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$19.0 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. --
2.0
4.0
6.0
8.0
10.0
--
$1.00
$2.00
$3.00
$4.00
$5.00
Jan-20 Mar-20 May-20 Jul-20 Sep-20 Nov-20 Jan-21 Mar-21 May-21
Volume
(mm)
Share
Price
(C$/sh.)
Volume VWAP
Strong Share Performance & Liquidity
Strong Progress on the Ground and at the Corporate Level
A Transformational Year
ā Large NI 43-101 Mineral Resource Estimate at TLC in Nevada
ā Met Studies Highlight Rapid Leaching, Ability to Upgrade, and Precipitation
of Lithium Carbonate
ā Baseline Biological Study Completed and Water Rights Secured
ā Plan of Operations Filed With Bureau of Land Management
ā US Department of Energy Grant
ā Named to TSX Venture 50 (#1 in Mining)
ā Raised in excess of C$25 M in Capital
ā Key Management / Board Changes Adding Strong Technical Expertise
ā Successful Acquisition of Plateau Energy Metals
ā Diversified Asset Base with Falchani & Macusani in Peru
5
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$2.00
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$353 M
Current Cash Balance C$19.0 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+ Registered 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
currently producing 20,000 bopd. Was a 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 mineral development including lithium, potash,
and boron. Ben also has extensive experience creating
technically sophisticated process and service companies.
Former CCO for Rio Tinto Borax, CEO of Potash Minerals,
and was most recently on the advisory board of Millennial
Lithium. He has taught international business management
at UCLA and studied at Harvard, Stanford, and INSEAD.
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
ā¢ As a conscientious, progressive mining company, the responsible stewardship of the local
environment where we operate is at the heart of our corporate values.
ā¢ We work to always minimize the environmental impact of our activities.
ā¢ Early biological surveys at TLC confirm no protected species or endangered habitat.
ā¢ Have retained Minviro to assess and help identify and minimize potential
environmental impacts.
ā¢ Have implemented initiatives to secure water rights and to minimize water loss.
ā¢ Falchani / Macusani PEAs focus on utilizing power / infrastructure with best
environmental footprint.
Social
ā¢ Committed to human rights, equality, responsible labour practices, health & safety in our
workforce.
ā¢ Valuing what matters most to locals, including the long-term prosperity of the community.
ā¢ Our approach to community outreach is to ask, discuss and listen. This includes engaging
in regular dialogue and consultation with all stakeholders.
Community
ā¢ The creation of well-paying employment.
ā¢ We work closely with all Communities related to our Projects.
ā¢ Support for community enhancement initiatives.
ā¢ Prioritization for sourcing local goods and services.
ā¢ Regular consultation with the local community and all other stakeholders.
Health and Safety
ā¢ Safety protocols for employees, stakeholders, and the communities in which we operate.
ā¢ 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 ā 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
The leaching time to recover more than 90% of the lithium is much faster than comparable
lithium claystone projects. High lithium yields in a matter of minutes. This efficiency is due
to TLCās unique mineralogy and could lead to lower processing and production costs.
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
12. Flowsheet Overview
TLC IN THE BATTERY SUPPLY CHAIN
12
TLCās Claystone
Material
Fe, Al, Mn
Leaching &
Neutralization
(pH 1-8)
Lithium Raw
Materials
Evaporation
Magnesium
Precipitation
(pH 11-12)
Heat
H2O
NaOH or
Ca(OH)2
Mg(OH)2,
CaSO4*2H2O
Calcium
Precipitation
Soda Ash
CaCO3
Causticization
NaOH Heat
H2O
Evaporation
Lithium
Hydroxide
Monohydrate
Other
Battery Raw
Materials
Battery Manufacturers
Lithium Battery Components
Separator Anode
Electrolyte Cathode
Lithium Battery Production
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
ā¢ Proven ability to upgrade lithium grades
ā¢ Alternative leaching techniques show early promise
TLC CLAYSTONE UNIQUE CHARACTERISTICS
Beneficiation
Sulfuric
Acid
13. Falchani Lithium Project Overview
SCALABLE, LONG LIFE BATTERY QUALITY LITHIUM CHEMICAL PROJECT IN PERU
13
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
14. Asset Benchmarking ā 2025E
LOW SECOND QUARTILE COSTS (TOTAL COST BASIS)
14
Source: Benchmark Mineral Intelligence, December 2019 . See IMPORTANT PEA Cautionary Notes on Slide 2.
