HENDERSON, NV, April 18, 2012 /PRNewswire/ -- AmeriLithium
Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company")
is pleased to announce that on April 13,
2012, the Company signed a Letter of Intent (the "LOI") with
Australia-based Strategic Resource
Management Pty Ltd. ("SRM"), thereby entering into a joint venture
("JV") related to Australian mining properties held by or to be
held by the Company (SRM and the Company, together, the "JV
Partners"). The purpose of the JV is to manage, develop and oversee
the mining of such properties in Australia. In particular, the JV Partners have
agreed to commence initial exploration on three of the Company's
current Western-Australia lithium
assets.
Among the JV's initial activities was the filing of an
application for the Government Co-Funded Exploration Drilling
Grant. The application was filed on March
30, 2012 with the Government of Western Australia, Department of Mines and
Petroleum. By filing the application, the JV Partners hope to take
advantage of the Australian government offer of up to AUD$150,000
which can be applied toward the drilling costs on multi-hole
exploration projects. The public announcement of successful grant
candidates is planned for early June
2012.
The JV's Grant Application included the following:
- Request for AUD$125,000
- Planned 10 drill traverses testing 11 prospective targets
- Coincident lithium and gold targets
- Hole depths planned at 40m depths on 100-200m spacings
- Planned 250 RAB holes for drilling at a total cost of
AUD$250,000
The Company's three Australian assets cover over 43,000 acres
around and abutting Lake Dumbleyung, Western Australia.
While the primary motivation behind commencing an exploration
program is the identification of lithium potential, additional
motivation stems from (i) the potential to take advantage of the
Co-Funded Drilling grant offering, and (ii) the opportunity to
explore for gold concurrently while exploring for lithium.
JV & STRATEGIC RESOURCE MANAGEMENT ("SRM")
Within the JV, SRM's roles will include, among other things,
managing payments to meet tenement conditions; ensuring all
government documentation is properly prepared and filed relating to
the Australian Assets; providing management, planning and
administration of all the Australian functions; and investigating
new opportunities in Australia.
SRM is led by Andrew Spinks and
Robert Hodby. Mr. Spinks is a
geologist with over 20 years professional experience in nickel,
gold, coal, iron ore and diamonds in Australia and Africa. He has performed in diverse roles from
grass roots exploration to senior management in exploration,
project development and mining. Andrew holds a Bachelor of Applied
Science (Geology), Graduate Diploma (Mining), Western Australia
Quarry Managers Certificate, and is a member of the Australasian
Institute of Mining & Metallurgy. Mr. Hodby, holds a Bachelor
of Commerce from Murdoch University and is a member of CPA
Australia and Chartered Secretaries Australia. Further, Mr. Hodby
provides corporate, management and accounting advice to a number of
companies involved in the resource and energy industries.
Mr. Matthew Worrall, the
Company's Chief Executive Officer, commented: "Our main focus
remains our lithium projects in Nevada. At the same time, this JV with
Strategic Resource Management will enable us to effectively and
simultaneously advance our preliminary exploration plans in
Australia and assess the potential
of our assets there, both in terms of lithium and gold
potential."
FOR MORE INFORMATION
More information on the Australian holdings, 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 Henderson, NV. AmeriLithium has amassed a
Lithium portfolio consisting of ~727,219 acres, including four
Nevada-based projects nearby the
only Lithium producing plant in the
United States, a large project in Alberta, Canada, and a project in Western Australia.
ON BEHALF OF THE BOARD OF DIRECTORS,
AmeriLithium Corp.
Matthew Worrall, Chief Executive
Officer
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking
statements. These statements relate to future events or to
our future financial performance, and involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance, or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. You should not place undue
reliance on forward-looking statements since they involve known and
unknown risks, uncertainties and other factors which are, in some
cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our
current views with respect to future events and is subject to these
and other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and
liquidity. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to
update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new
information becomes available in the future.
Contact:
AmeriLithium Corp
871 Coronado Center Dr.
Ste. 200
Henderson
Nevada
89052
Phone: (702) 583-7790
Fax: (702) 583-7791
Email: info@amerilithium.com
Facebook: www.facebook.com/AmeriLithium
Twitter: www.twitter.com/amerilithium
Web: www.AmeriLithium.com
INVESTOR RELATIONS:
Toll Free: 1-888-982-6374
Email: ir@amerilithium.com
SOURCE AmeriLithium Corp.
