Document:

Exhibit 10.1

                            SHARE ISSUANCE AGREEMENT

SHARE ISSUANCE AGREEMENT dated the 12th day of October, 2009,

BETWEEN:

TOBERMORY  HOLDING LTD., a corporation  organized under the laws of Nevis,  with
registered  address on 26, Bolulevard Royal,  2449 Luxemburg  (hereinafter,  the
"SUBSCRIBER")

AND:

AMERICAN SIERRA GOLD CORP., a Nevada domestic corporation, c/o Nevada Agency and
Transfer  Company,  50 West  Liberty  Street,  Suite  880,  Reno,  Nevada  89501
(hereinafter, the "COMPANY")

NOW THEREFORE THIS SHARE  ISSUANCE  AGREEMENT  ("AGREEMENT")  WITNESSES that the
parties hereto agree as follows:

                           ARTICLE 1 - INTERPRETATION

SECTION 1.1.  DEFINITIONS.  When used in this Agreement  (including the recitals
and schedules  hereto) or in any amendment  hereto,  the following  terms shall,
unless otherwise expressly provided, have the meanings assigned to them herein:

"BANKING DAY" shall mean any day other than a Saturday,  Sunday,  public holiday
under the laws of the State of Nevada or other day on which banking institutions
are authorized or obligated to close in Nevada.

"CHARTER DOCUMENTS" means constating  documents and by-laws,  and all amendments
thereto;

"CONSENT"  means  any  permit,   license,   approval,   consent,  order,  right,
certificate,  judgment,  writ,  injunction,  award,  determination,   direction,
decree, authorization,  franchise, privilege, grant, waiver, exemption and other
concession or by-law, rule or regulation;

"UNIT  PRICE" means a price equal to 75% of the volume  weighted  average of the
closing  price  (the  "VWAP") of Common  Stock,  for the ten (10)  Banking  Days
immediately    preceding    the   date   of   the    Notice,    as   quoted   on
http://www.nasdaq.com/,  or other  source  of stock  quotes  as agreed to by the
parties; and

"DOLLAR" or "$" means the currency of the United States of America.

                         ARTICLE 2 - THE SHARE ISSUANCE

SECTION 2.1. SHARE ISSUANCE.  The Subscriber shall make available to the Company
in accordance  with, and subject to the terms and conditions of, this Agreement,
until  December 31, 2011 (the  "COMPLETION  DATE"),  up to  $6,000,000 by way of
Advances in accordance  with this  Sections 2.2, 2.3 and 2.4 of this  Agreement.
The  Completion  Date may be  extended  for an  additional  term of up to twelve
months at the option of the Company or the Subscriber  upon written notice on or
before the Completion Date in accordance  with the notice  provisions in Section
of this Agreement.

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<PAGE>
SECTION  2.2. THE  ADVANCES.  On the terms and  conditions  set forth herein the
Subscriber, from time to time, on any Banking Day, prior to the Completion Date,
agrees to make advances to the Company ("ADVANCES"). Each Advance shall be in an
aggregate  amount of not more  than  $1,000,000  and in  integral  multiples  of
$100,000.

SECTION 2.3.  PROCEDURE TO REQUEST  ADVANCES.  Each Advance  shall be made on or
before five Banking  Days  following  notice from the Company.  Each such notice
shall be given by a notice to the Subscriber in the form  substantially the same
as the form attached hereto in Schedule A (each a "NOTICE").

SECTION 2.4.  SUBSCRIPTION  AGREEMENT.  Upon making each Advance, the Subscriber
shall provide an executed Subscription  Agreement,  in a form acceptable to both
parties to this Agreement, to the Company.

SECTION  2.5.  USE OF  PROCEEDS.  The  Company  shall use all  Advances  to fund
operating  expenses,   acquisitions,   working  capital  and  general  corporate
activities.

SECTION 2.6 OPTION. The Subscriber may, at their discretion,  take the option to
subscribe  up to a further  $6,000,000,  when the total  subscription  from this
agreement has been received by the Company.

