AMEL News .0337 AmeriLithium's Geophysical Study of Western Australia Properties Identifies Gold Prospectivity & Drilling Targets for Exploration Plan

2012-07-02 08:30 ET - News Release

HENDERSON, NV, July 2, 2012 /PRNewswire/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to announce the completion of its geophysical study of the Company's three properties in Western Australia for the purpose of identifying possible gold mineralization in addition to possible lithium resources.

The interpreted results from the geophysical study indicate geology that is consistent with [Ausgold Limited's nearby 5-million-ounce (Moz) Katanning gold discovery]. In particular, AmeriLithium's Bare Rocks license block is considered highly prospective due to a series of structural features (faults and shear zones) that appear to be relatively unique for the Katanning area. Analysis of the existing geophysical data also identified 13 viable exploration drill targets.

The geophysical study was commissioned through AmeriLithium's Australia-based joint venture ("JV") partner, Strategic Resource Management Pty Ltd. The purposes of the JV are to acquire, manage and administer mining properties held by or to be held by AmeriLithium in Australia, including the Company's three current Western Australia assets.

AmeriLithium's CEO, Matthew Worrall, commented: "While our main focus remains our lithium projects in Nevada, our JV with Strategic Resource Management continues to enable us in exploring and developing our Australian holdings. And with the geophysical study pointing to the potential for gold mineralization, we're looking forward to moving ahead with our 2012 drilling program to better assess the gold and lithium potential of our holdings