SOURCE: American Lithium Minerals, Inc.

American Lithium Minerals, Inc.

March 18, 2010 08:15 ET

American Lithium Minerals Releases Plans for Development of Its Recently Acquired Borate Hills Properties

HENDERSON, NV--(Marketwire - March 18, 2010) - American Lithium Minerals Inc. (OTCBB: AMLM) (www.Americanlithium.com) (the "Company") announced today the first two phases of its development plan for its recently acquired North and South Borate Hills Projects and highlighted some of the property information. The company is currently seeking strategic partners interested in obtaining North American Lithium supply sourcing.

The first phase of the program will include additional surface sampling, reconnaissance drilling, metallurgical testing and completion of a scoping study. The second phase of the program will include detailed drilling, a continuation of metallurgical test-work, and completion of a pre- feasibility study. Both the first and second phases of the development plan are expected to be completed in approximately 12 months.

Highlights of American Lithium's Borate Hills Project include:

--  Co-product mineral value of both borates and lithium
--  Valuation of borates and lithium likely favour economic development of
    the project
--  US location of the Borate Hills Project is strategic for the
    concentration of US manufacturing requiring lithium; including
    automobiles, power storage and consumer electronics
--  Nevada, the project location, is a known mining state that is
    accustomed to mining activity
--  The Borate Hills Project location is 30 miles SW of Tonopah with a
    driving distance of 50 miles of which 40 miles is along US Route 95
    Highway and the remainder on drill roads
--  The Borate Hills Project area has excellent road, rail and power
    infrastructure
--  Known size and extent of the Project favour a very long mine life
--  Leached nature of deposit with low iron and "other" minerals and metals
    indicate favourable processing
--  The Borate Hills Project is 100% owned by American Lithium
--  The vendor maintains a 2% Net Revenue Royalty whereby 1% can be
    purchased for US $1,000,000 dollars and 1% is uncapped.

Borate Hills Project Summary

The Borate Hills Project consists of the North Borate Hills and the South Borate Hills project areas which cover over 3,400 acres. The Project is located 20 miles west of Chemetall Foote's Lithium Brine Operation at Clayton Valley; the only operating lithium mine in North America.

The boron and lithium mineralization is contained in a strata-bound formation that is a combination of a claystone unit and a volcanic tuff with no clay. In the 1980's, US Borax drilled 50,000 feet across 57 separate holes with some holes to a depth of 2,000 feet. Although US Borax initially drilled the North Borate Hills Project, discovery of the South Borate Hills Project in 1986 identified a larger project with higher lithium values. In the late 80's, US Borax drilled 12 holes across the South Borate Hills project identifying a project larger than the North Borate Hills project given the 1.5 mile extent of the claystone unit with thicknesses up to 1300 feet. At the time, US Borax stated the Project was the second largest boron deposit in the United States after their current producing borate mine, Kramer Borate in California. US Borax owns the historical drill data and results for the Borate Hills Project.

Both the North and South Borate Hills projects have surface exposure and outcrop. Recent surface sampling of the South Borate Hills Project returns boron grades of over 1% B, lithium grades of up to 0.275% Li, and Strontium credits. All other metals concentrations are low, including iron which can be deleterious for processing.


                 B       Li
                ppm      Ppm
              -------   -----
SBH-    111     140     2100
SBH-    112     570     700
SBH-    113   > 10000   2050
SBH-    114     190     125.5
SBH-    115   > 10000   1960
SBH-    116     500     259
SBH-    117     5100    2130
SBH-    118     280     2750
SBH-    119     170     58.3
SBH-    120     200     1750

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. The Company is actively working on the Montezuma Valley, Nevada lithium brine property acquired in 2009. With the United States government's growing interests in domestic production of lithium being such an important component of their green energy plan, it will become more and more advantageous to control significant resources of this particularly important element.

About Lithium

As a result of lithium-ion battery demand for hybrid-electric and electric cars, the increase in demand for lithium carbonate is expected to increase four-fold by 2017. High demand and low supply has already pushed lithium carbonate (Li2CO3) prices to US$6,600.00 per ton. There is currently only one producer of lithium carbonate in the United States, Chemetall's Clayton Valley Operation. The Great Basin of the United States represents excellent potential for the discovery of new lithium brine deposits and American Lithium Minerals is well positioned for detection with its projects. 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.

Forward-Looking Statements

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.

Contact Information

  • For Additional Information, Contact:
    Stephen Cook
    Vice President/Investor Relations
    Tel: 877-717-2656
    E-mail: info@americanlithium.com