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Saturday, July 24, 2021

Stonewall Flat Lithium Project; the Run on American Lithium Minerals Inc (OTCMKTS: AMLM)

American Lithium Minerals Inc (OTCMKTS: AMLM) has been on a swift rise in recent months from well under a penny to recent highs of $0.7315. With just 44 million unrestricted shares the stock moves quickly rocketing up on Friday on over $5 million in dollar volume. While the Company has not issued a press release in years, they have been getting their filings up to date, recently submitting an attorney’s letter to Otcmarkets where the Company is now classified as “pink current.”

Management has been busy behind the scenes; late last year the Company entered into an Earn-In Agreement with Altair International Corp. under which Altair must make total payments of $75,000 to obtain a 10% undivided interest in 63 unpatented placer mining claims comprised of approximately 1,260 acres in Nevada, commonly known as the Stonewall Flat Lithium Project.

American Lithium Minerals Inc (OTCMKTS: AMLM) is engaged in mineral exploration for lithium and rare earth minerals (REE) in Nevada and Arizona, U.S.A. The Stonewall Flat Lithium Project, located south of Goldfield, Nevada, is the subject of a recently announced joint venture. The West End Lithium Project and the Silver Peak Lithium Project are both located near Tonopah, Nevada. The Company is presently planning one or more Lithium Complexes, to be located in Northern Nevada and / or in the Midwest United States. The Lithium Complexes are intended to process high-grade lithium ore, assemble lithium-ion batteries from cells and recycle spent lithium-ion batteries.

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On November 23, 2020, American Lithium Minerals, Inc. (“AMLM”) entered into an Earn-In Agreement with Altair International Corp. (“Altair”). under which Altair must make total payments of $75,000 to obtain a 10% undivided interest in 63 unpatented placer mining claims comprised of approximately 1,260 acres in Nevada, commonly known as the Stonewall Flat Lithium Project. The $75,000 has been paid by Altair. Altair has the option to increase its ownership interest by an additional 50% by a total payment of $1,300,648 for exploration and development costs as follows: $100,648 within year one for an additional 10/%, $600,000 in year two for an additional 20% and $600,000 in year three for an additional 20% ownership interest. The foregoing description of the Earn-In Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement which is filed as Exhibit A to this Supplemental Information Report.

 

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AMLM has been on a swift rise in recent months from well under a penny to recent highs of $0.7315. With just 44 million unrestricted shares the stock moves quickly rocketing up on Friday on over $5 million in dollar volume. While the Company has not issued a press release in years, they have been getting their filings up to date, recently submitting an attorney’s letter to Otcmarkets where the Company is now classified as “pink current.” Management has been busy behind the scenes; late last year the Company entered into an Earn-In Agreement with Altair International Corp. under which Altair must make total payments of $75,000 to obtain a 10% undivided interest in 63 unpatented placer mining claims comprised of approximately 1,260 acres in Nevada, commonly known as the Stonewall Flat Lithium Project. We will be updating on ALML when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ALML.

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Disclosure: we hold no position in AMLM either long or short and we have not been compensated for this article

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