AM Resources Provides Update to Management Cease Trade Order

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MONTREAL, May 16, 2022 /CNW/ - AM Resources Corporation ("AM" or the "Corporation") (TSXV: AMR) (Frankfurt: 76A) is providing an update to its previously disclosed management cease trade order ("MCTO"), 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 (collectively, the "Annual Financial Documents") that were not filed by the required filing deadline of April 30, 2022 (the "Filing Deadline").

As previously disclosed, the Annual Financial Documents were not filed on or before the Filing Deadline due to the delay in the completion of the audit of the Corporation's financial statements before the Filing Deadline. The Corporation is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Documents by May 27, 2022. The Corporation will provide updates as further information relating to the Annual Financial Documents becomes available.

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

Until the Annual 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.

SOURCE AM Resources Corp.

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