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TheStreet Open House

AmeriLithium Provides Positive Update On Drilling Progress & Confirms Completion Of Second Drill Hole

HENDERSON, NV, March 31, 2011 /PRNewswire/ -- AmeriLithium Corp. (OTC Bulletin Board: AMEL; "AmeriLithium" or "the Company") is pleased to provide a progress update on the Company's 8-hole drill program on the Paymaster Canyon Lithium brine project in Nevada, USA, and confirms the completion of the Second drill hole, and the initiation of the Third drill location.

As of Tuesday, March 29, 2011 the drilling of both holes one and two have been completed. The crew will continue to work 10-hour shifts to finish the remaining two holes in a timely manner, with completion of the third hole expected within the next 7 days. (Detailed drilling progress notes are provided further below.)

"Although the drilling operation has encountered adverse weather conditions we are extremely pleased with the progress that has been achieved on the project and the completion of the first two targets," said Matthew Worrall, AmeriLithium's CEO. "We are extremely positive about the initial results and are looking forward to receiving the analysis back from the Lab. Again our exploration program has successfully identified areas of significant interest."

The program's 3 initial holes will test areas of significant Lithium brine potential identified by the Company's exploration program (i.e., areas marked by gravity lows and low resistivity), followed by the remaining 5 holes depending on the initial drilling results.

DETAILED DRILLING PROGRESS NOTES: TUESDAY, MARCH 29

Robert Allender, VP of Exploration & Chief Geologist, provided the following update for the second hole.

The hole was completed to a depth of 400 feet and penetrated only coarse gravel formations from the surface to the bottom of the hole.  Water was encountered at a depth of about 200 feet and was evidenced by an increase in water temperature and drilling mud dilution.  Water temperature increased dramatically at depth.  The final temperature measurement at 400 feet was 54C, almost 130 degrees F.  The conductivity also increased with depth as measured by field instrumentation.  At 400 feet relative conductivity was at the very limit of the measuring device.  These findings indicate the probable presence of brine.  They also are evidence that the Paymaster Fault may be a conduit for lithium-bearing fluids from Paymaster Canyon and Alkali Flat and also from sources at depth.

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