American Critical Minerals signs drilling contract with Drake Well Service at Green River
VANCOUVER, BC / ACCESS Newswire / August 12, 2026 / American Critical Minerals Corp. (" American Critical Minerals " or the " Company ") (CSE:KCLI)(OTCQB:APCOF)(Frankfurt:2P3) is pleased to announce that it has executed a service contract with J.A. Drake Well Service, Inc. ( "Drake" ) to provide drilling services for the Company at its 100% owned Green River Project, located in Utah.
The purpose of the Duma Point AP-S-02 well is to validate historic drill data and test, through coring and brine sampling, the key Paradox Formation potash horizons as well as the clastic brine bearing zones for lithium and bromine in the Paradox and Leadville formations. It is expected to take ~35 days to complete.
The Company has completed drill site preparations in anticipation of drilling. Casing has been purchased, and all other subcontractors have been identified and secured. The Drake drill rig is in the process of mobilization, and drilling operations are expected to commence shortly.
The location is strategically positioned 2,000 ft away from the historic Quintana Fed 1-1* oil and gas well which intercepted thick potash zones within Cycle 5 of the Paradox Formation, which has been mined for over 50 years at the nearby Moab mine*****. Downhole geophysical logs measured eK2O=24.3% potassium chloride based on elog (eKCl)) over 5.9 metres**.
This well is located in the northern portion of the project which sits adjacent to Anson Resources' Green River Lithium Project, a 10,000t LCE per year project which recently received all major permits and is advancing through feasibility.
Historic 2D seismic data shows that the well location is within a flat lying portion of the regional anti-form ( see news release dated October 15, 2025 ), that was selected as a high-priority drill target as part of the Company's NI 43-101 Technical Report ( see news release dated February 5, 2026 )**. Flat lying potash beds within this type of anti-form could be amenable to solution mining. The seismic data also indicates that the brine bearing Leadville Formation and Paradox clastic zones dip north- northeast, with structural lows and localized closures favoring accumulation of lithium and bromine -bearing brines should they be intersected.
Dean Pekeski, CEO & President of the Company stated: " After extensive planning we are now ready to complete our first well at the Green River Project. I look forward to spudding this inaugural well and reaching our core point and brine sample zones. Completion of this first well will be an important step in the evolution of our Company and should provide strong validation of the historic drill data on and surrounding our project" .
The Company has engaged RESPEC Company, LLC (" RESPEC ") to execute the 2026 drill program ( see news release dated April 23, 2026 ). The Company has in place all the necessary regulatory requirements including the Notice of Intent (" NOI "), Storm Water Pollution Prevention Plan (" SWPPP ") and Bonding approval ( see news release dated May 26, 2026 ).
The drilling program includes conventional potash core recovery for assay to determine grade and thickness of potash intersections. Core will also be sampled and analyzed for geo-mechanical properties. All detailed core logging, sampling and preparation will take place at the RESPEC Materials Testing Laboratory in Rapid City, South Dakota. Potash core analysis will occur at the SRC Laboratory in Saskatoon, Sask., an internationally recognized facility for specialized potash ore analysis.
Brine sampling will occur upon completion of well drilling and geophysical logging. The intervals targeted for brine sampling will be based on the collected drilling data, including mudlogging information, core recovery details, and the wireline logging results. Wireline sampling tools and packer and drill stem testing will be utilized to sample the brines and measure formation flow capacities. ACZ Laboratories, Inc. located in Steamboat Springs, Colorado will conduct geochemical analysis of recovered brine samples from the well.
On behalf of the Board of Directors
Dean Pekeski, President & CEO
About American Critical Minerals' Green River Potash and Lithium Project
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. (Source: Anson Fastmarkets Presentation - https://wcsecure.weblink.com.au/pdf/ASN/02823465.pdf ).
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.
America's largest potash company and only U.S. domestic producer 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 ( www.ansonresources.com ).***
The United States imports more than 90% of it's potash demand (U.S. Geological Survey, Mineral Commodity Summaries, January 2025). In November 2025, the Department of Interior added potash to its list of Critical Minerals which already includes lithium. Recent market estimates suggest that the global potash market is over US$50 billion 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.****
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Dean Besserer, P.Geo., the Chief Operations Officer of the Company and a qualified person for the purposes of NI 43-101.
*Historical data disclosed in this news release relating to historical wells from previous operators are historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company's future exploration work may include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of exploration projects. Any historical well data disclosed are selective and may not represent true underlying mineralization. Please refer to the report titled "Amended and Restated NI 43-101 Technical Report, Green River Potash and Lithium Project, Grand County, USA" dated January 27, 2026, and available under the Company's profile at www.sedarplus.ca .
** The potential quantity and grades are conceptual in nature and there has been insufficient exploration to define a mineral resource, and, while reasonable potential may exist, it is uncertain whether further exploration will result in the determination of a mineral resource under NI 43-101. Targets for further exploration for potash, lithium and bromine at the Green River Project are used to provide a conceptual estimate of the potential quantity and grade of a mineral deposit, based on known and additional limited geological evidence. It is an early-stage assessment that will help to guide further exploration, but it is not a mineral resource or mineral reserve and should not be treated as such. The report titled "Amended and Restated NI 43-101 Technical Report, Green River Potash and Lithium Project, Grand County, USA" dated January 27, 2026, and available under the Company's profile at www.sedarplus.ca provides details of the basis on which the targets for further exploration have been determined.
*** American Critical Minerals' management cautions that results or discoveries on properties in proximity to the American Critical Minerals' properties may not necessarily be indicative of the presence of mineralization on the Company's properties.
**** United States Geological Survey, Mineral Commodity Summaries, January 2024 ( https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-potash.pdf ).
***** The Company has no affiliation to Intrepid Potash or the Moab Mine or Anson Resources.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking information or forward-looking statements within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative 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) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: statements with respect to the Company's future plans and potential of its mineral properties; and anticipated drilling at the Green River Project and results therefrom.
Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking statements are based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Forward-looking statements also involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A.
Forward-looking information contained herein are made as of the date of this news release and the Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information: 1100-1199 West Hastings St. Vancouver, BC Canada V6E 3T5 T 604 551 9665 E dpekeski@acmineralscorp.com
SOURCE: American Critical Minerals Corp.
View the original press release on ACCESS Newswire
ACCESS Newswire
August 12, 2026 - 2:30 AM PDT
News by QuoteMedia
www.quotemedia.com