AMLM Signs Earn-In Agreement to Earn Up to 85% Interest in Yuinmery Gold Project, Positioning Company for Significant Exploration Growth

Majority ownership requires staged exploration spending, while the agreement remains conditional on license-related regulatory exemptions.

Rhea-AI Summary

American Lithium Minerals (AMLM) signed a binding agreement with Golden Mile Resources to earn up to an 85% interest in the Yuinmery Gold Project.

The agreement grants exclusive exploration rights over Western Australia's Exploration License E57/1043. An initial 51% interest requires A$500,000 in exploration spending: an initial A$100,000 commitment plus A$400,000 in qualifying activities within three years of commencement. A further A$500,000 within five years of commencement would earn another 34%. The agreement is conditional on Golden Mile obtaining regulatory exemptions related to extending the license term. Once that condition is satisfied, AMLM plans to begin exploration to evaluate the property's gold potential.

4 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointBinding agreement grants AMLM exclusive exploration rights over Exploration License E57/1043.
• Minor point. Forward-looking: it has not happened yet and may not happen.Initial 51% interest can be earned through A$500,000 in exploration expenditures.
• Minor point. Forward-looking: it has not happened yet and may not happen.Additional 34% interest can raise AMLM's ownership to 85% through further exploration spending.
• Minor point. Forward-looking: it has not happened yet and may not happen.Planned exploration program will evaluate the property's gold potential after the condition is satisfied.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.Initial A$100,000 commitment plus A$400,000 in qualifying exploration within three years of commencement funds the first stage.
• Minor point. Forward-looking: it has not happened yet and may not happen.Further A$500,000 expenditure within five years of commencement is required to earn the additional interest.
• Minor pointRegulatory exemptions pending: Golden Mile must obtain exemptions related to extending Exploration License E57/1043's term.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CARSON CITY, Nev., Nov. 02, 2026 (GLOBE NEWSWIRE) -- American Lithium Minerals Inc. (OTC: AMLM) today announced the execution of a binding Farm-In Agreement with Golden Mile Resources Limited under which AMLM may earn up to an 85% interest in Exploration License E57/1043, located in the prospective Youanmi Gold Project region of Western Australia.

The agreement provides AMLM with exclusive exploration rights over the tenement and a structured pathway to majority ownership through staged exploration expenditures.

Under the terms of the agreement, AMLM may earn an initial 51% interest by funding A$500,000 in exploration expenditures, consisting of an initial A$100,000 commitment followed by an additional A$400,000 of qualifying exploration activities within three years of the commencement date. Upon completion of these expenditures, AMLM will be entitled to receive a 51% interest in the tenement. AMLM may earn an additional 34% interest, increasing its ownership to 85%, by funding a further A$500,000 in exploration expenditure within five years of commencement date.

The agreement is subject to a condition precedent requiring Golden Mile Resources Limited to obtain regulatory exemptions related to the extension of the term of Exploration License E57/1043. Following satisfaction of this condition, AMLM intends to commence a comprehensive exploration program focused on evaluating the property's gold potential.

Management Commentary

Frank Kristan, Director and Secretary of American Lithium Minerals, commented:

"This transaction represents a significant step forward in AMLM's strategy of acquiring and advancing high-quality mineral assets in premier mining jurisdictions. The Yuinmery Project provides an opportunity to secure a controlling interest in a highly prospective exploration property in Western Australia, one of the world's leading mining regions. We believe this agreement positions AMLM to create substantial shareholder value through systematic exploration and potential resource development."

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 11 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.( www.americanmineralresources.com)

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.

Investor Contact

American Lithium Minerals, Inc.
1007 South Street
Carson City, Nevada 89701
Telephone: (775) 587-6137
Email: info@americanmineralresources.com
Website: www.americanmineralresources.com
X / Twitter: American Mineral Resources (OTCID:AMLM) (@AMR_MineralRes) / X
LinkedIn: linkedin.com/company/american-mineral-resources

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much of the Yuinmery Gold Project can AMLM earn under its agreement?

AMLM may earn up to an 85% interest in Exploration License E57/1043. The agreement provides an initial 51% interest for A$500,000 in exploration expenditures, followed by an additional 34% for a further A$500,000 within five years of commencement.

What condition must be met before AMLM begins its planned Yuinmery exploration program?

Golden Mile Resources must obtain regulatory exemptions related to extending the term of Exploration License E57/1043. AMLM intends to begin its exploration program after that condition is satisfied.