Agreement establishes framework to source, process, and refine critical minerals - including tungsten, germanium, and rare earth elements - to strengthen bilateral economic and industrial cooperation between the United States and Uzbekistan

FISHERS, IN / ACCESS Newswire / November 10, 2025 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), along with its minority holding in ReElement Technologies Corporation ("ReElement"), a leading U.S. innovator in rare earth element (REE) and critical mineral refining, today announced the signing of a strategic partnership agreement with TMK LLC of the Republic of Uzbekistan to develop and expand the critical mineral value chain between the two nations, beginning with the sourcing of tungsten concentrates in Uzbekistan and refining them into high-grade tungsten in the United States.

The partnership, signed in Washington, D.C., establishes a cooperative framework to jointly advance sustainable and high-value production of tungsten and other strategic minerals essential to national security and advanced manufacturing. Under the agreement, American Resources Corporation will broker tungsten concentrate from TMK and its affiliates and supply this concentrate to ReElement Technologies and other U.S. partners for refining into high-purity tungsten to meet the growing needs of the U.S. government and its industrial base.

Mark Jensen, Chairman and CEO of American Resources and ReElement Technologies, commented, "This partnership exemplifies how technological innovation and trusted collaboration between nations can strengthen shared economic security. By combining Uzbekistan's natural resource potential with ReElement's advanced refining capabilities, we are building a foundation for a secure, scalable, and efficient supply of critical materials - starting with tungsten and expanding to germanium, lithium, and rare earth elements."

The collaboration reflects the mutual goal of leveraging Uzbekistan's mineral potential and ReElement's innovative refining technology to enable sustainable and globally competitive production of high-value materials. The agreement also provides for future cooperation on germanium, lithium, and other rare earth and critical elements critical to strategic and high-tech sectors.

As part of the framework, the Parties will establish a Joint Working Group (JWG) to develop technical and financial feasibility studies, define investment structures, and coordinate the implementation of projects. The partnership anticipates the participation of both U.S. and Uzbek financial institutions, sovereign wealth funds, and strategic investors.

Jensen added, "ReElement's focus remains on being the innovation leader and low-cost provider of refined critical minerals. Together with American Resources, we're creating an efficient value chain that supports allied economic growth, enhances U.S. industrial resilience, and promotes sustainable development abroad."

The signing of this partnership represents an important step toward advancing economic diplomacy and deepening bilateral cooperation between the United States and the Republic of Uzbekistan in the area of critical minerals and rare earth elements.

About American Resources Corporation (NASDAQ: AREC)

American Resources Corporation is a leader in the critical mineral supply chain, developing innovative solutions both upstream and downstream of the refining process. The company and its affiliates focus on the extraction and processing of metallurgical carbon and iron ore, essential ingredients in steelmaking, as well as critical and rare earth minerals for the electrification market and recycled metals.

Leveraging its affiliation and former parent status of ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, American Resources is investing in and developing efficient upstream and downstream critical mineral operations. These operations include mining interests in conventional and unconventional sources, recycling, and manufacturing.

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 Corporation

ReElement Technologies Corporation, a portfolio company of American Resources Corporation (NASDAQ: AREC), is a leading provider of high-performance refining capacity for rare earth and critical battery elements. Its multi-mineral, multi-feedstock platform technology focuses on the refining of recycled material from rare earth permanent magnets and lithium-ion batteries, concentrated ores and brines, as well as coal-based waste streams and byproducts to create a cost effective and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Powered by ReElement" process which collaboratively utilizes its exclusively licensed intellectual property within its partners' material processing flow sheets to more efficiently support the global supply chain's growing demand for magnet and battery-grade products. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.

About TMK LLC

TMK LLC is a Republic of Uzbekistan-based mining and processing company focused on the exploration and development of tungsten and other critical mineral resources. TMK is dedicated to fostering sustainable mining practices and expanding Uzbekistan's role in the global supply chain for strategic materials.

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
(908) 824 - 0775
arec@jtcir.com

Media Inquiries:

Marjorie Weisskohl
703-587-1532
mweisskohl@allseasonspr.com

Company Contact:

Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com

SOURCE: American Resources Corporation