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| UNITED STATES |
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| SECURITIES AND EXCHANGE COMMISSION |
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| WASHINGTON, DC 20549 |
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| FORM 8-K CURRENT REPORT |
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| Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 |
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Date of Report (Date of earliest reported) | May 5, 2009 | ||||
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AMERICAN LITHIUM MINERALS INC. | |||||
(Exact name of registrant as specified in its charter) | |||||
NEVADA | 333-132648 | 71-1049972 | |||
(State or other jurisdiction | (Commission | (IRS Employer | |||
1914 Cordova Road, Suite 116, Fort Lauderdale, FL | 33316 | ||||
(Address of principal executive offices) | (Zip Code) | ||||
Registrant's telephone number, including area code | (954) 828-9143 | ||||
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NUGGET RESOURCES, INC. | |||||
(Former name or former address, if changed since last report) | |||||
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. | |||||
( ) Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425) | |||||
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( ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
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( ) Pre commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR.240.14d-2(b)) | |||||
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( ) Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
INFORMATION TO BE INCLUDED IN THE REPORT
Section 8 Other Events
Item 8.01
Other Events
The Registrant announced that it has entered into a letter agreement (the Agreement) with GeoXplor Corp. (GeoXplor), a private Nevada company, whereby the Registrant was granted an option (the Option) to acquire a 100% interest in 100 unpatented mining claims located in Esmeralda County, Nevada (the Property). The Property is located approximately 25 miles east of the Nevada-California border, 35 miles southwest of Tonopah, Nevada. The Property is subject to a 3% royalty in respect of lithium carbonate production and all other ores or minerals mined or extracted from the Property (the Royalty).
In order to acquire the Option the Registrant must pay the sum of $370,000 over four years, issue an aggregate 750,000 shares to GeoXplor (250,000 shares on signing of the agreement and 250,000 shares each year thereafter for three years), and incur expenditures on exploration of the Property of not less than an aggregate $2,000,000 over 4 years.
At any time during the term of the Agreement, the Registrant may accelerate any of the cash payments, share issuances or expenditures and can also satisfy the expenditures requirement by delivering a pre-feasibility study. The royalty can be reduced at any time upon payment of $1 million for each 1% of the Royalty.
A copy of the News Release dated May 5, 2009 is furnished as Exhibit 99.1.
Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
News Release dated May 5, 2009
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| AMERICAN LITHIUM MINERALS INC. | |
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Date : | May 5, 2009 |
| By : | /s/ Matthew Markin |
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| Matthew Markin, |
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| President |