THIS WEBSITE (THE “WEBSITE”) WAS PREPARED AS A SUMMARY
OVERVIEW ONLY OF THE CURRENT AFFAIRS OF AMERICAN LITHIUM CORP. (“AL” OR
“AMERICAN LITHIUM”) AND ITS SUBSIDIARIES, INCLUDING WITHOUT LIMITATION, PLATEAU
ENERGY METALS INC. (“PLU”, WITH AL, PLU AND THE OTHER SUBSIDIARIES TOGETHER
REFERRED TO AS, THE “COMPANIES”) AND WAS NOT PREPARED FOR THE PURPOSE OF
ASSISTING PROSPECTIVE INVESTORS IN MAKING A DECISION TO INVEST IN ANY
SECURITIES OF THE COMPANIES. THE COMPANIES DO NOT MAKE ANY REPRESENTATION AS TO
THE COMPLETENESS, TRUTH OR ACCURACY OF THE INFORMATION CONTAINED IN THIS
PRESENTATION. THE COMPANIES EXPRESSLY WARN READERS NOT TO RELY ON THE
INFORMATION HEREIN FOR INVESTMENT OR OTHER RELATED PURPOSES. ACCORDINGLY,
ANY USE OF THIS INFORMATION IS AT YOUR RISK AND WITHOUT LIABILITY TO THE
COMPANIES NOR ANY OF THEIR ADVISORS, AGENTS OR REPRESENTATIVES. THE
INFORMATION CONTAINED HEREIN IS NOT AND SHOULD NOT BE CONSTRUED AS EITHER A
PUBLIC OR PRIVATE OFFER OR SOLICITATION TO PURCHASE SECURITIES IN THE CAPITAL
STOCK OF THE COMPANIES, NOR AS LEGAL, FINANCIAL, OR TAX ADVICE. THE READER IS
REFERRED TO HIS/HER/ITS PROFESSIONAL LEGAL, FINANCIAL AND TAX ADVISORS
REGARDING INVESTMENT RELATED DECISIONS RESPECTING THE SECURITIES OF THE COMPANIES.
NO SECURITIES REGULATORY AUTHORITY OR SIMILAR AUTHORITY HAS REVIEWED OR IN ANY
WAY PASSED ON THE ACCURACY OR ADEQUACY OF THIS PRESENTATION. ANY REPRESENTATION
TO THE CONTRARY IS CRIMINAL OFFENSE.
QUALIFIED PERSON AND TECHNICAL REPORTS
The scientific and technical
information contained in this Presentation has been reviewed and approved by
Ted O’Connor, a Director of AL, who is a Qualified Persons as defined in
National Instrument 43-101.
Certain scientific and technical information with respect to the TLC Property
contained in this Presentation has been taken from the technical report
entitled “Tonopah Lithium Claims Project NI 43-101 Report – Preliminary Economic Assessment” dated March 17, 2023 with an effective date of January 31, 2023 which was prepared by DRA Global and Stantec, a copy of which is available on American Lithium’s SEDAR
profile at www.sedar.com. Certain scientific and technical information
with respect to: (a) the Falchani Project contained in this Presentation has
been taken from the technical report entitled “Falchani Lithium Project NI
43-101 Technical Report – Preliminary Economic Assessment” with an effective
date of February 4, 2020 and prepared by John Joseph Riordan, David Alan
Thompson, Valentine Eugene Coetzee and Stewart Nupen of DRA Pacific.; and (b)
the Macusani Project contained in this Presentation has been taken from the
technical report entitled “Macusani Project, Macusani, Peru, NI 43-101 Report –
Preliminary Economic Assessment” with an effective date of January 12, 2016 and
prepared by Michael Short and Thomas Apelt of GBM Minerals Engineering
Consultants Limited, David Young of The Mineral Corporation and Mark Mounde of
Wardell Armstrong International Limited, copies of both of which are available
on PLU’s SEDAR profile at www.sedar.com. The preliminary economic
assessments included herein are preliminary in nature and include inferred
mineral resources that are considered too speculative geologically to have the
economic considerations applied to them that would enable them to be categorized
as mineral reserves, and there is no certainty that the preliminary economic
assessments will be realized. Additional work is required to upgrade the
mineral resources to mineral reserves. In addition, the mineral resource
estimates could be materially affected by environmental, geotechnical,
permitting, legal, title, taxation, socio-political, marketing or other
relevant factors. All figures are reported in US dollars (“$”), unless
otherwise noted. Economic highlights represent the Companies’ 100% interest in
the projects.
