• Patented Multi-Mode Chromatography technology has been scaled up and achieved better than expected separation and purification results from commercial operation
• Multi-Mode Chromatography technology scales modularly and is highly flexible to efficiently recycle and purify elements for an evolving battery chemistry landscape
• Lithium iron phosphate ("LFP") batteries are the key to large scale energy transition efforts

FISHERS, IN / ACCESSWIRE / August 9, 2023 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure and electrification marketplace, today announced that it has achieved an ultra-high purity of 99.99% lithium from its exclusively licensed and patented multi-modal chromatography technology that was developed in partnership with Purdue University. The results from LFP battery manufacturing scrap demonstrates the technology's ability to provide industry-best purity results across various lithium battery chemistries.

Yi Ding, PhD, Director of Research and Development of ReElement Technologies commented, "Refining lithium from LFP Battery chemistries in a cost effective and environmentally sensitive manner is the key to the domestic auto and electrification industry. We applaud our research, technical and operational teams for exceeding our initial target results in producing ultra-high pure, battery-grade lithium from end-of-life batteries utilizing our revolutionary and patented technology. The results we have achieved for LFP battery chemistry and the scalability we have now showcased is paramount for the high-growth battery industry. Our technology is unique in that we can operate standalone facilities, co-locate within the battery manufacturing ecosystem to process manufacturing waste to produce ultra-high pure lithium in either a carbonate or hydroxide form, and at a substantially lower economic and environmental cost than conventional chemical processing and refing."

With its initial commercial battery production train at its first Noblesville, Indiana facility, ReElement has the capacity to process approximately 137,500 kilograms per year of battery materials to produce ultra-high pure battery minerals or compounds. The Company is in the design and engineering phase to implement its second and larger scale battery production line which will have an annual capacity of approximately 13,750,000 kilograms per year with the ability to efficiently expand on a modular basis thereafter. As previously announced, this is in addition to its initial commercial production train that is used to recycle end-of-life permanent magnets for the separation and purification of their inherent rare earth elements. The Company continues to scale its first rare earth and critical element recycling facility in Noblesville, Indiana which is being developed as a modularly-scalable, commercial facility and is also currently evaluating additional sites for both standalone and co-located facilities.

ReElement's advanced chromatography methods are unique in that it's an efficient continuous closed loop, column-based, modular system that is able to operate at multiple stages and recover high value components. Typically, the Company's process first isolates lithium then subsequently isolates and recovers supplemental products such as the inherent iron phosphate, manganese, cobalt and nickel, from an NMC-type battery, with minimal increase in costs. Additionally, the chromatography produces very little waste making it environmentally benign and much easier to permit relative to conventional refining methods.

American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.

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 Technologies 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 (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.

Investor Contact:

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Company Contact:

Mark LaVerghetta
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317-855-9926 ext. 0
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