American Lithium Minerals Announces the Appointment of Mr. Patrick Reid to the Board of Directors
15 Abril 2010 - 9:15AM
Marketwired
American Lithium Minerals, Inc. (OTCBB: AMLM)
(www.Americanlithium.com) (the "Company") announced today the
appointment of Mr. Patrick Reid to the Board of Directors.
Mr. Reid comes to American Lithium Minerals with a long history
of mining and public company experience. Mr. Reid is the former
President of the Ontario Mining Association (1984 - 2004) and
former M.P.P. (Rainy River, 1967 - 1984). Mr. Reid brings in excess
of twenty years experience associated with the mining industry to
American Lithium Minerals and is currently Chairman of Probe Mines
Limited, a Director of Canstar Resources Inc and a Director of
Valencia Ventures Inc. While President of the O.M.A. he was
instrumental in establishing "Ontario Mining Week" to raise public,
government and industry awareness of the contribution of the mining
industry to the daily life of Ontarians and the prosperity of the
Ontario economy. His experience will contribute to the Company's
strategic goal of becoming a precious metal producer.
About American Lithium Minerals American Lithium Minerals, Inc.
is an early stage lithium exploration company engaged in
evaluating, developing and acquiring lithium projects, with a focus
on the USA. The Company is actively working on the Montezuma
Valley, Nevada lithium brine property acquired in 2009 and the
development of its newly acquired North and South Borate Hills
projects. With the United States government's growing interests in
domestic production of lithium being such an important component of
their green energy plan, it will become more and more advantageous
to control significant resources of this particularly important
element.
About Lithium As a result of lithium-ion battery demand for
hybrid-electric and electric cars, the increase in demand for
lithium carbonate is expected to increase four-fold by 2017. High
demand and low supply has already pushed lithium carbonate (Li2CO3)
prices to US$6,600.00 per ton. There is currently only one producer
of lithium carbonate in the United States, Chemetall's Clayton
Valley Operation. The Great Basin of the United States represents
excellent potential for the discovery of new lithium brine deposits
and American Lithium Minerals is well positioned for detection with
its projects. Lithium is used for batteries, specialty glass,
lubricants, pharmaceuticals and lithium alloys. Lithium ion
(Li-ion) batteries have become the rechargeable battery of choice
in cell phones, computers, hybrid-electric cars and electric cars.
GM, Ford, Toyota, Dodge, Chrysler, Mitsubishi, Nissan, Tesla,
Saturn and Mercedes-Benz have all announced plans to build Li-ion
battery-powered cars. Demand for lithium-powered vehicles is
expected to increase fivefold by 2012. The domestic automotive
industry must secure a lithium source to supply the next generation
of hybrid-electric and electric vehicles. Over 60% of cell phones
and 90% of laptops use lithium batteries. The worldwide market for
lithium batteries is estimated at over $4 billion per year.
Forward-Looking Statements Actual results could differ from
those projected in any forward-looking statements due to numerous
factors. Such factors include, among others, the inherent
uncertainties associated with mineral exploration and difficulties
associated with obtaining financing on acceptable terms. We are not
in control of lithium prices and these could vary to make
development uneconomic. These forward-looking statements are made
as of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that the beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our most
recent annual report for our last fiscal year, our quarterly
reports, and other periodic reports filed from time-to-time with
the Securities and Exchange Commission.
For Additional Information, Contact: Stephen Cook Vice
President/Investor Relations Tel: 877-717-2656 E-mail:
info@americanlithium.com
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