4. 4
American Lithium
A LEADING LITHIUM DEVELOPER FOCUSED ON THE AMERICAS
TLC
Falchani
Macusani
UNITED
STATES
PERU
2 Quality Lithium Projects: TLC & Falchani
Company Highlights
Tier 1 Jurisdictions: Nevada & Peru
One of the Worldās Largest Undeveloped Uranium Deposits: 51.9
Mlbs UāOā Measured & Indicated and 72.1 Mlbs UāOā Inferred(2)
Excellent Infrastructure and Access to Skilled Labour
Well Funded: ~ C$16 M Cash with strong support from major
shareholders
Large Diverse Resource Base: 6.3 MT LiāCOā Measured &
Indicated and 5.5 MT LiāCOā Inferred(1)
Deep Management & Technical Team Experience
(1) At 400 ppm Li cutoff grade for TLC, and 1000 ppm Li cutoff grade for Falchani
(2) At 75 ppm U cutoff grade
5. Strong Share Performance & Liquidity
Strong Progress on the Ground and at the Corporate Level
A Transformational Year
ļ¼ Large NI 43-101 Mineral Resource Estimate at TLC in Nevada
ļ¼ Met Studies Highlight Rapid Leaching, Ability to Upgrade, and Precipitation
of Lithium Carbonate
ļ¼ Baseline Biological Study Completed and Water Rights Secured
ļ¼ Plan of Operations Filed With Bureau of Land Management
ļ¼ US Department of Energy Grant
ļ¼ Named to TSX Venture 50 (#1 in Mining)
ļ¼ Raised in excess of C$25 M in Capital
ļ¼ Key Management / Board Changes Adding Strong Technical Expertise
ļ¼ Successful Acquisition of Plateau Energy Metals
ļ¼ Diversified Asset Base with Falchani & Macusani in Peru
5
ā
5
10
15
20
25
30
ā
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
Jan 20 Mar 20 May 20 Jun 20 Aug 20 Oct 20 Dec 20 Feb 21 Apr 21 Jun 21 Aug 21
Volume
(MM)
6. Capitalization
1. Weighted average exercise price of C$0.86 (low of $0.50 and high of $1.10); 2. Shown on a fully diluted basis
Source: Refinitiv, company disclosure
Share Structure
Stock Exchange / Symbol
TSXV: LI
OTCQB: LIACF
Share Price C$2.50
Basic Shares Outstanding 176.5 M
Warrants Outstanding 30.5 M
Options Outstanding 8.4 M
Fully Diluted Shares Outstanding 214.9 M
Market Capitalization C$441 M
Current Cash Balance C$16.0 M
Proceeds from ITM Warrants/Options C$12.2 M
Major Shareholders
Institutional / HNW
- Commodity Capital
- Terra Capital
- AusBil
- GlobeX
- Primevest
- Haywood Securities brokerage accounts
Management and Board
- Participates in and Supports all Financings
Retail
- 40,000+ Shareholders
Analyst Coverage
VSA Capital Oliver OāDonnoll
Echelon Partners Gabriel Gonzalez
6
7. Proven Leadership Team, Known Company Builders
7
Andrew Bowering
Chairman & Director
25+ years experience in the mining and energy sector with
specific focus in battery metals building and growing
companies and implementing successful capital markets and
growth strategies.
Founder, CEO and Director of M2 Cobalt sold to Jervois
Mining in June 2019. Founder/Director of Osum Oil Sands
recently sold to Watreous Energy Fund for $400 million.
Director of Doublestar Resources at the time of its sale to
Selkirk Metals in 2007.
Philip Gibbs, CA
CFO
Founder and Managing Director of Plateau Energy Metals
with 30+ years experience in mining, exploration,
development, processing and marketing.
Previously worked at Gold Fields of South Africa and JCI
(Pty) Ltd with a vast experience covering over 100 projects
on 6 continents. Since 2000 he has spent time mostly on
South American and African projects.
