American Lithium Announces Financial and Operating Highlights
American Lithium Announces Financial and Operating Highlights
for Third Quarter Ended November 30, 2024
VANCOUVER, BRITISH COLUMBIA , January 15, 2025 – American Lithium Corp. (“American Lithium” or
the “Company”) (TSX-V: LI | OTCQX: AMLIF | Frankfurt: 5LA1) is pleased to provide financial and operating
highlights for the third quarter ended November 30, 2024. Unless otherwise stated, all amounts presented
are in Canadian dollars.
Highlights for the Quarter:
• Letter to shareholders
o Updating shareholders of recent changes and prioritization of Company objectives for the
short and long term.
• Operations Update
o Breakdown of each project and associated work programs in Nevada and Peru.
• Board Appointment
o Strengthened independence with appointment of Rona Sellers to board of directors, a
governance professional with over 12 years experience in corporate and securities law.
Alex Tsakumis, Interim CEO of American Lithium, comments, “ With strong fundamentals in place, we
continue to focus on dil igently advancing all our projects during the challenging battery metals market
backdrop as we anticipate a recovery in the near future.”
Selected Financial Data
The following selected financial data is summarized from the Company’s condensed interim consolidated
financial statements and related notes thereto ( “Financial Statements ”) for the third quarter ended
November 30, 2024 . Copies of the Financial Statements and management’s discussion and analysis
(“MD&A”) are available at www.americanlithiumcorp.com or on SEDAR+ at www.sedarplus.ca.
Three Months Ended
November 30, 2024
Three Months Ended
November 30, 2023
Loss and comprehensive loss ($3,642,299) ($11,169,972)
Loss per share - basic and diluted ($0.02) ($0.05)
As At
November 30, 2024
As At
February 29, 2024
Cash and cash equivalents $3,492,789 $11,889,416
Total assets $161,140,352 $173,594,831
Total current liabilities $2,324,463 $3,115,623
Total liabilities $2,790,914 $4,246,386
Total shareholders’ equity $158,349,438 $169,348,445
Ted O'Connor, PGeo, Executive Vice-President of American Lithium and a qualified person as defined by
NI 43-101, has reviewed and approved the scientific and technical information contained in this news
release.
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 lithium project in Nevada,
the Falchani lithium project and the Macusani uranium project, both in southern Peru. All three projects,
have been through robust preliminary economic assessments, exhibit significant expansion potential and
enjoy strong community support.
For more information, please contact the Company at [email protected] or visit our website
at www.americanlithiumcorp.com.
Follow us on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of American Lithium Corp.
“Alex Tsakumis”
Interim CEO
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 and 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 cu rrent 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;, 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
restrictions, and the availability of insurance and the associated co sts; 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 acc eptable 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, 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 al so 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 “Risk Factors” section of American Lithium’s MD&A filed on January
14, 2025, 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.
Cautionary Note Regarding 32 Concessions
Thirty-two of the one -hundred-seventy-four concessions comprising the Falchani and Macusani Projects
are currently subject to Administrative and Judicial processes in Peru to overturn resolutions issued by the
Geological, Mining and Metallurgical Institute of Peru (“ INGEMMET”) and the Mining Council of the
Ministry of Energy and Mines of Peru (“ MINEM”) in February 2019 and July 2019, respectively, which
declared title to thirty -two concessions invalid due to late receipt of the annual validity payments. On
November 2, 2021, American Lithium was awarded a favorable ruling in regard to title to the concessions,
but on November 26, 2021, appeals of the judicial ruling were lodged by INGEMMET and MINEM. A three-
judge tribunal of Peru’s Superior Court unanimously upheld the ruling in a decision reported in November
2023. American Lithium was subsequently notified that INGEMMET and MINEM have filed petitions to the
Supreme Court of Peru to assume jurisdiction in the proceedings. Given the precedent of the original ruling
it is hoped that the Supreme Court will not assume jurisdiction; however, there is no assurance of the
outcome at this time.