Low Operating Costs
āŖ Upfront leaching supports project
flexibility for the industryās future preferred
lithium chemical needs
āŖ Onsite acid plant enables low cost
reagent source and green self-sustainable
power generation
āŖ In-country sourcing of consumables
supports Peruvian businesses, reduces
reagent costs, transport costs and value-
added taxes
āŖ Use of contract mining offers low cost
mining services with flexibility to scale
through expansion phases
āŖ Low operating costs US$4,333 per
tonne LiāCOā excluding potential by-
product revenues
15. Flowsheet Overview
CONVENTIONAL PROCESSING & PRECIPITATION
15
āŖ Extensive metallurgy and process
engineering work supports
conventional sulfuric acid tank
leaching
āŖ Crystallization demonstrated low
impurity, battery quality Li2Co3
(99.74%+)
āŖ Lithium-rich sulfate solution offers
lithium chemical end-product
flexibility
Tank Leach Process Flowsheet Highlights
16. Macusani Uranium Project Overview
LOW COST, LOW CAPITAL INTENSITY, FLEXIBLE URANIUM DEVELOPMENT PROJECT
16
PEA Highlights
Location and Mineral Resource
PERU
Puno
Strong Project Economics1, 2
āŖ NPV8: US$603M, IRR 40.6%, and 1.8 years payback at US$50/lb UāOā
āŖ Large Scale. Avg. production ~6Mlbs UāOā / yr over a 10-year mine life
āŖ PEA Mine Plan Resource: ~70Mlbs UāOā at 289ppm
āŖ Low Cost: US$17/lb LoM cash cost and ~US$18/lb AISC5
āŖ Low CapEx: ~~US$300M initial capital
Optimization Opportunities
āŖ Ability to pre-concentrate / upgrade more than doubles uranium grades
āŖ Enables incorporation of additional resources into mine plan and
strengthens already robust economics
āŖ Tank leaching for increased recoveries
āŖ Initial capex reduction by re-scoping to phased expansion approach
Near Surface + Leach Kinetics
āŖ 5 near surface deposits included in the PEA mine plan
āŖ Low life of mine strip ratio
āŖ 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..
17. BUILDING ADDITIONAL VALUE THROUGH THE DRILL-BIT
17
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
18. $34 $41 $49 $51 $52 $66
$83 $138 $173 $208 $225 $229 $267
$378 $399
$1,066
$1,174
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Bearing
Lithium
Power
American
Lithium
Millennial
Lithium
AVZ
Neo
Lithium
Lithium
Americas
Liontown
Resources
Lake
Resources
Sigma
Lithium
European
Lithium
Critical
Elements
Frontier
Lithium
Lithium
Australia
Sayona
Mining
Rock
Tech
Piedmont
Peer Average: US$272/T
166 258 364 431 463 597 734 960 1,381 1,612
2,389
4,259 4,350
5,370 5,982 6,330
8,837
11,000
0
2,000
4,000
6,000
8,000
10,000
12,000
Georgia
Lake
Keliber
Bald
Hill
Authier
Pakeagama
Lake
Piedmont
Rose
Falchani
Whabouchi
Sigma
Goulamina
Pilgangoora
Kathleen
Valley
TLC
Thacker
Pass
American
Lithium
Greenbushes
Manono
BEST IN CLASS PORTFOLIO
18
M&I Resource (KT LCE) vs. Global Hard Rock & Sedimentary Lithium Deposits
Source: FactSet, company public filings
Lithium Developer EV/ M&I LCE (US$/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
19. $13 $41 $51 $81 $108 $136
$176 $183 $183
$223
$292
$336 $339 $342
$615
$967
$1,612
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
Bearing
European
Lithium
Lithium
Power
Lithium
Australia
Sayona
Mining
Frontier
Lithium
Critical
Elements
Lake
Resources
Rock
Tech
Millennial
Lithium
Neo
Lithium
American
Lithium
AVZ
Sigma
Lithium
Liontown
Resources
Piedmont
Lithium
Americas
Peer Average: US$335M
STRONG VALUE PROPOSITION
19
Market Capitalization (US$M) vs. Global Lithium Developers
Source: FactSet, company public filings
Significant player in the lithium
developer universe
Pro-Forma Positioning
20. 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
20
Near Term Milestones ā Advancing Towards Production
TLC:
ā¢ Plan of Operations filed
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
22. 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
22
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. 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
25