• Tarlis Thompson has moved up in the ranks since joining the Company in 2015 and has demonstrated exemplary leadership and compassion while positioning and growing the carbon platform

FISHERS, IN / ACCESSWIRE / August 11, 2023 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), 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, today announced that its Strategic Committee has approved the appointment of Tarlis Thompson as the Chief Executive Officer of its American Carbon subsidiary, a leading producer of high quality metallurgical and specialty carbon.

Mark Jensen, CEO of American Resources Corporation commented, "As American Resources continues to grow, it is clear that there is a need to expand the team and enables those that have performed to move up through the ranks of the Company. There is no better person to lead our carbon division than our friend and colleague, Tarlis Thompson. He has been with us for over 8 years and has moved up through the ranks due to his performance, passion and desire to make the Company not only a success for our investors but also for the men and women that work tirelessly for the Company and their families. Tarlis was born and raised in Pike County Kentucky and is a respected individual in the community, and I have the utmost confidence in him to steer our streamlined platform of high value assets forward as a new aged mining company focused on safe and low-cost production for our shareholders and local stakeholders."

Tarlis Thompson, CEO of American Carbon commented, "I am honored to have been selected for this position by the Company's board of directors and the management team of American Resources Corporation. I am also honored to be in a position of leadership as we embark on a period of growth for the business at our Kentucky operations, as well as our extremely attractive Wyoming County complex in West Virginia. I take this appointment with the utmost respect and carry the safety and security of our team on my shoulders. Over the past few months, I have submitted a plan on how I believe we can maximize the value of the business in the coming years for our shareholders and I am excited to be able to continue forward with this vision while focusing on our highest value opportunities in the market. As part of the vision, our goal is to focus on monetizing non-core carbon assets through sales or leases, expanding our repositioned core assets for growth, while also further integrating the ability to produce rare earth and critical mineral concentrate from carbon-based waste stream to be refined by our sister company, ReElement Technologies."

American Carbon has been performing character analysis of its focused deposits containing rare earth and critical minerals, which is believed to be some of the highest quality of unconventional deposits in the United States. Furthermore, the concentration technology is revolutionary as it sits in-line with existing carbon processing to offset costs of infrastructure, labor and utilities while monetizing byproducts.

Tarlis Thompson is a Kentucky born native that has spent over 23 years in the mining industry ranging from coal production, process, testing and leadership positions. Prior to his appointment as CEO he was the president in charge of overseeing all daily operations at American Carbon's Central Appalachian subsidiaries, which includes McCoy Elkhorn, Deane Mining, Wyoming County, Perry County and Knott County Coal. In this role, he manages the activities at the Company's various processing facilities and loadout, coordinates production at the Company's various mining operations, manages environmental compliance and reclamation, and is responsible for quality control and shipments to customers. Prior to joining American Resources Tarlis spent over 15 years at companies such as Massey Energy, Commercial Testing & Engineering, SGS Minerals and CAM Mining.

About American Resources Corporation

American Resources Corporation 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.

About ReElement Technologies LLC

ReElement Technologies LLC is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.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.

Investor Contact:

JTC Team, LLC
Jenene Thomas
833-475-8247
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RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
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Company Contact:

Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
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