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. By spinning Piscau-North into a dedicated Canadian listed vehicle while retaining majority economic interest, we unlock the asset’s value where flow-through capital is available, build dedicated technical and management focus on Quebec exploration, and preserve our shareholders’ continued exposure to the upside. We expect to use a similar disciplined approach across the rest of the portfolio as conditions warrant, said Frank Kristan, President and CEO of American Lithium Minerals
The LOI includes a 60-day exclusivity period and binding provisions covering confidentiality, expenses, and transaction‑cost responsibilities. The transaction is subject to stock exchange approval and customary conditions to be set forth in the definitive agreement.
About American Lithium Minerals, Inc.
American Lithium Minerals, Inc. (OTC: AMLM) is a multi-commodity critical minerals exploration company headquartered in Carson City, Nevada. The Company holds active project interests in gold, silver, copper, lithium, and rare earth elements across Nevada (USA), Chile, British Columbia, Yukon and Quebec (Canada), and Western Australia. AMLM’s portfolio includes 10 active project interests, including the Higginsville gold project in Western Australia, silver and copper exploration in Chile, rare earth interests in Quebec, and lithium properties in Nevada. The Company operates as a pre-revenue exploration-stage entity under SEC reporting requirements and is qualified for retail investor participation through a Regulation A+ offering. For additional information, visit www.americanmineralresources.com, the Company’s investor relations website.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results. Such statements involve a number of risks and uncertainties, including, without limitation, statements regarding the Company’s strategic initiatives, project development plans, expected commodity exposure, anticipated market conditions, the strength of macro tailwinds across critical minerals sectors, and the Company’s ability to advance its multi-commodity portfolio.
Actual results may differ materially from those projected in such forward-looking statements as a result of various factors, including but not limited to: the Company’s ability to successfully advance and finance its exploration projects; the availability and pricing of mineral resources; competitive pressures within the mining industry; commodity price volatility; regulatory developments affecting the mining sector and U.S. critical minerals policy; the Company’s ability to execute on its business plan; risks inherent in exploration-stage mineral companies, including the substantial possibility that exploration activities may not result in commercially viable mineral discoveries; and other risks detailed from time to time in the Company’s reports filed with the OTC Markets Disclosure & News Service.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law.
Investor Contact
American Lithium Minerals, Inc.
1007 South Street
Carson City, Nevada 89701
Telephone: (775) 587-6137
Email: [email protected]
Website: www.americanmineralresources.com
X / Twitter: @AMR_ResourcesAu
LinkedIn: linkedin.com/company/american-mineral-resources
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SOURCE American Lithium Minerals, Inc
