Initial Germanium Production Line Advancing Toward Commercial Operations in Third Quarter 2026, On Time and Under Budget

Four-Line Phase 1 Buildout Expected to Provide More Than 16,000 Metric Tons of Annual High-Purity Rare Earth and Critical Mineral Refining Capacity

FISHERS, IN / ACCESS Newswire / June 22, 2026 / American Resources Corporation (NASDAQ: AREC) ("American Resources") today provided a progress update on the Phase 1 buildout of the Marion, Indiana rare earth and critical mineral refining campus being developed by its affiliated minority holding, ReElement Technologies Corporation ("ReElement").

ReElement is advancing a refining-first, multi-element and multi-feedstock platform designed to produce high-purity rare earth and critical mineral products from recycled materials, industrial byproducts, manufacturing scrap and primary feedstocks. The Marion campus is the commercial-scale deployment of work ReElement has spent more than four years validating at its Noblesville, Indiana commercial qualification facility, where the Company has demonstrated process performance, product quality and feedstock flexibility across a growing range of strategic materials.

The first commercial production line planned for Marion is focused on germanium and related strategic materials from recycled and primary sources. A majority of the key equipment required for the initial germanium line is on site or currently being delivered and assembled, with the Company targeting commercial operations during the third quarter of 2026.

Mark Jensen, Chief Executive Officer and Chairman of ReElement Technologies and American Resources Corporation, commented, "ReElement is not building a legacy refining facility around one mine, one feedstock or one product. We are building a modular, multi-element, multi-feedstock refining platform designed to compete in the global market on quality, cost, speed and flexibility.

"The critical mineral industry has spent decades accepting the idea that rare earth and critical mineral refining must be capital intensive, chemically burdensome, dependent on a single geography and subsidized indefinitely. We do not believe that model is sustainable or necessary. ReElement's refining-first platform is designed to leapfrog that legacy approach by deploying demand-aligned commercial production lines that can process recycled and primary feedstocks into high-purity products for defense, technology, energy and advanced manufacturing customers.

"Our Marion campus is the commercial-scale deployment of work that has already been validated at Noblesville. The Phase 1 buildout consists of four dedicated production lines with aggregate annual capacity of more than 16,000 metric tons of high-purity rare earth and critical mineral products once fully commissioned. We are building this capacity to serve real customer demand, create domestic and allied supply chain options and compete economically without requiring the market to wait years for traditional mine-to-magnet projects to become operational.

"ReElement's advantage is not simply capacity. It is the ability to produce multiple strategic materials from multiple feedstocks using a more modular and cost-efficient process. That flexibility allows us to respond to market demand, localize refining closer to supply and customers, and continue expanding capacity as commercial opportunities develop in the United States and globally."

A New Model for Domestic and Allied Refining

ReElement's refining-first platform is designed to address one of the largest bottlenecks in the rare earth and critical mineral supply chain: scalable, cost-conscious separation and purification capacity.

Traditional solvent extraction systems are often designed around specific feedstocks and require large, fixed infrastructure, substantial chemical consumption and cost, and complex operating systems. Those systems can be difficult to deploy economically outside of China, particularly in markets where chemical costs, environmental compliance, labor costs and permitting timelines are materially different.

ReElement's chromatography-based refining platform is designed to provide a different path. The Company's approach uses modular production lines that can be configured around specific feedstocks, customer requirements and target products. ReElement's platform is designed to process diverse recycled and primary inputs, including rare earth permanent magnet material, industrial and defense waste streams, manufacturing scrap, battery materials, mixed rare earth carbonates, mixed rare earth oxides and other critical mineral-bearing materials.

This refining-first model enables ReElement to align commercial capacity with actual customer demand and available feedstocks rather than constructing a single, fixed facility that must depend on one mine, one material stream or one end market. The Company's Noblesville facility has served as the commercial qualification foundation for that model, allowing ReElement to validate feedstock-specific process conditions and produce high-purity products for customers and strategic partners before deploying dedicated commercial-scale lines at Marion.

Marion Campus and Strategic Logistics Position

The Marion refining campus is located on approximately 42 acres and includes more than 400,000 square feet of industrial space. Phase 1 is expected to utilize approximately 160,000 to 200,000 square feet as production lines are installed and commissioned, with additional space available for future expansion as customer demand, feedstock opportunities and product requirements develop.

The campus also includes a foundation-ready pad of approximately 250,000 square feet that may support future production, preprocessing, metallization or related strategic development. ReElement has renovated substantial portions of the facility for more than a year with the support of local contractors, tradespeople and community partners.

The site provides meaningful logistics advantages, including approximately 36 truck loading bays, truck access into the building and on-site rail loading capability. These features are expected to support the efficient movement of equipment, feedstocks, supplies, components and finished products as ReElement scales production.

Phase 1 development is expected to create approximately 100 advanced manufacturing, engineering, technical and support positions, with the potential to create up to approximately 300 jobs as the campus expands through future phases.

Phase 1 Production Lines and Capacity

Commercial Production Deployment Expected from the Third Quarter of 2026 Through the First Quarter of 2027

Phase 1 of the Marion campus represents a four-line, multi-feedstock commercial refining platform designed to process both recycled materials and primary concentrates. Once fully commissioned, the four planned production lines are expected to provide aggregate annual capacity of more than 16,000 metric tons of high-purity separated rare earth and critical mineral products.

