VANCOUVER, British Columbia, July 29, 2022 (GLOBE NEWSWIRE) — American Future Fuel Corporation (CSE: AMPS; Frankfurt: K14, WKN: A3DQFB) (the “Company” or “American Future Fuel”) is pleased to report that over the past several months we have been putting plans in place to execute on our exploration program at Cebolleta. The Company anticipates conducting future drilling across the Project with a focus on direct confirmation drilling to confirm the historical resource with the strategy to produce a compliant 43-101 resource. Additional drilling is also contemplated within the historical drill pattern as infill drilling; with the intention to add confidence in the continuity of the Project’s mineralization.
“Lengthy conference calls and discussions with EnCore Energy and knowledgeable geologists with years of experience on Cebolleta, give me confidence in our project,” states Luke Montaine, CEO of the Company. “Years of data extending back to the 1950s is being compiled into one data room for ease of understanding. Our project has past production, in a well known uranium jurisdiction, and a historical resource calculation we are eager to make current. It has come to our attention that areas have still yet to be explored, which could imply more pounds in the ground if drilling proves successful.”
The Company looks forward to the coming drill season and will update shareholders on our progress.
ABOUT AMERICAN FUTURE FUEL
American Future Fuel Corporation is a Canadian-based resource company focused on the strategic acquisition, exploration and development of alternative energy projects. The Company holds a 100% interest in the Ceboletta Uranium Project, located in Cibola County, New Mexico, USA, and situated within the Grants Mineral Belt, a prolific mineral belt responsible for approximately 37% of all Uranium produced in the United States of America. Future Fuel’s Ceboletta Uranium project is an advanced exploration project with an historical resource estimate of approximately 19,000,000 lbs of uranium.
On behalf of the Board of Directors,
AMERICAN FUTURE FUEL CORPORATION
Luke Montaine, Chief Executive Officer
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This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive regulatory approvals. There can be no assurance that such 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.