Mr. Alex Tsakumis reports

AMERICAN LITHIUM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

American Lithium Corp. has arranged a non-brokered private placement of up to 30 million units of the company at a price of 27 cents per unit for aggregate gross proceeds of up to $8.1-million.

Each unit issued pursuant to the private placement will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 50 cents for 36 months from the closing date of the private placement.

The company intends to use the net proceeds from the private placement for working capital and general corporate purposes.

The private placement is subject to certain closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals and the approval of the TSX Venture Exchange.

The private placement will be made to qualified investors in such provinces of Canada as the company may designate, and otherwise in those jurisdictions where the private placement can lawfully be made. All securities issued pursuant to the private placement will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

The private placement may include one or more subscriptions by directors or other insiders of the company. Subscriptions completed by insiders in the private placement may constitute a related party transaction as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, and Policy 5.9 of the TSX-V. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 on the basis that neither the fair market value of the units issued to interested parties (as defined in MI 61-101) nor the consideration received for those units will exceed 25 per cent of the company's market capitalization.

About American Lithium Corp.

American Lithium is developing two of the world's largest advanced-stage lithium projects, along with the largest undeveloped uranium project in Latin America. They include the TLC claystone lithium project in Nevada and the Falchani hard-rock lithium project and the Macusani uranium deposit, both in southern Peru. All three projects have been through robust preliminary economic assessments, exhibit significant expansion potential and enjoy strong community support.

We seek Safe Harbor.