Mr. David Grondin reports

AM RESOURCES ACQUIRES SIGNIFICANT LAND PACKAGE IN THE AUSTRIAN PEGMATITE BELT

AM Resources Corp. has acquired a significant land package totalling 1,500 square kilometres through map staking in Austria. The newly acquired land is located in the Austrian pegmatite belt within the Austroalpine Nappes, known for its geological diversity and rich mineral endowment.

Lithium exploration country play

AM Resources has positioned itself to become the only lithium exploration country play in a proven jurisdiction with an existing Tier 1 lithium mine project and located within 620 kilometres of end-users.

The AM Resources team has been actively assembling a massive prospective land package with four key elements at the core of its strategy: proven geology, proximity to key markets, historical expertise and a clear, proven mining code. Of the few jurisdictions that qualified, Austria was the obvious choice. AM Resources' properties are located within 620 kilometres of 14 planned battery plants and have direct access to an extensive rail system. Mining in Austria predates the founding of the country with the world's oldest salt mine in operation. In addition, mining has a tradition of skilled labour and an extensive academic and geological service network. In its report on the mining industry, Minlex (commissioned by the European Union) concluded, "In Austria, operators have investment security and legal certainty." When it combines all these elements and adds in the massive land package available, the company believes it has a unique investment proposition for its shareholders.

David Grondin, chief executive officer of AM Resources, commented: "Seizing this unique opportunity in a proven mining-friendly jurisdiction was a no-brainer for us. We are very excited to have assembled such a large, high-value prospective property. We were diligent in testing and proving our theory last summer when we acquired two properties based on geological probabilistic structures, and went to the ground and found spodumene on each one of them. Following this confirmation, we have staked all currently available claims that we believe to be of geological interest in the proven Austrian pegmatite belt."

Within the new property acquisition, the company is excited to add the Frederick property to its portfolio with 112 identified pegmatites in an area of 52.25 square kilometres. The longest identified pegmatite measures over 750 metres in length. This property demonstrates the exceptional potential of the Austrian pegmatite belt. The combination of the number and size of the identified pegmatites makes this property one of the team's top priorities for the company's next exploration campaign.

AM Resources' new Frederick property

"This strategic acquisition represents a pivotal moment in AM Resources' growth plan and strengthens its position in one of the most prospective mineral regions in Europe. This acquisition fits perfectly with our growth strategy and underscores our confidence in the mineral potential of Austria. The geological diversity for other minerals and the presence of extensive pegmatite systems provide exciting discovery opportunities. To do so in such an overlooked, regulatory stable mining jurisdiction makes it even more exhilarating," added Mr. Grondin.

The company has spent the last few months building long-lasting local relationships with the government, service providers and professionals, and is looking forward to carrying out exploration activities, continuing to investigate new lithium discoveries made during the last summer campaign, as well as exploring new prospective ground. In addition, AM Resources is considering expanding its land position to further enhance its strategic position.

New land package geology

Geological surveys indicate the presence of several thousand pegmatites variably distributed throughout the area. These pegmatite-bearing units consist primarily of mica schist and paragneiss, often containing staurolite and/or aluminosilicate-rich layers, with protoliths expected to range in age from Neoproterozoic to Carboniferous.

The spodumene pegmatites typically occur as dikes ranging in length from a few tens of metres to over one kilometre, with thicknesses varying from a few decimetres to several metres. These pegmatites, together with leucogranites, which occur as inhomogeneous bodies with pegmatitic and aplitic zones, cover extensive areas of up to 1,500 square kilometres. Their sharp contact with host rocks, sometimes with narrow reaction zones, underscores their geological importance.

This geological area has led to the discovery of the Wolfsberg deposit with over 10 million tonnes grading in excess of 1 per cent spodumene. AM Resources' business model is to explore for a deposit of this magnitude on its newly acquired properties.

Warrant extension

The company also announces that it has applied for the TSX Venture Exchange's approval to extend the term of an aggregate of 13,155,000 common share purchase warrants. The warrants were originally issued as part of a private placement that closed in two tranches dated April 6 and April 29, 2022, respectively. The expiry dates will be extended as set out in the attached table.

All other terms of the warrants will remain unchanged.

Qualified person

Technical information related in this news release has been reviewed and verified by Jean Lafleur, PGeo, of Pjlexpl Inc., a registered geologist with the Ordre des Geologues du Quebec (OGQ No. 833), who is a qualified person as defined by National Instrument 43-101. Mr. Lafleur is independent from the company, and has reviewed and approved the disclosure of the AM Resources geological information.

About AM Resources Corp.

AM Resources (TSX Venture Exchange: AMR) is a dynamic junior mining company focused on the exploration and development of high-potential pegmatite deposits. With a strategic portfolio of assets and a commitment to responsible resource development, the company is dedicated to creating long-term value for its stakeholders while adhering to the highest standards of corporate governance and sustainability.

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