AMERICAN SALARS ACQUIRES HIGHLY PROSPECTIVE PROPERTY NEXT TO SAYONA MINING'S LAC SIMARD LITHIUM MINE, QUEBEC

Core Viewpoint - American Salars Lithium Inc. has signed a Mineral Claims Purchase Agreement to acquire 100% of the Lac Simard South Project, which spans 3,672.75 hectares and is located near significant lithium resources in Quebec [1][2]. Acquisition Details - The Lac Simard South Project consists of 64 claim blocks and is contiguous to properties owned by Sayona Mining Limited and Refined Metals Corp. [1] - The project has previously sampled lithium grades of 2.1% (4.52% Lithium Oxide) and tantalum oxide grades of 5.88% [1]. - The acquisition will be executed by issuing 50,000 common shares to the vendor, Quartier Mineral Ltd of Quebec [7]. Project Location and Accessibility - The project is situated 80 km southwest of Sayona's Authier lithium project and is accessible via gravel roads and logging networks [1][2]. - The area is characterized by low overburden, facilitating exploration activities [1]. Strategic Intent - The company aims to build a strategic portfolio of hard rock lithium projects to complement its existing lithium brine assets [2]. - The management expresses a strong belief in a rebound of lithium prices, indicating a strategic move to establish a multi-jurisdictional lithium company [2]. Regional Context - The Lac Simard South Project is part of an active lithium exploration region in Quebec, which includes Sayona Mining's Abitibi Hub, boasting an aggregate measured and indicated resource of 111 million tonnes grading 1.14% lithium [1][2]. - The region offers lower-cost exploration opportunities compared to other areas like James Bay, with existing infrastructure such as a lithium concentrator and planned conversion plants [2]. Existing Portfolio - American Salars holds two advanced lithium resources in Argentina and a developing lithium asset in Nevada, with a total of 1,217,000 tonnes of Lithium Carbonate Equivalent (LCE) across its projects [8][9]. - The Pocitos 1 project has an inferred resource estimate of 760,000 tonnes LCE, while the Candela II project has an estimated 457,500 tonnes LCE [9][11]. Future Plans - The company plans to initiate a comprehensive work program to identify targets and test areas of immediate interest within the Lac Simard South Project [1]. - Additional projects are under review, with further disclosures expected upon completion of due diligence [7].