American Lithium Expands TLC Project to 4,000 Acres and Demonstrates Mineral Processing Recovery to 90% in Ten Minutes
American Lithium Corp.
Suite 1507-1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3
americanlithiumcorp.com
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American Lithium Expands TLC Project to 4,000 Acres and
Demonstrates Mineral Processing Recovery to 90% in Ten Minutes
VANCOUVER, British Columbia, July 11, 2019 (GLOBE NEWSWIRE) — American Lithium Corp. (“ALC” or
“the Company”) (LI.V) (LIACF) (5LA1.F) a leading acquisition, exploration and development operator is
extremely pleased to provide an update on its promising TLC sedimentary lithium project located just 12
kilometers from the regional mining centre of Tonopah, Nevada.
Highlights
Drilling
Core samples from 5 drill holes confirm stratigraphic and extension of mineralized lithium horizon over 6
square kilometers. An additional 5 reverse circulation drill holes have been permitted and the Company is
waiting for drill rig availability to drill these holes. Assay results for the core holes are pending.
Processing
2nd phase leach test ing returned exceptional results indicating a 90% Lithium extraction in 10 minutes
with a fifty percent (50%) reduction in reagent consumption. The results confirmed continuous process
capability for lithium recovery at scale. The Company therefor e believes processing scalability will not
limit the scope or size of a proposed mining operation.
Permitting
The Company has strategically expand ed its acreage position to 1650 ha or 4,000 acres in 200 lode
claims.
Resource Study
Company has engaged renowned sediment hosted lithium expert, Jerry Aiken, to produce a maiden
lithium resource estimate.
Preliminary mineralogy indicates dominance of lepidolite. Mass balance suggests significant free lithium
in addition to the lithium present in the lepidolite.
Milestones
American Lithium officially moves from exploration into resource delineation drilling.
Company establishes geological and permitting field office and sample processing facility in Tonopah
Nevada.
Counter-current leach tests initiated. Focus on reagent consumption, temperature and resulting economics.
Commencement of environmental studies towards a Plan of Operations. Complet es all required spring
season biological surveys.
Engages Nevada Water Resource Professional to validate water availability as preliminary investigations
indicate multiple sources with adequate capacity.
Mike Kobler, CEO of American Lithium notes, “With 23 drill holes over a six km square area we haven’t yet
fully identified the actual boundaries of the thick beds of TLC lithium claystone mineralization throughout our
holdings.”
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American Lithium Corp.
Suite 1507-1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3
americanlithiumcorp.com
Two core drill holes were drilled to more accurately define stratigraphy and confirm assays from RC drill holes;
TLC-0901 and 0 917. Three additional holes were drilled to the north of the known mineralized areas. While
assays are pending on these drill holes , the stratigraphy on the three step out locations is consistent with lithium
enriched targets to the south. An updated map indicating the locations of the 5-hole Phase II drill program is
available at:
https://www.americanlithiumcorp.com/projects/tlc-nevada/
American Lithium has engaged Jerry A iken to author a 43 -101 compliant lithium resource for the TLC project.
The work has commenced, and the resource model is expected to include the results from the five most recent
drill holes and potentially an additional five drill targets that are permitted but not yet completed. Mr. Aiken is a
registered professional geologist with 45 years of experience in the mi ning industry, including the last 25 years
focused on industrial minerals. During his career, he spent 29 years with Rio Tinto Exploration and US Borax,
and in addition to his extensive knowledge of Nevada and the Western US, his lithium and borates experi ence
includes significant operations in Mexico, Canada, South America and Europe.
Operationally, environmental studies are in early stages but have not identified any unanticipated or noteworthy
issues to-date.
Mr. Kobler continues, “Our Company is committed to producing a lithium resource and rapidly developing the
TLC project. With continued strong investment in development stage lithium project s worldwide we see great
potential for the development of our domestic TLC resource which clearly benefits from excellent infrastructural
and environmental conditions. I’m really pleased to help develop what is increasingly becoming a made -in-the-
USA success story.”
