Business
American Lithium Secures Water Reservation Agreement from Tonopah Public Utilities and the Town of Tonopah in Nevada for TLC Project Operations
VANCOUVER, British Columbia, Sept. 26, 2025 (GLOBE NEWSWIRE) -- American Lithium Corp. (“A...
About this update from American Lithium Corp.
[{"type":"text","content":"American Lithium Secures Water Reservation Agreement from Tonopah Public Utilities and the Town of Tonopah in Nevada for TLC Project Operations\n\n\n\n VANCOUVER, British Columbia, Sept. 26, 2025 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V: LI | OTCQX: AMLIF | Frankfurt: 5LA1) is pleased to announce that its wholly-owned subsidiary, Tonopah Lithium Corp. (“TLC”), has signed a binding Water Reservation Agreement with the Town of Tonopah and Tonopah Public Utilities (“TPU”). TLC intends to use its existing fully-owned water rights for Phase 1 of the TLC Project in Nye County, Nevada, with this essential additional water supply securing the needs for Phase 2.\n \n\n\n Key Highlights of the Agreement\n \n\n\n\n\n\n Reserved Water Supply:\n \n TPU agrees to reserve and allow for TLC’s future use of 900 – 1,250 gallons per minute (1,450 – 2,000 acre-feet annually) of water, subject to results of hydrology and engineering studies to be undertaken by TLC at its sole expense.\n \n\n\n Hydrology & Engineering Studies:\n \n TLC will conduct detailed studies in the Ralston Valley Basin to confirm sustainable pumping rates and to determine the specifications of upgraded pipelines and well fields.\n \n\n\n Infrastructure Commitment:\n \n If TLC elects to proceed with the water supply from TPU, TLC will be responsible for the construction of water delivery improvements, including upgraded wells, pipelines, and storage tanks, with all infrastructure ultimately transferred to TPU following project closure.\n \n\n\n Community Benefits Funded by Financial Consideration:\n \n For this Water Reservation Agreement TLC will provide an initial USD $200,000 payment, to be held in a restricted account through the Community Foundation of Northern Nevada. These funds may only be used by the Town of Tonopah for:\n \n\n Taking loans against it for infrastructure projects within the Town, or\n \n\n Funding scholarships for Tonopah High School graduates and/or local residents enrolled in colleges.\n \n\n\n\n\n Long-Term Commitment:\n \n The Agreement provides an initial 3-year term for the reservation of water supply, renewable for up to 7 additional one-year terms (for a consideration of $50,000 USD per year of extension), to allow TLC ...