American Lithium Corp. Announces Intention to Advance Spin-Out of Macusani Uranium

American Lithium Corp. announced its intention to advance the spin-out of its Macusani Uranium Project into a standalone uranium company. This strategic move aims to unlock the full value of the asset for shareholders, leveraging the strong uranium market conditions. The company views Macusani as one of the largest undeveloped uranium deposits globally and a potential "company-maker."

In conjunction with the spin-out, American Lithium is advancing technical work at Macusani, including commissioning Deloitte Mining Technical Advisory and DRA Global Limited to prepare a new updated Mineral Resource Estimate (MRE) and a Preliminary Economic Assessment (PEA). Data collection, core analysis, and site visits are complete, with the revised MRE and PEA expected in Q1 2026. The spin-out is in the planning stages and is subject to shareholder and regulatory approvals, as well as the completion of tax and corporate structuring.

This announcement is materially positive for American Lithium Corp. due to several key factors:

1. De-risking and Value Unlocking: The intention to spin out Macusani comes just two weeks after a "Material - Game Changer" Peruvian Supreme Court ruling on December 3, 2025, which definitively secured American Lithium's ownership of 32 disputed mining concessions in Peru, including both the Macusani Uranium Project and the Falchani Lithium Project. This ruling removed a significant long-standing legal and sovereign risk for the company's Peruvian assets. The spin-out now allows the company to capitalize on this de-risking by presenting Macusani as a pure-play uranium asset, likely appealing to a different investor base and potentially achieving a higher valuation than if it remained bundled within American Lithium.
2. Strategic Timing: The spin-out is timed to "leverage strong uranium market conditions," indicating a proactive move to maximize shareholder returns from the asset. A dedicated uranium company can attract specialized uranium investors and potentially secure more favorable financing for its development.
3. Project Advancement: The immediate commencement of technical work for an updated MRE and PEA, with an expected completion in Q1 2026, signals concrete progress. This demonstrates that the company is not just announcing an intention but is actively moving towards the technical de-risking and economic evaluation necessary to make Macusani an attractive standalone entity.
4. Focus for American Lithium: A successful spin-out would allow the remaining American Lithium entity to focus entirely on its substantial lithium assets, particularly the Falchani project in Peru and the TLC project in Nevada. This strategic clarity could also lead to a re-rating of the core lithium business.
5. Market Response: The stock price has shown significant upward movement recently, particularly after the Supreme Court ruling, indicating positive market reception to the de-risking of Peruvian assets. This spin-out news could further fuel investor interest, recognizing the potential for increased value.

However, it is crucial to note the inherent risks: the spin-out is still in the "planning stages" and is subject to "shareholder and regulatory approvals" and "completion of tax and corporate structuring." There is "no assurance that the spin-out will be completed." These conditions introduce execution risk, but the announcement itself, following the legal victory, is a strong positive signal of management's intent to create value.

American Lithium Corp. is a Canadian exploration and development company primarily focused on lithium and uranium projects in Nevada, USA, and Peru. The company's strategy involves advancing its significant critical minerals projects to meet growing demand in the energy transition.

Flagship Projects:

• TLC (Tonopah Lithium Claims) Project, Nevada, USA: This is a large, advanced-stage lithium claystone deposit, recognized as one of the largest known in North America.
  • Development: An updated Mineral Resource Estimate (MRE) in February 2025 reported a significant 47% increase in Measured resources to 6.17 Mt contained LCE.
  • Infrastructure: The company secured a water reservation agreement in September 2025 for its Phase 2 operations, a critical step for future development, and committed $200,000 to the local Tonopah community.
  • Royalties: The company completed a buy-back of the remaining 1% gross overriding royalty on the TLC Project in November 2024, making it royalty-free.
• Falchani Lithium Project, Peru: A hard rock lithium deposit, now confirmed to be fully owned after the recent Supreme Court ruling.
  • Development: October 2025 news highlighted a globally significant cesium resource (over 400,000 t Measured + Indicated) within the existing lithium resource, with potential for cesium and sulphate of potash (SOP) by-product recovery. Optimization work on the processing flowsheet has shown significant acid consumption reductions. A pilot plant phase is expected to commence soon in Lima.
• Macusani Uranium Project, Peru: Described as one of the world's largest undeveloped uranium deposits, this project is also fully secured following the Peruvian Supreme Court ruling.
  • Development: The company recently announced its intention to spin out this project into a standalone entity and is advancing technical work for an updated MRE and PEA, expected in Q1 2026.

Overall Strategy: American Lithium aims to develop these projects to position itself as a key supplier of critical minerals, with a focus on de-risking and optimizing project economics. The recent legal clarity in Peru is a major step forward, and the planned uranium spin-out aims to unlock specific asset value.