$LI.V News - American Lithium Announces Exploration Permits to Commence Phase 2 Drill Program in Northern Fish Lake Valley Lithium Brine Project

On track to commence Phase 2 Exploration Drill Program in 2H 2016, with permits for 13 drill holes - Follow-up to NI 43-101 Technical Report, Fish Lake Valley Lithium-Brine Property, November 30, 2015

- VANCOUVER, - (http://www.financialnewsmedia.com News Alert) - American Lithium Corp. (TSXV:LI.V) (\"American Lithium\" or the \"Company\"), is pleased to announce that its wholly owned subsidiary 1032701 B.C. (\"1032701\"), has received a notice-of-intent exploration work permit from the Bureau of Land Management to conduct a Phase 2 exploratory drilling program at its 7,840 acre (3,172.7 hectare) North Bowl Playa lithium brine project in Fish Lake Valley, Esmeralda County, Nevada (see Company\'s news release dated April 7, 2016).



\"The geological setting at Fish Lake Valley is highly analogous to the salars of Clayton Valley, where Albemarle has its Silver Peak lithium-brine operation,\" commented Michael Kobler, CEO of American Lithium. \"Over the past 6 years, previous operators have been investigating the Company\'s North Bowl Playa, Fish Lake Valley lithium brine property. A National Instrument 43-101 report titled Technical Report, Fish Lake Valley Lithium-Brine Property, Esmeralda County, Nevada, was completed on the property in November 2015. The purpose of our Phase 2 exploration drill program is to test several potential brine lithium targets identified in the Phase 1 Exploration Program which included surface brine sampling, gravity geophysics and 3,545 feet (1080 meters) of shallow auger and direct push drilling within 41 holes at 25 sites ranging from 42 feet to 150 feet in depth. We also plan to do more high density gravity surveys to better define the subsurface structure and shallow auger brine test holes across the entire holding.\"



The Company intends to contract an exploration drilling company to complete up to 13 drill holes to approximately 500ft in depth to firm up its North Bowl Playa shallow prospect as part of its Phase 2 exploratory drill program.



Phase 1 Exploration Program Results

A number of geochemical and geophysical studies were completed on the property, along with a short drill program conducted on the periphery of the playa in the fall of 2010. Near-surface brine sampling during the spring of 2011 outlined a boron/lithium/potassium anomaly on the...