GA Ben Binninger, MBA, BEng
Independent Director
25+ years of experience in the exploration industry. Most
recently, Director of Corporate Development at Cameco
responsible for evaluating, directing and exploring for
uranium deposits worldwide.
Has successfully led new project generation from early
exploration through to discovery on multiple uranium projects
and was part of the discovery team for the Falchani project.
Ted OāConnor, P.Geo, MSc.
Director, Advisor & QP
20+ years in minerals development including lithium, potash
and boron. Extensive experience leading and creating
technically sophisticated companies from a few million
dollars to global enterprises of a billion dollars.
Ben was former CCO for Rio Tinto Borax, CEO of Potash
Minerals and was most recently on the advisory board for
Millennial Lithium. He taught international business
management at UCLA.
30+ years in mining. Founded, funded, and built teams that
have operated numerous mineral resource companies from
early exploration through to production.
Founder, Executive VP and Director of Prime Mining and
was also a Founder/Director at Millennial Lithium Corp.
Helped find and develop that Companyās brine assets in
Argentina which are now moving into pilot production.
Extensive experience with listed mining and mineral
exploration companies operating in Africa and South
America. Mr. Gibbs also serves as CFO of Cobalt
BlockChain Inc. and Asante Gold Corporation.
Simon Clarke, LLB
CEO & Director
Dr. Laurence Stefan, PhD
COO & Director
8. Environment
ļ· As a conscientious, progressive mining company, the responsible stewardship of the local
environment where we operate is at the heart of our corporate values.
ļ· We work to always minimize the environmental impact of our activities.
ļ· Early biological surveys at TLC confirm no protected species or endangered habitat.
ļ· Have retained Minviro to assess and help identify and minimize potential
environmental impacts.
ļ· Have implemented initiatives to secure water rights and to minimize water loss.
ļ· Falchani / Macusani PEAs focus on utilizing power / infrastructure with best
environmental footprint.
Social
ļ· Committed to human rights, equality, responsible labour practices, health & safety in our
workforce.
ļ· Valuing what matters most to locals, including the long-term prosperity of the community.
ļ· Our approach to community outreach is to ask, discuss and listen. This includes engaging
in regular dialogue and consultation with all stakeholders.
Community
ļ· The creation of well-paying employment.
ļ· We work closely with all Communities related to our Projects.
ļ· Support for community enhancement initiatives.
ļ· Prioritization for sourcing local goods and services.
ļ· Regular consultation with the local community and all other stakeholders.
Health and Safety
ļ· Safety protocols for employees, stakeholders, and the communities in which we operate.
ļ· Adherance to all relevant COVID 19 protocols.
Environmental, Social, Governance (ESG)
11. TLCās Advantages
10
120
180
240 240 240
1440
0
150
300
450
600
American
Lithium -
TLC
Noram
Ventures -
Clayton
Valley*~
LAC Thacker
Pass
Cypress
Minerals -
Clayton
Valley*
Jindalee -
McDermitt
Hawkstone -
Big Sandy**
Ioneer -
Rhyolite
Ridge^
Minutes
Leach time to >=90% recovery [mins]
11
Simple Lithium Upgrading
ā¢ Cyclones upgrade lithium
ā¢ Achieved results up to
1300 ļ 2200 ppm
Low Deleterious Elements
ā¢ Low mercury, low arsenic, low
radioactivity (uranium)
ā¢ No contaminants in waste
material
No Water Issues
ā¢ The entire resource is
above the water table
ā¢ No groundwater, runoff,
or watershed issues
Minimal Overburden
ā¢ Lithium mineralization at surface
ā¢ Suitable to conventional mining
methods
Notes: *Only made it to 80% | ~First hour was distilled water only, so 180 minutes total | ^ āResidence timeā | ** Inferred from 85% and 95% recovery
Source: American Lithium Research
Cutoff Volume Tonnes Li Million Tonnes (Mt)
Li (ppm) (Mm^3) (Mt) (ppm) Li Li2CO3 LiOH*H2O
Measured
400 400 680 932 0.63 3.35 3.81
1000 169 287 1256 0.36 1.92 2.18
Indicated
400 251 427 898 0.38 2.02 2.30
1000 95 162 1256 0.20 1.06 1.21
Measured +Indicated
400 651 1107 912 1.01 5.37 6.11
1000 264 449 1247 0.56 2.98 3.39
Inferred
400 213 362 912 0.33 1.76 2.00
1000 84 143 1228 0.18 0.96 1.09
1) Lithium resource estimate was published on 15 April 2020. Measured and Indicated: 5.37m tonnes LCE and Inferred: 1.76m
tonnes LCE. See Technical Reports on Slide 2 for details.
