American Lithium Minerals signs LOI for Canadian listing of Piscau North at $6 million

American Lithium Minerals, Inc. (OTC: AMLM) signs Letter of Intent for Canadian Listing of the Piscau‑North Project for a deemed value of $6 million American Lithium Minerals, Inc. (OTC: AMLM) signs Letter of Intent for Canadian Listing of the Piscau‑North Project for a deemed value of $6 million PR Newswire CARSON CITY, Nev. , June 4, 2026 /PRNewswire/ -- American Lithium Minerals, Inc. (OTC: AMLM) ("AMLM" or the "Company"), an exploration-stage mining company focused on gold, silver, lithium, rare earth elements, and other critical metals, is pleased to announce that it has entered into a Letter of Intent ("LOI") with 1539914 B.C. Ltd. (the "Purchaser"), pursuant to which the Purchaser proposes to acquire AMR'-s 100%-owned Piscau ‑ North Polymetallic Project in Quebec through a reverse takeover ("RTO") , accompanied by a concurrent financing and a planned listing on a Canadian stock exchange. The LOI outlines the framework for a transaction that would see the Purchaser renamed Canadian Mineral Resources Ltd. or such other name as determined by the Company upon closing.

Under the LOI, the Purchaser will acquire AMLM's 100% owned Piscau ‑ North Polymetallic Project in Quebec, comprising 539 claims totaling ~17,000 hectares . In consideration, AMLM would receive 20,000,000 shares of the Purchaser at a deemed price of $0.30 per share representing a deemed value of $6 million. The transaction includes a concurrent financing , consisting of 5,000,000 units of the Purchaser ("Units") at a price of $0.30 per Unit for gross proceeds of $1,500,000 (the "HD Offering") and 10,000,000 flow-through common shares at a price of $0.40 per share for gross proceeds of $4,000,000 (the "FT Offering").  Each Unit under the HD Offering will consist of one common share of the Purchaser and one-half of one share purchase warrant, with each share purchase warrant exercisable at $0.45 per share.  The proceeds of the FT Offering will be used for Canadian exploration expenses, and the proceeds of the HD Offering will be used for exploration, general and administrative and working capital purposes.

The transaction is part of AMLM's multi-jurisdiction asset development strategy. The Company holds 10 active project interests across seven jurisdictions, structured deliberately across three production horizons, near-term placer production in British Columbia, Western Australia, Tanzania, and the Yukon; mid-term exploration in Chile and Quebec; and long-term critical mineral positions in Nevada and Quebec. The contemplated Canadian listing provides Piscau-North with a dedicated capital and market structure while AMLM retains majority ownership and exposure through its share position in the resulting issuer.

"The Piscau‑North Project is a high‑quality exploration asset, and this proposed transaction provides a potential pathway to unlock its value in a dedicated Canadian exploration vehicle. The contemplated structure — including the reverse takeover, concurrent financing, and Canadian listing — could position the project with the capital, technical oversight, and market visibility needed for its next phase of development. This transaction is the first execution step in a deliberate capital strategy.