HENDERSON, NV, Sept. 7, 2012 /PRNewswire/ -- Amerilithium
Corp. (OTCQB: AMEL) ("Amerilithium" or the "Company") is pleased to
announce it has paid its annual Bureau of Land Management (BLM)
maintenance fees for its four Nevada-based lithium properties: Paymaster,
Full Monty, Clayton Deep and
Jackson Wash.
Due to the increase in maintenance fee costs from 2011 to 2012
caused by changes in the BLM's payment structure, the Company has
also optimized its claim holdings in two of the properties
(Paymaster and Full Monty) to significantly reduce its maintenance
fee costs while retaining all claims representing planned drilling
targets and all areas of significant exploration interest. Based on
the original property holdings, combined maintenance fees would
have increased by more than $59,400.00 or approximately 274% over last year.
However, following the optimization of the property holdings,
overall maintenance fee costs for both of the properties combined
were reduced by $54,218.50 or
approximately 67%.
The Paymaster property previously consisted of 5,880 acres
comprised of 23 claims of 160 acres and 55 claims of 40 acres. The
new property holdings now consist of 3,160 acres comprised of 6
claims of 160 acres and 55 claims of 40 acres. In turn, overall
maintenance fee costs were reduced by $19,388.50 or approximately 45%.
The Full Monty property previously consisted of 5,300 acres
comprised of 66 federal placer mining claims. The new property
holdings now consist of 480 acres comprised of six (6) federal
placer mining claims. Overall maintenance fee costs were reduced by
$34,830 or approximately 91%.
The Company's Chief Executive Officer, Matthew Worrall, commented: "After carefully
studying all of our past geophysical and drill exploration data, it
became clear that by divesting the claims in question, we could
retain all the exploration areas we see as significant while
minimizing our maintenance fee overhead. This decision was the best
course of action for the Company in terms of fiscal management
while still maintaining our full asset potential."
Additional Information
More information on the Paymaster and Full Monty lithium
projects, and additional information regarding the Company, can be
found at Amerilithium's corporate website www.amerilithium.com
along with the facility to sign up for regular news updates.
About Lithium
Lithium is a lightweight metal used in a wide range of consumer
products all over the world: the medical industry uses lithium as
an anti-depressant; industrial uses include glass, ceramic and
porcelain enamel manufacture; and 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.
About Amerilithium
Amerilithium is a publicly traded (OTCQB: AMEL) mining company
committed to progressively developing into one of the leading U.S.
companies in the global lithium industry. The Company is
headquartered in Henderson, NV.
Amerilithium has amassed a lithium portfolio consisting of
approximately 719,779 acres, including four Nevada-based projects near the only lithium
producing plant in the U.S., a large project in Alberta, Canada, and a project in Western Australia.
Forward Looking Statements
The information contained herein includes forward-looking
statements. These statements relate to future events or to
our future financial performance, and involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance, or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. You should not place undue
reliance on forward-looking statements since they involve known and
unknown risks, uncertainties and other factors which are, in some
cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our
current views with respect to future events and is subject to these
and other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and
liquidity. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to
update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new
information becomes available in the future.
Contact:
Amerilithium Corp
871 Coronado Center Dr., Ste. 200
Henderson, Nevada 89052
Phone: (702) 583-7790
Fax: (702) 583-7791
Email: info@amerilithium.com
Facebook: www.facebook.com/AmeriLithium
Twitter: www.twitter.com/amerilithium
Web: www.AmeriLithium.com
Investor Relations:
Toll Free: 1 (888) 982-6374
Email: ir@amerilithium.com
SOURCE AmeriLithium Corp.
