SOURCE: AmeriResource Technologies, Inc.

October 18, 2007 05:20 ET

AMRE Update: BizAuctions Announces Several New Contracts

LAS VEGAS, NV--(Marketwire - October 18, 2007) - AmeriResource Technologies, Inc. (OTCBB: AMRE) announced that its subsidiary, BizAuctions, Inc. (PINKSHEETS: BZCN), a prime provider of commercial eBay liquidation services for excess inventories, has landed and is working on several new contracts involving liquidation services for various commercial clients.

"As shown in BizAuctions' steady and strong revenue increases, our business continues to grow in providing our eBay liquidation services," noted Delmar Janovec, CEO.

"BizAuctions is doing solid business and providing valuable services to its clients. It is clear that American companies are in need of liquidation services, and we are aggressively targeting that market," Janovec concluded.

Although BizAuctions is not profitable at this time, its revenues have increased substantially over the last several quarters, as follows. BizAuctions will be reporting record revenues for the third quarter, and while those figures have not yet been released, they will be included in the third quarter financial statements scheduled for release on approximately November 14, 2007.

  Quarter Ended         Revenue
------------------  -----------------
    9/30/06            $192,097
   12/31/06            $223,123
    3/31/07            $326,906
    6/30/07            $438,764
    9/30/07         TBD -- New Record

BizAuctions' clients have included some of the Nation's leading retail names at the forefront of their industries. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate excess inventory on eBay.

At $60 billion, BizAuctions is targeting an enormous market while helping companies solve one of their greatest problems. BizAuctions employs two primary business models, whereby it liquidates inventory through eBay on consignment for a lucrative commission; and/or it purchases inventory at a fraction of retail price for the purpose of liquidating it for a profit. We consign, we buy, and we liquidate through eBay!

BizAuctions' operations are designed for maximum capacity to handle most any eBay liquidation project. Whether the client is a Fortune 500 company with 1,000 items or a small business with 100 items, BizAuctions can take on most any project and recover funds from clients' excess inventory.

More information is available at www.BizAuctions.com. Investors and media can receive a free investor kit for BizAuctions, Inc. by contacting Investor Relations at investors@BizAuctions.com or (800) 961-3275. A virtual tour of BizAuctions' facilities and flash video presentation can be viewed at http://www.bizauctions.com/tour.shtml.

ABOUT BIZAUCTIONS -- ADDRESSING THE $60 BILLION PROBLEM

BizAuctions, Inc. (PINKSHEETS: BZCN) is a prime provider of commercial eBay liquidation services for excess inventory, overstock items, and returns. Our clients have included some of the Nation's leading retail names at the forefront of their industries.

BizAuctions addresses the $60 billion excess inventory problem for clients by sending trucks to pick up pallets of excess inventory, selling the inventory on eBay, and collecting payment.

We provide our clients with a new sales channel to generate additional revenue on excess inventory, while at the same time freeing up their valuable storage and retail space.

With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate its excess inventory on eBay.

The Company encourages the public to read the above information in conjunction with BizAuctions' year-end statement for December 31, 2006, and the second Quarter statement ended June 30, 2007. BizAuctions' financial statements can be viewed at www.PinkSheets.com.

The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission, at www.sec.gov. The Company will provide you with copies of this information upon request.

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