AmeriLithium Acquires Third Lithium Asset in Productive Nevada Region

LAKE TAHOE, NV, May 3 /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 5,280-acre (8.25 square mile) Clayton Deep Lithium brine project, covering the entire Southwest Gravity Low in Clayton Valley, NV.

The Clayton Deep project's placer claims lie less than 10 miles southwest of 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) Chemetall's exploration of the area immediately around the plant extends to within less than one mile of the northeast corner of AmeriLithium's Clayton Deep holdings.(2)

The Clayton Deep project location represents excellent logistics for project exploration and development, including established roads and high voltage power lines that cross the Company's property. In terms of geology, a large scale US Geological Survey (USGS) gravity survey in 1975 found two gravity lows (-210 milligals) in the south end of Clayton Valley; the South Central Low is controlled by Rodinia Minerals while the Southwest Low is controlled by AmeriLithium through the Clayton Deep project (to the immediate west of Rodinia Minerals).

The gravity lows at the south end of Clayton Valley indicate a thick sequence of sediments associated with the paleostructure of Clayton Valley which are not coincident with the topographic center of the basin. This sequence of sediments constitutes a potential target for evaporate deposits which may have associated Lithium deposits.

AmeriLithium's Southwest Low in particular is a viable size Lithium brine exploration target, covering approximately 2,200 acres or 3.4 square miles; in comparison, Chemetall Foote's Lithium brine recovery wells located less than 10 miles to the northeast have operated on only 2 square miles and have been producing continuously for 43 years.

Robert Allender, AmeriLithium's VP of Exploration and Chief Geologist, noted that the various reports in the area suggest at least two possible sources for brines with high Lithium concentrations in the Clayton Valley area and specifically regarding the Clayton Deep property. First, it has been suggested that the rhyolitic volcanic rocks that compose Montezuma Peak may be the source of Lithium in sediments and groundwater in the area; chemical leaching of Lithium from these rocks as a result of the action of surface water may be the source of Lithium-rich groundwater and Lithium in area sediments. A second possible source involves hydrothermally Lithium-enriched groundwater migrating along and upwelling in area faults.

Only five miles north of the Clayton Deep project and up-gradient are the Silver Peak Hot Springs, which are extremely anomalous in Lithium at 34 parts per million (ppm); the next highest Lithium content of any spring in Nevada is around 8 ppm at Duckwater Spring. According to the Nevada Bureau of Mines website, there may be a fault on the west side of Clayton Valley associated with the Silver Peak Hot Springs. If this fault extends down to the Southwest Gravity Low on AmeriLithium's property, it could have been a conduit for Lithium-rich geothermal fluids.

Matthew Worrall, CEO of AmeriLithium, stated, "With the acquisition of the Clayton Deep property, we now have two projects adjacent to proven, consistent production in Clayton Valley, and a third project nearby. And by increasing our domestic presence in this region of Nevada, we're that much closer to becoming one of America's leading Lithium exploration companies, and meeting America's demand for Lithium."

Lithium deposits are currently mined to the immediate north of AmeriLithium's Clayton Deep project via an environment-friendly and economic solution-mining technique, pumping brines from aquifers only a few hundred meters beneath the valley.(3) 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.(4)

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,(5) which represent 63% of America's Lithium imports (USGS, 2010).(4)

FOR MORE INFORMATION

More information on AmeriLithium's Clayton Deep 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 ~724,000 acres, including three 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,

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.

SOURCE AmeriLithium Corp.