American Resources Corporation’s ReElement Technologies Signs Lithium Offtake and Partnership Agreements with American Lithium Energy Corporation

ReElement Technologies will supply high-purity, battery-grade materials for use in American Lithium Energy's battery manufacturing process

The companies will work to co-locate operations within the other's facilities for battery manufacturing and efficient recovery of high value elements to recirculate back into the manufacturing process.

American Resources Corporation and affiliates intend to invest up to $3 million into ALE to further align core competencies and growth objectives

FISHERS, IN / ACCESSWIRE / May 31, 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, is pleased to announce that it has signed a partnership with American Lithium Energy Corporation ("ALE") to enhance the current supply chain for lithium-ion batteries to the energy storage industry by supplying battery-grade materials, investing in and co-locating advanced refining capacity with ALE's battery manufacturing. Through this agreement, ReElement Technologies will supply the high-purity lithium and other refined battery minerals to be used in creating ALE's state-of-the-art batteries that are used in a variety of applications and industries including medical, aerospace, defense, and electric vehicles.

American Lithium Energy ships the world's highest energy density silicon-based lithium-ion batteries with industry best safety and zero-volt stability. ALE's patented technologies eliminate the need for trade-offs between energy density, lifecycle, and safety, and ALE's products are able to deliver all three benefits. ALE's patented lithium battery safety technologies generate extremely high-power, high-energy-density lithium cells. ALE's customers include: Department of Defense, Department of Energy, and several US defense primes for over several years.

Mark Jensen, Chairman and CEO of American Resources Corporation commented, "We are extremely excited to sign a fully integrated partnership with American Lithium Energy and their team. Their patented suite of technologies and close relationship with the Department of Defense and Department of Energy is perfectly aligned with what we do at ReElement Technologies by enabling the companies to establish a fully domestic and sustainable supply chain to source battery minerals and manufacture them into high-end batteries for our military, space and domestic industries that need ultra, high-end batteries. The high purity of the products that we produce combined with ALE's innovative and patented battery manufacturing processes will enable us to collaboratively supply industry best safety in refining, manufacturing and unmatched performance."

Dr. Jiang Fan, Founder and Chairman of American Lithium Energy Corp., commented, "We are excited about forming this partnership with ReElement Technologies. Being one of the only scalable, domestic and cost-competitive refining solutions that is able to safely process and purify various lithium and critical mineral feedstocks to greater than 99.986% purity through their patented process, ReElement Technologies is a key domestic partner to ALE as we expand our own production of specialty, high-performance batteries. Our collaboration, not only on feedstock and high-purity battery materials, but also on combining our respective manufacturing processes, will be a first in the United States and one that can serve as a model for additional lithium-ion and other chemistry battery production domestically."

The partnership between ReElement Technologies and ALE initially targets the following key agreements:

• An offtake agreement between ReElement Technologies and ALE whereby ReElement Technologies will supply ALE high-purity, battery-grade lithium and other key minerals that will be used by ALE's suppliers to provide ALE domestically sourced material for their battery manufacturing process.
• A supply agreement where ALE will provide ReElement Technologies feedstocks such as end-of-life batteries, non-spec cells and manufacturing scrap to be used by ReElement Technologies in their patented chromatography process for refining back into ultra-high pure, battery-grade minerals at both ReElement Technologies' currently operating and planned facilities, and other locations identified between the parties.
• Co-locating each company's respective operations directly alongside the others creating a seamless and sustainable production line where ReElement Technologies will place its refining operations alongside ALE's (and ALE's partners' facilities), providing a method of recycling waste and end-of-life materials directly back into ALE's battery manufacturing process. Due to the highly favorable environmental and permitting aspects of ReElement Technologies' modular refining capacity, the Company can efficiently locate its production lines alongside almost any facility with minimal incremental cost to its partner.

Concurrent with the partnerships, , American Resources and affiliates will invest up to $3,000,000 into ALE as a lead investor in a capital raise conducted by ALE to help accelerate the company's production expansion and product innovation.

ReElement Technologies is committed to leading the world and domestic supply chain for the refining of rare earth and 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 chemistries) and environmentally safe replacement to the existing environmentally and socially toxic alternatives 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.

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

Learn more about American Lithium Energy here - Website.

About American Lithium Energy LLC

American Lithium Energy is shipping the world's highest energy density silicon-based lithium-ion batteries with industry best safety and zero-volt stability. Existing lithium battery technologies cannot meet the rapidly growing demand for more powerful, longer-lasting, smaller, and safer batteries. ALE's patented technologies eliminate the need for trade-offs between energy density, lifecycle, and safety: ALE's cells deliver all three. ALE's patented lithium battery safety technologies generate extremely high-power, high-energy-density lithium cells while simultaneously delivering unmatched and unparalleled safe performance. ALE has been actively engaged and shipping products to the Department of Defense, Department of Energy, and several US defense primes for the past 10+ years. ALE batteries also have broad applications in Medical Devices, Smart Wearable, Space, and EV markets, where it is closely engaged with customers on broad commercialization.

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
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

SOURCE: American Resources Corporation