LAKE TAHOE, NV., March 22 /PRNewswire-FirstCall/ -- AmeriLithium (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce it has recently executed a definitive agreement thereby acquiring a 100% NRI (Net Revenue Interest) in the assets of the Wagin Salt Lakes Property in Wagin, Western Australia.
AmeriLithium''s Australian plays sit upon a vast area of lithium rich land located in the state of Western Australia. Spread over 43,000+ Acres, The Wagin Salt Lakes property is made up of 3 projects being, Bare Rock Project, Nomans Lake Project and the Hoffmans Hill Project. The three projects lie within the South West Mineral Field, an area identified as being rich in brine deposits and a key site for global lithium extraction.
The Bare Rock project covers a salt lake system immediately east of and abutting Lake Dumbleyung where there has been a presence of salt lake brine with a Lithium concentration of 530 mg/litre (530 ppm).(1) All 3 project areas are considered to be prospective for lithium brines.
AmeriLithium''s Wagin Salt Lakes Property comprises of 55 graticule blocks. All are within areas of significant potential for lithium brine extraction, being placed upon salt lake systems with high soluble lithium values of up to 530mg/l (equivalent to 5.1kg of lithium carbonate per cubic meter of brine)(1) and extremely favorable drainage systems. This puts the area on a level with the world''s largest lithium deposits in South America, making it an extremely significant site for the global lithium industry. It is also worth noting that North America''s only lithium brine operation - Chemetall Footes Silver Peak play - originally began operation at 400mg/l.
Thanks to legislative change and a pro-mining stance from the Australian government as well as its geographical proximity to the Asian markets, AmeriLithium is well placed to capitalize on this new demand for production and supply of lithium. Australian infrastructure allows for easy export to the developing Chinese market, whose manufacturing economy accounted for around 1/3 of lithium demand in 2008. In 2009, world sales of mobile phones - a major usage of lithium batteries - was estimated at one billion units, around 600 million of which were produced in China. And with an ever-expanding consumer electronics industry manufacturing cameras, laptops, games consoles and hybrid motor vehicles, China''s multi-billion dollar market represents an unparalleled opportunity for lithium export.
Matthew Worrall, CEO of AmeriLithium, commented on the Company''s latest acquisition by stating, "The Australian property adds a whole new dimension to AmeriLithium''s corporate strategy. Thanks to our interest in this mineral-rich region of Australia and its geographical location, AmeriLithium stands to be a major player in one of the world''s most significant new discoveries on the lithium extraction landscape, and gives us the opportunity to capitalize on the major demand for Lithium from the massive developing Asian markets. It is with this kind of diversity that AmeriLithium will become a major force in the extraction and supply of Lithium, enabling our company to supply the rapidly growing market for this valuable resource."
More information on AmeriLithium''s Wagin Salt Lakes Property, and additional information regarding the company and both Its Nevada and Alberta, Canada properties, can be found at AmeriLithium''s corporate website http://www.amerilithium.com/ along with the facility to sign up for regular news updates.
ABOUT LITHIUM: Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; the aviation industry uses lithium in alloys. Of particular interest is the use of lithium for battery production, which has expanded significantly in recent years due to rechargeable lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market. Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity lithium-ion batteries as environmentally-friendly fuel alternatives while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on lithium-ion batteries.
ABOUT AMERILITHIUM: AmeriLithium is a publicly traded (NASD OTC BB: AMEL), mining company committed to progressively developing into one of the leading American players in the global lithium industry. The Company is headquartered in Lake Tahoe, NV. AmeriLithium has amassed a lithium portfolio consisting of ~710,000 acres, including a Nevada-based project adjacent to the only lithium producing plant in the US, a large project in Alberta, Canada and a project in Western Australia.
ON BEHALF OF THE BOARD OF DIRECTORS, AmeriLithium Corp. Matthew Worrall, Chief Executive Officer Contact: AmeriLithium Corp. 297 Kingsbury Grade Lake Tahoe Douglas County NV 89449-4470 Phone: (775) 996-2210 Fax: (775) 996-2212 Email: info@amerilithium.com INVESTOR RELATIONS: Toll Free: 1-888-982-6374 Email: ir@amerilithium.com
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. AmeriLithium Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to AmeriLithium Corp.''s anticipated financial performance, business prospects, new developments, strategies and similar matters. AmeriLithium Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
(1) Reward Minerals Press Release - August 26 2009
AmeriLithium Corp.
CONTACT: AmeriLithium Corp., +1-775-996-2210, fax, +1-775-996-2212,
info@amerilithium.com, or Investor Relations, 1-888-982-6374,
ir@amerilithium.com
Web Site: http://www.amerilithium.com/
