Mr. Alex Tsakumis reports

AMERICAN LITHIUM GRANTS INCENTIVE STOCK OPTIONS

American Lithium Corp. has granted incentive stock options, restricted share units and deferred share units to directors, officers, employees and eligible consultants in accordance with the company's omnibus incentive plan dated Nov. 15, 2023, and TSX Venture Exchange policies.

The company granted options to purchase an aggregate 7,725,000 common shares of the company exercisable at 51 cents per share. The options will vest over a 12-month period, with one-third vesting on the date of grant, a further one-third vesting six months thereafter, nd the balance vesting 12 months from the date of grant. Once vested, each option is exercisable into one common share and will expire five years from the date of grant.

The company also granted a total of 2,325,000 RSUs and 525,000 DSUs. The RSUs will vest 12 months from the date of grant. Once vested, each RSU and DSU entitle the holder to receive one common share. DSUs may only be settled once a director ceases to serve on the company's board of directors.

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, the Falchani hardrock 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.