LI.V · 2023-08-31 12:00:00

American Lithium Publishes Maiden ESG Report

Corporate Updates

VANCOUVER, BRITISH COLUMBIA, August 31, 2023 – American Lithium Corp. (“American Lithium” or the

“Company”) (TSX-V:LI | NASDAQ:AMLI | Frankfurt:5LA1) is pleased to report it has published its maiden

Environmental, Social and Governance Report (“ESG Report”) for the fiscal year March 1, 2022 to February

28, 2023.

The ESG Report was prepared using Onyen Corporation’s innovative software solution and on -line ESG

platform. The complete ESG Report is accessible at http://www.americanlithiumcorp.com/esg/ or directly

here.

Highlights of the ESG Report:

• Environmental Stewardship: Zero instances of non-compliance with environmental regulations.

• Ethics & Integrity: Zero instances of non -compliance with laws, and all Board of Directors have

received anti-corruption training.

• Human Rights and Diversity Policy: Commitments reference the Universal Declaration of Human

Rights, the United Nations Guiding Principles, and international humanitarian law.

• Social Risk Management: Mechanisms in place through which early alerts are launched on risks

identified for the continuity of operations, and to address concerns, requests, and claims.

"As American Lithium builds a reputation for being an emerging leader in the development of green

energy metals , we continuously aspire to the highest ESG operating and reporting standards ,” stated

Simon Clarke, CEO of American Lithium. “Accordingly, we are proud to announce the publication of our

maiden ESG report, along with an accompanying scorecard – all of which clearly demonstrates our

commitment to implementing best-in-class ESG policies and practices."

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 the continued

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 Hard -rock Lithium Project and

Macusani Uranium Project in southeastern Peru. All three projects, TLC, Falchani and Macusani have been

through robust preliminary economic assessments, exhibit strong expansion potential and enjoy strong

community support. Pre-feasibility work is well advanced at Falchani and has commenced at TLC.

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

at www.americanlithiumcorp.com

On behalf of the Board of Directors of American Lithium Corp.

“Simon Clarke”

CEO & Director

Tel: 604 428 6128

For Media Inquiries:

Nancy Thompson

Vorticom, Inc.

212-532-2208

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 hi storical 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 ma nagement 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 uncertainties, 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 inc luding 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; 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 adequat e 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 uncert ain global

economic environment and the 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 Lithi um’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 Management’s Discussion and Analysis filed

on May 29, 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.

Cautionary Note Regarding Macusani Concessions

Thirty-two of the 169 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 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 Measure (Medida Cautelar) has restored the title, rights a nd 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 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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