AMLM Expands Global Footprint with Strategic Acquisition of High-Grade Gold Projects in Canada and Tanzania

Core Insights - American Lithium Minerals Inc. has entered into letters of intent to acquire two high-potential gold projects, one in Canada and the other in Tanzania, marking a significant milestone in its strategy to diversify its asset base [1][2] Acquisition Details - The company has signed a Letter of Intent with Aurum Excalibur Ventures Limited to acquire an 18% interest in the Sangambi Gold Project, which has a mineral resource estimate of 1.2 million ounces of gold at an average grade of 2.0 g/t [3][4] - The acquisition price for the Sangambi Gold Project is based on a valuation of $23 per ounce of gold in the ground [4] - A second Letter of Intent has been signed with 50 Mile Mining Corporation to acquire a 49% interest in the company for AMLM preferred shares, focusing on the Cheryl Creek gold mining project in Yukon, Canada [6] Strategic Importance - These acquisitions are seen as transformative for American Lithium Minerals, as they secure high-quality gold assets in both stable and high-growth mining jurisdictions, enhancing the company's portfolio for both near-term production and long-term exploration success [7] - The company plans to initiate comprehensive exploration programs on both properties in 2026, including geophysical surveys and targeted drilling [7] Project Characteristics - The Canadian Gold Project is located in a prolific mining camp with existing infrastructure and historical high-grade intercepts, while the Tanzanian Gold Project features a large-scale land package in a proven gold belt with significant artisanal mining activity [11]