Mr. Simon Clarke reports

AMERICAN LITHIUM RECEIVES NASDAQ NOTICE OF MINIMUM PRICE DEFICIENCY AND CLARIFIES PREVIOUS ENGAGEMENT WITH NEW ERA PUBLISHING INC.

American Lithium Corp. has received written notification from the Nasdaq Stock Market LLC (Nasdaq) on March 8, 2024, indicating that the company is not in compliance with the minimum bid price requirement of $1.00 (U.S.) per share under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the company's common shares for the 30 consecutive business days from Jan. 25, 2024, to March 7, 2024.

The notice has no immediate effect on the listing or trading of the company's common shares on Nasdaq, and the company's operations are not affected by the receipt of the notice. Under Nasdaq Listing Rule 5810(c)(3)(A), the company has been provided 180 calendar days from the date of the notice, or until Sept. 4, 2024, to regain compliance with the minimum bid requirement, during which time the company's common shares will continue to trade on Nasdaq.

To regain compliance the company's common shares must have a closing bid price of at least $1.00 (U.S.) for a minimum of 10 consecutive business days. If the company does not regain compliance with the minimum bid requirement by Sept. 4, 2024, the company may be eligible, upon satisfaction of certain Nasdaq listing requirements, for an additional period of 180 calendar days to regain compliance.

The company will closely monitor the situation and is considering various strategies to regain compliance with the minimum bid requirement under Nasdaq's listing rules. The notice does not have any impact on the listing of the company's common shares on the TSX Venture Exchange.

New Era Publishing Inc.

The company also confirms that its previous engagement of New Era Publishing to provide marketing services to the company, as announced by the company on May 8, 2023, was concluded on Aug. 31, 2023, and no further services have been provided since that date. During the course of the engagement, New Era co-ordinated with Raging Bull LLC to publish certain marketing materials pertaining to the company without the prior knowledge of the company. The company has no current engagement with New Era, nor does it presently have any intention to engage New Era to provide further services to the company. The TSX Venture Exchange has not accepted the previous engagement of New Era, as it did not comply with exchange policy, and prior approval of the TSX Venture Exchange will be required in the event of any future engagement involving New Era, Raging Bull, its principals and any other service providers that provide activities under TSX Venture Exchange Policy 3.4.

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 enabling the shift to the new energy paradigm through the continued development of its strategically located TLC lithium project in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to advance its Falchani lithium and Macusani uranium development-stage projects in southeastern Peru. All three projects, TLC, Falchani and Macusani, have been through robust preliminary economic assessments, exhibit strong significant expansion potential and enjoy strong community support. Prefeasibility is advancing well at TLC and Falchani.

We seek Safe Harbor.