American Lithium Announces CEO Appointment

Executive Summary

• Alex Tsakumis appointed Chief Executive Officer of American Lithium Corp., effective January 29, 2026.
• Board approved cancellation of 1,835,800 stock options previously granted under the Omnibus Incentive Plan.
• The appointment follows a period in which Tsakumis, as Interim CEO, oversaw an oversubscribed financing, governance enhancements, cost reductions, processing optimizations in Peru, acquisition of additional water rights in Nevada, and resolution of disputed Peruvian assets.

Key Details

• CEO Appointment: Alex Tsakumis, interim CEO since September 1, 2024 and board member since 2021, becomes permanent CEO on January 29, 2026.
• Professional Background: Over 30 years in mineral resources; senior roles at Prime Mining Corp., Alio Gold/Timmins Gold, Orko Silver; expertise in corporate governance, finance, M&A, and investor relations.
• Board Statement: Executive Chairman Andrew Bowering highlighted Tsakumis’s leadership and progress during the interim period.
• Option Cancellation: Effective January 27, 2026, cancellation of 1,835,800 stock options granted on February 16, 2022 (exercise price $3.63) and February 2, 2023 (exercise price $4.85), expiring February 16, 2027 and February 2, 2028 respectively.
• Milestones Under Interim CEO:
• Completed an oversubscribed financing round.
• Implemented stronger corporate governance measures.
• Streamlined operating and corporate costs.
• Optimized processing flow sheets at the Peru project.
• Secured additional private water rights in Nevada.
• Resolved disputed assets in Peru.

Notable Quotes

• “Since assuming the Interim CEO role, Alex has demonstrated leadership and delivered meaningful progress while guiding the Company through a period of transition.” – Andrew Bowering, Executive Chairman.