Buckley Flat Graphite Assay Results

LAS VEGAS, May 22, 2024 - American Lithium Minerals (OTC PINK:AMLM) is pleased to announce that it has received encouraging assay results from initial sampling at its Buckley Flat Graphite property.

Rising Demand for Graphite

According to a recent report, Graphite is deemed a critical material by the US, and about a century ago it was mined abundantly in the country, mostly in Alabama. However, there has been no Graphite mining in the United States since 1990, when United Minerals suspended operations at its graphite mine in Montana. As a result, the US now imports all of its graphite, mostly from China, with additional imports from Mexico, Canada and India.

Graphite is used in batteries, brake linings, lubricants, powdered metals, refractory applications and steelmaking.

Demand for graphite is rising because it is used in lithium-ion batteries for electric vehicles. Lithium-ion batteries typically contain 10 to 30 times more graphite than lithium. Graphite is also necessary for sodium-ion batteries.

Reportedly, Tesla's Reno gigafactory and mission to source materials from North America have played a significant role in growing calls for US-produced graphite. The company is planning to add additional gigafactories in the coming years, and other manufacturers are following suit.

AMLM's Buckley Flat Graphite Property

AMLM's Buckley Flat Graphite project is located near Hawthorne, in Mineral County, Nevada. The property is comprised of four unpatented lode mining claims (80 acres) on land administered by the US Bureau of Land Management. The property is about midway between Reno and Tonopah, Nevada, and is accessed by Nevada State Route 839 from US Hwy 50 or US Hwy 95. It is about 110 miles (2-hour drive) from the Tesla Gigafactory.

Buckley Flat is one of a small handful of documented Nevada Graphite occurrences. AMLM acquired the property by staking in 2022. There are a number of historical mine shafts and prospect pits. A composite grab sample of several pieces of mineralized rock was taken from the dumps of the Main Shaft by AMLM personnel.

The sample was submitted to the ALS Reno office, where the sample was crushed, split, pulverized and analyzed for Carbon by IR Spectroscopy. Quality Control procedures were followed using both a blank sample and a duplicate sample.

The sample assayed 1.52% Carbon. AMLM views this result as very encouraging. It is highly anomalous as the average crustal abundance of Carbon is only 0.02%. The 1.52% Buckley Flat assay result is also in the same order of magnitude as the reported 5.1% average grade for an advanced Graphite exploration project of another company in Alaska. AMLM believes that Buckley Flat deserves rigorous geochemical work, to be carried out over the 12 months.

About American Lithium Minerals, Inc.: AMLM is a Nevada-based lithium exploration company with five (5) lithium projects in Central Nevada (Sarcobatus, Stonewall Flat, West End, Silverpeak and Claystone Hills). AMLM also has four (4) projects in Nevada, Arizona and Illinois for other battery metals, named Blue Bull Cobalt, Nickel and Manganese; Buckley Flat Graphite; Kingman Rare Earth and Hicks Dome Rare Earth.

Contact:
Barbara Bauman, President
702-533-8369
American Lithium Minerals Inc.

SOURCE: American Lithium Minerals Inc.