Battery Metals

american lithium energy

American Lithium Co-recipient of U.S. Department of Energy Grant For US$4.5M Lithium Processing Pilot Plant

American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) ("American Lithium" or the "Company"), a global leader in the exploration and development of lithium projects, reports being selected by the U.S. Department of Energy Advanced Manufacturing Office ("DoE"), with co-recipient American Battery Technology Company (formerly called American Battery Metals Corporation) ("ABTC") and another industry partner, to receive grant funding totalling 50% of the capital cost for a US$4.5 million lithium extractionhydroxide pilot plant.

The grant provides funding to complete field demonstration of selective leaching, targeted purification, and electro-chemical production of battery grade lithium hydroxide precursor from US claystone deposits, and more specifically American Lithium's TLC Project, near Tonopah, Nevada ("TLC"). The funding is part of US government agencies' efforts to reduce American dependence on foreign supply of important critical minerals including battery metals required for American energy storage needs, including the electrification of the vehicle sector. Further details on the project are available here .

Specifically, this project will look to utilize ABTC's proprietary lithium extraction technologies to extract lithium from American Lithium's unique TLC claystone deposits. The lithium mineralization at TLC has a number of unique properties and has shown the potential, utilizing more traditional methods of extraction, for fast, efficient, and cost-effective lithium extraction. While the Company will proceed with its own initiatives to establish the best, commercially viable process for lithium extraction from TLC, it will concurrently take part in this DoE funded pilot project utilizing ABTC's technologies in combination with TLC claystone deposits.

Mike Kobler, CEO of American Lithium, stated, "We are extremely pleased to partner with ABTC on this high profile pilot project with funding from the Department of Energy. We believe that it is a strong validation of the unique characteristics of lithium mineralization at TLC that the US Government selected this project to back and provide funding for. It's exciting to be working with ABTC and others on this multi-year, industry led partnership to improve the production of lithium hydroxide from domestic sources. Together, we can be leaders in the growth of lithium chemical supply in the burgeoning field of large-scale battery manufacturing in the United States."

Injunction Granted to Plateau Energy Metals Peruvian Subsidiary Relating to Disputed Peruvian Concessions

American Lithium is also pleased to refer readers to the announcement made by Plateau Energy Metals (‘Plateau") on March 2, 2021 confirming that its subsidiary, Macusani Yellowcake S.A.C ("Macusani"), has now been granted injunctive protection in relation to 32 concessions which are currently subject to an ongoing judicial review in Peru. This judicial process relates to claims from local regulators, disputed by Macusani, that it was late in paying its 2017 annual validity rights relating to these concessions.

This injunction is a precautionary measure ("Medida Cautelar") which restores the ownership, rights and validity of the disputed concessions to Macusani while the legal process is ongoing. Both American Lithium and Plateau Energy Metals view this as a very positive development as it eliminates the possibility of any of the disputed concessions being transferred to other parties while the legal process is ongoing. The full announcement by Plateau can be viewed at: https://plateauenergymetals.com/plateau-energy-metals-announces-grant-of-injunction-to-macusani-for-concessions-in-peru/

Simon Clarke, Director of American Lithium, stated, "Our recently announced acquisition of Plateau is made on the basis of the assets and team in place at the time of announcement and is not predicated in any way upon these disputed concessions being fully restored. We believe there are strong synergies between the two companies and a strong rationale for combining them."

About American Lithium

American Lithium, a TSX Venture 50 Company, is actively engaged in the exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas.  The company is currently exploring and developing the TLC lithium project located in the highly prospective Esmeralda lithium district in Nevada.  TLC is close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and in the same basinal environment as Albemarle's Silver Peak lithium mine and several advancing deposits and resources, including Ioneer Ltd.'s (formerly Global Geoscience) Rhyolite Ridge and Cypress Development Corp.'s Clayton Valley Project.

On behalf of the Board,

American Lithium Corp.
Michael Kobler, 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.

Forward-looking statements
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 release 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.

For further information, please contact:

American Lithium Corp.
Email: info@americanlithiumcorp.com
Website: https://www.americanlithiumcorp.com/


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The term Mega-Flex refers to the facility's ability to process diverse lithium feedstock, including lithium from recycled batteries. Albemarle expects the facility to annually produce approximately 50,000 metric tons of battery-grade lithium hydroxide from multiple sources, with the potential to expand up to 100,000 metric tons. Production at the facility would support the manufacturing of an estimated 2.4 million electric vehicles annually. The site also supports the Inflation Reduction Act, a federal law enacted in 2022 to incentivize the localization of critical minerals in North America.

"This facility will help increase the production of U.S.-based lithium resources to fuel the clean energy revolution while bringing us closer to our customers as the supply chain is built out in North America ," said Albemarle CEO Kent Masters . "This investment supports our long-term commitment to providing innovative products and solutions that enable a more resilient world. We look forward to partnering with the state of South Carolina on this important project."

Pending permitting approvals, the facility will be located within a nearly 800-acre parcel. Albemarle estimates the facility will create more than 300 new jobs with an average annual wage of approximately $93,000 . In addition, the project would create more than 1,500 construction jobs.

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About Albemarle

ALBemarle Corporation (NYSE: ALB) is a global leader in transforming essential resources such as lithium and bromine into critical ingredients for mobility, energy, connectivity, and health. Together with our world-class resources, technical and process knowledge, and safety and sustainability performance, we partner with our customers to pioneer new ways to move, power, connect, and protect. We are committed to building a more resilient world where people and planet thrive. Learn more about Albemarle at www.albemarle.com and at @albemarlecorp on LinkedIn, Twitter, and Facebook.

Albemarle regularly posts information to its website, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding the company, its businesses and the markets it serves.

Forward Looking Statements

This press release contains statements concerning our expectations, anticipations, intentions, beliefs, or strategies regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions and events to differ materially from those anticipated, often contain words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "would," "will" and variations of such words and similar expressions. Forward-looking statements may include, without limitation, statements regarding expected production capacity of the Mega-Flex plant, the number of jobs and economic opportunities it may create, the timing of its construction and becoming operational, and all other information relating to matters that are not historical facts. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold; fluctuations in lithium market pricing; changes in laws and government regulation; and the other factors detailed in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available on the investor section of our website ( investors.albemarle.com ). These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-corporation-announces-new-us-lithium-mega-flex-processing-facility-in-south-carolina-301778807.html

SOURCE Albemarle Corporation

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