(TheNewswire)

VANCOUVER, BC TheNewswire – MAY 7 th 2025 American Salars Lithium Inc. (‘AMERICAN SALARS’ OR THE ‘COMPANY’) (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces that it has commenced a Phase 2 sampling program on its 100% owned, highly prospective 18,083 Hectares (180 sq km) Hardrock LCT (‘Lithium-Cesium-Tantalum’) Pegmatite Project including Rare Earth Elements (‘REEs’) and Critical Minerals (the ‘Jaguaribe Project ‘).

The Jaguaribe Project is located in the Jaguaribe/Solonópole region in the State of Ceará, in Northern Brazil and hosts multiple extensive Lithium and REE bearing pegmatite dykes that have returned initial Phase 1 sample discoveries of up to 3.72% Li 2 O, 2.15% Li 2 O and 1.58% Li 2 O as well as 554.5 ppm of Cesium,
135 ppm of Tantalum, 177 ppm of Niobium. One sample showed high values for Rubidium (>10,000ppm); Tin (675 ppm) and Zinc (387ppm).

American Salars CEO & Director R. Nick Horsley states, ‘ We are thrilled to launch the second phase of exploration at our Jaguaribe Project, building on the promising lithium and rare earth element (REE) discoveries from phase one. Brazil is a global hub for hard rock lithium production, and our Jaguaribe Project, located in a well-known pegmatite district, has already yielded high-grade lithium samples and significant REE values. This next phase will focus on identifying and sampling additional pegmatites to further delineate the scale and quality of this critical mineral-rich region.’

The initial phase 1 exploration program revealed multiple long and wide pegmatite dykes that measure up to 30 meters in width and up to 300 meters in length that are largely unexplored. American Salars has secured field crews, a Brazil focussed senior geologist, and lithium specialist QP to oversee a more extensive Phase 2 work program to map new pegmatite outcrops as well as sampling new and known areas of mineralization. The Company has secured sampling and exploration crews and is working with local Brazil based geological consultants to help plan a follow up drilling program to test priority targets.

About the Jaguaribe Property

• Initial sampling of the Jaguaribe Pegmatites returned Spodumene bearing pegmatite samples that graded up to 3.72% Li2O as well as Rare Earth Elements.

• Phase 2 sampling will test multiple additional LCT Pegmatite targets.

• Ideal project location – Historical Pegmatite Province Brazil.

• 4-hour drive on paved roads to port and international airport (Fortaleza).

• The topography, land use and vegetation at Jaguaribe Property is well suited for exploration activities.

• Arid, sparsely populated farmland, no rain forest.

• Northern Brazil provides shipping routes and deep-water ports to North American and European battery chemical markets.

Click Image To View Full Size

Figure 1. Geological Map of the Solonópole/Jaguaribe Region, with location of the Jaguaribe claim blocks shown in YELLOW color .

Multi elements ICP analysis (55 elements) of 13 pegmatites sampled across the Jaguaribe Project, returned: Lithium, Rubidium, Tantalum and Niobium. Of the 13 samples, one (VM-EJ-R-01) is mineralized with Lithium at (3.72% Li2O), a normal occurrence, because it was the first geological reconnaissance work carried out on the Project. The presence of Li bearing Lepidolite and Spodumene minerals were observed in the pegmatites during the initial fieldwork.

Pegmatite VM-EJ-01 is an LCT (Lithium-Cesium-Tantalum) pegmatite, in addition to samples of 3.72 Li2O, anomalous values of 554.5 ppm of Cesium and 135 ppm of Tantalum were recorded, accompanied by 177 ppm of Niobium and high values for Rubidium (>10,000ppm); Tin (675 ppm) and Zinc (387ppm). Initial fieldwork also detected two additional pegmatites with 2.15% and 1.58% Li2O, respectively, which led to the exploration and acquisition of the 10 claim blocks that make up the Jaguribe Property.

Click Image To View Full Size

Figure 2. LCT pegmatite Outcrops and Surface Samples from vein in a North -Northeast direction and embedded in gneiss.

Figure 3. Location of the Pegmatite Districts of Ceará, Brazil.

