American Resources Corporation’s ReElement Technologies Signs Lithium Offtake and Partnership Agreements with American Lithium Energy Corporation - Seite 2

Dr. Jiang Fan, Founder and Chairman of American Lithium Energy Corp., commented, "We are excited about forming this partnership with ReElement Technologies. Being one of the only scalable, domestic and cost-competitive refining solutions that is able to safely process and purify various lithium and critical mineral feedstocks to greater than 99.986% purity through their patented process, ReElement Technologies is a key domestic partner to ALE as we expand our own production of specialty, high-performance batteries. Our collaboration, not only on feedstock and high-purity battery materials, but also on combining our respective manufacturing processes, will be a first in the United States and one that can serve as a model for additional lithium-ion and other chemistry battery production domestically."

The partnership between ReElement Technologies and ALE initially targets the following key agreements:

• An offtake agreement between ReElement Technologies and ALE whereby ReElement Technologies will supply ALE high-purity, battery-grade lithium and other key minerals that will be used by ALE's suppliers to provide ALE domestically sourced material for their battery manufacturing process.
• A supply agreement where ALE will provide ReElement Technologies feedstocks such as end-of-life batteries, non-spec cells and manufacturing scrap to be used by ReElement Technologies in their patented chromatography process for refining back into ultra-high pure, battery-grade minerals at both ReElement Technologies' currently operating and planned facilities, and other locations identified between the parties.
• Co-locating each company's respective operations directly alongside the others creating a seamless and sustainable production line where ReElement Technologies will place its refining operations alongside ALE's (and ALE's partners' facilities), providing a method of recycling waste and end-of-life materials directly back into ALE's battery manufacturing process. Due to the highly favorable environmental and permitting aspects of ReElement Technologies' modular refining capacity, the Company can efficiently locate its production lines alongside almost any facility with minimal incremental cost to its partner.

Concurrent with the partnerships, , American Resources and affiliates will invest up to $3,000,000 into ALE as a lead investor in a capital raise conducted by ALE to help accelerate the company's production expansion and product innovation.