Shareholders are directed to the filed Agreements as mentioned in this Press Release in order to
fully understand the nature of this transaction as well as all geographical co-ordinates listed in the
Exhibits.
The salient initial points to which we wish to draw your attention to is as follows:-
- The Silverpeak Project consists of 24 Lode and 27 Placer Claims divided into three Claim
Blocks totaling some 1,020 acres; and
- These claims are located in Esmeralda County, Nevada; and Portions of the following:
Silverpeak Uranium: Township 2N, Range 37E Sections 32, 33 and 34
Powerline Lithium (brine): Township 2N Range 39 E Section 7
- Beacon Lithium (brine): Township 2N Range 38 E Section 33 and 34 and Township 1N Range
38 E Sections 3 and 4.
The claims are 30 to 40 miles west of Tonopah, Nevada. All three (3) claim blocks are easily
accessed from US Highway 95, Nevada Highway 265 and well-maintained unpaved roads.
- The northerly tip of the Silverpeak Mountains have been known since 1952 to host a uranium
occurrence (known as “Coaldale” as it is three (3) miles south of Coaldale Junction). AMSL
began evaluating the area in 2015 and continued its study during the Trump Administration,
which had identified uranium as a US national priority. AMSL staked the 24 CDU and
Silverpeak lode claims during the period from February 2020 through January 2, 2021; and
- A few miles to the east of the Silverpeak uranium claims is the Big Smokey Valley, which is
immediately north of Clayton Valley, home of the United States’ best-known (and only
presently-producing) lithium facility; and
- Drilling by the USGS / US Department of Energy in the 1970’s identified lithium in sediments
and brines under or adjacent to the Smokey Valley Playa. This was the same government
initiative that also drilled Stonewall Flat, AMSL discovery project located in Lida Valley,
immediately to the south of Clayton Valley. (See USGS Open-File Report 81-962.) During
the 3rd Quarter of 2021, AMSL identified two lithium brine targets in Big Smokey Valley; and
- Lithium Brine Targets were (1) Powerline Area, an apparent site of USGS borehole AF-13.
12 “MCL” placer claims were staked here; and (2) Beacon Area, a small playa next to Nevada
Highway 265 which displayed similarities to the SE claim block at Stonewall Flat. 15 “BJ”
placer claims were staked here; and
- Trenches and open pits from prior gold and / or uranium mining / exploration are located on
the Silverpeak claims; and
- The southern Smokey Valley is a closed intermontane basin surrounded by largely volcanic
mountains, some of which are lithium bearing. Claystone on the property would likely have
been deposited when the basin was occupied by a lake during a past period of wetter climate.
The Uranium occurrence in the northerly Silverpeak Mountains is found in veinlets located in
a small hill of welded tuff.
- As with AMSL’s Company’s Stonewall Flat property, the potential is seen to be a brine deposit
similar to the Clayton Valley deposit which, for many years until the present, has been the only
producing United States lithium deposit.
Bullish
AI
