American Lithium Financial & Operating Results Delivers Robust Economics & Significant Expansion Potential

• American Lithium reported robust economics for its TLC and Falchani lithium projects, with a combined after-tax NPV of approximately US$8.37 billion.
• The company significantly increased its lithium resources at Falchani and made a new lithium discovery 6km west of the project.
• American Lithium's Macusani uranium project is well-positioned to unlock value for the company and its shareholders as uranium prices strengthen.
• The company maintains a strong financial position with cash and marketable securities of approximately $18.6 million and no debt.
• American Lithium is actively advancing its projects through pre-feasibility and permitting stages, setting the stage for future growth and development.

American Lithium Corp. is a mining company focused on the development of large-scale lithium projects in mining-friendly jurisdictions throughout the Americas. The company's key projects include the TLC lithium project in Nevada, and the Falchani lithium and Macusani uranium projects in southeastern Peru. All three projects have demonstrated strong economic potential and significant expansion opportunities through robust preliminary economic assessments.

Operational Highlights

TLC Lithium Project, Nevada

American Lithium filed the maiden PEA for its TLC project, showcasing impressive economics with an after-tax NPV8 of US$3.26 billion and an IRR of 27.5%. The project boasts the second largest M&I resource and the second highest flow-sheet head-grade among Nevada claystone projects. The company continues to refine the TLC flow sheet, driving higher lithium purity and optimizing pre-concentration, further enhancing the project's economic potential.

Falchani Lithium Project, Peru

At Falchani, American Lithium intersected the highest grades of lithium and cesium to date, significantly extending the lithium mineralization. The company announced a substantial 476% increase in M&I resources, bringing the total to 5.53 million tonnes of LCE. The updated PEA for Falchani demonstrated a tripling of the after-tax NPV8% to US$5.11 billion, with a low operating cost of $5,093/t LCE. Additionally, a new lithium discovery was made 6km west of Falchani, with assays averaging 1,560 ppm Li over 222 m of continuous mineralization.

Corporate Developments

Peru Concession Dispute

American Lithium received a unanimous ruling from the Superior Court in Peru, confirming title to 32 disputed concessions. Although INGEMMET & MINEM have petitioned the Supreme Court to reverse the decision, the company believes there are no grounds for the Supreme Court to take jurisdiction. The disputed concessions represent approximately 18% of the company's total concessions, and their title remains fully protected by injunction.

Strategic Investment and ESG

The company made a strategic investment of $5.36 million into Surge Battery Metals Inc. and published its maiden ESG report covering year-end 2023, demonstrating its commitment to sustainability and responsible mining practices.

Financial Position

As of February 29, 2024, American Lithium had cash and cash equivalents of $11.9 million and marketable securities worth $6.7 million, with no debt or material royalties. This strong financial position allows the company to continue advancing its projects and pursuing growth opportunities.

Uranium Potential

With uranium prices strengthening, American Lithium is well-positioned to unlock value from its large-scale Macusani uranium project in Peru. The company believes that the improving uranium market conditions, coupled with the project's potential, could provide significant upside for shareholders.

Conclusion

American Lithium has delivered impressive results across its lithium and uranium projects, setting the stage for future growth and value creation. The company's strong financial position, combined with the robust economics and significant expansion potential of its projects, make it an attractive investment opportunity in the rapidly growing lithium and uranium markets.

As the company continues to advance its projects through pre-feasibility and permitting stages, investors can expect further milestones and catalysts that could drive shareholder value. With a focus on responsible mining practices and a commitment to sustainability, American Lithium is well-positioned to become a leading player in the lithium and uranium industries.

Investors looking for exposure to the growing demand for clean energy materials should consider American Lithium as a compelling investment opportunity. The company's diverse portfolio of high-quality projects, strong management team, and commitment to sustainable development make it an attractive choice for investors seeking long-term growth potential in the lithium and uranium sectors.