VANCOUVER, British Columbia, June 25, 2020 (GLOBE NEWSWIRE) — American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (Frankfurt: 5LA1) (“American Lithium” or the “Company”), a leading lithium exploration and development company, is pleased to announce the appointment of Simon Clarke as a director of the Company and G.A. “Ben” Binninger as Special Advisor to the Board.
Simon Clarke brings 25 years experience in building companies and implementing successful capital markets and growth strategies focused in mining, energy, and energy technology. Most recently, Mr. Clarke was founder, CEO, and director of M2 Cobalt Corp. (cobalt / copper exploration in East Africa) which sold to Jervois Mining Ltd. in June 2019. Mr Clarke brings significant experience and knowledge of the battery metals space and his roles with M2 Cobalt and Jervois Mining involved managing government and stakeholder initiatives relating to the supply of battery metals in a number of jurisdictions. In particular, he has first-hand experience of the critical minerals initiatives in the United States and the urgent need to develop domestic sources of supply of critical minerals, including battery grade lithium.Mr Clarke was a co-founder of Osum Oil Sands Corp. who, together with American Lithium CEO Michael Kobler, built a company valued in excess of US$1 billion at its peak and which currently produces 20,000 bopd. Mr Clarke remains a Board Observer at Osum and is currently CEO of Apollo Gold Corp. He holds an LLB and Diploma in Legal Practice from Aberdeen University, Scotland.Mr. G. A. (Ben) Binninger is a chemical engineer who brings a wealth of experience in senior management and board roles over a career spanning more than 35 years. Ben has held a number of high-profile roles in a variety of sectors including mining, energy, materials, environmental and advanced technologies. Mr Binninger has direct experience in lithium and related minerals having been CEO of Potash Minerals and a member of the advisory Board of Millennial Lithium. He has also created sophisticated process and services companies for global leaders such as Rio Tinto and ARCO. Mr Binninger will provide key strategic advice as development of the TLC Lithium Project (“TLC”) continues to evolve in line with continued de-risking and as the need for large-scale, domestic lithium projects becomes more widely recognized.Mr Binninger holds an MBA from Harvard Business School, where he attended on a Teagle Foundation Fellowship, and BChE from Manhattan College (NYC scholarship).Michael Kobler, CEO of American Lithium, states “We are delighted to strengthen our team with the appointments of Simon and Ben as their experience is very relevant to our initiatives at American Lithium.The Covid-19 pandemic has shown ever more clearly just how dangerous it is for US industry to remain so dependent on China and other foreign jurisdictions for a number of key minerals, including lithium. As we de-risk TLC, we believe the locational, environmental, and operating cost advantages of our deposit, especially when compared to a number of hard-rock and brine lithium operators, will become more and more evident. We intend to develop appropriate development strategies for TLC to highlight locally, and at the Federal level, how well the project fits into the Critical Minerals Initiatives.” Investor Relations and Market Awareness ProgramsPursuant to American Lithium’s plan to generate a greater following amongst European investors, the Company has engaged Clarkham Capital Ltd. to run market awareness programs across various European platforms and the United States. Clarkham has been paid a total of 100,000 euros to run its marketing programs. In addition to Clarkham, American Lithium continues to retain Promethean Marketing in the United States to provide marketing services including content distribution and advertising.About the TLC DiscoveryThe TLC sedimentary lithium discovery is an exploration and development project located 12 kilometers northwest of Tonopah, Nevada, and easily accessible by paved highway. Work to date has identified a 5.3 million tonne measured and indicated lithium carbonate equivalent resource, with an additional 1.7 million tonnes inferred, placing the company’s resource amongst a handful of potential lithium deposits in Western North America capable of development. TLC is near-surface, relatively flat-lying and a free digging lithium sedimentary deposit that the company expects to advance through an early stage economic study in 2020. Just south of the Crescent Dunes solar energy plant, the project is favourably located for future production given the immediate access to some of the cheapest electricity in Nevada.About American Lithium Corp.
American Lithium is actively engaged in the acquisition, exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas. The company is currently exploring and developing the TLC 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.For more information, please contact the Company at [email protected] or visit our website at www.americanlithiumcorp.com. Follow us on Facebook, Twitter and LinkedIn.Please watch our corporate video at https://www.americanlithiumcorp.com/our-company/ and review our informative short project update videos and related background information at https://www.americanlithiumcorp.com/projects/tlc-nevada/.On behalf of the Board,American Lithium Corp.
Michael Kobler, Chief Executive OfficerNeither 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.
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