VANCOUVER, British Columbia, Sept. 25, 2023 (GLOBE NEWSWIRE) -- American Future Fuel Corporation (CSE: AMPS; OTCQB: AFFCF; FWB: K14, WKN: A3DQFB) (the “Company” or “American Future Fuel”), is pleased to announce the appointment of Mr. Michael Henrichsen as a new member of the Board of Directors, effective September 25, 2023. Mr. Henrichsen’s extensive expertise as a structural geologist and his remarkable track record in enhancing reserves and resources make him a valuable addition to the Company’s leadership team.
Mr. Henrichsen brings a wealth of experience from his tenure in the mining industry, where he played a pivotal role in shaping the landscape at companies such as Newmont Corporation (with a market capitalization of approximately $43 billion (CAD)) and others:
Newmont Corp 2008 - 2011: Mr. Henrichsen led the technical program in Ghana, West Africa, where he oversaw a team of geoscientists and technical initiatives that led to multiple discoveries within the Ahafo district. His leadership was instrumental in unearthing a significant amount of gold, representing a blend of newfound discoveries and substantial resource extensions.
Newmont Corp 2011 - 2013: As the Global Structural Geologist, Mr. Henrichsen embarked on a mission to find high-grade ore in the proximity of mining operations, notably at Yanacocha, Peru (South America’s largest gold mine1), and Long Canyon, Nevada. His collaborative efforts with local teams yielded remarkable results, uncovering new ore bodies in both districts.
Auryn Resources: 2015 – 2020: Mr. Henrichsen served as the Technical Lead, spearheading the assembly of a project portfolio spanning Canada and Peru. His technical efforts culminated in a significant $35 million investment from Goldcorp to advance the portfolio's development. Notably, in July 2016, Mr. Henrichsen played a key role in recommending the purchase of the Homestake Ridge Project in the Golden Triangle for $12 million in cash and shares. Subsequently, in December 2021, the project was sold to Dolly Varden Silver for approximately $55 million at the time of sale.
Torq Resources: 2020 – present: Mr. Henrichsen, in his role as Chief Geological Officer at Torq Resources, was instrumental in partnering with a prominent Chilean geological team and building a high-quality exploration portfolio in northern Chile. Based on the strength of the team and portfolio assembled Goldfields invested $15M into the Torq with a focus on the flagship Santa Cecilia project that is surrounded by the Norte Abierto JV held jointly be Barrick Gold and Newmont Corp and at the Margarita iron oxide – copper – gold project a significant new Greenfields discovery has been made.
“We are delighted to welcome Mr. Henrichsen to our Board of Directors. His exceptional expertise as a structural geologist and his history of success in enhancing reserves and resources will be instrumental in guiding our strategic decisions and driving the Company’s growth,” stated David Suda, CEO of American Future Fuel.
With Mr. Henrichsen’s appointment, American Future Fuel is confident in its ability to maximize its potential and achieve success in the industry. The Company looks forward to leveraging Mr. Henrichsen’s insights and guidance as it moves forward with its strategic objectives.
In a related development, the Company also announces the resignation of Mr. Patrick Morris from his position as a director of the American Future Fuel. The Company extends its sincere appreciation to Mr. Morris for his valuable contributions and dedicated service during his tenure.
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 Cebolleta 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.
On behalf of the Board of Directors,
AMERICAN FUTURE FUEL CORPORATION
David Suda, Chief Executive Officer
For further information, contact:
David Suda at info@americanfuturefuel.com
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.
