000 tonnes Ready to commence

? Brine chemistry design, scoping and pre-feasibility

COMPANY AND

PROJECT

PARTNERENTITIES

TOTAL $ COMMITTED OR

INVESTED

MINIMUMCOMPANY

EQUITY POSITION

PROJECT EQUITY

POSITION OBTAINED

OFFTAKE RIGHTS

PROJECT FINANCING COMMITMENT

ESTIMATED VALUATION OF PROJECT

LithiumAmericas (Salar de Cauchari)

Mitsubishi

Magna Int’l

$3 MM

$5.56 MM

4%

9.9%

n/a 12.5% of production

25% of production

Proportional to offtake percentage

$56-75 million based on initial

investments

Lithium One (Sal de Vida)

KORES $15MM for feasibility study,

etc.

n/a 30% 50% of Li plus marketing rights

Full (100%) project completion guarantees

$50 million (Lithium only)

AmericanLithium

JOGMEC $4MM (hardrockproject)

n/a 40% unknown unknown unknown

OrocobreLtd. (Salar de

Olaroz)

Toyota TsushoJOGMEC

$4.5MM plus 25% of NPV of project

n/a 25% To be negotiated

JOGMEC—60% completion guarantee

NPV to be determined

Canada Lithium

none $110 million project financing

raised (banks)

n/a n/a n/a $110 million $270 million per feasibility

study

SimbolMining

Itochu unknown n/a 20% Assumed at 20% Assumed at 20% unknown

Salares Li (7 Chilean salars)

TalisonMinerals

merger as of 15July2010

n/a n/a n/a n/a $85 million company valuation

ErrazurizGroup

(NXOne)

KORES and Samsung

$190 million none 30% unknown $190 million $633 million

Pan AmericanLithium

Underconsideration

n/a flexible flexible flexible flexible

Capital Structure / Share Price

(1) 3,150,000 options (average strike price of $.38) and 11,678,740 warrants (average strike price of $.30) outstanding

22

Shares outstanding (as of 4/29/11) 38,100,943

Options and Warrants (1) 14,828,740

52-Week High/Low $0.80 – 0.14

Recent Price (as of 4/29/11) $0.18

Recent Market Cap $6.9 million

Investment Highlights

23

Management & technical team with specialized country and mining industry expertise

Opportunity to participate in rapid advancement of Chilean salar(1) properties

Rights in 9 salars in Region III, Chile (containing Li and other metals)

All projects are brine salars – typically brine salars are lowest quartile of global operating costs

Project 1 (Laguna Verde) goal to extract Lithium (Li) and other light metals initially from brine lake and then from deeper brines

Inferred resource estimate at average Li grade of 212.40 mg/litre computed to be 512,960 metric tons of lithium carbonate equivalent (2) (current average market price ~ $5,200/metric ton; Source: "The Lithium Site," http://www.lithiumsite.com/Lithium_Market.html, July 8, 2010)

Inferred resource estimate at average potassium (K) grade of 4,881mg/litre computed to be 4,223,134 metric tons of potassium chloride equivalent (2) (potash market price ~ $367/metric ton; Source: as per Reuters quote regarding potash pricing of KTS, a German salt miner and the world's 4th largest potash supplier, July 11, 2010)

Surface brine lake – many physical advantages, management anticipates rapid exploration advancement to preliminary assessment / pre-feasibility, and potential to be in production before most of our competitors

Separate opportunity: option to extract minerals from evaporated brine runoff at world’s second largest geothermal electric plant (in Mexico)

(1) Salar: brine lakes and dry lake beds(2) For more information, see NI-43-101 Technical Report filed with SEDAR on July 14, 2010

Appendix A: Company SnapshotStock Exchange/Ticker: Pink Sheets: PALTF; TSX-V: PL

Recent Price (4/29/11): $0.18

Weighted Avg. Shares Outstanding: (11/1/10) 38,100,943

Market Cap: $6,858,169

2009-10 Revenue: $0

Canadian GAAP 2009-10 12 Mo. Net Income (Loss) (1) : ($1,388,366)

Canadian GAAP 12 Mo. Basic/Diluted Net Income (Loss) Per Share(1) : ($0.10)

US GAAP 2009-10 12 Mo. Net Income (Loss) (1) : ($5,238,543)

US GAAP 12 Mo. Basic/Diluted Net Income (Loss) Per Share(1) : ($0.39)

Long-term Debt (2/28/10): $0

Canadian GAAP Shareholder’s Equity (2/28/10) (1) : $5,649,890

Fiscal Year End: February 28

Inside Ownership: 11%

24(1) Canadian Dollars

Copyright 2011, Pan American Lithium Corp. All rights reserved.

OTCBB: PALTFToronto TSX-V: PL

Contact Information:

Jeff Ramson

ProActive Capital Resources Group

Tel: (212) 623-3090

Email: www.proactivenewsroom.com

www.PanAmericanLithium.com