Partnership showcases Reelement's value-added attributes as a scalable, low cost and clean critical mineral refining platform

Ghanaian, commercial-scale facility will be built with initial refining capacity to produce 30,000 metric tons of battery-cell-grade lithium carbonate per year

ACCRA, GHANA and FISHERS, IN / ACCESSWIRE / December 11, 2023 / American Resources Corporation (NASDAQ: AREC) ("American Resources" or the "Company") subsidiary, ReElement Technologies Corporation ("ReElement"), a leading provider of high-performance refining capacity of rare earth and critical battery elements, announced today that it has joined forces with TECHGULF Ghana Limited, a prominent technology firm, to introduce Africa's inaugural lithium processing and refining plant in Ghana.

This ground-breaking initiative, unveiled during a courtesy call on the Vice President of the Republic of Ghana, His Excellency Dr. Mahamudu Bawumia, signals a significant leap forward in Africa's quest for sustainable energy solutions and economic development driven by the growing lithium industry. This collaborative effort reflects a commitment to advancing Ghana's lithium discovery and supporting the global demand for electric vehicle components. The full scope includes improving the value step by importing ReElement's high-value technology in processing and refining lithium ore in Ghana by Ghanaians in Africa.

In a statement, Dr. Mahamudu Bawumia expressed his enthusiasm for the partnership, stating, "We are delighted to witness the collaboration between ReElement Technologies Corporation and TECHGULF Ghana in establishing Africa's first battery-grade lithium processing plant. This initiative aligns seamlessly with Ghana's commitment to sustainable development and positions the country as a key player in the rapidly evolving electric vehicle sector."

The joint venture aims to initially construct an advanced pilot, training facility for lithium processing in Ghana emphasising workforce skill development and knowledge transfer to empower local talent in the burgeoning lithium industry through the University of Mines and Technology (UMaT). This facility will play a pivotal role in enhancing Ghana's technological capabilities and fostering innovation in the region. Given ReElement's unique technological advantages, the Ghanaian commercial-scale refining facility will be built with an initial capacity to produce 30,000 metric tons of battery-cell-grade lithium carbonate per year, with the ability to modularly expand capacity as the feedstock volumes of lithium-bearing ores increase in the region.

Mark Jensen, CEO of ReElement Technologies highlighted the strategic importance of the partnership, stating, "We are proud to collaborate with TECHGULF Ghana in pioneering Africa's first lithium processing and refining plant. This venture underscores our commitment to advancing sustainable technologies and fostering economic growth in the region. By combining ReElement's refining expertise with TECHGULF's technological prowess, we aim to contribute significantly to the global electric vehicle and critical mineral value chain."

TECHGULF Ghana Limited, recognised for its specialisation in the development and support of digital infrastructure, will bring its technological acumen to the partnership. The company's role in the collaboration includes the implementation of cutting-edge digital systems for efficient plant operations and facilitating advanced training programs for local workforce development.

Commenting on the partnership, Mr. Franklin Asare, CEO of TECHGULF Ghana Limited, said, "We are excited about the prospects of this collaboration and the positive impact it will have on Ghana's technology landscape. By combining our strengths with ReElement Technologies Corporation, we are confident in our ability to contribute to the sustainable growth of the lithium processing industry in Africa."

The project is poised to be a catalyst for economic development in Ghana, fostering job creation, technology transfer, and sustainable practices. The construction of the lithium processing plant and training facility is slated to commence in the coming months, with an anticipated completion date in early 2025.

Learn more about ReElement Technologies' process and technology here - Video.

About ReElement Technologies LLC

ReElement Technologies LLC, a wholly owned subsidiary of American Resources Corporation (NASDAQ: AREC) 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 (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.

About TECHGULF Ghana Limited

TECHGULF Ghana Limited is a dynamic technology company with a global presence renowned for its robust capacity, advanced capabilities, and technical competence, TECHGULF is dedicated to the development and support of digital infrastructure, playing a pivotal role in accelerating the growth of Africa's digital economy.

As a key player in the technology sector, TECHGULF serves as the primary business partner for various technology companies actively seeking to establish a significant presence in Ghana and other regions of Africa. The company's commitment to excellence is reflected in its exclusive partnership with Overland Tandberg, where TECHGULF serves as the exclusive reseller of Overland Tandberg's world-class data storage and archive solutions throughout Africa.

With a mission to drive innovation and facilitate technological advancements, TECHGULF stands at the forefront of the digital revolution, contributing to the ongoing transformation of Africa's technological landscape.

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
arec@jtcir.com

RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
Info@redchip.com

Company Contact:

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

TECHGULF Ghana Limited

Atõ Abassah
ato.abassah@thetechgulf.com
+233 26 310 8672

SOURCE: American Resources Corporation