Improved Salt Roast - Water Leaching Yields 89.4% Lithium Extraction

VANCOUVER, Sept. 15, 2021 - American Lithium Corp. ("American Lithium" or the "Company") (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to provide details of additional progress optimizing recent salt roasting and water leaching work on lithium mineralization from the Tonopah Lithium Claims Project located near Tonopah, Nevada ("TLC") .

Roast-Water Leach Process Highlights:

• Ongoing process work at TECMMINE in Lima, Peru has replicated, and improved upon, promising initial roasting results from Hazen Laboratory using sulphate and/or chloride salts, followed by water leaching. With this continued progress, the Company will pursue/finalize further optimization work.
• The best salt roast - water leach results achieved to date at TECMMINE, include:
  • 89.4% Li extraction using a combination of gypsum, sodium chloride and sodium sulfate roasting;
  • 87.3% Li extraction using a combination of gypsum and sodium chloride; and
  • 79.3% Li extraction using gypsum-only.
    

Dr. Laurence Stefan, COO of American Lithium, states, "the success of roasting TLC lithium claystones continues to demonstrate the processing versatility of this unique style of mineralization and its untapped potential. Salt roast - water leaching results in minimal impurities in pregnant leach solutions and allows the production of either lithium carbonate or lithium hydroxide further enhancing the Project's flexibility. It also results in higher extraction of potential value-added by products. With recent optimization work significantly improving lithium extraction from all our process options over a short time-frame, it makes sense to continue and finalize this phase of development. This will ensure that we maximize the potential of each process option, which in turn will enable us to select the best flow-sheet for our preliminary economic assessment ("PEA")."

Roast-Water Leach Process Details:

Roasting test work has previously shown promising results for processing TLC claystone lithium mineralization. The recent program completed at TECMMINE has experimented with varying grind size, roasting temperature, time and both quantity and type of roast salt reagent addition.

This processing route for lithium extraction also results in higher extraction of potassium (K-84%) and rubidium (Rb-86%) that may facilitate the production of fertilizer (SOP - sulphate of potash) and/or highly technical chemicals (rubidium hydroxide) as potential value-added by-products at TLC in Nevada.

It has become clear that salt roasting requires an interplay of calcium (gypsum) salts and sodium salts (NaCl/sodium sulphate) to maximize Li extraction. Work thus far included roast optimization with varying reagent quantities, the type of salt reagents, temperature, roast and leach time and grind size as well as by-product potential. These improvements will be integrated into the process to determine the best flow sheet option for the PEA as the Company determines the economic and environmental trade-offs for the salt roast - water leach process option. Optimization of leach test work on the Company's other successful processing options also continues.

Qualified Person
Mr. Ted O'Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information related to TECMMINE contained in this news release.

About American Lithium
American Lithium, a member of the TSX 50, is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada as well as continuing to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have been through preliminary economic assessments, exhibit strong additional exploration potential and are situated near significant infrastructure.

The TSX Venture 50 is a ranking of the top performers in each of 5 industry sectors in the TSX Venture Exchange over the last year.

For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com for project update videos and related background information.

Follow us on Facebook, Twitter and LinkedIn.

On behalf of the Board of Directors of American Lithium Corp.

"Simon Clarke"

CEO & Director

Tel: 604 428 6128

For further information, please contact:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the plans, objectives and advancement of the TLC, Falchani and Macusani (the "Projects"), exploration drilling plans, in-fill and expansion drilling plans, results of exploration and development plans, expansion of resources and testing of new deposits, environmental and social community permitting, and any other statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", "indicate", "scheduled", "target", "goal", "potential", "subject", "efforts", "option" and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium's ability to achieve its stated goals, including the anticipated benefits of the acquisition of Plateau Energy Metals Inc. ("Plateau"); the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, American Lithium or others to attempt to reduce the spread of COVID-19 could affect American Lithium, which could have a material adverse impact on many aspects of American Lithium's businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium's ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium's potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of American Lithium, including the status of the "Precautionary Measures" filed by American Lithium's subsidiary Macusani Yellowcake S.A.C. ("Macusani"), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium's shares and could negatively affect American Lithium's ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the "Risks and Uncertainties" section of Plateau's Management's Discussion and Analysis filed on June 25, 2021, in the "Risk Factors" section of American Lithium's Management's Discussion and Analysis filed on June 25, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

Cautionary Note Regarding Macusani Concessions
Thirty-two of the 151 concessions held by American Lithium's subsidiary Macusani, are currently subject to Administrative and Judicial processes (together, the "Processes") in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani's title to the 32 of the concessions invalid due to late receipt of the annual validity payment. Macusani successfully applied for injunctive relief on 32 concessions in a Court in Lima, Peru, and the grant of the Precautionary Measures (Medida Cautelar) has restored the title, rights and validity of those 32 concessions to Macusani until a final decision is obtained in at the last stage of the judicial process. If American Lithium's subsidiary Macusani does not obtain a successful resolution of Processes, Macusani's title to the concessions could be revoked.