                   ARTICLE 3 - REPRESENTATIONS AND WARRANTIES

SECTION 3.1. REPRESENTATIONS AND WARRANTIES. The Company represents and warrants
to the Subscriber:

     (a)  Organization   and  Corporate   Power.   The  Company  has  been  duly
          incorporated  and  organized  and is  validly  subsisting  and in good
          standing  under the laws of its  jurisdiction  and has full  corporate
          right,  power and authority to enter into and perform its  obligations
          under  the  Agreement  to which it is or shall be a party and has full
          corporate right, power and authority to own and operate its properties
          and to carry on its business;

     (b)  Conflict  with Other  Instruments.  The  execution and delivery by the
          Company of the  Agreement  and the  performance  by the Company of its
          obligations  thereunder,  do not and will not:  (i)  conflict  with or
          result in a breach of any of the terms,  conditions or provisions  of:
          (A) the charter documents of the Company; (B) any law applicable to or
          binding on the Company; or (C) any contractual  restriction binding on
          or affecting the Company or its  properties  the breach of which would
          have a material  adverse effect on the Company;  or (ii) result in, or
          require or permit:  (A) the  imposition of any lien on or with respect
          to the properties now owned or hereafter  acquired by the Company;  or
          (B) the acceleration of the maturity of any debt of the Company, under
          any contractual provision binding on or affecting the Company;

     (c)  Consents,  Official Body Approvals.  The execution and delivery of the
          Agreement  and  the  performance  by the  Company  of its  obligations
          thereunder  have been duly  authorized by all necessary  action on the
          part of the Company,  and no Consent under any  applicable  law and no
          registration,  qualification,  designation, declaration or filing with
          any  official  body  having  jurisdiction  over the  Company is or was
          necessary therefor.  The Company possesses all Consents, in full force
          and effect, under any applicable Law which are necessary in connection
          with the operation of its business,  the non-possession of which could
          reasonably  be  expected  to have a  material  adverse  effect  on the
          Company;

     (d)  Execution of Binding Obligation.  The Agreement has been duly executed
          and  delivered by the Company and,  when duly  executed by the Company
          and delivered for value,  the Agreement will constitute  legal,  valid

Initials: _______/_______                                            Page 2 of 6
<PAGE>
          and  binding  obligations  of the  Company,  enforceable  against  the
          Company, in accordance with its terms;

     (e)  No Litigation.  There are no actions, suits or proceedings pending or,
          to the knowledge of the Company, after due inquiry, threatened against
          or affecting the Company (nor, to the knowledge of the Company,  after
          due  inquiry,  any basis  therefor)  before any  official  body having
          jurisdiction  over the Company  which  purport to or do challenge  the
          validity or propriety of the  transactions  contemplated  by the Share
          Issuance the Company,  which if adversely  determined could reasonably
          be expected to have a material adverse effect on the Company;

     (g)  Absence  of  Changes.  Since the date of the most  recently  delivered
          financial  statements  of the Company,  the Company has carried on its
          business,  operations  and  affairs  only in the  ordinary  and normal
          course consistent with past practice.

                      ARTICLE 4 - COVENANTS OF THE COMPANY

SECTION 4.1.  AFFIRMATIVE  COVENANTS.  Until the  Completion  Date,  the Company
shall:

     (a)  COMPLIANCE  WITH  LAWS,   ETC.   Comply  with  all  applicable   laws,
          non-compliance  with which could have a material adverse effect on the
          Company;

     (b)  PAYMENT OF TAXES AND CLAIMS.  Pay and discharge  before the same shall
          become delinquent: (i) all taxes and assessments;  and (ii) all lawful
          claims which, if unpaid, might become a lien upon or in respect of the
          Company's assets or properties;

     (c)  MAINTAIN  TITLE.  Maintain  and,  as soon as  reasonably  practicable,
          defend and take,  all action  necessary or advisable at any time,  and
          from time to time, to maintain,  defend,  exercise or renew its right,
          title and interest in and to all of its property and assets;

     (d)  PAY OBLIGATIONS TO SUBSCRIBER AND PERFORM OTHER  COVENANTS.  Make full
          and timely payment of its  obligations  hereunder and duly comply with
          the terms and covenants contained in this Agreement,  all at the times
          and places and in the manner set forth therein;

     (e)  FURTHER  ASSURANCES.  At its cost and  expense,  upon  request  by the
          Subscriber, duly execute and deliver, or cause to be duly executed and
          delivered,  to the  Subscriber,  such further  instruments  and do and
          cause to be done such other acts as may be  necessary or proper in the
          reasonable opinion of the Subscriber to carry out more effectually the
          provisions and purposes of this Agreement.

