LI.V · 2023-04-25 12:00:00

American Lithium Reports Vehicle Accident Near Company Project in Peru

Mine Development & Operations

VANCOUVER, BRITISH COLUMBIA, April 25, 2023 – American Lithium Corp. (“American Lithium” or the

“Company”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) regrets to r eport that a single vehicle accident

involving a Company owned vehicle occurred near the Company’s project site in Southern Peru resulting

in the death of a local passenger and injury to two Company employees.

“We are very saddened by this tragic accident,” stated American Lithium CEO Simon Clarke. “Our thoughts

and prayers are with the families and their communities during this difficult time. Our primary focus is to

provide all necessary support, counselling and assistance needed by those directly impacted and also

across the wider community.”

American Lithium’s Peru-based management and staff are working with all parties involved and have

informed all relevant Peruvian authorities and the incident has been confirmed as a vehicle accident .

Focus is also being directed to the establishment of an appropriate endowment for local youth in the local

communities as a way to honor and remember the person who died in the accident, and this will be

finalized in consultation with their family and in accordance with their wishes.

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 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-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 suppo rt. Pre-feasibility work

has now commenced at TLC and Falchani.

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.

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

“Simon Clarke”

CEO & Director

Tel: 604 428 6128

Neither the TSX Venture Exchange no r 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, 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 subject to a variety

of assumptions, risks and uncertainties, including risks, uncertainties and assumpt ions 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 to 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 ti me, 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 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 (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 ob taining 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 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 A merican 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 Management’s Discussion and Analysis filed on June

28, 2022, 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 Counci l 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 t itle, 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 gr anted 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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