American Resources Corporation Names Mineral Labs Inc. as Its Lab of Record for the Company's American Rare Earth Division

Rhea-AI Summary

American Resources Corporation (NASDAQ: AREC) has selected Mineral Labs Inc. as its Lab of Record for conducting rare earth element analysis and sampling. This collaboration aims to enhance the commercialization and future expansion of American Rare Earth LLC, a wholly owned subsidiary. With a history dating back to 1975, Mineral Labs boasts extensive experience and a presence across states in the Central Appalachian and Illinois coal basins. The partnership's goal is to scale operations and identify high-value targets within coal-based deposits to meet growing market demands.

Positive

• Selection of Mineral Labs as Lab of Record to enhance operational scalability.
• Mineral Labs has extensive experience since 1975 and operates across various states.
• Partnership aims to meet growing market demand for rare earth elements.

Negative

• None.

Mineral Labs Inc. provides scalability for lab resources to accelerate commercialization and future expansion for Company

Mineral Labs, an ISO certified lab, has been operating in the region since 1975

Analyzing rare earth and critical elements from coal-based deposits has been proven to be economical with the potential to produce pure rare earth elements from concentrate

FISHERS, IN / ACCESSWIRE / October 15, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, today announced that its wholly owned subsidiary, American Rare Earth LLC, has named Mineral Labs Inc. (or "MLI") as its Lab of Record for rare earth element analysis and sampling. The Company will continue its work with Mineral Labs and its partners to not only expand sites within its current operational footprint but also identify high-value targets and deposits for expansion throughout coal-based deposits and coal-based sites.

Mark Jensen, CEO of American Resources Corporation commented, "When choosing a laboratory partner for our rare earth division, it was imperative that we have the highest quality of accuracy and timeliness within our sampling and analysis program. We have a long history with Mineral Labs, and they have consistently proven to us again and again that they provide exceptional service and accuracy during our existing sampling programs. Given our plans to rapidly scale this division, it is imperative that our partners have the scale to meet our growth expectations. Minerals Lab possesses all these attributes and currently has a presence in every state within the Central Appalachian and Illinois coal basins, which is optimal for our planned rare earth expansion."

Mineral Labs, founded in 1975, is a nationally-recognized laboratory that has a deep understanding of the various levels of analysis and sampling in the coal regions throughout the US. The Company has grown to include 8 laboratories in 5 states and approximately 100 employees with the core management staff possessing over 150 years of combined experience. MLI adheres to the concepts of ISO 17025, paired with detailed quality control program consisting of internal and external audits to ensure maximum efficiency and accuracy.

Sharlonda Carroll, Chief Chemist of Mineral Labs commented, "We are extremely excited to earn the business as Lab of Record for American Rare Earth. We developed our rare earth analysis program to meet the needs of the robust market for analyzing rare earths from coal-based sources. We look forward to continuing our work with the American Rare Earth team to ensure they can meet their growth expectations and provide their customer with excellent qualities and results."

About American Resources Corporation

American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.

American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. 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.

PR Contact:
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co

Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com

Company Contact:
Vice President of Corporate Finance and Communications
Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com

SOURCE: American Resources Corporation

View source version on accesswire.com:
https://www.accesswire.com/610526/American-Resources-Corporation-Names-Mineral-Labs-Inc-as-Its-Lab-of-Record-for-the-Companys-American-Rare-Earth-Division

FAQ

What is the significance of American Resources Corporation naming Mineral Labs as its Lab of Record?

It enhances the company's capabilities in rare earth element analysis and sampling, crucial for its expansion plans.

How does the partnership with Mineral Labs impact AREC's future growth?

The partnership aims to scale operations and identify valuable targets, supporting AREC's growth objectives in the rare earth market.

When was the press release about Mineral Labs being named Lab of Record published?

The press release was published on October 15, 2020.

What is the primary focus of American Resources Corporation?

American Resources Corporation focuses on supplying raw materials to the global infrastructure market, particularly through the extraction and processing of metallurgical carbon.

What experience does Mineral Labs bring to the partnership with AREC?

Mineral Labs has over 150 years of combined experience in analysis and sampling, operating since 1975.