American Lithium Sees 1,690 PPM Sample Grades at New Tonopah Claystone Claims (Tlc)
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AMERICAN LITHIUM SEES 1,690 PPM SAMPLE GRADES AT NEW TONOPAH
CLAYSTONE CLAIMS (TLC)
Vancouver, B.C., September 24, 2018 – American Lithium Corp. (T SXV: LI) (OTCQB:
LIACF) (Frankfurt: 5LA;) (“American Lithium” or the “Company”) is pleased to announce the
purchase of it’s second sedimentary lithium project, the Tonopah Lithium Claims, (TLC Project). Purchased
from Nevada Alaska Mining Co., (NAM), the TLC Project consists of 75 lode claims covering 1,550 acres
(625 hectares), located northeast of Tonopah Nevada, hosting high grade lithium in claystones.
During 2018, 37 different outcrop locations on the property were sampled and assayed with lithium grades
ranging from 120 parts per million (ppm) to 1,690 ppm. The average grade of the lithium in surface
outcrop is 766 ppm Li . American Lithium consultants visited the project and noted hi ghly anomalous
lithium grades in clay across the project. On the basis of NAM’ s sampling and field review by the
Company’s geologists, the claystone beds are generally shallow dipping and suggest widespread consistent
mineralization and thickness thr oughout the sampling locations. Ongoing work is being completed to
validate these assays and field relationships.
The TLC claystone target is a near surface, relatively flat laying, free digging lithium target which is easily
accessible and only 12 miles from the mining center of Tonopah Nevada. (See Figure 1 below). In addition,
it is just south of the Crescent Dunes Solar Energy Plant, the cheapest source of electricity in Nevada.
CEO, Mike Kobler states “The TLC purchase is an excellent opportunity to expand our lithium portfolio in
Nevada and came about as result of our multi-year working relationship with Nevada Alaska Mining and
our focus on lithium claystones. During my initial Proj ect visit, I was impressed by its proximity to
infrastructure, its ease of exploration and its ability to advance to resource with minimal expenditures.”
Terms of the Purchase:
Payments of USD $50,000 on signing (already paid) and USD $50,000 within 90 days;
Issue of 250,000 common shares of American Lithium;
If Company calculates a mineral resource on the Project exceedi ng 500,000 tons of Lithium
Carbonate Equivalent (LCE) in all reserve categories, the Company will issue a bonus payment of
250,000 shares to the Royalty Holder; and 250,000 shares on calculation of a cumulative 1,500,000
tons of LCE on the Project;
The claims are subject to an overriding 2.5% Gross Royalty, of which 1.25% can be purchased
within 3 years for $1 million.
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NAM samples were delivered to and assayed by ALS Minerals in Re no Nevada utilizing an ME-ICP41,
(ICP-OES) analysis package. The technical information within th is news release has been reviewed and
approved by Michael Collins, P.Geo., a consultant to the Compan y and a qualified person under National
Instrument 43-101.
About American Lithium Corp.
American Lithium is actively engaged in the acquisition, exploration and development of lithium deposits
within mining-friendly jurisdictions throughout the Americas. A merican Lithium holds options to acquire
Nevada lithium claims of over 22,000 acres (8,900 ha) in Fish L ake Valley, Esmeralda Lithium District;
The Company's Fish Lake Valley Lithium properties are located a pproximately 38 kilometres from
Albemarle's Silver Peak, the largest lithium operation in the U nited States, and adjoining the highly
recognized Global Geosciences Rhyolite Ridge Claystone Project.
For more information, please contact the Company at [email protected] or visit our website
at www.americanlithiumcorp.com.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provide r ( a s t h a t t e r m i s d e f i n e d i n p o l i c i e s o f t h e T S X V e n t u r e E x c hange) accepts
responsibility for the adequacy or accuracy of this release.
Forward‐looking statements
S t a t e m e n t s i n t h i s r e l e a s e t h a t a r e f o r w a r d ‐ l o o k i n g i n f o r m a t i o n are subject to various risks and uncertainties concerning the specific factors
disclosed here. Information provided in this release is necess arily summarized and may not contain all available material inf ormation. All such
forward‐looking information and statements are based on certain assumptions and analyses made by American Lithium management i n light of
their experience and perception of historical trends, current c onditions and expected future developments, as well as other fa ctors management
believes are appropriate in the circumstances. These statement s, however, are subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from those projected in the forward‐looking information or stat ements. Important
factors that could cause actual results to differ from these forward‐looking statements include those described under the heading “Risks Factors”
in American Lithium's most recently filed MD&A. The Company do es not intend, and expressly disclaims any obligation to, updat e or revise the
forward‐looking information contained in this news release, exc ept as required by law. Readers are cautioned not to place und ue reliance on
forward‐looking information or statements.