LI.V · 2024-08-06 12:00:00

American Lithium Appoints New CFO

Management Changes

VANCOUVER, BRITISH COLUMBIA, August 6, 2024 – American Lithium Corp. (“American Lithium” or the

“Company”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is pleased to announce the appointment of Paul

Charlish as Chief Financial Officer (CFO) effective August 1, 2024.

Mr. Charlish, most recently served as Vice President Finance and Corporate Secretary of American Lithium,

and has over 35 years of financial experience, including audit and tax in public practice, as well as financial

reporting and tax for public companies. He has extensive knowledge of financial reporting in accordance

with IFRS, risk management, international tax, ICFR/SOX and internal controls, as well as in -depth

knowledge of public equity offerings in Canada. During the course of his career, Mr. Charlish has been a

key member of successful management teams in the position of CFO and Corporate Secretary and has

also played an instrumental role in mergers, acquisitions, spinouts and divestments for public companies.

Mr. Charlish replaces Philip Gibbs who is retiring and will continue to assist the Company in an advisory

role.

Simon Clarke, CEO of American Lithium, comments, “We would like to thank Philip for his dedication and

valuable contribution to the Company . We are pleased we will continue to have the benefit of his

knowledge and experience as an advisor to the Company going forward. Additionally, we are pleased to

see Paul in his new role and confident he will do a great job as he is very familiar with our organization

having been with us the last few years.”

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.

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 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 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 July 16 , 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 sho uld 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.

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