FALCHANI LITHIUM PROJECT, PERU
PROJECT OVERVIEW
Our advanced-stage Falchani project is the 6th largest hard-rock lithium deposit in the world. It benefits from a highly sustainable business model in a geopolitically “friendly” jurisdiction.
Base Case
PROJECT HIGHLIGHTS
4.7 Years Payback
IRR 19.7% (after-tax using USD$12k/t Li2Co3 selling price)
Low CapEx
High Cash Flow
US$430M average annually

From the Falchani 2023 Mineral Resource Estimate – See October 31st, 2023 News Release
- Low second quartile operating costs (per Benchmark Mineral Intelligence)
- Scalable, 33-year mine life producing battery-grade lithium carbonate (“Li2CO3”)
- Estimated to be 6th largest hard rock lithium deposit globally*
- Resource estimate** based on only ~30% of target area
*Based on the Company's review of publicly available information as at March 2019
**NI 43-101 report titled the “Falchani Lithium Project NI 43-101 Technical Report – Preliminary Economic Assessment” prepared by John Joseph Riordan, David Thompson, Valentine Cotzee of DRA Pacific and Mr. Stewart Nupen of The Mineral Corporation
- Robust metallurgical testing indicates conventional processing will produce a high purity battery grade (>99.5%) lithium carbonate
ADVANTAGES
Exploration Advantages
Quelcaya Target
- Outcrop mapping and sampling ~6 km west of Falchani deposit
- 1.5 km mapped extent; sampling average grade of 2,986 ppm Li
Tres Hermanas
- Three ridges of outcropping Li-rich tuff, interpreted as tilted upright compared to relatively horizontal at Falchani East and West
- Each ridge estimated at ~80m high x ~750m long east-west
- Surface samples up to 4,452 ppm Li, trenching in progress
Regional Targeting
- 6 km by 5 km interpreted collapsed caldera setting as target for future exploration
- ~ 20 km West, multiple surface samples up to 5,100 ppm Li from large Li-rich tuff outcrop
MINERAL RESOURCES
In October 2023, American Lithium released an updated Mineral Resource Estimate (“MRE”) that increased the projects Measured & Indicated (“M&I”) Lithium Resources by 476% relative to the previous MRE released in 2019, making Falchani one of the largest hard-rock lithium projects globally.
Minor discrepancies due to rounding may occur. Cut-off 600 ppm Li Tonnes are Metric Li Conversion Factors as follows: Li2CO3:Li ratio = 5.32, LiOH.H2O:Li ratio =6.05. Geological losses of 5% or 10% have been applied, based on geological structure and data density. The average geological loss is 6%.
Updated NI 43-101 Report to be released within 45 days of the Mineral Resource Estimate being published (October 31st, 2023)