Critical Mineral Resource at Falchani Exceeds 400,000 t Cesium (M+Ind) Within Existing Lithium Resource

Executive Summary

• American Lithium disclosed a world‑class cesium resource within its Falchani hard‑rock lithium deposit and announced successful test work demonstrating commercial‑scale recovery of a mixed cesium sulfate product (~18 % Cs) and high‑purity sulphate of potash (SOP).
• Process‑flow optimizations—including 50 % acid stream recycling and counter‑current leaching—cut sulfuric acid consumption by ~50 % and maintain strong lithium (88 %) and cesium (85 %) recoveries, improving project economics.
• The updated mineral resource estimate (effective 30 Oct 2023) totals 953 Mt of material with measured, indicated and inferred cesium resources exceeding 1 million tonnes of Cs, positioning Falchani as a strategic North‑American source of this critical mineral.

Key Details

• Cesium Resource Estimate (as of 30 Oct 2023)
• Measured: 69 Mt @ 631 ppm Cs → 43,539 t Cs
• Indicated: 378 Mt @ 1,039 ppm Cs → 392,742 t Cs

• Inferred: 506 Mt @ 778 ppm Cs → 393,668 t Cs

• Processing Test Results (ANSTO labs & TECMMINE pilot work)

• Produced saleable mixed cesium sulfate (~18 % Cs).
• Generated high‑purity SOP containing ~45 % K at low temperature after cesium precipitation.

• Lithium carbonate purity >99.5 % (battery grade).

• Flow‑sheet Improvements

• Acid recycling: 50 % of acid streams reused, maintaining Li 88 %, Cs 85 %, K 35 % recoveries.
• Counter‑current leaching reduces sulfuric acid use to ~240 kg/t (≈50 % lower than Feb 2024 PEA).

• Anticipated additional cost savings from reduced reagent demand, smaller gypsum waste, and lower tailings handling costs.

• Pilot Plant Timeline

• TECMMINE in Lima testing new component equipment; pilot plant phase expected to start within a few months.

• Strategic Implications

• Falchani’s cesium by‑product could help meet Peru’s domestic SOP demand and enable export opportunities.

• Enhances North American supply chain security for a U.S. critical mineral (cesium).

• Qualified Person Review

• Ted O’Connor, P.Geo., Director of American Lithium, reviewed and approved all scientific and technical information per NI 43‑101 standards.

Notable Quotes

“The proven ability to process Falchani’s volcanic lithium rocks into battery‑grade lithium carbonate, cesium sulfate, and SOP demonstrates extensive technical progress… future Falchani operations could help meet domestic demand while also supporting exports.” – Alex Tsakumis, Interim CEO, American Lithium.