American Salars acquires K20 Minerals and Lake Throssell SOP project in Western Australia
Key facts
- All-stock takeover
VANCOUVER, BC, AUGUST 28, 2026 – TheNewswire - AMERICAN SALARS LITHIUM INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY) is pleased to announce that it has entered into a share exchange agreement dated August 27, 2026 (the "Agreement") with 1269280 WA Pty Ltd and its wholly owned subsidiary K20 Minerals Pty Ltd, Australia ( "K20" ) and all of the shareholders of K20 to acquire 100% of the issued and outstanding shares of K20 (the "Transaction" ). K20 holds a 100% legal and beneficial interest in exploration licence E38/3065, covering approximately 296 square kilometres (29,600 hectares) in Western Australia, which the Agreement identifies as the Lake Throssell sulphate of potash brine project (the "Project" or “Lake Throssell” ).
Click Image To View Full Size
Figure 1. Aircore drilling at Lake Throssell by former operator
The Project hosts a Mineral Resource Estimate ( “MRE” ) Update February 13, 2023 1 , prepared by Aquifer Resources Pty Ltd for a prior owner and reported as a Lake Throssell mineral resource estimate in accordance with the JORC Code (2012 Edition). The historical estimate was based on drilling, brine sampling, monitoring bores, borehole magnetic resonance logging, particle-size distribution analysis and aquifer testing.
The historical technical record also includes an October 2021 scoping study 2 prepared for a prior owner. Consistent with NI 43-101, the Company is not disclosing the results of that historical study in this news release.
According to Business Analytiq July 2026 regional potassium sulphate benchmarks were approximately US$730 per metric tonne in North America, US$520 per metric tonne in Europe, and US$600 per metric tonne in Northeast Asia. 3