American Lithium Commences Environmental Assessment Process with BLM, Updates Plan of Operations and Provides Update on Work Programs at TLC
American Lithium Commences Environmental Assessment Process with BLM,
Updates Plan of Operations and Provides Update on Work Programs at TLC
VANCOUVER, BRITISH COLUMBIA, August 19, 2021 – American Lithium Corp. (“American Lithium” or the
“Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce that the Bureau of Land
Management (“BLM”) is currently reviewing an Administrative Draft Environmental Assessment (“EA”) for
American Lithium’s proposed Plan of Operations (“PO”) for its Tonopah Lithium Claims Project (“TLC”).
This PO was filed in January 2021 and accepted as complete by the BLM in June 2021 (see press release
dated June 17, 2021).
The PO has been updated as part of the EA process to reflect latest changes introduced through the EA
and now proposes drilling from up to 110 drill sites as well as excavating five test pits to acquire samples
for metallurgical testing. In addition, with the EA co mbining all previously planned phases of project
exploration and pre -feasibility work into one phase of development , the PO has also been updated
accordingly. While this will result in all required environmental bonding being paid upfront on approval,
it will stream-line process, maximize efficiencies and help fast-track resulting work programs.
With the EA process now underway, and based on its most recent meetings, the Company advises that, it
currently anticipates final approval of the PO to occur by late Fall 2021 with the commencement of the
next phase of development at TLC starting shortly thereafter.
In the interim, American Lithium will continue to focus on finalizing its metallurgical test work. As
previously reported, the Company has three viable recovery options and will focus on optimizing these
before s electing the best process , based on economic and environmental criteria, to enable the
completion of a robust preliminary economic assessment on TLC (“PEA”). In parallel, and as also previously
reported, pre-concentration test work , designed to increase the lithium head grade prior to leaching,
continues using different gravimetric routes and commercially available equipment. T his work is also
integral to the PEA as it has the potential to materially impact the economics of the TLC Project.
In addition, over the next several weeks, the Company plans to utilize existing permitted disturbance areas
to twin several previously explored mineralized drill holes . These holes will be drilled deep er than the
original completion depths to test for further zones of lithium mineralization and the p resence of other
minerals, to determine the depth and nature of volcanic basement rocks and to provide additional sample
material for on -going and future metallurgical testing. This drilling will also enable the Company to
accurately determine the depth / location of the water table. While the TLC deposit is above the water
table and water has never been encountered in the drilling programs that define the current resource ,
accurately defining the water table is a key element for future permitting.
Dr. Laurence Stefan, COO of American Lithium, stated “commencing the EA review process is an important
milestone for American Lithium as we look to finalize approval of the updated Plan of Operations, which
will, in turn, enable the next phase of development at TLC. Updating the PO will also help us streamline
and fast-track operations following approval. In the interim, our efforts to optimize flowsheet design,
together with additional drilling and related field work, will position us to complete a robust PEA on TLC
which, combined with the next phase of development following PO approval, will then enable the
Company to move as efficiently as possible into the feasibility phase of TLC development.”
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 geological information contained in this news release.
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 develop ment 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 information and forward -looking statements (collectively
“forward-looking statements”) within the meaning of ap plicable 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 Projects (the “Projects”), exploration drilling plans, in-fill and expansion drilling plans, results of exploration
and 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, referring 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 f orward-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 anticipate d 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 extent and manner to which measures taken by gov ernments 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 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; risks related to the certainty of title to the properties of American Lithium, including the status
of the “Precautionary 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; r isks 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 government; the potential for delays in explorati on 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 mining results will not be
consistent with ou r 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 Amer ican 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 as sociated 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 January 19, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion
and Analysis filed on January 29, 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 Conc essions 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 32 of the
concessions invalid due to late receipt of the annual validity payments. In November 2019, Macusani applied for
injunctive relief on 32 concessions in a Cour t in Lima, Peru and was successful in obtaining such an injunction on 17
of the concessions including three of the four concessions included in the Macusani Uranium Project PEA. The grant
of the Precautionary Measure (Medida Cautelar) has restored the title, rights and validity of those 17 concessions to
Macusani until a final decision is obtained at the last stage of the judicial process. A Precautionary Measure
application was made at the same time for the remaining 15 concessions and was ultimately grant ed by a Court in
Lima, Peru on March 2, 2021 which has also restored the title, rights and validity of those 15 remaining concessions
to Macusani, with the result being that all 32 concessions are now protected by Precautionary Measure (Medida
Cautelar) until a final decision on this matter is obtained at the last stage of the judicial process. A final date for the
last stage of the judicial process has not yet been set. If American Lithium’s subsidiary Macusani does not obtain a
successful resolution of the Processes, its title to the concessions could be revoked.