• Company recently submitted for bond releases on approximately 1,170 acres of previously mined lands representing over $2.8 million in surety bonds
• Company has previously submitted or received bond releases on over 8,000 acres of impacted mining land from acquired assets

FISHERS, IN / ACCESSWIRE / December 6, 2023 / American Resources Corporation (NASDAQ:AREC) ("American Resources"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, announced today that its continued focus on proper environmental stewardship through reclamation and remediation of former mining operations has resulted in recent regulatory submissions for environmental bond surety releases on over 1,170 acres of former coal mining lands, representing over $2.8 million in bonding liability that is anticipated to be released by various state regulatory agencies. With these recent submissions, and after the approvals from state agencies, it will bring the total number of acres of prior impacted coal mining operations that the Company has reclaimed or released to over 8,000 acres from previously acquired impacted lands and stranded mining permits.

Tom Sauve, President of American Resources Corporation commented, "Our business model from day-one is centered around running low cost operations and one of the key ways of achieving this is by continuously working to reduce our environmental liabilities that are tied to the assets that we acquired from previously bankrupt or troubled companies. We couldn't be more proud of our track record of taking over great assets that were also clouded by the environmental liabilities of their predecessors. Through our dedication to properly clean these properties up, we not only reduce our cost structure but also position our assets for better growth and profitability in the future. For far too many companies, the legacy way of managing their mining operations was to prolong and defer those costs to future operators to deal with. We applaud our team which has performed the environmental reclamation work to strengthen our Company and its operations, while being good stewards to the environment and communities in which we operate.

The successful bond release of these associated submissions will bring the Company's total bonds released to over $25 million in environmental reclamation bonding representing over 8,000 acres that has been reclaimed and released from the Company's liabilities. Furthermore, in the coming months, the Company anticipates to have an additional 120 acres reclaimed, representing and additional $1.3 million in environmental bonds, in Indiana, and another $1.5 million in reclamation bonds anticipated to be released in Kentucky. With these releases, American Carbon Corporation, the wholly-owned subsidiary of American Resources Corporation focused on the production of high quality metallurgical carbon, continues to better position itself as a long-life mining platform, with a focus on a very low cost structure and sustainable jobs to supply the global steel industry with some of the highest quality carbon in the world.

About American Resources Corporation

American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.

American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.

Special Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

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