American Lithium Minerals : Supplemental Information

SUPPLEMENTAL INFORMATION

AMERICAN LITHIUM MINERALS, INC.

OTC Pink Supplemental Disclosure - Current Reporting of Material Corporate Events

Entry into a material definitive agreement - Claystone Hills Lithium.

Option Agreement to acquire Claystone Hills Lithium Property

On December 23, 2021, American Lithium Minerals, Inc. ("AMLM" or the "Company") entered into an Option Agreement (the "Agreement") with Searchlight Exploration, LLC ("Searchlight"), a related party, to acquire 36 AW placer mining claims and 36 AL lode mining claims, a total of 1,440 acres. The claims are ln Esmeralda County, Nevada on land administered by the United States Bureau of Land Management (BLM).

The foregoing description of the Agreement is qualified in its entirety by reference to the Agreement, which is filed as Exhibit A hereto and incorporated herein by reference.

The property is located approximately 30 miles west of Tonopah, Nevada in the Big Smokey Valley. This basin is adjacent to Clayton Valley, the location of the only presently producing United States lithium facility.

The AW placer claims are viewed by the Company as prospective for brine-hosted lithium. The AL lode claims are viewed as a claystone lithium prospect. As hills of claystone dot these claims, the project has been named the "Claystone Hills Lithium Project."

These claims are adjacent to the "Clayton North" project of Jindalee Resources. Recent drilling by Jindalee resulted in the announcement of 6.1 meters of 1093 ppm lithium and 11.2 meters of 1006 ppm lithium. The claims are also adjacent to the "Smokey Lithium" project of Victory Resources. Victory Resources has reported surface sampling with lithium values of 1,000 to 1,500 ppm lithium.

The option to acquire Claystone Hills Lithium runs until December 31, 2024 at a price of $2,400,000 cash.

Exhibit
Exhibit		Description
A		Option Agreement dated December 23, 2021

Dated: Las Vegas, Nevada

December 27, 2021

/s/ Barbara McIntyre Bauman Barbara McIntyre Bauman, President

Cautionary Language Concerning Forward-Looking Statements:

This filing release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by AMLM. The forward- looking statements should not be construed as an indication in any way whatsoever of the future value of the AMLM. common stock or its present or future financial condition. Statements made herein are as of the date of this filing and should not be relied upon as of any subsequent date. AMLM. cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, AMLM. does not undertake, and AMLM. specifically disclaims any obligation, to update any forward- looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

EXHIBIT A

OPTION AGREEMENT

(CLAYSTONE HILLS LITHIUM)

DATED the 23rd day of December, 2021

BETWEEN:

SEARCHLIGHT EXPLORATION, LLC, having an office at 6440 Sky Pointe Dr., Ste 140-149, Las Vegas, NV 89131

(Hereinafter referred to as the "Optionor")

AND:

AMERICAN LITHIUM MINERALS, INC., having an office at 6440 Sky Pointe Dr., Ste 140-149, Las Vegas, NV 89131

(Hereinafter referred to as "AMLM" or "Optionee")

WHEREAS the Optionor wishes to grant and AMLM wishes to acquire an option to purchase certain mineral interests located in the Coaldale Mining District, Esmeralda County, Arizona, pursuant to the terms and conditions contained herein;

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual agreements and covenants contained herein, the parties agree as follows:

1. DEFINITIONS

For the purposes of this Agreement the following words and phrases shall have the following meanings, namely:

1. "Option" has that meaning ascribed to it in Section 2.1 herein;
2. "Option Period" means the period from the date of this Agreement to and including the date of exercise of the Option or the termination of the Option on December 31, 2024 or otherwise pursuant to the terms and conditions contained herein;
3. "Property" means those mineral interests described in Schedule "A" attached hereto, including any replacement or successor claims, all mining leases and other mining interests derived from any such claims, all claims staked by the Optionor on behalf of , and all Property Rights in relation to the foregoing. Any reference herein to any mineral claim comprising the Property includes any mining leases or other interests into which such mineral claim may have been converted. The foregoing notwithstanding, the Property shall not include any surface rights to a depth of 50 feet, which surface rights, if any, Optionor is retaining; and

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1. "Property Rights" means all licenses, permits, easements, rights-of-way, certificates and other approvals obtained by the Optionor either before or after the date of this Agreement and necessary for exploration of the Property.

2. GRANT AND EXERCISE OF OPTION

Grant of Option

The Optionor hereby grants to AMLM the sole and exclusive right and option (the "Option") to acquire an undivided 100% interest in and to the Property, free and clear of all charges, encumbrances and claims. Concurrent with the execution of this Agreement the Optionor shall deliver to AMLM a conveyance in proper registrable form in favor of AMLM of all right, title and interest of the Optionor in the Property, duly executed by the Optionor and to be held in trust by AMLM for the purposes of this Agreement. AMLM may register or record any such conveyance in its name for these purposes, and AMLM may register this Agreement or notice of this Agreement against title to the Property or any portion thereof.

Cash Payment

In consideration for and in order to maintain the Option in good standing, AMLM shall pay $2,400,000 (the "Cash Payment") to the Optionor on or before the end of the Option Period. AMLM shall also reimburse Optionor for all amounts paid to date to the United States Bureau of Land Management (BLM) with respect to the Prroperty.

Notwithstanding the generality of the foregoing, AMLM may, in its sole discretion, let the Option lapse by giving notice thereof to Optionor, in which case AMLM's obligations hereunder shall terminate as of the date of such notice, provided that AMLM shall still be obligated to make all payments due prior to the date of such notice.

