The deed assigns forever Grantor’s right, title and interest in and to each unpatented placer mining claim situated in Nye County, Nevada, FM # 1 through FM # 72, BLM NMC Nos. 1022927 – 1022998, respectively, and all amendments and relocations of the unpatented mining claims; together with all the ores, brines, earth or other mineral deposits, and in and to all of the rights, privileges, franchises, tenements, hereditaments and appurtenances belonging or appertaining to the unpatented placer mining claims, including all after acquired title.
According to the agreement, Grantor retains a 2% Net Smelter Royalty (NSR) with said Royalty subject to a buyback by Grantee for $500,000 for 1% of the NSR, with 1% NSR not subject to a buyback.
AmeriLithium’s Chief Executive Officer, Matthew Worrall, commented: "By acquiring the deed on the Full Monty properties, we can now proceed with both the clear confidence and assurance of how the Company will benefit from any Lithium production arising from this strategic acquisition in Nevada’s proven Lithium-producing region."
AmeriLithium’s Full Monty Project represents a 5,760-acre block (9 square miles) of federal placer mining claims 25 miles north of Clayton Valley’s prime Lithium-mining region. Lithium-rich brines and evaporates have been accumulating in the Clayton Valley playa for more than 30,000 years, resulting in the highest Lithium content found in any brines tested by the US Geological Survey (USGS) in southwestern US playas and basins.
Clayton Valley is home to the only US-based Lithium producing plant, operated by Chemetall Foote Corporation, a subsidiary of Rockwood Holdings, Inc. The plant has been in production since 1967, producing an estimated 50 million kg (55,000+ tons) of Lithium to date from the region’s rich brines.
The Full Monty location represents excellent logistics for project exploration and development, including an established road system and high voltage power lines that cross the Company’s property. Meanwhile, the state of Nevada represents a mining-friendly state populated with skilled workers. Mining is the largest industry in rural Nevada, and accounts for 87% of total US gold production, making it the third-largest gold producer in the world.(3) The state’s geographical location also provides easy access to the Port of Long Beach America’s second-busiest seaport with annual trade exceeding $100B ? creating potential distribution options for future world markets.
Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses Lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; the aviation industry uses Lithium in alloys. Of particular interest is the use of Lithium for battery production, which has expanded significantly in recent years due to rechargeable Lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market.
Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity Lithium-ion batteries as environmentally-friendly fuel alternatives while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on Lithium-ion batteries.
AmeriLithium is a publicly traded (NASD OTC BB: AMEL), mining company committed to progressively developing into one of the leading American players in the global Lithium industry. The Company is headquartered in Henderson, NV. AmeriLithium has amassed a Lithium portfolio consisting of ~724,000 acres, including three Nevada-based projects nearby the only Lithium producing plant in the US, a large project in Alberta, Canada, and a project in Western Australia.