Competitive Market Advantage Fastest Processing Time
Mineral Resources
ā¢ Lithium that is weakly bound to the clays
ā¢ Over 90% leach extraction within 10 minutes enables mineralized
material to be converted to lithium compounds within hours
TLC CLAYSTONE UNIQUE CHARACTERISTICS
12. TLC Processing Options
12
Lithium
Hydroxide
Monohydrate
Sulfuric Acid Hydrochloric Acid Roast / Water Leach
Leaching Li Extraction Up to 97.4% Up to 95.1% Initial results up to 82%
Leachate Impurities Relatively high Relatively high Relatively low
Tailings Management Long term, potentially
leachable
Long term, potentially
leachable
Simpler, potential for cut
and cover
Other Benefits Sulfuric acid plant
electricity revenue
Potential to regenerate
acid, lowering OPEX
Potentially lower CAPEX
Challenges High CAPEX acid plant
and need for
neutralization (reagents)
High CAPEX acid plant
and need for
neutralization (reagents)
Natural gas pipeline or
other heat source
needed, CO2 mitigation
Beneficiation
Acid Leach or
Roast / Water
Leach
Impurity
Removal
Final Product:
Li2CO3 or
LiOH * H2O
Precipitation
or
Crystallization
13. 13
Environmental Assessment commenced / Revised Plan of
Operations Submitted
Plan of Operations Highlights
ā¢ Expanding Notice-level drilling
into a Plan of Operations
ā¢ 5,160-acre Project Area
ā¢ 106.6 acres new disturbance
ā¢ 110 new drill sites
ā¢ 5 bulk sample test pits for off-site
metallurgical testing
ā¢ Use existing roads / infrastructure
ā¢ Full approval / next phase of
drilling anticipated mid-November
14. TLC is an Ideal Project to Respond to the Administrationās
Critical Minerals Supply Chain Directives
ā āIdentify potential U.S. production and processing
locations for critical minerals: We recommend that federal
agencies, led by the Department of Interior with the support
of the White House Office of Science and Technology
Policy,ā¦identify potential sites where critical minerals could
be sustainably and responsibly produced and processed in
the United States while adhering to the highest
environmental, labor, community engagement, and
sustainability standards.ā (Page 15)
TLCās favorable location, metallurgy, and environmental
setting represent an exceptional opportunity to develop a
large domestic lithium resource
14
15. Falchani Lithium Project Overview
SCALABLE, LONG LIFE BATTERY QUALITY LITHIUM CHEMICAL PROJECT IN PERU
15
Asset Location and Concession Stage 1 Project: PEA Highlights*
PERU
Puno
US$844M
NPV(8%)1
18.8%
Post-Tax IRR1
4.6 Years
Payback1
undiscounted
US$3,418M
LOM Total
Cash Flow1
Post-Tax
US$198M
LOM Avg. Annual
US$587M 26 Years Production
OpEx2 Initial CapEx3 Mine Life Battery Grade4
41,000tpa LiāCOā
Y8-Y26
1. After-tax, average annual at steady state throughput of 3mtpa, based on a selling price of $12,000/t Li2CO3. 2. Inclusive of G&A, Mining, Processing and Tailings Handling. 3. Includes: Includes EPCM, spares, insurances, owners' team, Process Plant Contingency of 11%,
Infrastructure Costs (Road and TSF) inclusive of 15% contingency. 4. Steady State ā battery quality Li2CO3. * See IMPORTANT PEA Cautionary Notes on Slide 2.
