AM Resources Completes Compilation Work with the Discovery of 94 New Pegmatites for a Total of 281 Pegmatites on its 1,500 km² Land Package in Austria

• Recently announced 1,500 km² land package gives AM Resources control over a large area of the Austrian Pegmatite Belt.
  
• Compilation of government data resulted in the discovery of 94 additional pegmatites across two groups, with sizes ranging from 40 metres to 2,100 metres.

• Many pegmatites are strategically located within mica schists, indicating favorable conditions for lithium-bearing minerals.
• Latest discoveries continue to reinforce AM Resources’ position in the Austrian Pegmatite Belt, located within proximity to European battery manufacturers.

MONTREAL, April 18, 2024 (GLOBE NEWSWIRE) -- AM Resources Corporation (“AM Resources” or the “Company”) (TSXV: AMR) (Frankfurt: 76A), a dynamic junior mining company focused on the exploration and development of high-potential pegmatite lithium deposits, is pleased to announce that it has completed the compilation of government data on its newly acquired 1,500 km² land package (see press release dated March 21, 2024) with the discovery of 94 new pegmatites. AM Resources has now identified a total of 281 pegmatites, consolidating its strategic position in one of Austria’s most prospective lithium areas.

AM Resources’ 1,500 km² land package

First Group
The Company has identified a pegmatite corridor comprising of 88 pegmatites with lengths varying from 40 metres to 1,200 metres. A total of 38 pegmatites are located within mica schists, a geological setting favorable for the presence of lithium-bearing minerals. The other pegmatites are hosted within lenticular pegmatoid gneiss, which is less favorable to the presence of lithium-bearing minerals.

Second Group
An additional 6 pegmatites with one reaching over 2,100 metres in length were discovered. These pegmatites are located within mica schists, a geological setting favorable for the presence of lithium-bearing minerals.

David Grondin, CEO of AM Resources stated: “Through our compilation work, our technical team has identified 281 pegmatites, the longest of which exceeds 2 km in length. When we began our journey in Austria over a year ago, we were aware of the potential of the Austrian Pegmatite Belt. However these discoveries are beyond our expectations. This preliminary assessment of our new land package is extremely exciting and we look forward to a summer exploration and sampling campaign that will target each of these pegmatites.”