Outstanding Results Phase 1 Drilling Program At Cebolleta

VANCOUVER - American Future Fuel Corporation announced the completion of its Phase 1 drilling program at the Cebolleta Uranium Project located in the Grants Uranium Mineral Belt. The purpose of the Phase 1 drill program has been to validate historical drill results to prepare a mineral resource estimate.

The Phase I drill program consisted of 26 drill holes averaging 336 feet (112 meters) deep for a total of 9,530 feet (2,904 meters). Radiometric equivalent U308 grade (% e U3O8) values closely match historical data from nearby holes from over 50 years ago. The outstanding results presented are a testament to the quality of the Cebolleta deposit and Sohio’s previous work that is the foundation of the 18.98M lbs U3O8 historical resource that the Company is confident will be brought current as part of the next two phases of drilling. The reliability of the historical estimate is considered reasonable, but a qualified person has not done sufficient work to classify the historical estimate as a current Mineral Resource and the Company is not treating the historical estimate as a current Mineral Resource. The purpose of the confirmation drilling is to accomplish this task.

David Suda, CEO, said, “The outstanding drill results from Phase 1 speak for themselves. American Future Fuel has taken a significant step toward delivering an updated resource in a very time and cost-efficient manner. We believe that the Cebolleta project represents a Tier 1 deposit within the United States. The Company is seizing on a rare opportunity to create significant shareholder value while limiting risk. We are also excited by the potential for meaningful growth at the St. Anthony portion of the project where there is a major opportunity to expand the resources inside of our property boundaries.”