AmeriLithium Acquires Second Lithium Asset in Productive Nevada Region

LAKE TAHOE, NV, April 28 /PRNewswire-FirstCall/ -- AmeriLithium (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce it has recently executed a definitive agreement thereby acquiring 100% of the assets of the 5,760-acre (9 square mile) Full Monty project in Nye County, NV. The federal placer mining claims lie 25 miles north of Clayton Valley's prime Lithium-mining region.

Clayton Valley is home to the only US-based Lithium producing plant, operated by Chemetall Foote Corporation, a subsidiary of Rockwood Holdings, Inc. The plant has been in production since 1967, producing an estimated 50 million kg (55,000+ tons) of Lithium to date from the region's rich brines.(1)

The Full Monty location represents excellent logistics for project exploration and development, including an established road system and high voltage power lines that cross the Company's property. In terms of geology, the area is one of intense Quaternary faulting, the same age (150,000 years) faulting and on strike with the Paymaster Fault in Clayton Valley. The Full Monty gravity low in particular covers roughly 4,800 acres or 7.5 square miles; in comparison, Chemetall Foote's Lithium brine field in nearby Clayton Valley is only 2 square miles and has been producing continuously for 43 years.

Robert Allender, AmeriLithium's VP of Exploration and Chief Geologist, noted that gravity lows and geothermal highs in this area of Nevada are clear indications of subterranean sources for the widespread occurrences of precious and base metals, Lithium, and other minerals, not to mention geothermal resources.

AmeriLithium's Full Monty project claims cover the gravity low of the intersection of the Montezuma Trough (gravity) lineament with the Big Smoky Valley lineament. Mr. Allender further noted that the possibility of Lithium concentration related to the intersection of the Big Smoky Valley lineament and the Montezuma trough suggests considerable economic potential. In addition, possible sources for Lithium brines on the Full Monty property could include the possible linkage between Montezuma Peak volcanism and the Montezuma gravity trough.

Just to the east in Big Smoky Valley lie Li3 Energy's MW claims; just to the west lies General Moly's Hall molybdenum deposit, a Climax-style porphyry that is anomalous in Lithium and could have been an exceptionally large heat source for Lithium-rich geothermal fluids. Up-gradient in Big Smoky Valley, Darrough Hot Springs and Carnock Hot Springs are also anomalous in Lithium.

Matthew Worrall, CEO of AmeriLithium, stated, "We're fortunate to have acquired a second US-based Lithium exploration property in this prominent and productive region. Once again, our aggressive approach to property acquisition has proven successful by further expanding our growing North American portfolio and resource potential. As always, the ultimate goal is to develop ourselves into one of America's leading Lithium exploration companies, and the Full Monty project is yet another step in the right direction."

Lithium deposits are currently mined to the south of AmeriLithium's Full Monty Project in Clayton Valley via an environment-friendly and economic solution-mining technique, pumping brines from aquifers only a few hundred meters beneath the valley.(2) Such subsurface brines currently represent the dominant raw material for Lithium carbonate production worldwide due to the lower production costs when compared with hard-rock ore mining and processing.(3)

Recovery costs are further reduced through the absence of royalty fees on mining in Nevada; a quicker and easier permitting process for placer (alluvial deposit) mining than hard-rock mining; and lower recovery costs due to the brine's low manganese content when compared to the high-manganese brines found in Chile,(4) which represent 63% of America's Lithium imports (USGS, 2010).(3)

FOR MORE INFORMATION

More information on AmeriLithium's Full Monty project, and additional information regarding the Company, can be found at AmeriLithium's corporate website www.amerilithium.com along with the facility to sign up for regular news updates.

ABOUT LITHIUM: Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses Lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; the aviation industry uses Lithium in alloys. Of particular interest is the use of Lithium for battery production, which has expanded significantly in recent years due to rechargeable Lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market. Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity Lithium-ion batteries as environmentally-friendly fuel alternatives while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on Lithium-ion batteries.

ABOUT AMERILITHIUM: AmeriLithium is a publicly traded (NASD OTC BB: AMEL), mining company committed to progressively developing into one of the leading American players in the global Lithium industry. The Company is headquartered in Lake Tahoe, NV. AmeriLithium has amassed a Lithium portfolio consisting of ~718,000 acres, including two Nevada-based projects nearby the only Lithium producing plant in the US, a large project in Alberta, Canada, and a project in Western Australia.

ON BEHALF OF THE BOARD OF DIRECTORS,

INVESTOR RELATIONS:

Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. AmeriLithium Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to AmeriLithium Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. AmeriLithium Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

(1) Rodinia Minerals Inc website, Feb. 25, 2009

(2) Clayton Valley Lithium presentation, GeoXplor Corporation

(3) USGS Mineral Commodity Summary, 2010

(4) Rodinia Minerals Inc website, Feb. 25, 2009

SOURCE AmeriLithium Corp.