American Lithium to Extend Warrants

American Lithium Corp. Suite 1507, 1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3

americanlithiumcorp.com

TSXv

OTCQB

FRANKFURT

│ Li

│ LiACF

│ 5LA

AMERICAN LITHIUM TO EXTEND WARRANTS

Vancouver, British Columbia - January 7, 2020 – American Lithium Corp. (TSXV: LI) (the

“Company”) announces that it will amend the terms (the “Amendment”) of an aggregate of 21,411,430

outstanding common share purchase warrants (collectively, the “Warrants”) previously issued by the

Company. The Warrants are currently exercisable to acquire common shares of the Company at a price of

$0.375 until February 1, 2020. Under the Amendment, the term of the Warrants will be extended by an

additional twenty-four months such that they will be now exercisable until February 1, 2022.

Completion of the Amendment remains subject to the approval of the TSX Venture Exchange, and will not

take effect until such approval has been obtained.

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. The Company is currently exploring and

developing the TLC Project located in the highly prospective Esmeralda Lithium District in Nevada. TLC

is close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as

Albemarle’s Silver Peak Lithium Mine, and several advancing deposits and resources including Ioneer

Ltd.'s (formerly Global Geoscience) Rhyolite Ridge and Cypress Development Corp’s Clayton Valley

Project.

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

at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.

On behalf of the Board,

American Lithium Corp.

Michael Kobler, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts

responsibility for the adequacy or accuracy of this release.

Forward-looking statements

Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors

disclosed here. Information provided in this release is necessarily summarized and may not contain all available material information. All such

forward-looking information and statements are based on certain assumptions and analyses made by the Company’s management in light of their

experience and perception of historical trends, current conditions and expected future developments, as well as otherfactors management believes

are appropriate in the circumstances. These statements, 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 statements. Important factors that

could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the

Company’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-

looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-

looking information or statements.