LI.V · 2022-02-24 12:00:00

American Lithium Named to TSX Venture Exchange “Venture 50”

Corporate Updates

Vancouver, February 24, 2022– American Lithium Corp. (“American Lithium” or the “Company”) (TSX-

V: LI, OTCQB: LIACF, Frankfurt: 5LA1) is pleased to announce that it has been named to the 202 2 TSX

Venture 50, an annual ranking of top performing listed companies on the TSX Venture Exchange.

The 202 2 TSX Venture 50 is an annual ranking from five industry sectors: Clean Technology and Li fe

Sciences, Diversified Industries, Energy, Mining, and Technology. The selection is based on year-over-year

performance across three equally weighted criteria: market capitalization growth, share price

appreciation and trading volumes for the year ended December 31, 2021.

American Lithium Interview with CEO Simon Clarke

“We are very pleased to be to be recognized once again by the TSX Venture as a “Top 50” Company in

consecutive years,” stated Simon Clarke, CEO of American Lithium. “American Lithium is quickly emerging

as one of the largest developers of energy metals within the Americas. This is largely thanks to ongoing

progress at the Company’s development-stage TLC lithium project in Nevada , as well as last year’s

strategic acquisition of Plateau Energy Metals and its economically robust lithium and uranium projects

in southeastern Peru. Ware anticipating reaching several major milestones this year. We look forward to

keeping shareholders appraised of our progress as we build significant additional value at our

geographically and geologically diversified projects. In the meantime, we would like to thank all of our

shareholders for their continued support.”

About American Lithium

American Lithium, a member of the TSX Venture 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 located 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.

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 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 adequ acy 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 o f 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, 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 forward -looking statements are inherently uncertain and subjec t to a variety of assumptions, risks and

uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its

stated goals; risks and uncertainties relating to the COVID -19 pandemic and the extent and manner t o 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 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 judicial appeal process in Peru, 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 government;

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 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 (incl uding 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 an d 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 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 materi ally 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 state ments.

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 resolutio ns 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 Court 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 M easure (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 rem aining 15

concessions and was ultimately granted 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. The favourable judge’s ruling confirming title to all 32 concessions from November

3, 2021 represents the final stage of the current judicial process. However, this ruling has recently been appealed by

MINEM and INGEMMET. American Lithium has no assurance that the outcome of these appeals will be in the

Company’s favour.

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