American Lithium Corp. (TSXV:LI | NASDAQ: AMLI | Frankfurt:5LA1) has announced that a three-judge tribunal of Peru’s Superior Court SALA 4 specialized in administration disputes has unanimously upheld the ruling of the lower court judge from Court SALA 6 announced on 2 November 2021 in favour of the company’s subsidiary, Macusani Yellowcake in relation to title over 32 disputed concessions out of 172 owned by Macusani.
The court ruling, consistent with prior legal proceedings, clearly establishes that Macusani is the rightful owner of these concessions. Furthermore, it highlights that the action launched by INGEMMET and MINEM in October 2018 was baseless and unsubstantiated.
Simon Clarke, CEO of American Lithium states, “We are extremely pleased with this ruling as it validates the company’s contention that the actions of INGEMMET and MINEM were inappropriate from the start of this process. It is very encouraging to see that the Peruvian judicial system continues to support the facts of this case and has found against INGEMMET and MINEM for the actions they have taken. The company has never lost title over the disputed concessions, which only represent a small fraction of our leases. For this reason, we have continued to advance the Falchani project and look forward to the announcement of additional progress shortly.”
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