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A Peruvian court confirms the appeal filed against a decision granting ownership of the company to the disputed concession, Canadian Business Journal

Vancouver, British Columbia, November 25, 2021 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or “Company”) (TSX-V: LI | OTCQB: LIACF | Frankfurt: 5LA1) reported on November 25th. In 2021, Peruvian judicial authorities confirmed the appeal of a decision in favor of our Peruvian subsidiary Macusani Yellowcake SAC regarding ownership of 32 of the 151 concessions in dispute in Peru. Announced.

We confirm that the appeal has been filed by INGEMMET (Peruvian Mining and Metallurgical Research Institute) and its parent ministry, MINEM (Ministry of Mines and Energy), as previously reported. Additional details about which aspect of the judgment are being appealed are currently unavailable.

As we reported on November 3, 2021, the presiding judge’s strong and decisive decision to regain ownership of the 32 concessions contested by INGEMMET was announced in Court SALA 6 and November 2021. Published digitally on the afternoon of the 2nd of March (link: Spain’s decision here). We have obtained an official English translation of the Judiciary Resolution. This can be found here (link: official English translation).

Simon Clarke, CEO of American Lithium, said: The judgment and appeal will not be successful. The ruling is a major step forward in this process and gives confidence that common sense will spread. We continue to drive drill rig mobilization to begin the next phase of development and exploration drilling in and around the Falchani Lithium and Maxaniuran projects. “

AbAmerican lithium

American Lithium, a member of TSX50, is actively engaged in the acquisition, exploration and development of lithium projects within the mining jurisdiction of the Americas. We are currently continuing to investigate and develop the strategically located TLC Lithium Clay Stone Project in the abundantly mineralized Esmeralda Lithium area of ​​Nevada, and continue to promote the development of Falchani Lithium and Maxani uranium. Through, we are focused on enabling the transition to a new energy paradigm. A project in southeastern Peru. Both Falchani and Macusani have undergone preliminary economic evaluations, showing the potential for powerful additional exploration and are located near critical infrastructure.

TSX Venture 50 is the ranking of top performers in each of the five industry sectors of last year’s TSX Venture Exchange.

For more information, please contact us at info @ americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com for project update videos and related background information.

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On behalf of the Board of Directors of American Lithium Corp.

“Simon Clarke”

CEO and director

Tel: 604 428 6128

For more information, please contact:

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this press release.

Precautions regarding future prospects

This news release contains specific forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of the applicable securities law. All statements except historical facts are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the ability to appeal to judicial decisions and other statements regarding American Lithium’s business plans, expectations, and objectives. Forward-looking statements are “may,” “do,” “plan,” “expect,” “expect,” “estimate,” “intend,” “show,” and “planned.” It is often identified by words such as “is” and “goal”. , “Goals”, “Potential”, “Subjects”, “Efforts”, “Options”, or their negative implications. Refers to future events and consequences. Forward-looking statements are based on current opinion and management’s expectations do not guarantee or cannot guarantee future outcomes or events. American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on the information available at that time, while American Lithium does. We should not place excessive reliance on forward-looking statements as we cannot guarantee opinions or expectations. It proves to be correct. All forward-looking statements are inherently uncertain and are subject to various assumptions, risks, and uncertainties, including the risks, uncertainties, and assumptions associated with: The risks and uncertainties associated with the COVID-19 pandemic, and the measures taken by the Government and its agencies, American Lithium, or others to reduce the COVID-19 epidemic, affect American Lithium and have a significant negative impact. Scope and methods that may result, including, but not limited to, the ability of employees or consultants to access mineral properties for uncertain times, delays or diminished capacity, and social or political instability in Peru. Impact of Lithium on Many Aspects of America’s Business Impact on American Lithium’s ability to maintain continuity of business operating requirements reduces the availability or disruption of various local governments and critical infrastructure, the potential of American Lithium There may be diminished demand for products, availability of materials, global travel restrictions, and availability. Insurance and related costs; the judicial appeal process in Peru, and all future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title of 32 concessions. Risks associated with the ongoing Ontario Securities and Exchange Surveillance Procedures. Continued ability to work with stakeholders, including but not limited to communities and governments at all levels. Possibility of delay in exploration or development activities due to COVID-19 pandemic. Interpretation of drilling results, geology, deposit grade and continuity. Future exploration, development, or mining results may not meet our expectations. The risk that the permit will not be obtained as planned, or the risk that the permit will be delayed. Risks of mining and development, including risks associated with accidents, equipment failures, labor disputes (including work outages, strikes, loss of personnel), or other unexpected difficulties or interruptions in exploration and development. Risks associated with fluctuations in commodity prices and foreign exchange rates. Risks related to overseas business. The cyclical nature of the industry in which American Lithium operates. Risks associated with not being able to raise adequate funding in a timely and acceptable manner, or with delay in obtaining government approval. Risks associated with environmental regulation and liability. Political and regulatory risks associated with mining and exploration. With the risks associated with the uncertain global economic environment and its impact on the global market in general, and the COVID-19 pandemic measures taken to reduce the prevalence of COVID-19, all of these include: It may continue to have a negative impact on financial markets. The transaction price of American Lithium shares, which can adversely affect American Lithium’s ability to raise funds and may pose additional unknown risks or liabilities to American Lithium. Other risks and uncertainties associated with American Lithium’s outlook, characteristics, and business strategy can be found in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis, submitted January 19, 2021, in the American Lithium’s Management’s Discussion. Identified in the Risk Factors section. And the analysis was submitted on January 29, 2021 and is available at www.sedar.com for recent securities filings. Actual events or consequences may differ materially from those predicted in the forward-looking statements. American Lithium undertakes no obligation to update any forward-looking statement, except as required by applicable securities law. Investors should not place excessive reliance on forward-looking statements. Notes on Macusani Concessions 32 of the 151 concessions held by Macusani, a subsidiary of American Lithium, are currently in Peru’s administrative and judicial process to overturn resolutions issued by the INGEMMET and MINEM mining councils. And it is the target of “process”). In February 2019 and July 2019, respectively, we declared that the title of Maxani for 32 concessions was invalid due to the delay in receiving annual validity payments. In November 2019, Macusani filed an injunction relief for 32 concessions in a court in Lima, Peru, for 17 concessions, including three of the four concessions included in the Macusani Uranium Project PEA. I succeeded in getting an injunction like this. The granting of precautionary measures (Medida Cautelar) regained ownership, rights, and validity of these 17 concessions to Maxani until a final decision was made at the final stage of the judicial process. A precautionary measure was filed simultaneously for the remaining 15 concessions, which was finally approved by a court in Lima, Peru on March 2, 2021, and the title, rights, and validity of the remaining 15 concessions to Macusani. Has also recovered. As a result, all 32 concessions are protected by precautions (Medida Cautelar) until a final decision on this issue is reached at the final stage of the judicial process. The lucrative judge’s decision confirming ownership of all 32 concessions represents the final stage of the current judicial process. However, this ruling may be appealed within 5 business days. American Lithium has no guarantee that an appeal will be filed or will not be filed soon, nor is there any potential consequence of such an appeal.


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A Peruvian court confirms the appeal filed against a decision granting ownership of the company to the disputed concession, Canadian Business Journal

Source link A Peruvian court confirms the appeal filed against a decision granting ownership of the company to the disputed concession, Canadian Business Journal

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