Can i learn to read Latin by memorising lists?

Probably not, though it's a possible approach. Vocab will only get you so far in Latin - it would be far more beneficial to learn the grammar thoroughly and work with a dictionary. It doesn't help that words in Latin have a vast number of different meanings depending on context - you can't just learn a single word as a standard translation and then use it every time it comes up. Even a word as simple as et does not only mean and - depending on position and context, it can mean as well, also, too or even (among others).