American Lithium Files Semi-Detailed Environmental Impact Assessment Study to Start Falchani Mine Permitting Process Ahead of Schedule
American Lithium Files Semi-Detailed Environmental Impact Assessment Study
to Start Falchani Mine Permitting Process Ahead of Schedule
VANCOUVER, BRITISH COLUMBIA, November 28, 2023 – American Lithium Corp. (“American Lithium” or
the “Company ”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is pleased to announce that it has now
completed and submitted the Semi-Detailed Environmental Impact Assessment Study (“EIA-sd”) for the
Falchani Lithium Project in Southern Peru (“Falchani”) to the Ministry of Energy and Mines (“MINEM”) .
The EIA -sd commenced in July 2022 with SRK Peru leading the process and EDASI SAC providing
environmental services including detailed hydrological / hydrogeological studies at Falchani. The filing of
the EIA-sd was achieved ahead of schedule. With the filing acknowledged by MINEM, regulatory approval
for the EIA-sd is anticipated in the coming months. It is expected that the Final EIA Study, which will enable
construction and production at Falchani, will be filed and approved following the completion of the Pre-
Feasibility Study (“P FS”) and following submission and approval of detailed plans for mining and
processing.
Highlights of EIA-sd:
• Provides a framework for approval of all major phases required to finalize the development of Falchani
from mining reserve definition to completion of mine construction;
• A critical part of mine permitting in Peru and its approval should enable fast-tracking of full permits
for building the mine, processing facilities and tailings disposal;
• Provides authority to drill up to 420 drill platforms across the Falchani Project, with no additional drill
permits required;
• Enables drilling of several additional strategic holes, building on the drilling done earlier this year
under the hydrogeological permit, which is part of the EIA process; and
• Completion of the Final EIA Study will follow conversion of Measured and Indicated Resource s to
Proven and Probable Reserves as part of the PFS and will enable the move to production at Falchani.
Simon Clarke, CEO of American Lithium states , “This is another major milestone for American Lithium.
The EIA process was launched during the prior Government at a difficult time for permitting in Peru and
it is a testament to the hard work of our Peru team that we were able to advance the Falchani Project in
such a material way. I would also acknowledge the support of the new authorities in Peru in helping us
fast-track this process with the common goal of seeing lithium production in the country as quickly as
reasonably possible. With this approval, we will now be able to complete our PFS and move rapidly into
the mine permitting process.”
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 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. Pre-feasibility is advancing well TLC and Falchani.
For more information, please contact the Company at [email protected] or visit our website
at www.americanlithiumcorp.com.
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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 ability to appeal
the judicial ruling, the anticipated completion of pre-feasibility work, 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 and 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 u ncertainties, 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 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; 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 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 t he 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 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 Man agement’s
Discussion and Analysis filed on October 16 , 2023, 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.