Arizona Tribune - ReElement Announces $46 Million in Non-Dilutive Federal NMTC Allocation to Support Indiana Critical-Minerals Refining Expansion

FISHERS, IN / ACCESS Newswire / November 5, 2026 / American Resources Corporation (NASDAQ:AREC) ("American Resources") through its strategic minority holding in ReElement Technologies Corporation ("ReElement"), a leading U.S. developer and operator of advanced rare earth and critical-mineral refining capacity, today announced that its Marion, Indiana project is supported by an aggregate $46 million in non-dilutive federal New Markets Tax Credit (NMTC) allocation. The associated financing will support phase-one investment in refining equipment and working capital as ReElement expands domestic capacity to produce high-purity materials for U.S. and allied industrial supply chains.

The NMTC-supported transaction is part of ReElement's disciplined approach to capital formation. By accessing tax-credit-supported financing alongside other capital sources, the Company seeks to improve the cost and flexibility of funding for long-lived manufacturing infrastructure without issuing additional ReElement equity in connection with this financing. The structure is intended to complement ReElement's modular, demand-aligned expansion strategy while preserving financial flexibility as the business scales.

ReElement's Marion development builds on the city's industrial heritage and supports the domestic refining of rare earth elements and other critical minerals used in defense, aerospace, semiconductor, permanent-magnet, automotive and advanced manufacturing supply chains. The Company's refining-first platform uses advanced chromatography-based separation and purification technology to produce ultra-pure, specification-grade materials from diverse primary and recycled feedstocks. Its modular approach is designed to more efficiently align refining investments with secure feedstocks and verified downstream customer demand.

The first phase at Marion is expected to create 189 jobs, approximately 90% of which are expected to be accessible to individuals with a high school diploma. A $2.1 million funding commitment to workforce training and development will support career pathways that may include apprenticeships, two-year degree programs and advanced technical certifications. These initiatives are intended to expand access to skilled, higher-wage manufacturing careers and opportunities for long-term advancement in Marion.

"Building resilient U.S. critical-mineral supply chains requires disciplined investment in both advanced refining capacity and the people who will operate it," said Kirk Taylor, Chief Financial Officer of ReElement. "This NMTC-supported financing demonstrates how we are pursuing capital-efficient, non-dilutive funding to expand our domestic manufacturing platform while supporting meaningful job creation, competitive wages and accessible pathways to long-term careers in Marion."

The federal NMTC program is designed to attract private investment into eligible low-income communities by providing federal tax credits to investors in qualifying transactions. For manufacturers investing in facilities, equipment and workforce development, NMTC-supported structures can provide a complementary source of long-term capital while supporting local economic development.

About ReElement Technologies Corporation

ReElement Technologies Corporation, a portfolio holding of American Resources Corporation (NASDAQ:AREC), is a leading U.S. developer and operator of advanced rare earth and critical mineral refining capacity. The Company has developed a modular, refining-first platform that efficiently separates and purifies high-purity rare earth elements and critical minerals from a diverse range of primary mineral concentrates, recycled materials, industrial byproducts and other unconventional feedstocks.

Built around proprietary chromatography-based separation and purification technology, ReElement's commercial platform is designed to produce specification-grade materials while reducing chemical consumption, minimizing environmental impact and enabling flexible, capital-efficient deployment. Its modular architecture allows refining capacity to expand in alignment with customer demand, feedstock availability and evolving strategic priorities.

ReElement collaborates with commercial, industrial and government partners to strengthen secure, resilient and commercially sustainable domestic and allied critical mineral supply chains supporting defense, semiconductors, advanced manufacturing, permanent magnets, energy and battery technologies. For more information visit reelementtech.com or connect with the Company on Facebook, X, and LinkedIn.

About American Resources Corporation (NASDAQ:AREC)
American Resources Corporation is strategically developing an integrated critical materials ecosystem through its Platform Orchestration strategy, which brings together complementary capabilities across commercial feedstock origination, industrial processing, and advanced refining. Through this capital-efficient approach, the Company is building a flexible platform designed to adapt to evolving technologies, customer requirements, and national priorities while strengthening domestic and allied critical mineral supply chains.

The Company's operating platforms span conventional and unconventional resource sourcing, feedstock aggregation, recycling, processing, conditioning, and advanced refining through its strategic affiliation with, and former parent relationship to, ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth elements and critical minerals. Together, these complementary capabilities enable American Resources to efficiently align diverse feedstock sources with growing commercial, industrial, and defense-sector demand.

American Resources' modular, asset-light business model emphasizes disciplined capital allocation, scalable growth, and strategic partnerships. By integrating complementary operating platforms rather than relying on traditional vertical integration, the Company is positioned to expand efficiently while supporting resilient, commercially sustainable supply chains across infrastructure, defense, advanced manufacturing, semiconductors, energy, and electrification markets. For more information visit americanresourcescorp.com or connect with the Company on Facebook, 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.

Company Contact:
Mark LaVerghetta
[email protected]

SOURCE: American Resources Corporation

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