Amerilithium Corp. announced 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 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. The geophysical study focused on the three mineral tenements currently held by AmeriLithium within the Katanning Greenstone Belt in Western Australia. Core Geophysics ("Core") of Perth performed a detailed analysis of available geophysical data covering the three tenements with the purpose of identifying possible gold mineralization in addition to possible lithium resources. Data was acquired and reviewed for the Bare Rocks (E70/3702), Hoffman Hills (E70/3703), and Normans Lake (E70/3704) projects. A suite of geophysical images was generated for each property, showing the structural interpretation of publically-available airborne geophysical survey magnetic data acquired within the past 5 to 10 years. A review of competitor activity in the region was also undertaken to determine the level of exploration activity and the techniques being employed to more fully delineate the Katanning gold discovery as well as the entire Katanning Greenstone Belt. Structural interpretation of magnetic data within the AmeriLithium tenements shows a highly complex geological terrain interspersed with abundant intrusive dike swarms. This interpreted geology is consistent with that of the Katanning discovery. Patterns in magnetic data indicate a possible mafic-ultramafic layered intrusion at the south end of the Bare Rocks license block. This interpreted intrusion is also in close proximity to the Ausgold Katanning Gold Project and, according to Core, may be a significant feature in relation to known mineralization. Bare Rocks 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. Core identified 13 viable exploration drilling targets from its analysis of the existing geophysical data: Four targets were delineated for the Normans Lake block. Six targets were identified for the highly prospective Bare Rocks block. Three targets were identified for the Hoffman Hills block. Existing geophysical data for this area is of generally poor quality. Targets are identified structural features with major offset, fault splays and shear zones, and greenstone with multiple intersecting fractures.