Geochemical Characteristics of Pegmatites, Jaguaribe Project, Ceará, Brazil

A multi-element analyse was conducted at the SGS laboratory for 58 elements including REE, from 12 samples from the Jaguaribe Project. These samples were analyzed by the ICM90A method: determination with fusion in sodium peroxide-ICP OES/ICP MS.

Geochemistry of the Pegmatites samples from the Jaguaribe Project area, was compared with the standard sample or standard analysis provided by the SGS laboratory, with the common elements and their contents in an LCT-type Pegmatite (Lithium, Cesium and Tantalum).

The pegmatite from the VM-R-01 Pegmatite sample, which contained Lepidolite and a content of 1.54% Li 2 O, shows a strong geochemical correlation with the standard sample, in terms of the contents of Li, Cs, and Ta, the latter being much higher (135 ppm Ta) than the Ta content of the SGS standard sample (18 ppm Ta). The VM-R-1 sample also shows a correlation with the SGS standard, in terms of Rb, Nb, Sn and P. Other pegmatite samples from the Jaguaribe Project, namely VM-R-6 and VM-R-7, are iron enriched and present less marked correlations, in relation to the contents of the standard sample only in the elements Li, Rb and Ba, although they show anomalous geochemical values of Cs.

The results of the VM-R-8 and VM-R-10 analyses show a good correlation with the results of the SGS standard sample, regarding the contents of Rb, Ba, Cs, Ta, Nb and P, but the Li levels fell, respectively, to 110 ppm and less than 10 ppm. This sharp drop in the Li levels of these samples is mainly due to the leaching of Li minerals by surface waters, notably Spodumene, a phenomenon observed in most of the pegmatites in the region, whose Li levels increase substantially in the subsurface in mining pits, in the companies’ research excavations and mainly in drill holes.

QUALIFIED PERSON

The technical content regarding the Jaguaribe Project, in this release has been reviewed and approved by Mitchell E. Lavery, P. Geo, who is an Independent Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

ABOUT AMERICAN SALARS

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.

All Stakeholders are encouraged to follow the Company on its social media profiles on , , TikTok , 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.

Copyright (c) 2025 TheNewswire – All rights reserved.

(TheNewswire)

V ANCOUVER, BC T heNewswire May 7, 2025 Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS) (‘Element79’, or the ‘Company’) provides the following updates on multiple corporate initiatives underway:

Update on Sale of Nevada Assets to 1472886 BC Ltd.

As first outlined in the Company’s news release on September 9, 2024, and updated on October 10, 2024, the Company has made multiple attempts to push this transaction towards completion, with the counterparty being unable to meet terms required to complete a successful closing.  As the original timelines of the LOI have expired, the Company holds that the contract with 1472886 BC Ltd. is null and void and has restarted conversations with alternate parties that have expressed interest in the purchase of the Stargo, Elder Creek and North Mill Creek projects.

Update on Financing: Crescita Capital Note Draw

In the month of April 2025, Crescita issued CAD $100,000 of capital to the Company, for use in advancing community efforts for the Lucero project, investor relations activities and general corporate purposes.  Similar to the first draw from the new 2025 Crescita Draw Down Facility as announced on February 28, 2025, the convertible note drawn will carry a simple interest rate of 15% per annum until repaid or converted into shares of the Company.

The general use of funds for any financing efforts that the company engages in in the immediate term, including the strategic sale of corporate assets, will be sequentially to pay mineral leases for its projects in Peru and Nevada; complete its OTCQB uplisting; general corporate operating expenses and address key accounts payable.

Update on Chachas community progress, strategic review of Lucero

Representatives of Element79 Gold Corp and its community relations team, GAE Peru, attended a series of meetings in both Chachas, Arequipa and Lima between the April 21 st and May 3rd, yielding the following report on continued progress towards forging long-term surface rights access and therefore access to its past-producing Lucero mine for exploration and mineral exploitation activities.  A summary of GAE’s report for April 2024 is provided below.

Ongoing Challenges with Informal Mining (REINFO)

The report highlights the presence of 102 active informal miners registered under the REINFO framework are operating in the general Chachas region, with an estimated 350 more operating around Chachas without formal status. Many of these actors are reported to have been extracting ore illegally for around, if not over, a decade. While the federal REINFO was established as a route to Formalization, it has often been used in practice to legitimize illegal mining operations. The main local artisanal mining association, Asociación Lomas Doradas, comprising 65 such miners, has shown limited interest in engaging with Element79 Gold Corp, although a small group within their Tonalita concession may pursue Formalization.

