Mr. R. Nick Horsley reports

AMERICAN SALARS ANNOUNCES DEBT SETTLEMENT

American Salars Lithium Inc. has arranged to settle outstanding indebtedness of $129,000.

The company intends to settle outstanding indebtedness of $129,000 in exchange for an aggregate of 600,000 common shares of the company at a price of 21.5 cents per common share.

The securities, when issued, will be subject to a four-month-and-one-day hold from the date of issuance. In addition, the debt settlement is subject to the approval of the Canadian Securities Exchange.

This debt settlement includes outstanding indebtedness of $43,000 owing to the company's chief executive officer Nick Horsley's management company. As a result, the debt settlement is a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on the exemptions from the formal valuation and minority approval requirements of MI 61-101 based on a determination that the fair market value of the debt settlement, insofar as it involves related parties, does not exceed 25 per cent of the market capitalization of the company.

About American Salars Lithium Inc.

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

We seek Safe Harbor.