American Critical Minerals Provides Update on Process and Timelines to Launch Confirmation Drill Program Planned for its Green River Potash & Lithium Project

Executive Summary

• Closed a Bought‑Deal Offering and concurrent non‑brokered offering, raising approximately $7.45 M, providing capital to complete bonding and launch the initial drill program.
• Appointed Dean Pekeski as Senior Advisor, adding in‑house technical expertise for drilling and development of the Green River Potash & Lithium Project.
• Targeting Q1 2026 for mobilization and execution of a Phase 1 drill program (2–3 holes) to validate historic data and enable maiden resource estimates and pre‑feasibility studies for potash, lithium and bromine.

Key Details

• Financing: Aggregate gross proceeds of ~$7,451,000 from a Bought Deal Offering (including full exercise of underwriter’s option) plus a concurrent non‑brokered offering.
• Capital Use: Funds allocated to pay final bonding requirements, site preparation, drill contractor selection, equipment procurement, and execution of the initial drill program.
• Technical Team: Dean Pekeski appointed; existing technical and advisory team retained; NI 43‑101 Technical Report prepared by Agapito Associates guides target selection.
• Drill Permits & Bonding:
• 3 fully permitted and bonded drill holes on State of Utah (SITLA) leases.
• 4 additional drill holes authorized under BLM Potash Exploration Licenses, pending bonding (US government shutdown now resolved).
• Drill Program Scope:
• Initial 2–3 core holes to validate historic oil‑and‑gas well data and test key potash horizons plus clastic zones for lithium and bromine in the Paradox & Leadville Formations.
• Aim to generate data for Maiden Resource Estimates (MREs) and Pre‑Feasibility Studies (PFS) or Preliminary Economic Assessments (PEA).
• Timeline: Site preparation and drilling mobilization planned for Q1 2026.
• Contractor Selection: Ongoing evaluation of drill contractors to ensure optimal execution across the 32,530‑acre land package.
• Marketing Expansion: Amended engagement with Machai Capital Inc.; additional $500,000 budget allocated for digital marketing and investor awareness over a 12‑month term (ending Sept 18 2026). No securities issued as consideration.
• Project Scale & Potential (per NI 43‑101 Technical Report):
• Potash exploration target: 500–950 Mt of sylvinite, grading 12%–18% K₂O.
• Lithium brine target: 2.1 billion m³, 71.6–216.3 ppm Li.
• Bromine brine target: 2.1 billion m³, 3,656–4,741 ppm Br.

Notable Quotes

“With our recent financing closed and Dean Pekeski now on board as Senior Advisor, we are driving forward with our Phase 1 Drill Program… This will enable Maiden Resource Estimates and Pre‑Feasibility Studies / Preliminary Economic Assessments for Potash, Lithium and Bromine.” – Simon Clarke, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the Company’s most recent MD&A.