American Lithium CEO Meets In-Person with the President of Peru Announces next phase of drilling / development at Falchani and Macusani

American Lithium CEO Meets In-Person with the President of Peru

Announces next phase of drilling / development at Falchani and Macusani

VANCOUVER, BRITISH COLUMBIA, September 22, 2021 – American Lithium Corp. (“American Lithium” or

the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce that a delegation of

the Company’s management, led by CEO Simon Clarke and including Michael Kobler, an original founder

and current GM of US Operations and Ulises Solis, GM of Peru Operations , had the honour of a private

audience yesterday with President Pedro Castillo, the recently-elected President of Peru.

Figure 1: From left to right: Simon Clarke, President Pedro Castillo, Michael Kobler, and Ulises Solis

The purpose of the meeting during the 76 th session of the United Nations General Assembly summit in

New York was to discuss Peru’s ongoing commitment to its mining sector and its emergence as a potential

Latin American leader in the supply of battery / clean energy metals for a greener planet.

During the United Nations’ conference, over 100 global leaders are meeting to discu ss the world’s most

pressing geopolitical issues, including the heightened urgency to advance sustainable energy initiatives

along an expedited timeline.

Following the meeting with President Castillo, Mr. Clarke reported having a highly constructive initial

dialogue with a focus on American Lithium’s future plans to sustainably develop world-class lithium and

uranium assets in Peru.

President Pedro Castillo commented, “it was a pleasure to meet the team from American Lithium and our

discussions to date have been very positive. As I have commented in recent times, we remain committed

to the economy of Peru in general and, in particular, the mining sector with no plans for nationalization

or expropriation. We are hi ghly supportive of the work that American Lithium is doing and believe that

Peru is very well positioned to become a global leader in the supply of metals for the new energy

paradigm. We also welcome foreign investment into Peru with clear rules that prote ct the people, and

the environment and which promotes the economic development of the region and the country.”

Mr. Clarke commented, “On behalf of our shareholders, I would like to thank President Castillo for taking

the time to meet with me and my colleague s for what proved to be a very enjoyable and encouraging

discussion. Clearly, President Castillo is deeply committed to the development of Peru including the

mining sector and in seeing Peru become a world leader in the timely innovation of green energy

solutions. To this end, American Lithium is similarly committed to playing a meaningful role in the

realization of this inspiring and economically-empowering mandate. Specifically, we will be launching the

next phase of drilling and development at both the Falchani Project and the Macusani Project as soon as

practical.”

About American Lithium

American Lithium , a member of the TSX 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 loc ated 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 preliminary economic assessments, exhibit strong additional exploration potential and are

situated near significant infrastructure.

The TSX Venture 50 is a ranking of the top performers in each of 5 industry sectors in the TSX Venture

Exchange over the last year.

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

at www.americanlithiumcorp.com for project update videos and related background information.

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

For further information, please contact:

American Lithium Corp.

Email: [email protected]

Website: www.americanlithiumcorp.com

Neither 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 infor mation 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 plans, objectives and advancement of the TLC, Falchani and

Macusani (the “Projects”), exploration drilling plans, in -fill and expansion drilling plans, results of exploration an d

development plans, expansion of resources and testing of new deposits, environmental and social community

permitting, and any other 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, refer ring 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, including the anticipated benefits of the acquisition of Plateau Energy Metals Inc.

(“Plateau”); the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to

the COVID-19 pandemic and the exte nt 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 tur n 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; risks related to the certainty of title to the properties of American Lithium, including the status

of the “Precau tionary Measures” filed by American Lithium’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”),

the outcome of the administrative process, the judicial process, 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 gover nment; the potential for delays in exploration or

development 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 m ining 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 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 and Uncertainties” section of Plateau’s Management’s Discussion

and Analysis filed on June 25, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion

and Analysis filed on June 25, 2021, and in recent securities 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 applicable 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

the 32 of the concessions invalid due to late receipt of the annual validity payment. Macusani successfully applied

for injunctive relief on 32 concessions in a Court in Lima, Peru, and the grant of the Precautionary Measures (Medida

Cautelar) has restored the title, rights and validity of those 32 concessions to Macusani until a final decision is

obtained in at the last stage of the judicial process. If American Lithium’s sub sidiary Macusani does not obtain a

successful resolution of Processes, Macusani’s title to the concessions could be revoked.