American Critical Minerals Engages RESPEC to Execute Its 2026 Drill Program at Green River Project

Executive Summary and Operational Update

• American Critical Minerals has engaged RESPEC Company LLC to manage and execute its 2026 drilling program at the Green River Project in Utah.
• Mobilization and site preparation are targeted for Q3 2026, with each drill hole expected to take approximately 45 days to complete.
• The program aims to validate historical drill data and test key potash horizons as well as clastic zones for lithium and bromine through coring and brine sampling.

Permitting and Regulatory Status

• Three drill holes are fully permitted and bonded within State of Utah (SITLA) mineral leases.
• Four additional drill holes are authorized under approved BLM potash exploration licenses, though initial program plans focus on up to two holes initially.
• The project footprint covers approximately 32,530 acres across state and federal interests.

Technical Targets and Historical Data

• Exploration targets remain conceptual: Potash (500M–950M tonnes), Lithium (0.6–1.7 Mt LCE), Bromine (3.3–9.1 Mt).
• Historic wells in the area have intercepted thick potash zones, including intercepts of 3.4 m @ 26.4% eKCl and 5.9 m @ 24.3% eKCl.

Management Commentary

• CEO Dean Pekeski highlighted that engaging RESPEC adds significant strength to the company's ability to execute its inaugural drill program.
• The move validates historic data and broader potential for the project as a multi-mineral asset (Potash, Lithium, Bromine).

News Rating Justification

• Routine - Positive: This news confirms execution of the previously announced drilling program but does not introduce new financial results or resource estimates. It is expected given the financing closed in November 2025 ($7.45M) earmarked for this purpose.
• Timeline Shift Risk: Previous communications (Dec 2025) targeted Q1 2026 mobilization; the April 2026 update pushes this to Q3 2026. This delay suggests permitting or logistical hurdles but does not indicate project abandonment.
• Market Context: The stock has declined from its October 2025 peak ($0.46) to current levels ($0.22), suggesting the market has already priced in some execution risk and timeline delays.

Impact on Valuation

• No immediate impact on valuation as no assay results are available yet.
• The engagement of a reputable contractor (RESPEC) reduces operational execution risk, which is positive for long-term confidence but not an immediate catalyst for price appreciation without data.
• Dilution risk remains from the November 2025 offering warrants ($0.45 strike), though currently out-of-the-money relative to $0.22 share price.

Project Details

• Green River Project: Located in the Paradox Basin, Utah.
• Minerals: Potash, Lithium, Bromine.
• Land Position: 100% interest in ~32,530 acres (State leases, Federal claims, Federal permits).
• Development Stage: Exploration/Pre-feasibility; no NI 43-101 Mineral Resource Estimate currently exists.

Technical Report Status

• Amended and Restated NI 43-101 Technical Report filed in February 2026 by Agapito Associates.
• Targets are conceptual based on historic well data and analogues; further exploration required to define resources.