Preliminary Seismic Data FOR American Lithium’S North Playa Flv Project Shows Thickening of Potential Lithium Clay Stone Unit to the South
American Lithium Corp. Suite 1507-1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3
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PRELIMINARY SEISMIC DATA FOR AMERICAN LITHIUM’S NORTH PLAYA FLV
PROJECT SHOWS THICKENING OF POTENTIAL LITHIUM CLAY STONE UNIT
TO THE SOUTH
Vancouver, BC, October 31, 2018 – American Lithium Corp. (TSXV: LI) (OTCQB: LIACF)
(Frankfurt: 5LA;) (“American Lithium” or the “Company”) reports is has received the initial data
and interpretation from the Company’s seismic survey conducted in August and September, 2018.
Initial interpretation indicates a general shallowing upward of sediments and unroofing of prospective
Lithium clay stone layers in the west side of the north end of the Fish Lake Valley (FLV). The target
Sediment package that hosts the neighboring Rhyoli te Ridge Lithium deposit is interpreted to thicken a
shallow up on the South end of the Seismic line.
12 miles, (19km), of seismic line has been
collect over two north-south lines with
one east -west tie line. The survey was
designed to integrate downhole data from
two existing drill holes and integrate
surface mapping to develop a regional
picture of the l ithium clay bearing
sediment formation see n to the south in
Global Geo science’s Rhyolite Ridge
Lithium Borax Project.
American Lithium consultant Dr. John
Oldow comments on the preliminary
analysis, “The thickness of the FLV
assemblage rocks increases significantly
south of the northwest-trending faults that
carry older units including the Rhyolite
Ridge tuff to the surface. South of these
faults the mudstone and sandstone
thickens dramatically to over 700 feet.
The thickness of the overlying sandstone-
conglomerate unit does not appear to
increase significantly from north to
south. What we may be seeing is that the
rock exposed along the eastern flank of
the basin (western Silver Peak Range)
where the thickness of the mudstone -
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American Lithium Corp. Suite 1507-1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3
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sandstone greatly thickened to the south; the thickness increase corresponds to the area where US Borax
had high B and Li concentrations.”
CEO, Mike Kobler states “ The initial interpretation defines sufficient volume of the Rhyolite Ridge Tuff
unit in the Fish Lake Valley sedimentary basin to host a significant lithium deposit. With rec eipt of the
final interpretation we expect to be able to speed up the exploration and definition of potential lithium
mineralized zones within this target member.”
The valley’s prospectivity for lithium and boron is well known since mining began there in the 1 880s.
Surging lithium demand and rising prices, along with recent strategic metal status being declared by the US
Government and breakthroughs in lithium processing methods, have intensified investment focus onto US
domestic lithium production. Principal among the Fish Lake Valley lithium deposits under evaluation are
lithium claystones, such as the Rhyolite Ridge project undertaken by Global Geosciences Corp., which
adjoins the FLV Project, and is responsible for Global Geosciences’ $400 million market cap.
The seismic survey was conducted by Bird Seismic of Globe Arizona utilizing a Seistronix EX-6 cable
based 24 bit recording system and a United Service Alliance model AF-450 nitrogen gas accelerated weight
drop source and a data receiver interval of 20” (6m) and a source interval of 20” (6m).
The technical information within this news release has been reviewed and approved by Michael Collins,
P.Geo., a consultant to the Company 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. The Company is currently exploring and
developing two projects, the FLV and TLC Projects, in the highly prospective Esmeralda Lithium District
in Nevada. These projects, within 30 miles of each other, are close to infrastructure, 3.5 hours south of the
Tesla Gigafactory, and in the same basinal environment as Ablemarle’s Silver Peak Lithium Mine, and the
advancing deposits and resources including Global Geosciences 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.
On behalf of the Board,
American Lithium Corp.
Michael Kobler, Chief Executive Officer
Neither 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
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American Lithium Corp. Suite 1507-1030 West Georgia Street, Vancouver, British Columbia, V6E 2Y3
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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 informat ion. All such
forward-looking information and statements are based on certain assumptions and analyses made by American Lithium management in light of
their experience and perception of historical trends, current conditions and expected future developments, as well as other factors 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 American Lithium's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, upda te 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.