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VANCOUVER, BC TheNewswire - FEBRUARY 26th, 2026 American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI,OTC:USLIF, OTC: USLIF, FWB: Z3P, WKN: A3E2NY) is pleased to announce that it has entered into a Mineral Claims Option Agreement dated February 24th, 2026, to acquire up to a 100% undivided interest in seven (7) mineral claims comprising the Petawaga Lithium–Niobium–Uranium Project located approximately 45 kilometres northwest of Mont-Laurier, Québec.
The seven claims collectively cover approximately 411 hectares and encompass the entirety of the historical Petawawa River showing, including the site of a 45 kg bulk sample collected from a pegmatitic dyke that returned 3.4% Nb2O5 and 0.65% U3O81. The property benefits from year-round road access and proximity to established infrastructure in the Mont-Laurier region.
Historical exploration results referenced herein are derived from publicly filed assessment reports available through the SIGÉOM geological database administered by the Ministère des Ressources et des Forêts du Québec.
Petawaga Project Overview:
The Petawaga Project is located in the southwest part of the Grenville Geological Province and straddles the limits of the Baskatong Promontory and the Central Gneissic Belt, two important structural domains separated by a major thrust fault. Historical exploration work reported the presence of several pegmatites located nearby the Petawaga River. Samarskite, euxenite, thorianite, columbite and lepidolite were recognized in these pegmatites1. On a regional scale, the area surrounding Mont-Laurier is known to host several uranium pegmatites and, more lately, niobium and REE-bearing dykes were identified (Boxi, Lac Lyon, Lac Leroux showings). These showings are located on the margin of the Baskatong promontory and Central Metasedimentary Belt, which suggests a favorable context for the emplacement of pegmatites derived from anatexis.
The Company cautions that historical results have not been independently verified and should not be relied upon as current mineral resources. However, the bulk nature of the sampling indicates that the grades were not derived from selective grab specimens but from material collected at meaningful scale.
REFERENCE
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Corminboeuf, F., 1956. Geological Report, Petawaga Mining Corp;GM 04222 7 p.
Transaction Terms
The Company has entered into the Option Agreement with a group of arm's length vendors (the "Vendors") pursuant to which the Company may acquire up to a 100% interest in the seven mineral claims.
Under the terms of the agreement, the Company may earn up to a 100% undivided interest in the claims by making aggregate cash payments totaling C$120,000 over a three-year period, structured as follows:
• C$5,000 upon signing of the agreement
• C$5,000 within 60 days
• C$10,000 at three months
• C$10,000 every three months thereafter until the total consideration of C$120,000 has been paid
Upon completion of the payment schedule, 100% ownership of the claims will transfer to the Company.
In the event of default, the Vendors retain termination rights subject to notice and cure provisions as set out in the agreement.
The Vendors are arm's length to the Company.
Qualified Person
Isabelle Robillard, P. Geo (OGQ#287), a "qualified person" as such term is defined by National Instrument 43-101, has reviewed and approved the technical data disclosed in this news release.
ABOUT AMERICAN SALARS
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.
On Behalf of the Board of Directors,
"R. Nick Horsley"
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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