American Lithium Corp. (“American Lithium” or the “Company”)
(TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce
that a delegation of the Company’s management, led by CEO Simon
Clarke and including Michael Kobler, an original founder and
current GM of US Operations and Ulises Solis, GM of Peru
Operations, had the honour of a private audience yesterday with
President Pedro Castillo, the recently-elected President of Peru.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1ee3edcc-7f59-49a1-ba4e-295f602a112d
The purpose of the meeting during the 76th
session of the United Nations General Assembly summit in New York
was to discuss Peru’s ongoing commitment to its mining sector and
its emergence as a potential Latin American leader in the supply of
battery / clean energy metals for a greener planet.
During the United Nations’ conference, over 100
global leaders are meeting to discuss the world’s most pressing
geopolitical issues, including the heightened urgency to advance
sustainable energy initiatives along an expedited timeline.
Following the meeting with President Castillo,
Mr. Clarke reported having a highly constructive initial dialogue
with a focus on American Lithium’s future plans to sustainably
develop world-class lithium and uranium assets in Peru.
President Pedro Castillo commented, “it was a
pleasure to meet the team from American Lithium and our discussions
to date have been very positive. As I have commented in recent
times, we remain committed to the economy of Peru in general and,
in particular, the mining sector with no plans for nationalization
or expropriation. We are highly supportive of the work that
American Lithium is doing and believe that Peru is very well
positioned to become a global leader in the supply of metals for
the new energy paradigm. We also welcome foreign investment into
Peru with clear rules that protect the people, and the environment
and which promotes the economic development of the region and the
country.”
Mr. Clarke commented, “On behalf of our
shareholders, I would like to thank President Castillo for taking
the time to meet with me and my colleagues for what proved to be a
very enjoyable and encouraging discussion. Clearly, President
Castillo is deeply committed to the development of Peru including
the mining sector and in seeing Peru become a world leader in the
timely innovation of green energy solutions. To this end, American
Lithium is similarly committed to playing a meaningful role in the
realization of this inspiring and economically-empowering mandate.
Specifically, we will be launching the next phase of drilling and
development at both the Falchani Project and the Macusani Project
as soon as practical.”
About American
LithiumAmerican Lithium, a member of the TSX 50, is
actively engaged in the acquisition, exploration and development of
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 exploration
and 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 projects in southeastern Peru. Both
Falchani and Macusani have been through preliminary economic
assessments, exhibit strong additional exploration potential and
are situated near significant infrastructure.
The TSX Venture 50 is a ranking of the top
performers in each of 5 industry sectors in the TSX Venture
Exchange over the last year.
For more information, please contact the Company
at info@americanlithiumcorp.com or visit our website
at www.americanlithiumcorp.com for project update videos and
related background information.
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On behalf of the Board of Directors of
American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
For further information, please contact:
American Lithium Corp. |
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Email: info@americanlithiumcorp.com |
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Website: www.americanlithiumcorp.com |
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Neither TSX Venture Exchange nor 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 InformationThis 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 plans, objectives and
advancement of the TLC, Falchani and Macusani (the “Projects”),
exploration drilling plans, in-fill and expansion drilling plans,
results of exploration and development plans, expansion of
resources and testing of new deposits, environmental and social
community permitting, 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 assumptions
related to: American Lithium’s ability to achieve its stated goals,
including the anticipated benefits of the acquisition of Plateau
Energy Metals Inc. (“Plateau”); the estimated costs associated with
the advancement of the Projects; 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 time, 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; risks
related to the certainty of title to the properties of American
Lithium, including the status of the “Precautionary Measures” filed
by American Lithium’s subsidiary Macusani Yellowcake S.A.C.
(“Macusani”), the outcome of the administrative process, the
judicial process, and any and all future remedies pursued by
American Lithium and its subsidiary Macusani to resolve the title
for 32 of its concessions; risks regarding the ongoing Ontario
Securities Commission regulatory proceedings; 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 obtaining 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 American 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 “Risks and Uncertainties” section of Plateau’s Management’s
Discussion and Analysis filed on June 25, 2021, in the “Risk
Factors” section of American Lithium’s Management’s Discussion and
Analysis filed on June 25, 2021, 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
ConcessionsThirty-two of the 151 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
Council of MINEM in February 2019 and July 2019, respectively,
which declared Macusani’s title to the 32 of the concessions
invalid due to late receipt of the annual validity payment.
Macusani successfully applied for injunctive relief on 32
concessions in a Court in Lima, Peru, and the grant of the
Precautionary Measures (Medida Cautelar) has restored the title,
rights and validity of those 32 concessions to Macusani until a
final decision is obtained in at the last stage of the judicial
process. If American Lithium’s subsidiary Macusani does not obtain
a successful resolution of Processes, Macusani’s title to the
concessions could be revoked.
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