American Lithium Adds Further Concessions Close to Its Existing Projects IN Southern PERU
AMERICAN LITHIUM ADDS FURTHER CONCESSIONS CLOSE TO ITS EXISTING PROJECTS
IN SOUTHERN PERU
VANCOUVER, British Columbia, June 01, 2022— American Lithium Corp. (“American Lithium” or the
Company”) (TSX-V: LI, OTCQB: LIACF, Frankfurt: 5LA1) is pleased to confirm that it has signed an
agreement to acquire additional concessions in Southern Peru . In addition, it has entered into
agreements relating to public relations and marketing activities.
Acquisition of Concessions in Southern Peru
The Company, through its Peruvian subsidiary, Macusani Yellowcake S.A.C., has entered into a mining
rights transfer agreement (the “ Transfer Agreement”) with an arms -length third-party, pursuant to
which it will acquire the rights to a series of mining concessions (the “ Concessions”) covering
approximately 14,243 hectares in Southern Peru. The Concessions are highly prospective and will
further broaden the Company’s existing asset base and operations in Peru.
In consideration for the Concessions, the Company has agreed to pay US$400,000 and to issue
2,250,000 common shares (the “Consideration Shares”) to the vendor. Completion of the transaction
contemplated by the Transfer Agreement remains subject to completion of applicable transfer
registrations in Peru and the approval of the TSX Venture Exchange. All Consideration Shares issued
to the vendor will be subject to restrictions on resale for a period of four -months-and-one-day in
accordance with applicable securities laws.
Simon Clarke, CEO of American Lithium, stated “we are very pleased to be able to add these large,
highly prospective concessions, close to the areas where we have generated some of the best
exploration results to date.”
Public Relations Update
The Company has retained the services of New York -based Vorticom Inc. (“Vorticom”) to perform
high-impact Public Relations services in the United States. Vorticom is a New York -based, award-
winning public relations firm that specializes in generating strategic media placements for its
corporate clients.
The agreement entered into with Vorticom is effective as of June 01, 2022 , (the “ Vorticom
Agreement”) and Vorticom will receive consideration of US$10,000 per month for a 12-month term.
The Company has also agreed to grant 100,000 incentive stock options (the “Options”) to Vorticom,
which have a term of 5 years and are exercisable at a price of $2.74 per common share. The Options
will vest over a period of 12 months, with 25% of such Options vesting every quarter following their
issuance, beginning three months from the date hereof.
The Vorticom Agreement is subject to the approval of the TSX Venture Exchange.
Marketing Update
American Lithium has also engaged Ptolemy Capital Limited (“Ptolemy”), trading as Crux Investor
(“Crux”), to provide content creation, distribution and dissemination services to the Company, as
defined in accordance with the policies of the TSX Venture exchange and applicable securities laws.
Pursuant to the agreement entered into with Crux , which is effective as of June 01, 2022 (the “ Crux
Agreement”), Crux will rec eive consideration of US $3,650/month, payable quarterly in advance, for
an initial 3-month term which may be extended for additional 3-month periods.
Crux, a company based in London, United Kingdom, provides content distribution via videos, podcasts,
social media and written articles. This includes dissemination and syndication across private and public
investor platforms and services. To the best of American Lithium’s knowledge, neither Ptolemy, Crux,
nor any of its principals hold any securities of American Lithium.
The Crux Agreement is subject to the approval of the TSX Venture Exchange.
About American Lithium
American Lithium, a member of the TSX Venture 50, is actively engaged in the acquisition, exploration
and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The
Company is currently focused on enabling the shift to the new energy paradigm through the continued
exploration and development of its strategically located TLC lithium claystone project in the richly
mineralized Esmeralda lithium district in Nevada, as well as continuing to advance its Falchani lithium
and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have
been through robust preliminary economic assessments, exhibit strong additional exploration
potential and are situated near significant infrastructure.
On behalf of the Board of Directors of American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
For further information, please contact:
American Lithium Corp.
Email: [email protected]
Website: www.americanlithiumcorp.com
Follow us on Facebook, Twitter and LinkedIn.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
release.
Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward -looking information and forward -looking statements (collectively
“forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking statements. Forward -looking statements in this news release
include, but are not limited to, statements regarding the planned acquisition of additional water rights and future
operations at TLC, and any other statements regarding the busin ess plans, expectations and objectives of
American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan",
"expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “ subject”,
“efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results.
Forward-looking statements are based on the current opinions and expectations of management are not, and
cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions
and expectations reflected in such forward-looking statements are reasonable based on information available at
the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide
no assurance that such opinions and expectations will prove to be correct. All forward -looking statements are
inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties
and assumptions related to: American Lithium’s ability to achieve its stated goals; risks and uncertainties relating
to the COVID -19 pandemic and the extent and manner to which measures taken by governments and their
agencies, American Lithium or others to attempt to reduce the spread of COVID-19 could affect American Lithium,
which could have a material adverse impact on many aspects of American Lithium’s businesses including but not
limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees
or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could
impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result
in the reduced availability or failures of various local administration and critical infrastructure, reduced demand
for the American Lithium’s potential products, availability of materials, global travel restric tions, and the
availability of insurance and the associated costs; the judicial appeal process in Peru, and any and all future
remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its concessions;
risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work
cooperatively with stakeholders, including but not limited to local communities and all levels of government; the
potential for delays in exploration or developm ent activities due to the COVID -19 pandemic; the interpretation
of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration,
development or mining results will not be consistent with our expectations; risks that permits will not be obtained
as planned or delays in obtaining permits; mining and development risks, including risks related to accidents,
equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or othe r
unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price
and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in
which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on
acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and
liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global
economic environment and the effects upon the global market generally, and due to the COVID -19 pandemic
measures taken to reduce the spread of COVID -19, any of which could continue to negatively affect global
financial markets, including the trading price of American Lithium’s shares and could negatively affect American
Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American
Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium
are identified in the “Risks Factors” section of American Lithium’s Annual Information Form for the financial year
ended February 28, 2021, and in recent se curities filings available at www.sedar.com. Actual events or results
may differ materially from those projected in the forward -looking statements. American Lithium undertakes no
obligation to update forward -looking statements except as required by applica ble securities laws. Investors
should not place undue reliance on forward-looking statements.
Cautionary Note Regarding Macusani Concessions
Thirty-two of the 151 concessions held by American Lithium’s subsidiary Macusani, are currently subject to
Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by
INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared
Macusani’s title to 32 of the concessions invalid due to late receipt of the annual validity payments. In November
2019, Macusani applied for injunctive relief on 32 concessions in a Court in Lima, Peru and was successful in
obtaining such an injunction on 17 of the concessions including three of the four co ncessions included in the
Macusani Uranium Project PEA. The grant of the Precautionary Measure (Medida Cautelar) has restored the title,
rights and validity of those 17 concessions to Macusani until a final decision is obtained at the last stage of the
judicial process. A Precautionary Measure application was made at the same time for the remaining 15
concessions and was ultimately granted by a Court in Lima, Peru on March 2, 2021 which has also restored the
title, rights and validity of those 15 remaining concessions to Macusani, with the result being that all 32
concessions are now protected by Precautionary Measure (Medida Cautelar) until a final decision on this matter
is obtained at the last stage of the judicial process. The favourable judge’s ruling c onfirming Macusani’s title to
all 32 concessions from November 3, 2021 represents the final stage of the current judicial process. However,
this ruling has been appealed by MINEM and INGEMMET. American Lithium has no assurance that the outcome
of these appeals will be in the Company’s favour.