Knoxville, Tennessee--(Newsfile Corp. - March 20, 2026) - Clinch Resources Ltd. ("Clinch" or the "Company"), a metallurgical coal ("met coal") producer with mining assets in West Virginia, today announced that effective today, the common shares of the Company will commence trading on the Toronto Stock Exchange (TSX) under the ticker symbol "CLCH" (the "Listing").
The Listing follows the closing of Clinch's reverse takeover (RTO) and concurrent US$46.0 million financing and 38.8 percent indirect acquisition of JJ Resources Inc., owner of the fully permitted 24,000-acre Sewell Mountain mid-vol met coal mine in West Virginia.
Clinch intends to use the net proceeds of the financing to develop its large met coal project, ARI, which has an estimated measured and indicated mineral resource of approximately 111 million tons of met coal located over 54,000 acres with an extensive drill history and verified geological continuity (approximately 64 million tons of measured resources and 47 million tons of indicated resources. For further breakdown, refer to Appendix A). The Company also plans to use the financing's net proceeds for general and administrative expenses and working capital.
Management Commentary
"We are excited to complete the RTO and concurrent offering and to become a public entity by listing our shares on the TSX," said Clinch CEO, Jon Nix. "Met coal, which is essential for steelmaking and is in tight supply due to permitting constraints, has recently seen pricing support strengthen due to strong global demand.
"These factors, as well as the addition, in November 2025, of met coal to the U.S. Department of Interior's Critical Mineral List, will contribute, we believe, to a stronger global market demand for met coal."
The U.S. Department of Interior's Critical Mineral List comprises about 60 minerals considered crucial for the economic well-being of the global economy -- and whose supply may be at risk due to geological, economic, or geopolitical circumstances. "It is exciting to be the newest met coal producer in the U.S. at a time where the commodity has gone from targeted to protected," said Clinch EVP of Capital Development and Investor Relations Robert Gaylor.
Technical Information
Please see the technical report in respect of the ARI project entitled "Pre-Feasibility Technical Report on the Coal Resource and Coal Reserve Controlled by Active Resources Inc., West Virginia USA - Prepared in Accordance with National Instrument 43-101 for Disclosure for Mineral Projects" dated December 15, 2025 with an effective date of June 30, 2025 for further details, which is available for review under the Company's SEDAR+ profile at www.sedarplus.ca.
The scientific and technical information contained in the Technical Report, some of which is included herein, has been reviewed and approved by Mr. Justin S. Douthat, P.E., M.B.A., Mr. Michael G. McClure, C.P.G., Mr. Timothy J. Myers, P.E., John W. Eckman, C.P.G., David J. McChesney, P.E., and Chad M. Sechrist, PHD, P.E., M.B.A. of Marshall Miller & Associates, Inc. Each of Mr. Douthat, Mr. McClure, Mr. Myers, Mr. Eckman, Mr. McChesney and Mr. Sechrist is a "qualified person" and "independent" of the Company with the meanings ascribed to those terms under NI 43-101.
About Clinch Resources Ltd.
Clinch Resources, Ltd. is a Tennessee-based metallurgical mining company with its corporate office located in Knoxville, Tennessee and operations in West Virginia. The Company will supply high quality coking coal to steel-based manufacturing facilities both domestically for critical global infrastructure. Clinch is currently opening its first two mines.
Cautionary Statements Regarding Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements (collectively referred to hereinafter as, "forward-looking information") are not representative of historical facts or information or current conditions, but instead represent only the beliefs of the management of the Company regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the control of the Company. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but are not limited to, information concerning the trading of the Common Shares on the TSX, the mineral resource estimates, expectations with regards to the development of the business of the Company and the use of proceeds from the concurrent financing.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: (i) changes in general economic, business and political conditions, including changes in the financial markets; (ii) changes in applicable laws; (iii) difficulty or inability in complying with extensive government regulation; and (iv) those other risk factors more generally set out in the annual information form available under the Company's profile on SEDAR+ at www.sedarplus.ca. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although management of the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release is made as of the date of this news release, and the Company does not undertake to update any forward-looking information contained or referenced herein, except as required by applicable securities laws.
For further information, please contact:
Clinch Resources Ltd.
Robert Gaylor
Executive Vice President
bgaylor@clinchresources.com
865-310-2353
www.clinchresources.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
Office: (646) 893-5835
Email: info@skylineccg.com
Appendix A
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Source: Clinch Resources Ltd.
