AM Resources announces Cease Trade Order

MONTREAL, Aug. 03, 2022 (GLOBE NEWSWIRE) -- AM Resources Corporation ("AM" or the "Corporation") (TSXV: AMR) (Frankfurt: 76A) announces that it has received a cease trader order ("CTO") from l'Autorité des marchés financiers ("AMF") as a result of the Corporation's inability to file its 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"), by their respective filing deadlines of April 30, 2022 and May 30, 2022 (the "Filing Deadlines"). The order will remain in effect until the Corporation files its Financial Documents.

"This situation is due to several factors that are beyond our control. We are working with our auditors to resolve it as soon as possible and we anticipate that we'll be able to file the Financial Documents no later than August 19, 2022. Once resolved, we will focus on taking the necessary actions to ensure that this does not happen again," said David Grondin, President and CEO of AM Resources.

The Corporation will provide updates as further information relating to the Financial Documents becomes available.

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