AMERICAN SALARS LITHIUM - ASALF STOCK NEWS

American Salars announces significant lithium findings at its Black Rock South project in Nevada. Assay results from 38 soil samples reveal 33 samples with lithium concentrations of 100 ppm or higher, peaking at 180.5 ppm and averaging 131 ppm. This discovery suggests potential lithium brine aquifers at depth. The sampling was executed in a grid pattern across the property, with intervals of 300 meters. Further exploration will include geophysics and deep auger work. CEO Nick Horsley highlights the strategic importance of this discovery, aligning with the company’s broader lithium resource portfolio in Argentina. The Black Rock South project is strategically located near major lithium production sites and the Tesla Gigafactory, enhancing its commercial viability.

American Salars Lithium announces the creation of a new subsidiary in Argentina, American Salars Pocitos SA, to manage the Pocitos 1 lithium project. Located near the township of Pocitos, the project has shown promising results, including a mineral resource estimate (MRE) of 760,000 tonnes of Lithium Carbonate Equivalent (LCE) based on a recent report by WSP Australia. The company plans further drilling based on the successful results from three wells drilled to date. Additionally, American Salars will establish another subsidiary for the Candela II project, which boasts an MRE of 457,500 tonnes of LCE. The CEO emphasizes the importance of this organizational structure for tax efficiency and potential future development. The aim is to meet the growing demand for battery metals in the electric vehicle market.

American Salars has confirmed that the ALS Geochemistry Laboratory in Reno, Nevada, has received 121 samples from its Black Rock South Lithium Brine Project. The samples will undergo rigorous analysis to determine lithium content. The Black Rock South project is strategically located near other notable lithium sites, including Tesla's Gigafactory. Additionally, the company has significant lithium assets in Argentina, including the Candela II and Pocitos 1 projects, which collectively contain substantial lithium resources. American Salars has also engaged marketing firms in Europe and North America to increase investor awareness.

American Salars Lithium has appointed David Guerrero Alvarado to its advisory board. Guerrero, with over 20 years in the mining industry and 15 years in lithium, previously held roles at Rio Tinto, Lithium X, and Galaxy Resources. His recent position was as country manager for Alpha Lithium, which sold for $330M. CEO R. Nick Horsley emphasized Guerrero's expertise in the lithium sector and his knowledge of the Argentina mining industry, enhancing the company's operations and M&A opportunities. American Salars focuses on the Pocitos 1 and Candela II Lithium Salar Projects in Argentina, with a NI 43-101 compliant inferred resource of 457,000 tonnes LCE.

On June 17, 2024, American Salars announced its acquisition of the Pocitos 1 Lithium Salar Project from Recharge Resources. The project, located near Pocitos, Salta, Argentina, covers 800 hectares and holds an inferred 760,000 tonnes of lithium carbonate equivalent (LCE) according to a December 2023 NI 43-101 Mineral Resource Estimate. Notable lithium concentrations of up to 169 ppm were recorded. The transaction entails issuing 5,000,000 shares to the vendor, assuming a tax liability of up to $250,000, and paying $80,000 to WSP for the MRE. Additionally, the vendor will receive bonus warrants exercisable upon achieving a combined resource of 1,000,000 tonnes LCE. The project will undergo further exploration, including new drilling and updated resource estimates.

American Salars completed phase one of its exploration at the Black Rock South Lithium Brine project in Nevada. The program involved collecting 58 soil samples across the property and 63 prospecting samples for analysis. Soil samples were submitted to ALS Geochemistry Laboratories for detailed analysis. Land research highlighted competitor claims and geothermal lease areas near the property. The project is strategically located near significant lithium production areas, including the Tesla Gigafactory and Silver Peak Lithium Mine. CEO Nick Horsley emphasized the project's potential and anticipates the results to guide phase two exploration.

American Salars Lithium has filed an NI 43-101 technical report for its Blackrock South Lithium Brine Project in Nevada, prepared by William Feyerabend. The report, available on SEDAR+ and the company’s website, highlights the project's potential, similar to the Clayton Valley lithium brine area, located 200 miles southeast. The Blackrock project is strategically located near Tesla’s Gigafactory and the Silver Peak Lithium Mine. Recent exploration on nearby claims showed promising lithium concentrations. Additionally, American Salars has engaged VHLA Media for a one-month digital marketing campaign, costing C$55,000. The campaign aims to enhance the company's presence on social media.