Disclosed is a method of producing an unrecrystallized, thin gauge cold rolled aluminum-lithium sheet product having improved levels of strength and fracture toughness. The method comprises the steps of providing a body of a lithium containing aluminum base alloy, heating the body to a hot rolling temperature, and hot rolling the body to a first intermediate sheet product. After cold rolling to a second intermediate thickness, the sheet product is reheated and hot rolled to produce a final sheet product while avoiding substantial recrystallization there, the hot rolling adapted to relieve stored energy capable of initiating recrystallization during a subsequent heat treating step. Thereafter, the sheet product is solution heat treated, quenched and aged to provide a substantially unrecrystallized product having improved levels of strength and fracture toughness.