Mr. Michael Dake reports

AMERICAN SALARS ARRANGES PRIVATE PLACEMENT

American Salars Lithium Inc. has arranged an unsecured convertible debenture private placement of up to $500,000 at a price of 15 cents per convertible debenture unit. The principal amount of the debentures will mature 36 months from the issuance of the debentures. The principal amount of the debentures will accrue interest at 10 per cent per annum, commencing on the issuance date, which interest will be payable (or converted) at the maturity date, or at any time prior to the maturity date, at the option of the debenture holder. The principal amount, and accrued and unpaid interest, shall be convertible at a price of 15 cents per common share, calculated based on the term held until conversion, subject to adjustment.

For each principal debenture amount of 15 cents, the company shall also issue one transferrable share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of 25 cents per warrant for a period of three years after issuance of the debentures and warrants. The holders of the debentures and warrants shall not have the right to convert any portion of the principal amount plus any accrued but unpaid interest, and/or exercise any warrants, if, after giving effect to such conversion or exercise, the holder (and persons acting jointly or in concert with such holder) would beneficially own in excess of 9.9 per cent of the company's issued and outstanding common shares after giving effect to such conversion or exercise.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the private placement offering will be subject to a four-month hold period commencing on the closing date. The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About American Salars Lithium Inc.

American Salars is an exploration company focused on exploring and developing toward the production of high-value battery metals projects to meet the demands of the advancing electric vehicle market.

We seek Safe Harbor.