                           ARTICLE 5 - SHARE ISSUANCE

SECTION 5.1 SHARE ISSUANCE. The Company shall issue, within fifteen (15) Banking
Days  following the date of the receipt by the Company of any Advance under this
Agreement,  units (each a "UNIT") of the  Company at the Unit  Price.  Each Unit
shall  consist of one share (each a "SHARE") of the common  stock of the Company
(the "COMMON  STOCK") and one share  purchase  warrant (each a "Warrant").  Each
Warrant shall entitle the  Subscriber to purchase one  additional  share (each a
"WARRANT SHARE") of Common Stock, at an exercise price equal to 175% of the Unit
Price at which the Unit containing the Warrant being exercised was issued, for a
period of two (2) years from the date such  Warrant is issued.  Upon  receipt of
any Advance under this Agreement, the Company shall promptly cause its registrar

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<PAGE>
and transfer agent to issue the  certificates  representing  the Shares.  If the
Subscriber  exercises  the  Warrants,  the  Company  shall  promptly  cause  its
registrar and transfer agent to issue the certificates  representing the Warrant
Shares.

SECTION 5.2  FRACTIONAL  SHARES.  Notwithstanding  any other  provisions of this
Agreement,  no certificate  for  fractional  shares of the Shares or the Warrant
Shares shall be issued to the Subscriber. In lieu of any such fractional shares,
if the Subscriber  would  otherwise be entitled to receive a fraction of a share
of the Shares or Warrant  Shares  following  a Share  Issuance  or exercise of a
Warrant,  as applicable,  the  Subscriber  shall be entitled to receive from the
Company a stock  certificate  representing the nearest whole number of shares of
the Company.

                            ARTICLE 6 - MISCELLANEOUS

SECTION 6.1. NOTICES,  ETC. Except as otherwise  expressly  provided herein, all
notices,  requests,  demands,  directions and communications by one party to the
other shall be sent by hand  delivery or  registered  mail or fax,  and shall be
effective when hand  delivered or when delivered by the relevant  postal service
or when  faxed and  confirmed,  as the case may be.  All such  notices  shall be
addressed to the  President of the  notified  party at its address  given on the
signature page of this Agreement,  or in accordance  with any unrevoked  written
direction from such party to the other party.

SECTION 6.2. NO WAIVER;  REMEDIES.  No failure on the part of the  Subscriber or
the  Company  to  exercise,  and no delay in  exercising,  any right  under this
Agreement  shall operate as a waiver  thereof.  The remedies herein provided are
cumulative and not exclusive of any remedies provided by Law.

SECTION 6.3. JURISDICTION. (1) Each of the parties hereby irrevocably attorns to
the  non-exclusive  jurisdiction  of the  Courts  of the  State of Nevada in any
action or proceeding  arising out of or relating to this Agreement.  The Company
agrees  that a  final  judgment  in any  such  action  or  proceeding  shall  be
conclusive and may be enforced in other jurisdictions by suit on the judgment or
in any other  manner  provided by Law; and (2) nothing in this Section 6.3 shall
affect the right of the  Subscriber  to serve legal  process in any other manner
permitted  by Law or affect the right of the  Subscriber  to bring any action or
proceeding  against  the  Company  or  its  property  in  the  courts  of  other
jurisdictions.

SECTION 6.4.  SUCCESSORS  AND ASSIGNS.  The Company  shall not have the right to
assign its rights  hereunder or any interest  herein  without the prior  written
consent of the Subscriber, which consent may be arbitrarily withheld.

SECTION 6.5.  SEVERABILITY.  If one or more  provisions of this  Agreement be or
become invalid,  or unenforceable in whole or in part in any  jurisdiction,  the
validity of the remaining  provisions of this  Agreement  shall not be affected.
The parties hereto undertake to replace any such invalid provision without delay
with a valid  provision  which as nearly as  possible  duplicates  the  economic
intent of the invalid provision.

SECTION 6.6. COUNTERPARTS. This Agreement may be executed in counterparts and by
different parties in separate counterparts, each of which when so executed shall
be deemed an original and all of which, taken together, shall constitute one and
the same instrument.

