Mr. Simon Clarke reports

AMERICAN LITHIUM CONTINUES TO REFINE TLC PEA FLOW-SHEET

American Lithium Corp. has released results of continuing process work on TLC claystones aimed at continued improvement and optimization of all phases of the chemical process to produce lithium carbonate (LC). Optimization work focused on leaching conditions and lithium recovery, minimizing lithium losses during neutralization and magnesium sulphate crystallization, and on increasing the LC purity in the precipitation stage.

Highlights:

• LC purity increased to 99.59 per cent (up from 99.4 per cent);
• Lower leach temperature of 50 degrees (down from 90 degrees), with continued high lithium extraction rates (95 per cent);
• Significant potential for lower acid consumption;
• Potential for lower lithium losses during impurity removal;
• Further optimization work continues to refine flowsheet for prefeasibility study;
• Process improvements expected to enhance project returns.

Simon Clarke, chief executive officer of American Lithium, states: "We are very pleased with the latest optimization work on the TLC flowsheet as we move through prefeasibility. The flowsheet continues to be refined with improvements and results that should improve on the already robust $3.28-billion (U.S.) NPV for the project highlighted in the company's maiden PEA. We are able to make strong, rapid progress utilizing the expertise of TECMMINE in Peru, ANSTO in Australia and DRA Global, our lead engineers, to drive TLC through the prefeasibility process. We also believe that our focus on large-scale projects in Peru and Nevada, which can produce high-purity lithium products which do not need to be shipped overseas for upgrading or refining, best meets the critical need for secure supplies of battery metals in as fast a timeline as possible."

Sulphuric acid leaching and lithium carbonate precipitation test work -- details

Optimization bench-scale test work has been continuing on the TLC flowsheet at TECMMINE Laboratories in Lima, Peru, over the past several months since the TLC preliminary economic assessment (PEA) was published (refer to company news release dated March 20, 2023). This work has been conducted under the supervision of chief metallurgist Jose Malqui, president of TECMMINE, with technical input on test conditions from DRA Pacific. Leach conditions have been optimized using sulphuric acid leaching at 50 degrees achieving 95-per-cent lithium (Li) extraction in a two-hour leach cycle with 495 kilograms/tonne acid consumption. This lowers the leaching temperature conditions from 90 degrees used in the PEA, with comparable extraction. These leach parameters resulted in lower acid consumption, which translates into lower limestone consumption during the preneutralization phase and a reduction in lime requirements during the neutralization stage.

Magnesium sulphate crystallization was improved, resulting in 68-per-cent total magnesium recovery and minimizing lithium losses to 1.1 per cent during this impurity removal phase.

The final lithium recovery through the entire hydrometallurgical process achieved in this single test is 84.8 per cent with the highest lithium carbonate (LC) purity achieved to date from TLC claystone processing test work.

A final calculated LC purity of 99.59 per cent LCE was attained through the new optimized leach process.

Test conditions were as follows:

• Two-hour agitated atmospheric leaching using sulphuric acid at 50 degrees followed by filtration and residue washing achieved 95-per-cent lithium extraction.
• Leach solution was neutralized with limestone and lime to remove iron and aluminum, followed by precipitate washing to recover entrained solution; completed with 98.9-per-cent recovery of lithium to filtrate and rinse solutions.
• Sulphate crystallization by evaporation and cooling followed by treatment with lime to remove remaining magnesium, with 91.2-per-cent lithium recovery. This step is critical and will be further optimized to minimize Li losses.
• Calcium removal and lithium carbonate production by reaction with sodium carbonate. All products (precipitates and solutions) from these steps would be recycled in a commercial process, so no losses are expected, or considered from these steps. Global lithium recovery of 84.8 per cent.
• LC product was sent to CIMM Laboratories in Lima for inductively coupled plasma mass spectrometry/optical emission spectroscopy multielement analysis. A calculated purity of 99.59 per cent LC was achieved.
• All processing steps were simulated by batch testing in open cycle. Recycling of products was not simulated. These results will be verified by continuous and/or pilot testing with appropriate solution recycling.
• Lithium contained in products that would be recycled during commercial processing was considered recovered.

Qualified persons

John Joseph Riordan, BSc, CEng, FAuslMM, MIChemE, RPEQ, of DRA Pacific Pty. Ltd., an independent qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical metallurgical information contained in this news release.

Ted O'Connor, PGeo, executive vice-president of American Lithium, a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About American Lithium Corp.

American Lithium is actively engaged in the development of large-scale lithium projects within mining-friendly jurisdictions throughout the Americas. The company is currently focused on the continued 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 hard-rock lithium project and Macusani uranium project in southeastern Peru. All three projects, TLC, Falchani and Macusani, have been through robust preliminary economic assessments, exhibit strong expansion potential and enjoy strong community support. Prefeasibility work is well advanced at Falchani and has commenced at TLC.

We seek Safe Harbor.