In addition to the above, there is a separate contingent of REINFO miners willing to enter into an exploitation agreement with Element79 Gold Corp. Discussions are ongoing, with a key meeting roughly scheduled during the first half of May 2025. The situation remains complex, as community members and REINFOs have taken measures such as blocking access routes with guarded checkpoints and reportedly seek to establish their own mineral processing plant on communal land.

Strengthening Community Relations

Since September 2024, GAE Peru has actively engaged with residents across six annexes of Chachas through meetings and two large-scale general assemblies. For its consistent presence and attendance at community meetings, Element79 Gold is increasingly recognized in the region, maintaining open lines of communication via its local Social Management Office. Support from the current communal leadership, particularly President Melitón, has been instrumental in fostering constructive dialogue. A critical extraneous assembly to discuss long-term agreements is scheduled for July 2025.

Focus on Value Creation and Negotiation

The Company remains committed to a comprehensive value-generation plan that includes exploration, exploitation, and operation of a mineral processing facility. Local communities have expressed high expectations for future economic benefits, particularly in the form of irrigation and agricultural development support, as outlined by the Chachas Irrigation Commission and local farmers from Chachas and Nahuira.

Path Forward Through Dialogue

During the most recent communal assembly in April and subsequent smaller assembly and group meetings, stakeholders within the Chachas region have continued dialogue with Element79 Gold Corp, bypassing the uncooperative leadership of the Lomas Doradas Association. A formal dialogue session with the communal board (JJDD) and local administrative leaders (JAL) is scheduled for May 15, 2025.

Government Oversight and Legal Pathways

The GREM (Regional Mining Office) of Arequipa has acknowledged the limited timeframe for formalizing current REINFO miners in Chachas. Beginning in June 2025, GAE Peru, on behalf of Element79 Gold Corp, will request GREM’s oversight to enforce legal regulations under the new Small-Scale and Artisanal Mining Law (MAPE), enabling coordinated action against ongoing illegal mining.

Commitment to Responsible Development

Element79 Gold reaffirms its commitment to responsible mining and community development, emphasizing the importance of dialogue and mutual respect as it advances the Lucero Project toward future production.

James Tworek, Element79 Gold Corp CEO and Director stated: ‘The potential of Lucero remains a key motivation and driving force behind the Company’s decision making, and we remain cautiously optimistic that the upcoming June 30 deadline for Formalization between REINFOs and mineral right holders will continue to bring us closer to the goal of forging long term contracts with the local miners and greater Chachas community.  While we progress in community relations month by month, we’re living the reality that relationship building and trust creation are exercises in communication, persistence, patience and mutual understanding.

In the interim, recent team due diligence trips to review additional assets in Peru and Nevada, along with strategy sessions with advisors and key investors in the Company have opened our eyes to a number of possible alternate growth strategies.  We look forward to reporting on these initiatives in the coming months.’

For further details on this announcement and the Company’s projects, please visit www.element79.gold

About Element79 Gold Corp.

Element79 Gold Corp. is a mining company focused on exploring and developing its past-producing, high-grade gold and silver project, Lucero, located in Chachas, Arequipa, Peru. The Company is committed to advancing responsible mining practices and maintaining strong relationships with local communities to support sustainable development.

The Company also holds several exploration projects along Nevada’s Battle Mountain trend, a region renowned for prolific gold production, and these assets are under contract for sale in the first half of 2025.  Additionally, Element79 has transferred its Dale Property in Ontario to its subsidiary, Synergy Metals Corp., as part of a Plan of Arrangement spin-out process.

Contact Information

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

E-mail: jt@element79.gold

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1.403.850.8050

E-mail: investors@element79.gold

Cautionary Note Regarding Forward Looking Statements

This press contains ‘forward‐looking information’ and ‘forward-looking statements’ under applicable securities laws (collectively, ‘forward‐looking statements’). These statements relate to future events or the Company’s future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the timing and completion of the arrangement and the timing and completion of the amalgamation. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘forecast’, ‘potential’, ‘target’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’ and similar expressions) are not statements of historical fact and may be ‘forward‐looking statements’.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2025 TheNewswire – All rights reserved.