VANCOUVER, BC – MAY 1st, 2025 – TheNewswire - AMERICAN SALARS LITHIUM INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY) announces it has signed a Letter of Intent (“LOI”) with an arms length Vendor to acquire a 100% interest in the Cauchari Minas Ines 01 Lithium Salar Project (“Cauchari” or  “Project”), located on the south end of the Cauchari Salt Lake, Department Los Andes in the Province of Salta, Argentina.

 

The Cauchari Ines 01 claims cover an area of approximately 1,235 hectares, and contain concentrations of lithium, sampled up to 383 ppm Li taken from a depth of 30cm below the salt crust. Access to the Project is through the city of Salta, via Road 51 passing the town of San Antonio de Los Cobres, and continuing approximately 80km to the nearby Cauchari Salt Lake. The Project area is accessed entering the Salt Lake through existing mining tracks and roads and located 13km from the Rincon salar owned by Rio Tinto.

 

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Figure 1. Map of the Cauchari Ines 01 concession and surrounding lithium producers

Cauchari Lithium Brine Project Overview

• Fully owned, over 12 sq km concession, stand-alone potential with 50% on salar 

• Adjacent to world class operators of lithium plants  

• Known geological district with significant Li K sampling results 

• Immediate proximity to roads, railroads, electricity and gas pipelines infrastructure 

• Near San Antonio de los Cobres and Pocitos Industrial centre, easy road access to Chile ports 

 

American Salars CEO & Director R. Nick Horsley states, “The potential of this section of the Salar de Cauchari is immense. Cauchari is a proven producing Salar operated by Exar – Ganfeng & Lithium Argentina that produces battery grade lithium carbonate. The Company will look to continue to increase its footprint on the Cauchari and Pocitos Lithium projects.”

Cauchari Mining Potential

 

Data from reconnaissance exploration programs suggests that the Cauchari Salt Lake is underlain by a structurally controlled sedimentary basin that forms an aquifer of over 250 square kilometers, and asymmetric, with maximum depths from 100 - 500 m along the eastern margins. No effective porosity determinations have yet been made on the aquifer, but by analogy with similar aquifers may be in the region of 4-20%. Structural geology survey suggests a shear fault zone through the concession oriented north south that could be an aquifer conduit.

 

To the North of the Company’s Cauchari Ines 01 claims, two important and advanced projects are actively being developed, both on Cauchari and Olaroz Salt Lakes, with successful results from an exploration and pilot plant perspectives. The surface of the Cauchari Salar is a light brown lime-earthy layer, there are typical millimetre thick salt efflorescence which include chloride and sodium sulfate and to a lesser extent calcium carbonate and calcium sulfate (gypsum).

 

The Project is located on a carbonate platform generated by the late (geyser) volcanic activity, whose water loaded with minerals decanted in this basin. The geyser activity provided the majority of the chemical elements which caused the mineralization in these salt lakes. Some of these minerals are borates, sulfates, carbonates and brines rich in lithium, potassium, boron and rare earths. Significant concentrations of lithium were determined in brines from the Cauchari Salt Lake area, at the northern end of the Company’s claim boundary.

 

Cauchari Geology

 

Within the Project area, outcrops of Ordovician sediments occur and above these sediments and in a discordant way there are tertiary sedimentary outcrops of Group Pastos Grandes and equivalents and tertiary vulcanites from the eruptive complex El Quevar. The quaternary can be differentiated in evaporitic sediments from Cauchari Salt Lake, clastic sediments forming alluvial cones and travertine limestones with hydrothermal origin.

 

Geoforms in Endorreic Basins

 

The Project area is part of the Cauchari Salt Lake basin. The total area of this basin is approximately 2,550 square kilometres. The Cauchari Salt Lake is extended and narrow-shaped, sub-meridian oriented spanning 40 km long. Its irregular borders are characteristic due to the influence of numerous alluvial cones which cause marked narrowing. Cauchari is a typical earthy Salt Lake, with a small participation of halite crystalline mass with a layer of greenish-brown lime-earth. Over the surface there are efflorescences and halite crusts, also gypsum.

 

Historically, this Salt Lake produced the biggest amount of borax minerals, especially ulexite and tincal in a smaller amount. The mineralization of ulexite is concentrated along the occidental side of the Salt Lake. The origin of this mineralization is directly related to boratiferous spillage, from the fracture located at the bottom of the Cauchari sierra. Besides that it is important to take into account that the river Olacapato, whose origins are located in the thermal waters of Tocomar and Antuco, contributes with important saline contents; thus, a brine concentrated in borates, with high amounts of lithium (900 ppm), one of the highest in the Puna, is added to the mineral resource of the salt lake.

