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American Lithium to Acquire Fish South Lithium Property in Esmeralda County, Nevada
American Lithium to Acquire Fish South Lithium Property in Esmeralda County, Nevada ...
About this update from American Lithium Corp.
[{"type":"text","content":"\n\n\n\nAmerican Lithium to Acquire Fish South Lithium Property in Esmeralda County, Nevada\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAmerican Lithium to Acquire Fish South Lithium Property in Esmeralda County, Nevada\nCanada NewsWire\nVANCOUVER, May 20, 2016\n\n\n\nAcquisition of 2900 acres ‎to increase Company's Fish Lake Valley Lithium Portfolio to 13,000 Acres\n\n\n\nVANCOUVER, May 20, 2016 /CNW/ - American Lithium Corp. (TSXV: Li) (\"American Lithium\" or the \"Company\"), is pleased to announce that it has entered into a property option agreement (the \"Option Agreement\") with TY & Sons Explorations (Nevada), Inc., an arm's length party, pursuant to which the Company will acquire the rights to earn an eighty (80%) interest in and to a series of thirty-six (36) mining claims totaling 2960 acres (1198 hectares), located in Esmeralda County, Nevada, known as the Fish South Property (\"Fish South\").\n\nAmerican Lithium CEO Mike Kobler commented, \"American Lithium continues to evaluate potential acquisition targets and conduct due diligence with a view to consolidating a dominant land position in Fish Lake Valley, Nevada, a known and well understood lithium brine basin.  The Fish South property is an important step in furthering American Lithium's strategy of accumulating a large, high quality portfolio of strategically located lithium brine properties in a region we believe is one of the most promising and largely undeveloped lithium brine basins in the State of Nevada.  We look forward to commencing our initial work program during the second half of 2016, to advance our significant exploration assets.\"\n\nIn order to earn an eighty (80%) interest in Fish South, initially the Company must complete a cash payment of USD$150,000, issue 1,000,000 common shares and 300,000 share purchase warrants exercisable at a price of CAD$1.10 for a period of three years, as well as pay certain costs associated with maintaining the Property.  The Company must also issue 500,000 common shares on or before the firs...