SECTION 6.7.  SYNDICATION/PARTICIPATION.  The Subscriber may not sell, transfer,
assign,  participate,  syndicate or negotiate to one or more third  parties,  in
whole or in part, the Commitment  and its rights under this  Agreement,  without
the prior written  consent of the Company,  which consent may not be arbitrarily
withheld.

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<PAGE>
     IN WITNESS  WHEREOF the parties  hereto  have caused this  Agreement  to be
executed by their respective officers thereunto duly authorized,  as of the date
first above written.

THE SUBSCRIBER                                  THE COMPANY

TOBERMORY HOLDING LTD.                          AMERICAN SIERRA GOLD CORP.

By:                                             By:
    -----------------------------                  -----------------------------
Authorized Signing Officer                      Authorized Signing Officer

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<PAGE>
                                   SCHEDULE A

                                     NOTICE

To: TOBERMORY HOLDING LTD. (the "Subscriber")

The undersigned,  AMERICAN SIERRA GOLD CORP. (the "Company")  hereby requests an
advance of  $________________  , in accordance with the terms and conditions set
forth in the Share  Issuance  agreement  dated  October  12,  2009 , between the
Subscriber and the Company and as of the Date of Notice written below.

DATE OF NOTICE:                                    -----------------------------

Remaining amount to be advanced under
the Share Issuance:
                                                   -----------------------------

AMERICAN SIERRA GOLD CORP.

Per:
    --------------------------------------------
    Authorized Signatory

The Subscriber  hereby  acknowledges  receipt of this Notice and agrees with the
amounts set out above as of this Notice.

TOBERMORY HOLDING LTD.

Per:
    --------------------------------------------
    Authorized Signatory

Initials: _______/_______                                            Page 6 of 6Exhibit 10.1

Exhibit 10.1

PRESS RELEASE

AMERICAN LITHIUM MINERALS APPOINTS TOP LITHIUM INDUSTRY EXECUTIVE, MS. JUDY BAKER AS PRESIDENT AND CEO

HENDERSON, NV - American Lithium Minerals Inc. (OTC.BB:AMLM - News) (the "Company")  is pleased to announce that its Board of Directors today appointed Ms. Judy Baker, as President and Chief Executive Officer of the Company, effective immediately. As part of the appointment, Ms. Baker will also be joining the Board of Directors.

Ms. Baker will replace Mr. Matthew Markin as President. Mr. Markin who will continue as the Chairman of the Board of Directors commented, “We are extremely pleased that Ms. Baker has chosen American Lithium Minerals,  her successful track record and years of know-how will definitely accelerate our  developmental time lines”, Mr. Markin continued,. “Judy’s experience in building and positioning mining/mineral exploration companies and her knowledge of the world wide lithium industry will be an enormous benefit to executing our initiative to become a major participant in the lithium and rare earth minerals industry.”

Ms. Baker has a long and successful track record in the mining/mineral exploration business and associated equity markets. Most recently Ms. Baker was the President, CEO and a director of Canada Lithium Corp., Ms. Baker was instrumental in restructuring the company and strategically positioning it into the forefront of the international lithium business. During her 20-month tenure the company’s market cap grew from $5 million to over $30 million, an over 600% increase.  Ms. Baker Stated “I am very pleased to join the incredible team here at American Lithium Minerals, I feel very confident that we have the opportunity to make American Lithium Minerals a significant influence in this space.” 

Ms. Baker holds an Honours B.Sc. Geological Engineering in Mineral Resources Exploration and a M.B.A., and has seventeen years of experience in the mining and mineral exploration sector including equity analysis, fund management; and exploration and mining company activity.  

About American Lithium Minerals

American Lithium Minerals Inc. is an early stage lithium exploration company engaged in evaluating, developing and acquiring lithium projects, with a focus on the USA.

Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the entry into of a definitive option agreement with GeoXplor in regards to the claims situated on the Montezuma Peak in Esmeralda County, Nevada, of our ability to make any required payments in regards to the claims and option agreement as they become due. 

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission. 

For Additional Information, Contact:

Stephen Cook

Vice President/Investor Relations

Tel: 877-717-2656

E-mail: info@americanlithium.com

Web: www.americanlithium.com

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