In related news, the Company announces it will complete a non -brokered private placement financing for
proceeds of approximately $1,000,000. The private placement will consist of up to 7,000,000 units of the
Company at a price of $0. 15 per unit. Each unit will be composed of on e common share and one common share
purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0. 25 per share
for a period of 24 months from the closing date.
The Company may pay a finder’s fee in connection with the issue and sale of some or all of the units issued under
the private placement. The securities issued in connection with the private placement will be subject to a four -
month hold period under applicable exchange policies and securities laws. Insiders of the Company will be
purchasing a portion of the private placement.
QA/QC Statement
Drilling was conducted by Harris Exploration Drilling and Associates Inc., of Fallon, Nevada utilizing a core drill
rig using HQ sized core recovery . Drill core is transported to the Compan y’s data logging facility in nearby
Tonopah where is logged, with select sections measured for density by immersion method and then split with an
8” rock saw with half being sent for metallurgical work, one quarter sent for assay a nd one quarter reserved for
record. Sampling was conducted over 5-foot (1.52m) intervals. Sample custody was maintained by the company’s
consultants throughout the sampling and logging process. The company has a rigorous QA/QC program utilizing
blanks, duplicates and a high and a low -grade lithium standard material. Sample duplicates, standard and blank
material are inserted into the sample stream on a 5% basis for each category with both a high-and low -grade
lithium standard used. Samples were sent to American Assay Laboratories in Sparks Nevada for analysis utilizing
the ICP-MS analysis protocol. Selected check assays samples were sent to the Bureau Veritas in Reno/Vancouver
for analysis by ICP-MS.
About the TLC Discovery
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American Lithium Corp.
Suite 1507-1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3
americanlithiumcorp.com
The TLC sedimentary lithium disco very is an exploration and development project located 12km northwest of
Tonopah, Nevada and easily accessible by paved highway. The fieldwork to -date indicates a near surface,
relatively flat-lying, free digging lithium sedimentary region that offers the potential of hosting a wide area of
high-grade lithium mineralization. With drilling ongoing, the company expects to deliver a maiden resource and
early stage economic study in 2019. Just south of the Crescent Dunes Solar Energy Plant, the project is favor ably
located for future production given the immediate access to some of the cheapest electricity in Nevada.
About American Lithium Corp. (LI.V) (LIACF) (5LA1.F)
American Lithium is actively engaged in the acquisition, exploration and development of lithi um deposits within
mining-friendly jurisdictions throughout the Americas. The Company is currently exploring and developing its
recent TLC discovery and FLV Project located in the highly prospective Esmeralda Lithium District in Nevada.
These projects, wit hin 48 km (30 miles) of each other, are close to infrastructure, 3.5 hours south of the Tesla
Gigafactory, and similar mineralization characteristics as Albemarle’s Silver Peak Lithium Mine, and the
advancing deposits and resources including Ioneer Inc.’s (formerly Global Geosciences) Rhyolite Ridge and
Cypress Development Corp’s Clayton Valley Project.
The technical information within this news release has been reviewed and approved by Michael Collins, P.Geo., a
consultant to the Company and a qualified person under National Instrument 43-101.
American Lithium is a Venture 50 company. 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,
American Lithium Corp.
Michael Kobler,
Chief Executive Officer
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 release.
Forward-Looking Statements
Statements in this release that are forward -looking information are subject to various risks and uncertainties
concerning the specific factors disclosed here. Information provided in this release is necessarily summarized and
may not contain all available material information. All such forward -looking information and statements are
based on certain assumptions and analyses made by American Lithium management considering their experience
and perception of historic al trends, current conditions and expected future developments, as well as other factors
management believes are appropriate in the circumstances. These statements, however, are subject to a variety of
risks and uncertainties and other factors that could c ause actual events or results to differ materially from those
projected in the forward -looking information or statements. Important factors that could cause actual results to
differ from these forward -looking statements include those described under the he ading “Risks Factors” in
American Lithium’s most recently filed MD&A. The Company does not intend, and expressly disclaims any
obligation to, update or revise the forward -looking information contained in this news release, except as required
by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.
CONTACT
Tyler Ross, VP Investor Relations
+1 (604) 428-6128 Ext. 205
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American Lithium Corp.
Suite 1507-1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3
americanlithiumcorp.com