LI.V · 2026-02-03 12:00:00

American Lithium Announces CEO Appointment

Management Changes

VANCOUVER, BRITISH COLUMBIA, February 03, 2026 – American Lithium Corp. (“American Lithium” or

the “Company”) (TSX -V:LI | OTCQX:AMLIF | Frankfurt:5LA1) is pleased to announce that Mr. Alex

Tsakumis has been appointed Chief Executive Officer (“ CEO”) effective January 29 , 2026. Mr. Tsakumis

was the Interim CEO of the Company sinc e September 1, 2024, and a member of the board of directors

(the “Board”) since 2021.

Mr. Tsakumis is a public markets specialist with over 30 years of experience in the mineral resource

industry, with a background in corporate governance, communications, finance, and mergers and

acquisitions. He has held senior roles at Prime Mining Corp., Alio Gold/Timmins Gold, and Orko Silver, and

maintains strong relationships within the investment banking and institutional investment community.

During his tenure as Interim CEO, the Company achieved several key milestones including completing an

oversubscribed financing, enacting stronger corporate governance, streamlining operating and corporate

costs, optimizing processing flow sheets in Peru, securing additional private water rights in Nevada, and

seeing the final resolution of its disputed Peruvian assets.

Andrew Bowering, Executive Chairman commented, “Since assuming the Interim CEO role, Alex has

demonstrated leadership and delivered meaningful progress while guiding the Company through a period

of transition.”

Additionally, effective January 27 , 2026, the Company’s Board have approved the cancellation of an

aggregate of 1,835,800 stock options granted under the Company’s Omnibus Incentive Plan, previously

announced on February 16, 2022, and February 2, 2023 (the “Cancelled Options”). The Cancelled Options

were granted to certain officers and directors of the Company at an exercise price of $3.63 and $4.85 per

common share (expiry date of February 16, 2027, and February 2, 2028, respectively).

About American Lithium

American Lithium is developing two of the world’s largest, advanced -stage lithium projects, along with

the largest undeveloped uranium project in Latin America. They include the TLC claystone lithium project

in Nevada and the Falchani hard -rock lithium pro ject in southern Peru, which also hosts a globally

significant cesium resource, as well as the Macusani uranium located in the same region. All three projects

have completed robust preliminary economic assessments, exhibit significant expansion potential a nd

enjoy strong community support.

For more information, please contact the Company at [email protected] or visit our website

at www.americanlithiumcorp.com.

On behalf of the Board of Directors of American Lithium Corp.

“Alex Tsakumis”

Chief Executive Officer

Tel: 604 428 6128

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 business 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 an d results. Forward -looking statements are based on the current

opinions and expectations of management and are not, and cannot be, a guarantee of future results or

events. Although American Lithium believes that the current opinions and expectations reflec ted 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 pro ve 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;, 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 de lays 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

restrictions, and the availability of insurance and the associated costs; 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 development activities; 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 other 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 g overnmental

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 general ly, 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 ri sks or liabilities to

American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of

American Lithium are identified in the “Risk Factors” section of American Lithium’s Management’s

Discussion and Analysis filed on January 28, 2026 and in recent securities filings available at

www.sedarplus.ca. 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 applicable securities laws. Investors should not place undue reliance on forward -

looking statements.

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