American Lithium Announces Strong Progress ON Falchani Flow Sheet Optimization and Intent to Commence Pilot Work During H2 2024
AMERICAN LITHIUM ANNOUNCES STRONG PROGRESS ON FALCHANI FLOW SHEET
OPTIMIZATION AND INTENT TO COMMENCE PILOT WORK DURING H2 2024
VANCOUVER, BRITISH COLUMBIA, June 27, 2024 – American Lithium Corp. (“ American Lithium” or the
“Company”) (TSX -V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is pleased to provide an update on the
optimization of the Falchani processing flow-sheet. This update is based on recently completed, and
ongoing, test work at Australian Nuclear Science and Technology Organization Laboratories in Sydney,
Australia (“ANSTO”) in conjunction with TECMMINE in Lima, Peru (“TECMMINE”).
The unique volcanic style of lithium mineralization at Falchani, combined with low impurity content allows
its flow -sheet to resemble more conventional mining / processing flow-sheets versus most hardrock
lithium projects where concentrates are produced and then shipped elsewhere for further refining into
higher quality products. Falchani’s flow-sheet utilizes warm sulfuric acid leaching and impurity removal
steps to produce a high purity lithium carbonate (“LC”) end product on site with purity in excess of 99.5%,
typically the threshold for battery grade LC. This helps drive the robust economics, particularly the low
operating costs , highlighted in the Company’s original and recently updated Preliminary Economic
Assessments (“PEA’s”). There is no need for additional refining steps offshore.
The Company believes it can further reduce acid consumption and reagent costs and optimize the
production of LC as well as highly economic / strategic by -products by implementing a number of
additional tried and tested hydrometallurgical processing steps into the core flow -sheet. This work has
yielded strong results, and the Company currently intends to commence piloting work for its Falchani
Project during H2, 2024.
HIGHLIGHTS FROM LATEST TEST WORK ON FALCHANI FLOW-SHEET:
• Reduction of sulfuric acid consumption by approximately 50% from 480-500 kg per tonne (“kg/t”)
(February 2024 PEA), down to 240 kg/t processed by utilizing counter-current leaching and simple
recycling of acid-containing streams coupled with leach optimization.
• Reduced acid consumption / recycling also has the implication of considerabl y reducing reagent
requirements during final waste neutralization, which positively impacts the projected operating
costs further.
• Potential to further simplify the flow-sheet by employing Solvent Extraction (“SX”):
o Initial testing with SX has demonstrated potential to separate even higher purity lithium
at an earlier stage with the rejection of key impurities;
o SX may remove several processing steps from the flow -sheet leading to reduced capex
and lower reagent consumption; and
o ANSTO continues to refine / optimize the potential use of SX in the Falchani flow-sheet.
• At $5,092/t LC, current projected operating costs for Falchani (February 2024 PEA) are already
amongst the lowest globally
o Recent improvements / optimization steps and the introduction of higher quality by -
products should materially reduce costs further.
• Continued improvement in the specification of key by-products;
o Sulfate of Potash (“KSOP”) recovery has been optimized and meets the parameters of
producers and traders of potassium (“K”)-based fertilizers;
o Approximately 40% of the K available in Falchani’s Lithium mineralization can be
recovered as high-quality KSOP;
o Concentration of Cesium Sulfate (“Cs”) has improved to approximately 20% Cs content,
the threshold at which it would become a commercially viable by-product.
• TECMMINE has recently run numerous additional full cycle tests on the existing “lithium-only”
flow-sheet and continues to produce high purity LC with purities between 99.50% – 99.87% LC.
Simon Clarke, CEO of American Lithium stated : “We are very excited about recent flow -sheet work in
which we continue to produce high purity LC exceeding battery grade thresholds in repeated full -cycle
tests giving us confidence to start piloting later this year. Recent work focusing on counter-current
leaching and SX has been extremely positive not only for producing high-quality by-products with strong
strategic and economic value but also for optimization and material cost reduction. We will continue to
refine these additions to the flow -sheet with ANSTO and TECMMINE with the goal of also introducing
them into our pilot work at the appropriate time.”
Qualified Person
Mr. Ted O’Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National
Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the
scientific and technical information contained in this news release.
About ANSTO Minerals
ANSTO Minerals is an international mining consultancy group located in Sydney, Australia, with an
experienced team of 60+ engineers, metallurgists, chemists, and scientists who have been providing
consulting services and process development services to the mining and minerals processing industries
for well over 35 years. ANSTO Minerals has world-leading expertise in uranium ore processing, rare earth
processing, zirconium/niobium/hafnium processing, base metals processing, lithium processing (brines
and hardrock), and radioactivity control and management.
About TECCMINE
TECMMINE E.I.R.L. is a Peruvian metallurgical consulting company based in Lima, Peru with mineral
processing and metallurgical testing laboratory facilities and experienced metallurgical personnel led by
Eng. Jose Malqui.
About American Lithium
American Lithium is actively engaged in the development of large -scale 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 d evelopment of its strategically located TLC lithium
project (“TLC”) in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to
advance its Falchani lithium (“Falchani”) and Macusani uranium (“Macusani”) development-stage projects
in southeastern Peru. All three projects, TLC, Falchani and Macusani have been through robust preliminary
economic assessments, exhibit strong 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.
“Simon Clarke”
CEO & Director
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 de posits; 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 risk s 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 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 also resul t 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 Management’s
Discussion and Analysis filed on May 29 , 2024, 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
INGEMMET and the Mining Council of 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, bu t 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 t he
outcome at this time.