VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 28, 2016) – American Lithium Corp. (TSX VENTURE:LI)(OTCQB:LIACF)(FRANKFURT:5LA)(WKN:A2AHEL) (“American Lithium” or the “Company”), is pleased to announce that the Company has received approval for its revised drilling permit and thus will be initiating a five well drill program at the Fish Lake Valley lithium exploration project. The Company also announces that it has now received the required permitting to drill up to six wells on its Clayton Valley property. Drilling is expected to commence in early January.
The two drill programs are designed to collect information on aquifer characteristics and test the lithium values in aquifer brines. The Company intends on deploying a sonic drill rig equipped to reach depths of 300 metres (1000 feet).
Mike Kobler, COO, commented “I am pleased to have received these important permits. Our work to date has produced a large and growing information base on our projects and we have now used this knowledge to specifically design a sonic drill rig capable of drilling to depths of 300 plus metres. This technique provides us with the most cost-effective and timely drilling possible.”
Michael Collins, P.Geo. is the Company’s designated Qualified Person within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.
About American Lithium Corp.
American Lithium Corp. is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. American Lithium holds options to acquire Nevada lithium brine claims totaling 22,332 acres (9,038 ha), including 18,552 contiguous acres (7,508 ha) in Fish Lake Valley, Esmeralda County; 2,240 acre (907 ha) San Emidio Project in Washoe County; and the 1,540 acre (623 ha) Clayton-Valley-1 Project. The Company’s Fish Lake Valley lithium brine properties are located approximately 38 kilometers from Albemarle’s Silver Peak, the largest lithium operation in the U.S., approximately 3.5 hours from the Tesla Gigafactory.
American Lithium is listed on the TSXV under the trading symbol “Li”. For further information, visit the Company’s website at www.americanlithiumcorp.com.
On behalf of the Board, American Lithium Corp.
Karl Kottmeier, President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by American Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in American Lithium’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.