Peruvian court ruling confirms company title to 32 contested concessions



VANCOUVER, British Columbia, November 02, 2021 (GLOBE NEWSWIRE) – American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V: LI | OTCQB: LIACF | Frankfurt: 5LA1) has been informed that the court decision relating to the 32 contested concessions on the Falchani and Macusani projects in Peru has been returned in favor of Macusani Yellowcake SAC, the Peruvian subsidiary of the Company. The decision restores full ownership of these concessions. The court president’s decision was announced to the SALA 6 court and released digitally on the afternoon of November 2, 2021 (see link to the Spanish decision: https: //cdn-ceo-ca.s3.amazonaws. com / 1go377l-10759_sentencia.pdf).

A Bon American Lithium
American Lithium, a member of TSX 50, is actively engaged in the acquisition, exploration and development of lithium projects in mining-friendly jurisdictions across the Americas. The Company is currently focused on shifting to the new energy paradigm through continued exploration and development of its strategically located TLC lithium clay project in the richly mineralized lithium district of Esmeralda, Nevada, as well as continue to advance its development of Falchani lithium and Macusani uranium. projects in southeastern Peru. Falchani and Macusani have undergone preliminary economic assessments, have strong potential for further exploration and are located close to important infrastructure.

The TSX Venture 50 is a ranking of the top performers in each of the 5 industry sectors of the TSX Venture Exchange over the past year.

For more information, please contact the company at [email protected] or visit our website at for project update videos and related general information.

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On behalf of the Board of Directors of American Lithium Corp.

“Simon Clarke”

CEO and director

Phone. : 604 428 6128

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Neither the 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.

Caution regarding forward-looking information
This press release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the ability of INGEMMET or MINEM to appeal the court ruling, and any other statement regarding business plans, expectations and the goals of American Lithium. Forward-looking statements are frequently identified by words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “indicate”, “Anticipate”, “target”, “objective”, “potential”, “object”, “efforts”, “option” and similar words, or their negative connotations, referring to future events and results. Forward-looking statements are based on current opinions and management’s expectations are not, and cannot be, guarantees of future results or events. Although American Lithium believes that the current opinions and expectations reflected in these forward-looking statements are reasonable based on the information available at the time, no undue reliance should be placed on forward-looking statements, as American Lithium cannot guarantee that these 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 relating to: American Lithium’s ability to meet its stated objectives; the risks and uncertainties associated with the COVID-19 pandemic and the extent and manner in which actions taken by governments and their agencies, American Lithium or others in an attempt to reduce the spread of COVID-19 could affect American Lithium , which could have a material adverse effect on many aspects of American Lithium’s business, including, but not limited to: the ability to access mining properties for an indefinite period, the health of employees or consultants resulting in delays or reduced capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its operational needs, may result in reduced availability or failures of various local governments and critical infrastructure, reduced demand for potential American Lithium products, availability of materials, restr global travel restrictions and the availability of insurance and associated costs; the judicial appeal process in Peru and all future remedies pursued by American Lithium and its Macusani subsidiary to settle the title of 32 of its concessions; risks associated with ongoing regulatory proceedings of the Ontario Securities Commission; the continued 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; interpretation of drilling results, geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not meet our expectations; risks of permits not being obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment failures, labor disputes (including work stoppages, strikes and loss of personnel) or other hardship or unplanned interruptions to exploration and development; risks associated with fluctuations in commodity prices and exchange rates; risks associated with foreign operations; the cyclical nature of the industry in which American Lithium operates; risks associated with the inability to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining government approvals; risks associated with environmental regulations and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and effects on the global market in general, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, which could continue to negatively affect financial markets worldwide, including the share price of American Lithium and could adversely affect American Lithium’s ability to raise capital and could also result in additional and unknown risks or liabilities for American Lithium. Other risks and uncertainties relating to the outlook, properties and business strategy of American Lithium are identified in the “Risks and uncertainties” section of Plateau’s management report filed on January 19, 2021, in the “Risk factors” section. Of American Lithium’s MD&A. and Analysis filed on January 29, 2021, and in recent securities filings available at Actual events or results may differ materially from those projected in forward-looking statements. American Lithium assumes no obligation to update any forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Macusani Concessions Warning Thirty-two of the 151 concessions held by American Lithium’s subsidiary, Macusani, are currently subject to administrative and legal proceedings (together, the “Proceedings”) in Peru to overturn resolutions issued by INGEMMET and the MINEM Mining Council in February 2019 and July 2019, respectively, which declared Macusani’s title invalid on 32 of the concessions due to late receipt of annual validity payments. In November 2019, Macusani filed an injunction on 32 concessions in a court in Lima, Peru, and was successful in obtaining such an injunction on 17 of the concessions, including three of the four concessions included in the Macusani Uranium Project PEA. . The granting of the precautionary measure (Medida Cautelar) restored the title, rights and validity of these 17 concessions to Macusani until a final decision was obtained at the last stage of the legal process. A request for a provisional measure was filed at the same time for the remaining 15 concessions and was finally granted by a court in Lima, Peru, on March 2, 2021, which also restored the title, rights and validity of these 15. remaining concessions in Macusani, with the result being that all 32 concessions are now protected by a precautionary measure (Medida Cautelar) until a final decision on this matter is obtained at the last stage of the legal process. The favorable decision of the judge confirming the title of all 32 concessions published on November 2, 2021, represents the last step in the ongoing legal process. However, this decision may be appealed against to INGEMMET or MINEM within five working days. American Lithium has no assurance that an appeal is, or is not, future, nor the potential outcome of such appeals.



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