AMERICAN METAL ACHIEVES LANDMARK MILESTONE AS U.S. GOVERNMENT CERTIFIES TWO DEEP-SEA CRITICAL MINERAL EXPLORATION APPLICATIONS

A Significant Step Forward in the Company's Mission to Help Secure America's Critical Minerals Future

HOUSTON, Oct. 20, 2026 /PRNewswire/ -- American Metal Inc. ("American Metal" or the "Company") today announced that the National Oceanic and Atmospheric Administration ("NOAA") has certified two deep-sea mineral exploration license applications submitted by American Metal's wholly owned subsidiaries, American Metal Resources LLC and SeaX Inc.

The applications cover approximately 100,000 square miles in the Clarion-Clipperton Zone ("CCZ") of the Pacific Ocean, a region recognized as hosting the world's largest known concentration of high-grade polymetallic nodules rich in nickel, copper, cobalt and manganese.

American Metal's vision combines offshore resource development with U.S.-based processing infrastructure using the Company's proprietary, patent-pending processing technology.

David Ruddell, a former Vice President of BHP and now Chief Executive Officer of American Metal, commented:
"NOAA's certification of both applications represents a significant achievement for our Company and is a testament to the deep-sea mineral exploration and metallurgical processing expertise of our team and technical partners.

"I joined American Metal to bring my experience in developing and executing large-scale resource projects to this world-class opportunity. Given the scale of production envisaged from our proposed processing plant, we believe American Metal has the potential to become a major new supplier of critical minerals to the United States."

The decision follows an extensive regulatory process undertaken by American Metal since early 2025. The next stage is to advance the environmental review process under the U.S. Deep Seabed Hard Mineral Resources Act, including preparation of an Environmental Impact Statement ('EIS') pursuant to the National Environmental Policy Act.

Robert Heydon, Founder of American Metal, commented:
"The United States has a transformational opportunity to develop a new source of critical minerals that could strengthen its industrial base, enhance national security and reduce dependence on foreign-controlled supply chains.

"American Metal was founded to help realize this opportunity by responsibly developing one of the world's largest untapped sources of critical minerals, found in the form of polymetallic nodules resting on the deep ocean floor off the coast of North America. Today's announcement represents an important milestone in bringing that vision to life and advancing our ambition to establish a new American industry."

About American Metal Inc.
American Metal Inc. is a U.S. critical minerals development company focused on establishing a secure, vertically integrated American supply chain for nickel, copper, cobalt and manganese. American Metal's strategy integrates the development of offshore mineral resources with U.S.-based processing technology, with the objective of establishing a significant new source of critical minerals to support American defense, advanced manufacturing, industrial and energy markets. The Company is committed to responsible resource development and strengthening America's critical minerals supply chain independence.

Forward-Looking Statements
This press release contains forward-looking statements concerning American Metal's proposed exploration activities, regulatory approvals, processing facilities, production plans and future business development. These statements are subject to risks and uncertainties, including regulatory approvals, financing, technical development and market conditions. Actual results may differ materially from those expressed or implied. The Company undertakes no obligation to update these statements except as required by applicable law.

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SOURCE American Metal Inc.