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Peruvian Court Confirms Appeals Filed Against Its Ruling Granting the Company Ownership Over Disputed Concessions
VANCOUVER, BRITISH COLUMBIA, Nov. 25, 2021 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:
About this update from American Lithium Corp.
[{"type":"text","content":" VANCOUVER, BRITISH COLUMBIA, Nov. 25, 2021 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) reports that on November 25, 2021, the Peruvian judiciary has released information confirming appeals of the judicial ruling issued in favour of Macusani Yellowcake S.A.C., the Company’s Peruvian subsidiary, in relation to title to 32 disputed concessions out of its 151 concessions in Peru. The Company confirms that, as previously reported and in line with usual practice, appeals have been lodged by INGEMMET (Peruvian Institute of Mines and Metallurgy) and its parent ministry, MINEM (Ministry of Mines and Energy). No additional details are currently available on what aspects of the ruling are being appealed. As reported by the Company on November 3, 2021, the presiding judge’s strong and definitive decision restoring the Company’s ownership title over the 32 concessions disputed by INGEMMET was announced in Court SALA 6, and issued digitally on the afternoon of November 2, 2021 (Link to: Spanish Ruling here). The Company has obtained a Certified English Translation of the judicial resolution, which is provided here (Link to: Certified English translation). Simon Clarke, CEO of American Lithium, stated “While it is standard practice for the legal departments of regulatory bodies in Peru to appeal rulings such as this, the Company is confident that, given the strength of the judgements presented in the November 3, 2021 ruling, the appeals will not be successful. The ruling is a major step forward in this process and provides confidence that common sense will prevail. We continue pushing ahead with the mobilization of our drill rigs to commence the next phase of development and exploration drilling in and around our Falchani Lithium and Macusani Uranium projects.” About American Lithium American Lithium, a member of the TSX 50, is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada as well as continuing to advance its Falchan...