FORWARD-LOOKING INFORMATION
This Website contains
certain forward-looking information and forward-looking statements
(collectively “forward-looking statements”) within the meaning of applicable
securities legislation. All statements, other than statements of historical
fact, are forward-looking statements. Forward-looking statements are
frequently identified by such words as “may”, “will”,
“plan”, “expect”, “anticipate”, “estimate”,
“intend”, “indicate”, “scheduled”, “target”, “goal”, “potential”,
“subject”, “efforts”, “option” and similar words, or the negative connotations
thereof, referring to future events and results. Forward-looking statements in
this Presentation include, but are not limited to: statements regarding the business,
operations, outlook and financial performance and condition of the Companies;
plans, objectives and advancement of the TLC Property, Falchani Project and
Macusani Project (the “Projects”); exploration drilling plans, in-fill and
expansion drilling plans and other work plans and exploration programs to be
conducted; results of exploration, development and operations; expansion of
resources and testing of new deposits; environmental and social community and
other permitting; timing, type and amount of capital and operating and
exploration expenditures; estimation of mineral resources and mineral reserves;
preliminary economic assessments, including the assumptions and parameters upon
which they are based; development and advancement of the Projects; treatment
under regulatory regimes; ability to realize value from the Companies’ assets;
any other statements regarding the business plans, expectations and objectives
of the Companies; and any other information contained herein that is not a
statement of historical fact.
Forward-looking statements are
based on management’s reasonable estimates, expectations, analyses and opinions
at the date the information is provided, and is based on a number of
assumptions and 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. Assumptions upon which such
forward-looking information are based include, without limitation, that no
significant event will occur outside the ordinary course of business of the
Companies; legislative and regulatory environment; impact of increasing
competition; current technological trends; price of lithium, uranium and other
metals; costs of development and advancement; anticipated results of
exploration and development activities; the ability to operate in a safe and
effective manner; and the ability to obtain financing on reasonable terms.
Readers are cautioned that the foregoing list is not exhaustive. Further, the aforementioned
assumptions may be affected by the negative disruptive effect of the novel
coronavirus (“COVID-19”) pandemic, which has resulted in a widespread health
crisis that has affected the economies and financial markets of many countries
around the world. The international response to the spread of COVID-19 has led
to significant restrictions on travel; temporary business closures;
quarantines; global stock market and financial market volatility; a general
reduction in consumer activity; operating, supply chain and project development
delays and disruptions; and declining trade and market sentiment, all of which
have and could further affect commodity prices, interest rates, credit ratings
and credit risk. The continuing and additional business interruptions, expenses
and delays relating to COVID-19, could have a material adverse impact on the
Companies’ plans, operations, financial condition and the market for its
securities; however, as at the date of this Presentation, such cannot be
reasonably estimated. Although AL believes that the current opinions and
expectations reflected in such forward-looking statements are reasonable based
on information available at the time, undue reliance should not be placed on
forward-looking statements since AL can provide no assurance that such opinions
and expectations will prove to be correct.