Each production line is designed around specific feedstocks, product specifications and customer requirements while sharing certain site infrastructure and operating capabilities to support efficiency, flexibility and phased expansion. Production capacity is expected to be deployed in stages beginning in the third quarter of 2026 and continuing through the first quarter of 2027.

Germanium, Gallium and Strategic Materials Line

The initial Marion production line is designed to focus on germanium, gallium and related strategic materials from recycled and primary sources. Germanium is used in defense optics, optical fiber, semiconductor applications, advanced optics and other critical technologies.

ReElement has resumed daily commercial production of germanium dioxide at its Noblesville facility, restoring a strategic product capability that has not existed at commercial scale in the United States for decades. The Marion line is designed to expand that capability through dedicated commercial-scale production.

Capacity: More than 500 metric tons annually at 99.5% purity or greater.

Specialty Hard Products Recycling Line

This production line is designed to process thermal barrier coatings and specialty recycled materials containing yttrium, gadolinium, zirconium, samarium, cobalt and other strategic elements used in aerospace, defense, industrial and advanced technology applications.

Capacity: More than 2,000 metric tons annually at 99.9% to 99.99% purity.

Rare Earth Elements - Recycled Feedstocks Line

This production line is designed to process magnet-grade rare earth elements from recycled feedstocks, including magnet swarf, hard drives, electric vehicle motors, wind turbine magnets and industrial scrap.

Target Products: Neodymium, praseodymium, dysprosium and terbium.

Capacity: Up to 7,000 metric tons annually at 99.5% purity or greater.

Rare Earth Elements - Primary Feedstocks Line

This production line is designed to process mixed rare earth carbonates, mixed rare earth oxides and other primary concentrates sourced from domestic and allied supply chains.

Target Products: Neodymium, praseodymium, dysprosium, terbium, yttrium, gadolinium, samarium and other rare earth and critical mineral products.

Capacity: Up to 7,000 metric tons annually at 99.5% to 99.999% purity.

Permitting and Responsible Facility Development

ReElement is advancing the Marion campus through a deliberate, phased development process that aligns equipment, feedstocks, product specifications, customer requirements and applicable permits for each production line.

The Company has taken a proactive approach to facility readiness and permitting because its platform is designed to process multiple feedstocks and produce a broad range of rare earth and critical mineral products over time. Rather than waiting until each individual customer opportunity or production line is fully developed, ReElement is working with the appropriate state and local agencies to ensure that the Marion campus is positioned to support both current operations and future commercial expansion.

This approach reflects the flexibility of ReElement's multi-element, multi-feedstock platform. Different materials, equipment configurations and production lines may require different operating controls, approvals or permits as the campus expands. ReElement is building the physical, operating and regulatory foundation needed to support that growth responsibly and efficiently.

The Company appreciates the engagement and support of Governor Braun, the State of Indiana, the Indiana Department of Environmental Management, Mayor Morrell, the City of Marion and local community stakeholders as ReElement advances domestic refining capacity for commercial, defense, energy and advanced technology markets.

Customer Demand and Commercial Model

ReElement is working with a broad range of customers and strategic partners across defense, technology, materials science, advanced manufacturing, optical products, semiconductors, industrial applications and energy markets.

The Company's customers and partners are seeking solutions for materials ranging from recycled permanent magnets, battery materials and technology scrap to specialty industrial residues, defense-related materials and primary rare earth concentrates. ReElement's model is designed to provide customers with a domestic and allied alternative for refining complex materials into high-purity products that can be returned to their supply chains or directed into new commercial markets.

On recycled feedstocks, ReElement is already producing and delivering separated and purified products at purities ranging from 99.5% to 99.999%, depending on the material and product specification. In appropriate circumstances, the Company may provide tolling or processing services that return refined products to customers at pricing structures linked to the applicable market value of the recovered elements and the nature of the incoming feedstock.

Platform Advantages

ReElement's refining-first platform is designed to provide:

• Modular and scalable refining capacity;

• Multi-element, multi-feedstock processing flexibility;

• Demand-aligned production capacity built around specific customer requirements;

• The ability to process both recycled and primary materials;

• The ability to localize refining closer to feedstock sources and end markets;

• Lower capital intensity and a smaller physical footprint than many conventional refining systems;

• Reduced chemical, energy and labor intensity relative to legacy solvent extraction approaches; and

• A pathway to produce high-purity, specification-grade rare earth and critical mineral products for domestic and allied supply chains.

Jensen concluded, "The critical mineral market does not need another announcement about capacity that may take a decade to develop. It needs refining capacity that can be built, qualified and deployed against real customer demand. That is what ReElement is delivering through Noblesville, Marion and our expanding network of commercial and strategic partners. We intend to demonstrate that rare earths and critical minerals can be refined at globally competitive economics in the United States, while building a more resilient, more flexible and more commercially sustainable supply chain. We believe our platform is the innovation needed to position the United States as a world leader in critical minerals."

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.

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.

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
investor@americanresourcescorp.com

SOURCE: American Resources Corporation