Tonnes Grade Contained
(Mt) (ppm Li) (Li MT) (LiāOā MT)
Indicated* 60.9 2,954 0.2 1.0
Inferred* 260.1 2,706 0.7 3.8
US$4,333
per tonne
23,000tpa LiāCOā
Y1-Y7
16. Asset Benchmarking ā 2025E
LOW SECOND QUARTILE COSTS (TOTAL COST BASIS)
16
Source: Benchmark Mineral Intelligence, December 2019 . See IMPORTANT PEA Cautionary Notes on Slide 2.
Low Operating Costs
ļ§ Upfront leaching supports project
flexibility for the industryās future preferred
lithium chemical needs
ļ§ Onsite acid plant enables low cost
reagent source and green self-sustainable
power generation
ļ§ In-country sourcing of consumables
supports Peruvian businesses, reduces
reagent costs, transport costs and value-
added taxes
ļ§ Use of contract mining offers low cost
mining services with flexibility to scale
through expansion phases
ļ§ Low operating costs US$4,333 per
tonne LiāCOā excluding potential by-
product revenues
17. Flowsheet Overview
CONVENTIONAL PROCESSING & PRECIPITATION
17
ļ§ Extensive metallurgy and process
engineering work supports
conventional sulfuric acid tank
leaching
ļ§ Crystallization demonstrated low
impurity, battery quality Li2Co3
(99.74%+)
ļ§ Lithium-rich sulfate solution offers
lithium chemical end-product
flexibility
Tank Leach Process Flowsheet Highlights
18. Macusani Uranium Project Overview
LOW COST, LOW CAPITAL INTENSITY, FLEXIBLE URANIUM DEVELOPMENT PROJECT
18
PEA Highlights
Location and Mineral Resource
PERU
Puno
Strong Project Economics1, 2
ļ§ NPV8: US$603M, IRR 40.6%, and 1.8 years payback at US$50/lb UāOā
ļ§ Large Scale. Avg. production ~6Mlbs UāOā / yr over a 10-year mine life
ļ§ PEA Mine Plan Resource: ~70Mlbs UāOā at 289ppm
ļ§ Low Cost: US$17/lb LoM cash cost and ~US$18/lb AISC5
ļ§ Low CapEx: ~~US$300M initial capital
Optimization Opportunities
ļ§ Ability to pre-concentrate / upgrade more than doubles uranium grades
ļ§ Enables incorporation of additional resources into mine plan and
strengthens already robust economics
ļ§ Tank leaching for increased recoveries
ļ§ Initial capex reduction by re-scoping to phased expansion approach
Near Surface + Leach Kinetics
ļ§ 5 near surface deposits included in the PEA mine plan
ļ§ Low life of mine strip ratio
ļ§ Hosted in porous volcanic rock, which allows for rapid leach and low acid
consumption
75ppm Cut-Off1 Tonnes Grade Contained lbs
(Mt) (ppm UāOā) (Mlbs UāOā)
M&I3 95.2 248 51.9
Inferred4 130.0 251 72.1
1. See IMPORTANT Cautionary Notes on slide 2 and 3; 2. Using US$50/lb uranium price; 3. At an average grade of 248ppm (75ppm U cut off); 4. At an average grade of 251ppm (75ppm U cut off); 5 Non-IFRS reporting measure.
*Refer to the "Macusani Project, Macusani, Peru, NI 43-101 Report ā Preliminary Economic Assessmentā as detailed on slide 2..
