AM Announces Debt Settlement and Grant of Options

MONTREAL, March 12, 2021 /CNW/ - AM Resources Corporation ("AM" or the "Corporation") (TSXV: AMR) (Frankfurt: 76A) is pleased to announce that it has settled its previously announced debt settlement in an aggregate amount of $1,138,631 by issuing an aggregate of 18,460,184 Shares to an arm's length creditor.

Grant of Options

The Corporation is also pleased to announce that it has granted a total of 4,050,000 incentive stock options to directors, officers and consultants under the AM's stock option plan (the "Plan").The Options, subject to the terms of the Plan and the corresponding option agreement, are exercisable at a price of CAD $0.06 per share for a period of up to five years expiring on March 12, 2026.

ABOUT AM RESOURCES CORP.

AM Resources Corp. is a mining exploration Corporation 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.

Forward Looking Statements

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date.

AM does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

SOURCE AM Resources Corp.