Recycling feedstock such as EV motors, HDDs, wind turbines, MRI machines, and other permanent magnet-containing materials scaling to 2,000+ metric tons per annum

The partnership brings together two companies from two nations that are dedicated to developing cost effective domestic supply chains for critical minerals and rare earth elements

FISHERS, IN / ACCESS Newswire / June 3, 2025 / American Resources Corporation (NASDAQ: AREC) ("American Resources"), through its holding in ReElement Technologies Corporation ("ReElement" or "RTC"), a leading U.S. innovator in rare earth element (REE) and critical mineral refining, announced today that it has signed a memorandum of understanding (MOU) to enter into a joint venture agreement with Exigo Battery Solutions Pvt. Ltd. ("Exigo") to have the joint venture entity utilize ReElement's proprietary rare earth oxide refining technologies within the United States and in India along with Exigo's ability to source, process, and supply rare earth concentrates to be efficiently and cost effectively refined to separated and purified 99.5%+ oxides (NdPr, Nd, Dy, Tb). The goal of the joint venture is to grow the partnership to 2,000 metric tons or greater per year as part of the joint venture commercial relationship.

Exigo will initially supply rare earth concentrates to ReElement's Marion, Indiana facility to be refined to magnet grade oxides, with the goal of expanding thereafter by deploying ReElement's technology to India to refine such rare earth elements.

Mark Jensen, Chairman of ReElement Technologies, stated "We believe collaboration and coordination is the key to developing a cost competitive supply chain in the rare earth industry. The team at Exigo has been excellent to work with and the partnership is built to enable the combined JV to be able to compete head-to-head on cost, purity and scalability with the current supply chain. Utilizing ReElement's technology to refine end-of-life magnets to separated, purified heavy and light rare earth oxides is a relatively straightforward process and something we have been doing in Indiana for over three years. We are excited to partner with the Exigo team to help source and supply feedstock for our current slate of customers in Marion, IN where we both benefit from the profit generated off the final high purity oxides, maximizing value for both parties while also insulating the partnership from a cost perspective.

Rahul Singh, Business Head of Exigo Battery Solutions Pvt. Ltd. commented further "As Exigo expands its international presence we are excited to partner with an innovative and proven American company where we can jointly unlock the value of the rare earth supply chain. Our goal is to provide substantial feedstock to the joint venture through our consolidation and processing network to become a major player in the rare earth marketplace. We are also excited to work with ReElement to ultimately deploy their technology within India to further drive down costs and reduce the need for logistics in the future."

ReElement utilizes its patented technology for the separation and purification phase of rare earth and critical battery and defense material processing and refining that maximizes the surface area interface by using columns and resins, rather than toxic acids and solvents typically used in hydrometallurgical processes. Utilizing its patented technology, it is able to eliminate a significant amount of CapEx, physical footprint, environmental impact, chemicals and associated OpEx to create the separation and purification of rare earth and critical minerals. The technology was designed over decades from commercially operating processes in the separation and purification of fructose and glucose in the sugar industry to commercial production of insulin in the pharmaceutical industry.

ReElement Technologies is committed to leading the domestic supply chain for refined rare earth and critical battery elements in the electrified economy and national security needs. The Company has proven that its patented chromatographic separation and purification technology is a low cost, scalable, flexible and environmentally safe replacement to the legacy environmentally and socially toxic alternatives used for critical and rare earth element separation and purification. As the Company executes and scales the production at its own and partner facilities, 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.

About ReElement Technologies Corporation
ReElement Technologies Corporation 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 American Resources Corporation
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 Exigo Battery Solutions Pvt. Ltd
Exigo, a decade-old leader in advanced recycling technologies, is committed to building a circular economy through the recovery of critical and rare earth metals. As India accelerates its clean energy and electronic transitions, Exigo stands at the forefront with cutting-edge processes for e-waste, EV batteries, and solar panel recycling. Now, in a strategic joint venture with U.S.-based ReElement Technologies, Exigo is taking a major step to localize the rare earth and critical material supply chain-closing the loop entirely within India. For more information visit batteries.exigorecycling.com or connect with the Company on , X, 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
(908) 824 - 0775
arec@jtcir.com

Media Inquiries:
Marjorie Weisskohl
703-587-1532
mweisskohl@allseasonspr.com

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

Rahul Singh
+919560585292
batterysolutions@exigorecycling.com

SOURCE: American Resources Corporation