American Clean Resources Group Receives Letter of Intent for Up to $40 Million in Joint Development Capital to Advance Millers Solar Energy Zone Acquisition

About this update from American Clean Resources Group Inc.

Commitment from Elko Heat Company, a Nevada geothermal utility operating since 1982, builds on the June 2026 Joint Exploration and Development Agreement covering the Millers Property in Esmeralda County, Nevada LAKEWOOD, Colo., July 06, 2026 (GLOBE NEWSWIRE) -- American Clean Resources Group, Inc. (OTC: ACRG), a domestic critical minerals and precious metals processing company, today announced that it has received a Letter of Intent from Elko Heat Company ("EHC"), acting in its corporate investing capacity, under which EHC has confirmed its commitment to use commercially reasonable good-faith efforts to arrange and provide up to $40 million in joint development capital. The capital is intended to support ACRG's pursuit of a Bureau of Land Management (BLM) Solar Energy Zone competitive lease and associated solar development activities under the active Plan of Development at the Company's Millers Property in Esmeralda County, Nevada (the "SEZ Acquisition"). The commitment is made in connection with the Joint Exploration and Development Agreement dated June 9, 2026 between ACRG and TRG Holdings, LLC covering the Millers Property (the "Millers JEDA"), and, at the parties' election, in connection with a project-level special purpose vehicle formed under Section 7 of that agreement. EHC is a Nevada geothermal utility that has operated in Elko, Nevada since 1982, when it was established through a U.S. Department of Energy grant, and provides continuous geothermal district heating service in the Elko community. Its geothermal well produces approximately 400 gallons per minute and the company holds substantial associated water rights. More than four decades of sustained, uninterrupted geothermal operation give EHC a long-duration operating record of the kind that capital providers and industrial counterparties value. For EHC, the SEZ Acquisition reflects a broader strategic interest in clean energy generation. ACRG intends to power its critical mineral processing hubs with clean, reliable energy, and EHC develops and operates energy generation, with deep expertise in geothermal. The Millers Solar Energy Zone represents an immediate opportunity to develop generation capacity co-located with ACRG's operations, and EHC sees potential to support ACRG's energy needs across additional processing sites over time. The Millers JEDA and related development activities contem...

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