19. BUILDING ADDITIONAL VALUE THROUGH THE DRILL-BIT
19
Aggressive Exploration & Development
ā¢ Exploration drilling on 2 new ādrill-readyā Target Areas
near Falchani
ā¢ Infill & expansion drilling at Falchani to expand existing
resource and upgrade existing resource categories
ā¢ Updating Falchani PEA for Cesium and other by-
products
ā¢ Expansion drilling at Macusani to expand existing
resource
PERU
ā¢ Ongoing metallurgical work to finalize flow-sheet at TLC
ā¢ Infill and expansion drilling at TLC to expand and
upgrade resource
ā¢ Complete PEA
NEVADA
20. $36 $47 $56 $61 $96
$146 $146 $149 $168 $325 $355 $361 $429 $485
$1,417
$1,610
$1,835 $2,182
Lithium
Power
International
Ltd.
Bearing
Lithium
Corp
AVZ
Minerals
Ltd.
American
Lithium
Corp.
Critical
Elements
Lithium
Corporation
Neo
Lithium
Corp.
Millennial
Lithium
Corp.
Lake
Resources
Firefinch
Limited
European
Lithium
Ltd.
Frontier
Lithium
Inc.
Liontown
Resources
Limited
Lithium
Americas
Corp.
Sigma
Lithium
Corporation
Pilbara
Minerals
Limited
Sayona
Mining
Ltd.
Piedmont
Lithium
Rock
Teck
Lithium
166 258 364 431 463 597 734 960 1,381 1,612
2,389
4,259 4,350
5,370 5,982 6,330
8,837
11,000
Georgia
Lake
Keliber
Bald
Hill
Authier
Pakeagama
Lake
Piedmont
Rose
Falchani
Whabouchi
Sigma
Goulamina
Pilgangoora
Kathleen
Valley
TLC
Thacker
Pass
American
Lithium
Greenbushes
Manono
BEST IN CLASS PORTFOLIO
20
M&I Resource (KT LCE) vs. Global Hard Rock & Sedimentary Lithium Deposits
Source: FactSet, company public filings
Lithium Developer EV/ M&I LCE (US$/T)
American Lithium portfolio is positioned well in
terms of scale vs. global projects
American Lithium presents
a significant value
opportunity for investors
Pro-Forma Positioning
Peer Average: C$550/T
21. $17 $80 $91
$166
$244 $312 $323 $386 $453
$622 $630 $650
$816 $899
$1,160
$1,559
$2,965
$5,933
Bearing
Lithium
Corp
European
Lithium
Ltd.
Lithium
Power
International
Ltd.
Frontier
Lithium
Inc.
Critical
Elements
Lithium
Corporation
Rock
Tech
Lithium
Millennial
Lithium
Corp.
American
Lithium
Corp.
Firefinch
Limited
Neo
Lithium
Corp.
Lake
Resources
AVZ
Minerals
Ltd.
Sigma
Lithium
Corporation
Sayona
Mining
Ltd.
Piedmont
Lithium
Liontown
Resources
Limited
Lithium
Americas
Corp.
