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AmeriResource to Acquire Interest in Royal Casino Holdings

4 September 2002

LAS VEGAS, Nevada – (Press Release) -- AmeriResource Technologies, Inc., (OTC Bulletin Board: ARES) announced today September 4, 2002, it has entered into a Definitive Agreement with Royal Casino Holdings Corporation to acquire a 60% interest in its wholly owned subsidiary Royal Casino Entertainment Corporation and Royal Casino Cruises LLC. AmeriResource was also granted an option to acquire an additional twenty percent (20%) of RCE. Royal Casino Holding Corporation is majority owned by Dharmesh Patel & Family who are actively involved in the Entertainment, Restaurant and Hotel Industries.

Mr. Janovec further states: "We are very pleased to have the opportunity to acquire a 60% interest with an option to acquire an additional 20% in RCE, Hollywood, Florida in a stock for stock like exchange from Dharmesh Patel & Family. The Gaming Day Cruise Vessel, Royal Casino I, operates from the Ambassador Resort & Corporate Center, which is located at 4000 Ocean View Drive in Hollywood, Florida on the Intercostals Waterway. The Royal Casino I, operates two cruises daily, which departs at 11:00 a.m. and 7:00 p.m., and sails to International Waters (approx. 3 miles from shore) allowing Royal Casino I to operate as a Las Vegas style Casino with slot machines, black jack, roulette, craps and baccarat tables. A buffet is provided with live entertainment on the second and third decks of the Royal Casino I. The Royal Casino I has the capacity to hold approximately 365 passengers plus a full crew of approximately 40 personnel.

"The Definitive Agreement calls for a stock like exchange whereby AmeriResource would acquire 60% of Royal Casino Holdings, Inc. and Royal Casino Holdings Corporation would acquire 60% of the issued and outstanding of AmeriResource. The stock issued to Royal Casino Holdings Corporation & Dharmesh Patel would be restricted R- 144 stock. Mr. Janovec would retain the titles of Chairman & CEO and Mr. Patel would become the President and Treasurer of AmeriResource.

``Mr. Patel will be spearheading the day-to-day operations of the Gaming Operation as well as the expansion for a second location, and future expansion into the entertainment and hospitality industries. We anticipate the final closing to occur within the next 30 days, upon final due diligence being completed satisfactory to both parties. We look forward to working with Dharmesh Patel, his family and the outstanding staff of the Royal Casino Entertainment Corporation."

Mr. Patel further states: "I am very excited that we have entered into the Definitive Agreement with Mr. Janovec and AmeriResource Technologies, Inc. I look forward to working with Mr. Janovec and becoming part of the public company to allow AmeriResource to capture this unique opportunity to enter into the Gaming Industry in the Florida Day Cruise, casino business. This is an exciting industry with a tremendous opportunity for growth and potential expansion into the entertainment and hospitality areas that will enhance the Gaming business. I believe that Mr. Janovec and I will make a very good team, which will allow AmeriResource the opportunity to bring about a new awareness and value in its stock that will benefit the long-term shareholders of the Company. I am excited about this opportunity."

Mirador Consulting is a full-service corporate consulting firm based in Boca Raton, Florida. Mirador specializes in micro-cap and middle market NASDAQ-listed companies, providing nationwide representation to members of the investment community.

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