American Lithium Reports Successful Resource Conversion with Significant Increase in Measured Resources at TLC, up 47% to 6.17 Mt contained LCE

Core Viewpoint - American Lithium Corp. has announced an updated Mineral Resource Estimate (MRE) for the Tonopah Lithium Claims project, showing a significant increase in Measured Resources and a decrease in Indicated and Inferred Resources compared to the previous estimate in 2023 [1][3]. Resource Estimate Summary - The updated MRE has converted Indicated Resources to the Measured category, resulting in a 47% increase in Measured Resources from the previous 2023 MRE [1][3]. - The updated MRE includes data from 44 additional drill holes since the last estimate, enhancing the confidence in the resource block model [2]. - The Measured Resource now stands at 6.17 million tonnes (Mt) Lithium Carbonate Equivalent (LCE) at 849 ppm Li, while the Indicated Resource is 2.39 Mt LCE at 808 ppm Li, reflecting a 48% decrease from the previous estimate [3]. - The total Measured plus Indicated Resource is 8.56 Mt LCE, which is a 3% decrease from the 2023 MRE [3]. - Inferred Resources have decreased by 22% to 1.44 Mt LCE at 780 ppm Li [3]. Project Development Focus - The company emphasizes the importance of the newly established Measured Resource footprint as it forms the core of the 2024 Preliminary Economic Assessment (PEA) Mine Plan [2]. - The company is focused on advancing its projects in anticipation of a recovery in the battery metals market [2]. Technical Details - The MRE was prepared by Stantec Consulting Services Inc. and follows CIM definitions for classification of Mineral Resources [2][8]. - The resource estimate is based on a lithium carbonate price of US$20,000 per tonne and a mining cost of US$3.00 per tonne, with a lithium recovery rate of 90% [5][12]. - The geological model used for the resource estimation was developed using Hexagon Mining's software, ensuring a robust methodology [9]. Company Overview - American Lithium is developing two major lithium projects and the largest undeveloped uranium project in Latin America, indicating strong growth potential [21]. - The company has received positive community support for its projects, which enhances its operational stability [21].