AM Resources announces Revocation of Cease Trade Order, Reinstatement of Trading on the TSX Venture Exchange and Provides Updates

MONTREAL, March 23, 2023 /CNW/ - AM Resources Corporation ("AM" or the "Corporation") (TSXV: AMR) (Frankfurt: 76A) is pleased to announce the full revocation of the cease trade order (the "CTO") by the Autorité des marchés financiers (the "AMF") and the reinstatement of its common shares for trading on the TSX Venture Exchange (the "TSXV").

As previously announced on August 3, 2022, the AMF issued the CTO against the Corporation as a result of the Corporation's inability to file its Financial Documents (as defined below) within the time frame prescribed by National Instrument 51-102. Subsequently, on August 4, 2022, the TSXV suspended trading of the Corporation's common shares.

The Corporation is pleased to report that the CTO was fully revoked on March 15, 2023 upon the AMF having completed a review of the Corporation's continuous disclosure in compliance with Policy Statement 11-207. Further to the revocation of the CTO, AM obtained the reinstatement of trading in its common shares through the facilities of the TSXV effective March 22, 2023 (for more information, see the TSXV's Bulletin).

The following documents have been filed on December 19, 2022 and are available for review under AM's SEDAR profile at www.sedar.com:

• audited consolidated annual financial statements for the year ended December 31, 2021, corresponding management's discussion and analysis* ("MD&A") and certifications;
• interim financial statements for the period ended March 31, 2022, corresponding MD&A and certifications;
• interim financial statements for the period ended June 30, 2022, corresponding MD&A and certifications; and
• interim financial statements for the period ended September 30, 2022, corresponding MD&A* and certifications (collectively, the "Financial Documents").

AM wishes to inform the reader that the NI 43-101 Technical Report on the Mina Luz Property Cauca Department Colombia filed on SEDAR on November 24, 2017 is no longer up-to-date and should not be relied upon. The Mina Luz property has been written off from the Corporation's books in 2021 and is no longer material to the Corporation.

Further to its press releases dated April 29, 2022 and May 27, 2022, the Corporation advises that the previously mentioned third tranche to its private placement of units have not completed and therefore terminated.

AM Resources Corp. (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.

SOURCE AM Resources Corp.