—–
All forward-looking statements
are inherently uncertain and subject to a variety of assumptions, risks and
uncertainties, including risks, uncertainties and assumptions related to: the
Companies’ ability to achieve their stated goals, including the the estimated
valuation of the Companies being accurate; the estimated costs associated with
the advancement of the Projects; legislative changes that impact operations of
the Companies; risks and uncertainties relating to the COVID-19 pandemic and
the extent and manner to which measures taken by governments and their
agencies, the Companies or others to attempt to reduce the spread of COVID-19
could affect the Companies, which could have a material adverse impact on many
aspects of the Companies’ businesses including but not limited to: the ability
to access mineral properties for indeterminate amounts of time, the health of
the employees or consultants resulting in delays or diminished capacity, social
or political instability in Peru which in turn could impact AL’s ability to
maintain the continuity of its business operating requirements, may result in
the reduced availability or failures of various local administration and critical
infrastructure, reduced demand for the Companies’ potential products,
availability of materials, global travel restrictions, and the availability of
insurance and the associated costs; risks related to the certainty of title to
the properties of the Companies, including the status of the “Precautionary
Measures” filed by AL’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the
outcome of the administrative process, the judicial process, and any and all
future remedies pursued by AL and its subsidiary Macusani to resolve the title
for 32 of its concessions; the ongoing ability to work cooperatively with
stakeholders, including but not limited to local communities and all levels of
government; the potential for delays in exploration or development activities
due to the COVID-19 pandemic; the interpretation of drill results, the geology,
grade and continuity of mineral deposits; the possibility that any future
exploration, development or mining results will not be consistent with our
expectations; risks that permits will not be obtained as planned or delays in
obtaining permits; mining and development risks, including risks related to
accidents, equipment breakdowns, labour disputes (including work stoppages,
strikes and loss of personnel) or other unanticipated difficulties with or
interruptions in exploration and development; risks related to commodity price
and foreign exchange rate fluctuations; risks related to foreign operations;
the cyclical nature of the industry in which the Companies operate; risks
related to failure to obtain adequate financing on a timely basis and on
acceptable terms or delays in obtaining governmental approvals; risks related
to environmental regulation and liability; political and regulatory risks
associated with mining and exploration; risks related to the uncertain global
economic environment and the effects upon the global market generally, and due
to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any
of which could continue to negatively affect global financial markets,
including the trading price of AL’s shares and could negatively affect the
Companies’ ability to raise capital and may also result in additional and
unknown risks or liabilities to the Companies. Other risks and uncertainties
related to prospects, properties and business strategy of the Companies are
identified in the “Risk Factors” section of AL’s Management’s Discussion and
Analysis filed on June 28, 2022, and in recent securities filings available at
www.sedar.com. Although the Companies
have attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.
The Companies does not undertake to update any forward-looking
statements that are contained herein, except in accordance with applicable
securities laws.
CAUTIONARY NOTE REGARDING
MACUSANI CONCESSIONS
Thirty-two of the 151 concessions
held by American Lithium’s subsidiary Macusani, are currently subject to
Administrative and Judicial processes (together, the “Processes”) in Peru to
overturn resolutions issued by INGEMMET and the Mining Council of MINEM in
February 2019 and July 2019, respectively, which declared Macusani’s title to
32 of the concessions invalid due to late receipt of the annual validity
payments. In November 2019, Macusani applied for injunctive relief on 32
concessions in a Court in Lima, Peru and was successful in obtaining such an
injunction on 17 of the concessions including three of the four concessions
included in the Macusani Uranium Project PEA. The grant of the Precautionary
Measure (Medida Cautelar) has restored the title, rights and validity of those
17 concessions to Macusani until a final decision is obtained at the last stage
of the judicial process. A Precautionary Measure application was made at the
same time for the remaining 15 concessions and was ultimately granted by a
Court in Lima, Peru on March 2, 2021 which has also restored the title, rights
and validity of those 15 remaining concessions to Macusani, with the result
being that all 32 concessions are now protected by Precautionary Measure
(Medida Cautelar) until a final decision on this matter is obtained at the last
stage of the judicial process. The favourable judge’s ruling confirming
title to all 32 concessions from November 3, 2021 represents the final stage of
the current judicial process. However, this ruling has recently been appealed
by MINEM and INGEMMET. American Lithium has no assurance that the outcome of
these appeals will be in the Company’s favour.
FUTURE-ORIENTED FINANCIAL
INFORMATION
To the extent any forward-looking
information in this Presentation constitutes “future-oriented financial information”
or “financial outlooks” within the meaning of applicable Canadian securities
laws, such information is being provided to demonstrate the anticipated market
penetration and the reader is cautioned that this information may not be
appropriate for any other purpose and the reader should not place undue
reliance on such future-oriented financial information and financial outlooks.
Future-oriented financial information and financial outlooks, as with
forward-looking information generally, are, without limitation, based on the
assumptions and subject to the risks set out above under the heading
“Forward-Looking Information”. The Companies’ actual financial position and
results of operations may differ materially from management’s current
expectations and, as a result, the Companies’ valuation may differ materially
from the valuation provided in this presentation. Such information is presented
for illustrative purposes only and may not be an indication of the Companies’
actual financial position or results of operations.
