SOURCE: American Lithium Minerals, Inc.

American Lithium Minerals, Inc.

November 05, 2009 09:00 ET

American Lithium Minerals Signs Letter of Intent to Acquire Premier Lithium Property in Utah

HENDERSON, NV--(Marketwire - November 5, 2009) - American Lithium Minerals Inc. (OTCBB: AMLM) (the "Company") announced today that it has signed a letter of intent to acquire the Green Energy lithium project in Utah. The project consists of mining claims covering an area of approximately 10 square miles (6,000 acres) and is 100% wholly-owned. High demand and low supply has pushed lithium carbonate (Li2CO3) prices to US$6,600.00 per ton, lithium-ion battery demand for hybrid-electric and electric cars is expected to increase four-fold by 2017.

Lithium occurs at the project over an extensive area with values as high as 1,700 ppm lithium (0.9% Li2CO3) in saturated brine. The brine was discovered in the 1960s when oil exploration wells encountered blow-outs drilling into Bed #31 of the Paradox Formation. The pressurized free-flowing brine interrupted drilling operations and was considered a nuisance, rarely chemically analyzed or flow-rate tested. Over twenty oil exploration wells have been drilled on the Green Energy project; five of these wells have analytical data for lithium. Below is a summary of this data:

Well Name       Lithium (ppm)   Gallons Per Day

WC No.2         1,700           491,000
SNG No.1        500             Adjacent to WC No.2
KO No.2         173             3 Miles North of PO No.1
PO No.1         134             1,356,000
BF No.2         81              50,400

Lithium brine mines are more economic to mine and process than conventional open-pit or underground mines. Given the favorable climate of the area, solar evaporation can be used to concentrate the brine to enhance project economics. World-class lithium brine mines range in grade from 150 ppm to 1,200 ppm lithium and employ proven solar evaporation concentration techniques.

The project is currently being evaluated by American Lithium through all available recent and historic exploration drilling logs. A professional engineering firm will be engaged to evaluate drilling data, reservoir potential and extraction methods at the Green Energy project.

While the Company has no reason to doubt the accuracy of the historical results, the data should not be relied upon until confirmed by the Company's own exploration. Historical results and the work that generated them pre-date the enactment of National Instrument 43-101 and accordingly may not meet the requirements of that policy. There are no 43-101 mineral reserves or mineral resources on the Green Energy lithium project. The potential quantity and grade indicated above is conceptual in nature and has been provided only for illustration purposes.

Additionally the company announced an internal reorganization whereby Mr. Hugh Aird, former Vice-Chairman of Merrill Lynch Canada will move from Vice President of Business Development to CEO. "In this capacity, Hugh Aird can better continue to use his contacts and mergers and acquisitions expertise to the full benefit of the exponential growth of American Lithium Minerals," stated Mr. Matthew Markin, Chairman of the Board. "Judy Baker will continue to concentrate her efforts on development of our premier properties as well as supporting Hugh with our mergers and acquisition plans."

About Lithium

Lithium is used for batteries, specialty glass, lubricants, pharmaceuticals and lithium alloys. Lithium ion (Li-ion) batteries have become the rechargeable battery of choice in cell phones, computers, hybrid-electric cars and electric cars. GM, Ford, Toyota, Dodge, Chrysler, Mitsubishi, Nissan, Tesla, Saturn and Mercedes-Benz have all announced plans to build Li-ion battery-powered cars. Demand for lithium-powered vehicles is expected to increase fivefold by 2012. The domestic automotive industry must secure a lithium source to supply the next generation of hybrid-electric and electric vehicles. Over 60% of cell phones and 90% of laptops use lithium batteries. The worldwide market for lithium batteries is estimated at over $4 billion per year.

About American Lithium Minerals

American Lithium Minerals Inc. is an early stage lithium exploration company engaged in evaluating, developing and acquiring lithium projects, with a focus on the USA.

Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, future prices for lithium carbonate (Li2CO3), that lithium-ion battery demand for hybrid-electric and electric cars is expected to increase four fold by 2012, that demand for lithium-powered vehicles is expected to increase fivefold by 2012, or the existence of any commercially recoverable lithium carbonate on the Green Energy lithium project in Utah.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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