American Lithium says INGEMMET, MINEM file petitions to Supreme Court of Peru

American Lithium has been notified that INGEMMET and MINEM have filed petitions to the Supreme Court of Peru to assume jurisdiction in the proceedings relating to the title of 32 disputed concessions out of a total of 174 owned by the Company’s subsidiary, Macusani Yellowcake. If jurisdiction is established, INGEMMET and MINEM will attempt to persuade the Supreme Court to overturn the recent Superior Court ruling in favor of Macusani. Key facts: The Supreme Court normally only hears cases where the law is claimed to have been misapplied, where a mistrial has occurred or where a matter of national security is at stake; More than 75% of petitions to the Supreme Court are rejected before being heard because they do not meet the required threshold and the Supreme Court does not assume jurisdiction; In this case: All previous court hearings have been ruled in favor of the Company, including a very strong recent ruling from the Superior Court; The Superior Court unanimously rejected appeals filed by INGEMMET and MINEM in the first instance and refuted all of their arguments; The facts of this case are clear and the Company has never lost title to these “disputed” concessions. The Company believes there are no grounds for the Supreme Court to assume jurisdiction and these petitions should be rejected as soon as possible to mark the end of this case; The Company will take all other appropriate actions necessary to protect its interests; and This dispute relates to approx. 18% of the Company’s total concessions on the Macusani Plateau and it will continue to aggressively develop its projects in any event.