This research studies a brand new Magnesium Lithium Alloy, LAZ1151, with trace Sc additions. The mechanical properties and microstructures of the as-cast and alloys after three and six month aging were observed and analyzed. Microstructure and XRD confirms the existence of α phase precipitates (Mg rich) in both as-cast and aging specimens of the alloy. Grain growth was observed in the alloy after room temperature aging. The tensile strength of the as-cast LAZ1151 is 147 MPa; the value is decreased to 135 MPa after six month aging, showing typical room temperature softening. Strengthening via the use of cold rolling was tried; a maximum tensile strength of 180 MPa was achieved after 90% rolling reduction, which is mainly due to strain hardening.