We perform the simultaneous $|V_{ub}|$ and $|V_{cb}|$ extractions with only the exclusive $Lambda_b$ decays of $Lambda_bto (p,Lambda_c^+)mubar u_mu$, $Lambda_bto ppi^-$ and $Lambda_bto Lambda_c^+ (pi^-, D^-)$. We obtain that $|V_{ub}|=(3.7pm 0.3)times 10^{-3}$ and $|V_{cb}|=(45.9pm 2.7)times 10^{-3}$. Our value of $|V_{ub}|$ is larger than that of $(3.27pm 0.15pm 0.16pm 0.06)times 10^{-3}$, previously extracted by the LHC Collaboration from the exclusive $Lambda_b$ decays also, but nearly identical to $(3.72pm 0.19)times 10^{-3}$ from the exclusive $B$ decays. On the other hand, our extracted result of $|V_{cb}|$ favors the value of $(42.2pm 0.8)times 10^{-3}$ from the inclusive $B$ decays.