American Lithium Minerals Releases Plans for Development of Its Recently Acquired Borate Hills Properties

HENDERSON, NV–(Marketwire – 03/18/10) – American Lithium Minerals Inc. (OTC.BB:AMLM – News) (www.Americanlithium.com) (the “Company”) announced today the first two phases of its development plan for its recently acquired North and South Borate Hills Projects and highlighted some of the property information. The company is currently seeking strategic partners interested in obtaining North American Lithium supply sourcing.

The first phase of the program will include additional surface sampling, reconnaissance drilling, metallurgical testing and completion of a scoping study. The second phase of the program will include detailed drilling, a continuation of metallurgical test-work, and completion of a pre- feasibility study. Both the first and second phases of the development plan are expected to be completed in approximately 12 months.

Highlights of American Lithium’s Borate Hills Project include:

– Co-product mineral value of both borates and lithium
– Valuation of borates and lithium likely favour economic development of
the project
– US location of the Borate Hills Project is strategic for the
concentration of US manufacturing requiring lithium; including
automobiles, power storage and consumer electronics
– Nevada, the project location, is a known mining state that is
accustomed to mining activity
– The Borate Hills Project location is 30 miles SW of Tonopah with a
driving distance of 50 miles of which 40 miles is along US Route 95
Highway and the remainder on drill roads
– The Borate Hills Project area has excellent road, rail and power
infrastructure
– Known size and extent of the Project favour a very long mine life
– Leached nature of deposit with low iron and “other” minerals and metals
indicate favourable processing
– The Borate Hills Project is 100% owned by American Lithium
– The vendor maintains a 2% Net Revenue Royalty whereby 1% can be
purchased for US $1,000,000 dollars and 1% is uncapped.

Borate Hills Project Summary

The Borate Hills Project consists of the North Borate Hills and the South Borate Hills project areas which cover over 3,400 acres. The Project is located 20 miles west of Chemetall Foote’s Lithium Brine Operation at Clayton Valley; the only operating lithium mine in North America.

The boron and lithium mineralization is contained in a strata-bound formation that is a combination of a claystone unit and a volcanic tuff with no clay. In the 1980’s, US Borax drilled 50,000 feet across 57 separate holes with some holes to a depth of 2,000 feet. Although US Borax initially drilled the North Borate Hills Project, discovery of the South Borate Hills Project in 1986 identified a larger project with higher lithium values. In the late 80’s, US Borax drilled 12 holes across the South Borate Hills project identifying a project larger than the North Borate Hills project given the 1.5 mile extent of the claystone unit with thicknesses up to 1300 feet. At the time, US Borax stated the Project was the second largest boron deposit in the United States after their current producing borate mine, Kramer Borate in California. US Borax owns the historical drill data and results for the Borate Hills Project.

Both the North and South Borate Hills projects have surface exposure and outcrop. Recent surface sampling of the South Borate Hills Project returns boron grades of over 1% B, lithium grades of up to 0.275% Li, and Strontium credits. All other metals concentrations are low, including iron which can be deleterious for processing.