Arizona Tribune - American Resources Corporation Selected by U.S. Department of Energy for Award Negotiations to Advance Critical Mineral Recovery from Coal-Based Feedstocks

FISHERS, IN / ACCESS Newswire / July 9, 2026 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a leader in the critical mineral supply chain, today announced that the Company has been selected by the U.S. Department of Energy ("DOE") for award negotiations under the Mines & Metals Capacity Expansion - Piloting Byproduct Critical Minerals and Materials Recovery at Domestic Industrial Facilities funding opportunity.

American Resources is one of five organizations selected under Topic Area 1: Mines & Metals Pilots - Coal-Based Industry. The program is intended to support pilot-scale facilities capable of recovering rare earth elements and other critical materials from coal and coal-based feedstocks at domestic industrial sites.

American Resources will lead a consortium-based project focused on advancing an integrated processing approach for the recovery and production of rare earth elements and other critical materials from unconventional domestic feedstocks, including coal-based byproducts. ReElement Technologies Corporation ("ReElement"), in which American Resources maintains a minority ownership interest, is a member of the consortium team and is expected to contribute its advanced refining and separation capabilities to the project.

The consortium's approach is designed to evaluate and sequence existing, high-technology-readiness-level unit operations that can efficiently concentrate, condition and prepare complex coal-based feedstocks for downstream separation and purification. The project is expected to focus on establishing the most effective front-end processing pathway to produce feedstock streams suitable for advanced refining technologies, including ReElement's chromatographic separation platform.

"American Resources has spent years developing a practical understanding of the opportunity within coal-based byproducts and other unconventional domestic feedstocks," stated Mark C. Jensen, Chairman and Chief Executive Officer of American Resources Corporation. "The challenge is not simply identifying where critical minerals occur. The challenge is establishing an economically viable process flow that can efficiently recover, concentrate, separate and refine those elements into marketable products."

"This project is designed around that commercial reality," continued Jensen. "By sequencing proven unit operations into high-TRL technologies and connecting those operations to ReElement's advanced chromatography platform for final-stage separation and purification, we believe there is a meaningful opportunity to unlock value from feedstocks that have historically been overlooked or considered too complex to process economically."

The project will evaluate how established process technologies can be integrated to recover and upgrade rare earth elements and other critical materials from coal-based sources before directing qualified material streams into advanced refining operations. ReElement's multi-element, multi-feedstock platform is designed to separate and purify complex material streams into the specific high-purity products required by commercial customers across defense, energy, advanced manufacturing, technology and other strategic sectors.

"ReElement's refining-first model was developed to address one of the most important bottlenecks in the critical mineral supply chain: the ability to efficiently separate and purify complex inputs into qualified, high-value products," said Jensen. "This DOE-supported initiative provides an opportunity to demonstrate how that capability can be integrated with practical front-end unit operations to create a more complete and economically viable domestic supply-chain solution."

American Resources' role in the consortium builds upon the Company's strategic focus on critical mineral feedstock sourcing, resource development, preprocessing, trading and selective investment across the value chain. The Company is positioned to help identify and develop unconventional feedstock opportunities while serving as a strategic gateway to ReElement's advanced refining capabilities.

The Company expects the project to support the broader development of domestic supply chains for rare earth elements and other critical materials by advancing technologies capable of converting coal-based byproducts and related materials into commercially viable feedstocks for downstream refining.

The DOE selection is subject to a negotiation process. Selection for award negotiations does not constitute a commitment by DOE to issue an award or provide funding, and any award amount remains subject to final negotiations and DOE approval.

About American Resources Corporation (NASDAQ:AREC)

American Resources Corporation has established a comprehensive solution platform across the rare earth and critical mineral supply chain, leveraging its affiliation with, and former parent relationship to, ReElement Technologies Corporation - a leading provider of high-performance refining capacity for rare earth and critical battery elements. The Company is advancing efficient upstream and downstream critical mineral operations.

These operations span conventional and unconventional resource sourcing and development, as well as recycling and manufacturing, enabling American Resources to aggregate and process diverse feedstocks while efficiently aligning supply with end-market demand.

American Resources has established a nimble, low-cost business model focused on scalable growth. Its streamlined approach enables the Company to expand its asset portfolio and meet increasing global demand across infrastructure, defense, technology, and electrification markets - while maximizing margins and maintaining cost discipline. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.

About ReElement Technologies Corporation

ReElement Technologies Corporation, a minority holding of American Resources Corporation (NASDAQ:AREC), is a leading provider of high-performance refining capacity for rare earth elements and critical minerals. Its refining-first, multi-mineral, multi-feedstock platform is designed to process a wide range of inputs - including recycled materials from permanent magnets, lithium-ion batteries, and industrial, defense, and technology waste streams, as well as mined ores, brines, and coal-based byproducts - into high-purity products that support a cost-effective, environmentally responsible, and circular supply chain.

ReElement's innovative and scalable "Powered by ReElement" process leverages its exclusively licensed and internally developed intellectual property, integrating directly into partners' material processing flowsheets to enhance efficiency and adaptability across the global critical mineral supply chain. For more information visit reelementtech.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.

Company Contact:

Mark LaVerghetta
317-855-9926 ext. 0
[email protected]

SOURCE: American Resources Corporation

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