American Lithium Minerals Inc.

American Lithium Minerals Inc. operates as an exploration stage company focused on mineral properties. The company initially commenced operations and in August 2005, acquired an interest in the Raven property, a 524,728-hectare mineral claim located approximately 17 kilometers northeast of Princeton, British Columbia, Canada. However, this interest expired due to a lack of funding, preventing the company from keeping the claim in good standing. Subsequently, pursuant to a mineral property purchase agreement dated June 15, 2009, with GeoXplor Corp, American Lithium Minerals Inc. acquired an option to obtain a 100% interest in 88 unpatented mining claims in Esmeralda County, Nevada. This property is situated approximately 25 miles east of the Nevada-California border and 35 miles southwest of Tonopah, Nevada. The consideration for this acquisition included cash payments totaling $61,000, which have been paid, and the issuance of 250,000 common shares at a market price of $0.48 per share, which have also been issued. Additional consideration involved future cash payments totaling $303,000 over three years and the issuance of an additional 500,000 common shares over two years. The acquisition of this Esmeralda Property was subject to a 3% royalty on the sale or disposition of lithium carbonate or other lithium compounds. The company had an option to acquire up to 2% of this royalty, in whole percentage points, for $1,000,000 per 1%. As part of this acquisition, American Lithium Minerals Inc. also committed to incur $2,000,000 in exploration expenditures over five years. However, the company later elected not to proceed with this property after negotiations with the vendor, resulting in an expense of $295,609 for mineral property impairment during the year related to capitalized costs on the property. Following this, pursuant to a letter of intent dated August 30, 2009, American Lithium Minerals Inc. acquired an option to acquire a 100% interest in 50 mineral claims, also located in Esmeralda County, Nevada, subject to a 3% Net Value Royalty.