Automatic Exercise If and when AMLM has made the Cash Payment required pursuant to Section 2.2, then the Option shall be deemed to have been exercised by AMLM and an undivided 100% interest shall vest in AMLM in and to the portion(s) of the Property as to which the Cash Payment was made. At such time, the Optionor shall take all necessary steps, if any, to transfer registered title to the Property and all portions thereof, free and clear of any charges, liens or other encumbrances to AMLM as soon as reasonably practicable.

Work requirements

In addition, AMLM is required to expend an aggregate of US$175,000 (the "Aggregate Work Obligation") in Exploration and Development Expenses (as defined in Exhibit B) as follows:

1st Agreement Year	US $25,000 Annual Work Commitment
2nd Agreement Year	US $50,000 Annual Work Commitment
3rd Agreement Year	US $100,000 Annual Work Commitment

"Agreement Year" means, during the Earn-In Period, each annual period with the first Agreement Year commencing on the date of this Agreement and ending on December 31 of each succeeding calender year during the option period.

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1. Any Exploration and Development Expenses incurred by Optionee in excess of the Annual Work Commitment during any Agreement Year shall apply as a credit toward the Annual Work Commitment for the subsequent Agreement Year(s) and toward the Aggregate Work Obligation.
2. If Optionee fails to achieve the Annual Work Commitment during any Agreement Year, and if such failure is not excused by an Event of Force Majeure, then, in order to keep this Agreement in full force and effect, within 30 days after the end of such Agreement Year, Optionee may elect to make a payment to Optionor which shall equal the amount of the Annual Work Commitment for that Agreement Year less the Exploration and Development Expenses actually incurred by Optionee during that Agreement Year. Any such payment shall satisfy the Annual Work Commitment for the Agreement Year to which the payment relates.
3. If for any reason it is subsequently determined that the Annual Work Commitment was not completed during any Agreement Year, then, in order to keep its earn-in rights under this Agreement in good standing, Optionee shall pay the amount of any agreed- upon deficiency to Optionor within 30 days after the parties reach agreement as to the amount of the deficiency, or as the parties may otherwise agree.
4. The Optionee may in its sole discretion accelerate the timing of incurring Exploration and Development Expenses to meet the Aggregate Work Obligation and may exercise the Initial Earn-In Option at any time during the period from the Effective Date to the third anniversary of the Effective Date.
5. Optionor acknowledges that the Consideration Shares will be subject to such resale restrictions and hold periods as may be imposed by applicable securities legislation, and the rules and policies of the Exchange, if applicable.
6. Anything in this Agreement to the contrary notwithstanding, Optionee shall prepare and deliver to Optionor a professional and compliant geological report on the Claims on or before the end of the First Contract Year (December 31, 2022).

3. CONDUCT DURING THE OPTION PERIOD AMLM's Working Right.

During the currency of the Option, AMLM shall have the sole and exclusive working right to enter on and conduct mining operations on the Property as AMLM in its sole discretion may decide. AMLM shall have quiet and exclusive possession of the Property from the date of this Agreement and thereafter during the currency of the Option provided it is in good standing, with full power and authority to AMLM, its servants, agents, workers or contractors, to carry on mining operations in searching for minerals in such manner as AMLM in its discretion may determine, including the staking of additional mining claims whether overtop, contiguous or outside the property lines as outlined in Schedule "A", the right to erect, bring and install on the Property all buildings, plant, machinery, equipment, tools, appliances or supplies as AMLM, acting reasonably, shall deem necessary and proper and the right to remove therefrom or process in any form, quantities of rocks, ores and minerals and to transport them for any purpose. All mining operations conducted by

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AMLM shall be in accordance with good exploration, development, mining and reclamation practice, ind in compliance with all applicable legislation.

Maintenance of Property.

AMLM agrees that during the currency of the Option, AMLM shall carry out sufficient assessment work to maintain the Property in good standing (or pay cash in lieu thereof) and pay all BLM claim maintenance fees, taxes, assessments and other charges lawfully levied or assessed against the Property, except for any part of the Property abandoned pursuant to paragraph 3.3. The Optionor shall transmit promptly to AMLM any notices pertaining to the taxes, assessments and other charges.

Abandonment.

AMLM may at any time, during the currency of the Option, abandon any one or more of the claims which comprise the Property. AMLM shall give the Optionor notice in writing of any abandonment. In the event that any of the claims comprising the Property are abandoned (including the termination of this Agreement without AMLM having exercised the Option), AMLM will retransfer the claims to the Optionor as soon as reasonably practicable. If AMLM abandons the claims after April 1 in any Option Period year, AMLM shall insure only the claims outlined in Schedule "A" are in good standing for a minimum period of one year from the notice of abandonment. In the event that AMLM abandons all or part of the Property pursuant to this Section 3.3, the liabilities and obligations of AMLM shall cease with respect to the Property or the part thereof so abandoned except as outlined above.

Staking and Filing Fees

The parties acknowledge and agree that all claims staked by Optionor (including successor claims on the re-staking of any and all claims described in Schedule "A" attached hereto) within one - half (1/2) mile in any direction of the Property outlined in Schedule "A" during the Option Period shall, if AMLM so desires, form a part of the Property, and AMLM shall hold registered title to any such staked or re-staked claims. AMLM shall reimburse the Optionor for any and all reasonable costs incurred by the Optionor in relation to such staking and / or re-staking, including but not limited to applicable filing fees in relation to such staked or re-staked claims. The Optionor shall provide AMLM with written notice of any and all claims staked or re-staked during the Option Period within five business days of such staking or re-staking.

No Charges

During the currency of the Option, the Optionor and AMLM shall not pledge, mortgage, charge or otherwise encumber their beneficial interest in the Property or their rights under this Agreement, except as otherwise mutually agreed upon.

4. REPRESENTATIONS , WARRANTIES AND COVENANTS OF THE OPTIONOR 4.1 Representations and Warranties.

The Optionor represents and warrants to AMLM that:

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