Announcement • Jun 22
American Critical Minerals Corp. Mobilizes Field Crew to Green River Project to Commence Drill Pad Construction
American Critical Minerals Corp. has commenced mobilization of a field crew to the Green River Project to complete drill pad construction. The Company has engaged Harrison Field Services Inc., for pad construction and SWPPP monitoring. Harrison has been responsible for drill pad construction and reclamation of various drill pads for Anson Resources Limited’s adjacent Green River Lithium Project. The Company anticipates commencement of drilling operations during July or August 2026. The initial drill location at the Green River Project will be at the Duma Point AP-S-02 well which is within Utah State issued Permit 51690 (School and Institutional Trust Lands Administration, known as “SITLA” or “Trust Lands Administration”). This drill hole is a high priority target selected adjacent to historic oil and gas well Quintana Fed 1-1 which is: The location of the highest historical grades within the Green River Project where logs measured eK2O=24.3% potassium chloride based on elog (eKCl)) over 5.9 metres; Within a flat lying portion of the regional anti-form; Selected as a high-priority drill target as part of the Company’s newly issued National Instrument 43-101 Technical Report. The Company has engaged RESPEC Company, LLC to execute the 2026 Drill Programs. American Critical Minerals has in place all the necessary regulatory requirements including the Notice of Intent (“NOI”), Storm Water Pollution Prevention Plan (“SWPPP”) and Bonding approval. The Trust Lands Administration requires an additional USD 65,000 security bond prior to the commencement of drilling which is in progress. As well, the Right-of-Way Encroachment Permit for county road access has been filed with the Granite County Road Department. The Green River Project is situated within Utah’s highly productive Paradox Basin, located 20 miles northwest of Moab, Utah. It has significant logistical advantages including close proximity to major rail hubs, airport, roads, water, towns, and labour markets. It also benefits from close proximity to the agricultural and industrial heartland of America and numerous potential end-users for its products. The history of oil and gas production across the Paradox Basin provides geologic data from historic wells across the Project, and the wider Basin, validating and de-risking the potential for high grade potash and large amounts of contained lithium. Wells in and around the project reported lithium up to 500 ppm, bromine up to 6,100 ppm and boron up to 1,260 ppm (Gilbride & Santos, 2012). This data is reinforced by nearby potash production and the advanced stage of neighbouring lithium projects. The Paradox Basin is believed to be one of the biggest sources of lithium brines in the United States. The Company has disclosed targets for further exploration at the Green River Project consisting of 500 million to 950 million tonnes of sylvinite (the most important source for the production of potash in North America) grading from 12% to 18% potassium oxide based on elog (eK2O=19% to 29% potassium chloride based on elog (eKCl)). Its target for further exploration for Lithium and Bromine is 0.6-1.7 Mt lithium carbonate equivalent grading from 91-152 ppm; and 3.3-9.1 Mt bromine grading from 2,647-4,412 ppm. The Company holds a 100% interest in eleven SITLA mineral and minerals salt leases covering approximately 7,050 acres, 1,094 federal lithium brine claims (BLM Placer Claims) covering 21,150 acres, and 11 federal (BLM) potash prospecting permits covering approximately 25,480 acres. Through these leases, permits and claims the Company has the ability to explore for potash, lithium, and potential by-products across the entire Green River Project (approx. 32,530 acres). The Company is authorized to drill a total of 7 drill holes across the Green River Project. Intrepid Potash Inc. is America’s largest potash company and only U.S. domestic potash producer and currently produces potash from its nearby Moab Solution Mine, which the Company believes provides strong evidence of stratigraphic continuity within this part of the Paradox Basin. Anson Resources Ltd. has advanced lithium development projects contiguous to the northern boundary of our Green River Project and neighbouring to the south. Anson has a large initial resource, robust definitive feasibility study and has recently completed successful piloting operations through its partnership with Koch Technology Solutions, as well as an offtake agreement with LG Energy Solution. The Anson exploration targets encompass the combined Mississippian Leadville Formation and the Pennsylvanian Paradox Formation brine-bearing clastic layers, which also underlie American Critical Minerals’ entire project area. In 2022, the U.S. imported approx. 96.5% of its annual potash requirements with domestic producers receiving a higher sales price due to proximity to market. In March 2024, the US Senate introduced a bill to include key fertilizers and potash on the US Department of Interior list of Critical Minerals which already includes lithium, and this process is well advanced with potash being added to the USGS Draft Critical Minerals List. In August 2025. Recent market estimates suggest that the global potash market is over USD 50,000 million annually and growing at a compound annual growth rate (“CAGR”) of close to 5%. Annual lithium demand is now estimated to be over 1 million tonnes globally and continuing to grow rapidly.
