AM Resources Provides Update to Management Cease Trade Order

MONTREAL, June 24, 2022 (GLOBE NEWSWIRE) -- AM Resources Corporation ("AM" or the "Corporation") (TSXV: AMR) (Frankfurt: 76A) is providing an update to its previously disclosed management cease trade order ("MCTO"), initially announced on April 29, 2022, in respect of the audited annual financial statements and corresponding management's discussion and analysis for the year ended December 31, 2021, including the CEO and CFO certifications, as well as the interim financial statements and corresponding management's discussion and analysis for the period ended March 31, 2022, including the CEO and CFO certifications (collectively, the "Financial Documents") that were not filed by their respective filing deadlines of April 30, 2022 and May 30, 2022 (the "Filing Deadlines").

As previously disclosed, the Financial Documents were not filed on or before the Filing Deadlines due to the delay in the completion of the audit of the Corporation's financial statements before the Filing Deadlines. The Corporation is working closely with the auditor to finalize the audit and expects to file the Financial Documents no later than July 2, 2022. The Corporation will provide updates as further information relating to the Financial Documents becomes available.

The MCTO will be in effect until the Financial Documents are filed.

Until the Financial Documents are filed, the Corporation intends to issue bi-weekly default status reports in accordance with National Policy 12-203 ? Management Cease Trade Orders. The Corporation intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Corporation confirms that there is no other material information relating to its affairs that has not been generally disclosed.

About AM Resources
AM Resources Corporation (TSXV: AMR) is a mining exploration company with interests in coal and natural bitumen projects in Colombia. AM is betting on Colombia's excellent mineral potential and favourable climate to pursue its Colombian venture.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

David Grondin
AM Resources Corporation
President and Chief Executive Officer
1-514-360-0576
www.am-resources.com