• Well established industry expert with extensive experience including Toyota Motorsport, Apple's Titan electric car project, Red Bull Technology, Porsche LMP1 Project and Volkswagen Group

FISHERS, IN / ACCESSWIRE / July 17, 2023 / American Resources Corporation's (NASDAQ:AREC) ("American Resources" or the "Company") subsidiary, ReElement Technologies LLC ("ReElement Technologies"), a leading provider of high performance refining capacity of battery and rare earth elements, today announced the appointment of automotive and EV industry veteran Alex Hitzinger to its Technical Advisory Board.

"We are extremely excited to welcome Alex to ReElement's Technical Advisory Board," commented Mark Jensen, Chief Executive Officer of American Resources. "He is a world-renowned, automobile industry expert and has been on the cutting edge of driving high-tech, innovative solutions to the market. His experience, knowledge, and vision will be extremely valuable in guiding ReElement as we further deploy our leading and commercial rare-earth and critical mineral refining technology throughout the world. We are thankful for his involvement and passion for driving innovation to lead the electrified economy forward!"

Mr. Hitzinger added, "As our world economy embarks on this monumental shift in transportation technology, I am highly focused on seeking out and working with companies that have truly disruptive and outstanding technological opportunities. I am excited to work with the ReElement Technologies team to showcase their technology in the battery and rare earth magnet material refining marketplace. Having just visited their Noblesville, Indiana facility, I am excited to see the business and commercialization of their technology grow throughout the marketplace. I look forward to working with the team and their partners to create much needed supply chain solutions and long-term value for all stakeholders."

Mr. Hitzinger boasts an extensive engineering and leadership career where he led key autonomous and electric vehicle projects. His career began at Toyota as a development engineer before working in the Formula 1 world as Head of Formula 1 Development at Cosworth and Head of Advanced Technologies at Red Bull's Formula 1 Team. His penchant for leading cutting-edge automotive technology projects led him to serve as Technical Director for the three-time, victorious Porsche 919 at the 24 Hours of Le Mans, and Head of Product Design at Apple for Project Titan before co-founding and serving as CEO at ARTEMIS, where he led the creation of a visionary autonomous vehicle concept. Most recently, Mr. Hitzinger served as Senior Vice President of Autonomous Driving at VW Group and Member of the Executive Board VWN, where he was involved in the development of the ID Buzz. With more than 20 years of experience in the automotive and electric vehicle industries, Mr. Hitzinger begins a new phase of his career with the aim of supporting promising companies with disruptive technologies as they enter the automotive and electric vehicle world stage.

ReElement Technologies is committed to leading the world and domestic supply chain for the refining of rare earth and critical battery elements in the electrified economy. The Company has proven that its patented chromatographic separation and purification process is a low cost, co-locatable, scalable, chemistry flexible (LFP, NMC and other battery chemistries) and an environmentally safe replacement to the existing environmentally and socially toxic alternative methods used around the globe for rare earth and critical element processing. As the Company executes and scales its production, it will significantly reduce the United States' dependency on foreign nations for the supply of these critical raw materials while also creating a true circular life-cycle solution.

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.

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.

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
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Company Contact:

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