Mr. Michael Dake reports

AMERICAN SALARS CONFIRMS DRILL PERMITS IN PLACE FOR PRODUCTION DIAMETER WELL DRILL PROGRAM TO EXPAND AND UPGRADE NI 43-101 457,000 TONNE INFERRED LITHIUM CARBONATE RESOURCE AT CANDELA II LITHIUM BRINE PROJECT

American Salars Lithium Inc. has in place the necessary drill permits for a resource expansion and production diametre drill program at the American Salars Candela II lithium brine project located in the Incahuasi salar, Salta province, Argentina.

The 400-metre drill holes will test the additional depth from the 200-metre to 400-metre zone that appeared highly prospective for lithium in the MT survey data collected in 2023. The diametre of the production well is 20 centimetres (cm) to 30 cm in diametre and will provide the company's first production ready well at the project.

American Salars's director, Rodney Campbell, states: "This will be our first major step towards production at the Candela II lithium brine project. The project is a 3,000-hectare (30 square kilometres) established resource ideally situated for direct lithium extraction (DLE). The Candela II concession is contiguous to and close in proximity to multiple major lithium companies including Ganfeng, Allkem (now Arcadian PLC) on the Incahuasi salar. We anticipate upcoming drilling and pumping tests on the Candela II project to expand and further define a NI 43-101-compliant indicated and measured mineral resource estimate."

Mineral resource estimate (MRE)

The MRE for the Candela II lithium project is reported in accordance with NI 43-101 and has been estimated in conformity with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum estimation of mineral resource and mineral reserves best practices guidelines. The effective date of the MRE is Sept. 18, 2023. Average specific yield values, per domain, were applied to the total metal tonnages to obtain the yield from the available brine. The LCE is calculated from the ratio of lithium carbonate (Li2CO3) to Li (5.32:1). The calculations assume no process losses.

The Ekosolve extraction pilot tests were completed and reported on the March 14, 2022.

Qualified person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, CMV, a qualified person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release and has approved the disclosure herein.

About American Salars Lithium Inc.

American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market. Its flagship project is the Candela II salar project in Argentina which features an NI 43-101 inferred resource.

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