Pilbara
Minerals
Limited
STRONG VALUE PROPOSITION
21
Market Capitalization (C$M) vs. Global Lithium Developers
Source: FactSet, company public filings
Significant player in the lithium
developer universe
Pro-Forma Positioning
Peer Average: C$961M
22. Strong Fundamentals Going Forward
ā¢ Two of the largest global lithium development projects
ā¢ Combined resources of 6.3MT LCE Measured & Indicated and 5.5MT LCE Inferred
ā¢ Both with access to existing and favorable infrastructure
ā¢ Substantial exploration upside
ā¢ Creating opportunities for lower operating costs and development capital
ā¢ Depth of management, each with 30+ years experience in extractive industries
ā¢ Simon Clarke was a Founder of M2 Cobalt and was critical in sale to Jervois Mining
ā¢ Andrew Bowering founded Millennial Lithium which has raised over $100 million
ā¢ Dr. Laurence Stefan has taken Falchani to ābattery gradeā Lithium Carbonate
ā¢ Proven history of returning value to shareholders
ā¢ Input into high growth sectors (electric vehicles, renewables, robotics)
ā¢ Considered one of the metals positively impacted by technology supercycle
ā¢ Demand expected to increase by more than 5X by 2030(2)
ā¢ Planned battery factories in USA will require ~ 150,000 tonnes of LCE per year(3)
ā¢ Significant initiatives to develop domestic supply
ā¢ Located in Nevada, USA close to Tesla Gigafactory, and mining friendly Peru
ā¢ Mining responsible jurisdictions with strong support for resource development
ā¢ US government supports domestic lithium projects as a key ācritical mineralā
ā¢ Potential for TLC to be fast tracked
ā¢ Peru ranked 2nd best āemergingā market with greatest macroeconomic strength(1)
World-Class, Scalable Assets Dedicated Management Team
Enviable Locations Lithium Demand Set to Increase
22
Near Term Milestones ā Advancing Towards Production
TLC:
ā¢ Plan of Operations filed/EA Commenced
ā¢ Additional drilling / Update Resource
ā¢ Expand / high-grade Resource
ā¢ PEA / Feasibility
Falchani:
ā¢ Expansion drilling to test new areas
ā¢ Expand / upgrade existing resource
ā¢ PEA update with by-products
ā¢ Feasibility Study H1 2022
(1) Bank of America
(2) Source: Benchmark Mineral Intelligence Lithium Forecast Q4 2020
(3) Source: https://www.ioneer.com/rhyolite-ridge/strategic-location
Uranium Poised for Recovery
ā¢ Optionality provided by large-scale advanced uranium project with robust economics
ā¢ Additional drilling to expand resource
ā¢ Upgrade from PEA to PFS
ā¢ Project will be maximized for benefit of all shareholders
23. Cells 6% 10% 73%
Lithium Supply Chain is Dominated by China
23
Source: Benchmark Mineral Intelligence
1 Flake Graphite Feedstock, All Anode Nature & Synthetic
Stage One: Mining
Mining
Global share of production (%) in 2019
Nickel 8% 0% 31%
Cobalt 0% 0% 1%
Graphite1
1% 0% 65%
Lithium 0% 1% 9%
Manganese 0% 0% 6%
Stage Two: Chemical Processing/Refining
Nickel 13% 1% 65%
Cobalt 17% 0% 82%
Graphite1
0% 0% 100%
Lithium 0% 4% 59%
Manganese 7% 0% 93%
Chemical
Processing
Cathode
Production
Stage Three: Cathode or Anode Production
Cathode 0% 0% 61%
Anode1
0% 0% 83%
Cell
Manufacturing
Stage Four: Li Battery Cell Manufacturing
Application
25. Electric Vehicles
ā¢ LCE per vehicle battery: 10-63kg.
ā¢ The global EV market is expected to
grow at 22.5% from 2021-2030 to
$1.32tn.
Advanced Robotics
It is predicted that the market for
industrial and non-industrial robots will
grow from $132bn in 2021 to $209bn by
2025.
Renewables
Renewables are growing and are
expected to expand by 50% in the next
five years with solar PV leading the
way.
IT
ā¢ LCE per laptop: 50-100grams.
ā¢ The electronic devices market is
growing at 1.9% by revenue and 4%
by demand.
ā¢ By 2023, the electronic devices
market is expected to rise to
$29.5bn/52.1GWh.
Why Lithium?
WE ARE IN A TECHNOLOGY āSUPER CYCLE;ā LITHIUM IS ONE OF THE METALS MOST
IMPACTED BY EMERGING TECHNOLOGIES
Lithium is critical to these key booming
markets, amongst othersā¦
Source: MIT, ITA, Core Consultantsā Research
Minerals Most Likely Impacted by Emerging Technologies
25
27. American Lithiumās TLC project can supply the critically
required domestic lithium in an environmentally and
economically sustainable way.
Government Has
Declared US
Battery
Independence
THE SUPPLY CHAIN STARTS WITH OWNING
AND DEVELOPING LITHIUM-ION BATTERY
RAW MATERIALS IN AMERICA
27