 

Water bodies in the area of reconnaissance

 

From the hydrographic point of view, the area belongs to the endorreic basin of the Salt Lake of Cauchari. Due to its length and volume, the most important collector is the river Tocomar, originated by the numerous thermal springs (thermal spring Tocomar and Antuco). This river has caused a vast alluvial plain that is in contact with the side of the Salt Lake through a wide unfunctional cone. Only during the rainy season, the river pours down in the Salt Lake itself, and at the same time a group of springs appear in the nearby areas.

 

Nearest town

The nearest settlement is Olacapato at 22km from the area under study. It has 169 inhabitants, a first-aid post, a small police station, primary school, hostel, 24-hour electricity and semipublic telephone service.

The town of San Antonio de Los Cobres is the most important town and head of the Department Los Andes. It has 4,763 inhabitants according to the 2010 Census. It has a hospital, primary

 

Figure 2. Claims outline and Satellite View of the Salar de Cauchari Minas Ines 01 claims

Figure 3. Geological Claims Map of the Salar de Cauchari Minas Ines 01 claims

 

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Figure 4. Minas Ines 01 Site visit Salar de Cauchari

 

Additionally, the Company has announced a settlement agreement with Ekeko SA in regards to the lien placed on the Pocitos1 project from a shortfall payment by Recharge Resources SA. The Company has agreed to $200,000 USD in cash payments for a full release of all liabilities and claims against Recharge Resources SA the holder of the Pocitos 1 tenement. A payment of $130,000 USD is due May 15th, 2025, with a second payment of $70,000 USD due September 15th, 2025.

 

American Salars Lithium – Argentina Lithium Salar Portfolio of Projects

 

Salar De Pocitos Project

 

The Salar Pocitos Project is located approximately 100 kilometers west from San Antonio de Los Cobres which is the largest city at the top of the puna and approximately 250 kilometers west of the Provincial Capital, Salta. The Pocitos Project benefits from some of the best infrastructure on the puna including Provincial Highway Route 17 and the Pocitos industrial Park settlement that has a natural gas pipeline and near the railway and highway that runs through the salar to the Port of Antofagasta on the Chilean Pacific Coast.

 

The Company’s initial 800 hectare Pocitos 1 claim has an NI 43-101 Mineral Resource Estimate (“MRE”) prepared by WSP Australia. The MRE inferred estimate was 760,000 tonnes of Lithium Carbonate Equivalent (“LCE”) based on an in-situ lithium metal equivalent of 143,000 tonnes on the combined Pocitos 1 (800 Ha) and neighbouring Pocitos 2 block (532 Ha). On a pro-rata basis Pocitos 1 has 456,000 tonnes of LCE insitu. (American Salars does not currently own the neighboring 532 Hectare Pocitos 2 block - See Press Release Dated June 17, 2024). The NI 43-101 MRE was estimated on an inferred basis using a block model with 6% and 14% porosity respectively for the clay and sand lithologies. Completing borehole magnetic resonance surveys will provide continuous and higher accuracy of porosity possibly leading to an upgrade of the resource.

American Salars signed a letter of Intent (see Press Release Dated March 3, 2025) to acquire an additional 13,080 hectares on the Pocitos Salar, which has been the subject of numerous exploration campaigns including drilling, surface sampling and geophysics. The next phase of work on this World Class Project’s development will be to compile data from all the combined Pocitos tenements to assess the required work in order to tie the existing drill holes together and update the Company’s NI 43-101 MRE. Scoping and feasibility studies will follow the data compilation and move the project forward towards the Company’s goal of seeing the Pocitos Project through to commercial production.

    

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Figure 5. Salta Argentina Lithium Salar Projects Map

 

Qualified Person

 

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release regarding Argentina properties, and has approved the disclosure herein. Mr Thomas is a shareholder of American Salars lithium shares.

About American Salars Lithium Inc.

 

American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market. The Company's has a diversified portfolio of Lithium Brine and Hardrock Projects in North and South America.

 

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, TikTok, Facebook and Instagram.

 

On Behalf of the Board of Directors,

 

“R. Nick Horsley”

R. Nick Horsley, CEO

For further information, please contact:

American Salars Lithium Inc.
Phone: 604-740-7492
E-Mail: info@americansalars.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

 

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.