SOURCE: American Lithium Minerals, Inc.

American Lithium Minerals, Inc.

March 09, 2010 08:00 ET

The Honourable J. Trevor Eyton Joins American Lithium Minerals as Chairman of the Board to Guide Emergent Lithium Entity

HENDERSON, NV--(Marketwire - March 9, 2010) - American Lithium Minerals, Inc. (OTCBB: AMLM) (www.Americanlithium.com) (the "Company") announced today the appointment of the Honourable J. Trevor Eyton as Chairman of the Board.

"There is no better person I can think of to ensure American Lithium Minerals has a future than Senator Eyton," stated President and CEO Hugh Aird. "Trevor Eyton has a remarkable track record of building Brascan Ltd. (now Brookfield Asset Management Inc.) and other significant public companies, which combined with his experience serving on the boards of such corporations as Coca-Cola Enterprises (Atlanta), General Motors of Canada, and Nestle Canada will help solidify American Lithium Minerals' position as one of the important lithium holding companies in North America. I look forward to working with Trevor."

Senator Eyton, a recently retired Canadian Senator, is considered one of North America's business leaders with key involvements in business as diverse as the Toronto Blue Jays, Labatt Breweries, Noranda Inc., Trilon Financial, London Life, MacMillan Bloedel, Royal Trustco and Trizec. Senator Eyton is a Governor of the Canadian Olympic Foundation and serves as Honorary Chairman of Canada's Sports Hall of Fame. 

Additionally the company announced the board resignations of Matthew Markin (former Chairman) and Dave Clark. Mr Markin remarked, "It is an honour to welcome Mr. Eyton as the new Chairman of the Board, and in stepping down as Chairman at this time I am proud of all we have accomplished and excited for what the future holds for American Lithium Minerals."

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