DGAP-News: American Lithium Confirms TLC Project Discovery with Latest High-Grade Results

Vancouver, British Columbia--(Newsfile Corp. - April 3, 2019) - American Lithium Corp. (TSXV: LI) (OTCQB: LIACF) (FSE: 5LA) ("American Lithium" or the "Company") a leading acquisition, exploration and development operator is extremely pleased to announce outstanding assay results from the latest three drill holes on it's growing TLC lithium claystone project located just outside the mining centre of Tonopah, Nevada.

Highlights

• Grade and thickness consistent with results of TLC-1901 discovery hole reported March 19, 2019
• Consistent grades over wide down hole intervals
• Extends know mineralization to over 1km (0.6 miles) strike and open to expansion
• The TLC claim package has been expanded to the North, South and the West
• 14 additional drill holes and respective assays are pending with further results anticipated within two weeks.

Table 1

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Mike Kobler, CEO of American Lithium, notes, "The high-grade lithium mineralization confirmed in these three drill holes is consistent with the grades and interval widths identified in our discovery drill hole. With confirmed grades at over 1 km in strike length we are now looking to step out further for drill results to 2.5 km and beyond. These results clearly support and validate our surface sampling and further demonstrate the potential for the TLC project to host a significant lithium sedimentary deposit across much, if not all of the project area."

Drill holes TLC-02, 03, and 04 all have shallow depths to mineralization and significant uniformly continuous mineralization as shown below:

Table 2

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A map indicating the locations of the 18-hole drill program is available at: https://www.americanlithiumcorp.com/projects/tlc-nevada/.

The TLC claystone target is defined as a near-surface, relatively flat laying, free digging lithium target which is easily accessible by road and only 12 miles from the mining center of Tonopah, Nevada. It's also just south of the Crescent Dunes Solar Energy Plant and source of the cheapest electricity in Nevada. Fourteen (14) additional drill targets are at varying stages of activity with another round of at least four (4) additional assay results due within the next two weeks. Additional results will aid in the determination of area-wide grade and thickness for project valuation purposes. Company management looks forward to providing further results as they become available.

QA/QC Statement

Drilling was conducted by Harris Exploration Drilling and Associates Inc., of Fallon, Nevada utilizing a "1500 Explorer" reverse circulation rig with a 5 ½ diameter hole with face centred bit. Sampling was conducted using a riffle splitter or a cyclone splitter depending on the moisture content of the sampled material. Sampling was conducted over 5-foot (1.52m) intervals. Sample custody was maintained by the company's consultants throughout the sampling and logging process. The company has a rigorous QA/QC program utilizing blanks, duplicates and a high and a low-grade lithium standard material. Duplicates and standard material are inserted into the sample stream on a 5% and 5% basis, and blank material was inserted into the sample stream. Samples were sent to American Assay Laboratories in Sparks Nevada for analysis utilizing the ICP-MS analysis protocol. Selected check assays samples were sent to the Bureau Veritas in Reno/Vancouver for analysis by ICP-MS.

About American Lithium Corp. (TSXV: Li) (OTCQB: LIACF) (FSE: 5LA)

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 its TLC and FLV Projects located in the highly prospective Esmeralda Lithium District in Nevada. These projects, within 48 km (30 miles) of each other, are close to infrastructure, 3.5 hours south of the Tesla Gigafactory, and similar mineralization characteristics as Albemarle's Silver Peak Lithium Mine, and the advancing deposits and resources including Ioneer Inc.'s (formerly Global Geosciences) Rhyolite Ridge and Cypress Development Corp's Clayton Valley Project.

The technical information within this news release has been reviewed and approved by Michael Collins, P.Geo., a consultant to the Company and a qualified person under National Instrument 43-101.

American Lithium is a Venture 50 company. 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.

On behalf of the Board,
American Lithium Corp.

Michael Kobler,
Chief Executive Officer

Neither 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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