PHOENIX, April 9, 2010 (GLOBE NEWSWIRE) -- American Energy Fields, Inc. (OTCBB:AEFI) (the "Company"), a resource company focused on exploring and developing the natural energy resources of the United States, is pleased to announce that the Company's common shares recently commenced trading on the FINRA Over-The-Counter Bulletin Board.
The Company's corporate strength is its management's diverse experience within the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. Using this database, AEFI will target and acquire projects with previous production and/or exploration while maintaining the goal of fully developing those projects to drive revenues and build core reserves. The Company's initial focus will be on uranium with plans for diversification into the renewable energy sector.
The need for energy resources in the United States from national resources is ever growing. Nuclear energy is now a national priority and outlets for developing alternative forms of energy, including nuclear power plants, are being developed at a rapid pace. American Energy Fields will work to provide these energy resources for national use.
President, Joshua Bleak stated, "American Energy Fields is pleased to be entering the public markets in an exciting time for natural alternative energy resources. The United States is working towards becoming 'energy independent' and we are working to help fulfill that goal by finding, acquiring, and developing these natural energy resource deposits. I have brought with me a library of exploration and mining records that we will be able to utilize to identify key projects with the goal of acquiring and developing at a reduced cost and risk with the aid of this data. This is a key competitive advantage in the resource development sector. With the current access to the capital markets we are in a strong position to achieve these goals and experience significant growth."
The Company
The Company has developed significant infrastructure on which to grow, specifically:
Management
President and Director -- Joshua Bleak has 12 years experience in the mining and exploration industry as well as three generations preceding him with extensive experience in the mining and natural resource sectors. He has served as President for Southwest Exploration Inc., an exploration and mining company, and North American Environmental Corp., a consulting company to exploration companies. With Southwest Exploration, Mr. Bleak was responsible for optioning the company's potash holdings to Passport Potash Inc., a publicly-traded company on the TSX Venture Exchange. As a part of North American Environmental Corp., Mr. Bleak recently completed permitting and drilling of the potash project which is located adjacent to a U.S. national park. From February 2007 to September 2008, he served as Senior Landman of NPX Metals, Inc., an exploration and mining company. Through the use of his extensive mining and exploration database, he identified numerous mining prospects and negotiated acquisitions, building a significant property portfolio of over 10 projects with strong gold, silver, copper and uranium signatures and histories. Since January 2005, he has served as Secretary and a director of Pinal Realty Investments Inc., a real estate development company.
Chief Financial Officer -- David P. Lieberman is a Certified Public Account with professional experience dating back to 1970. He is currently a Director and CFO for Datascension, Inc., a publicly traded company whose revenues exceeded $20 million in 2007. From 2006 to 2007, Mr. Lieberman served as Director, COO, and CFO for Dalrada Financial Corporation. He consulted for John Goyak & Associates from December 2002 until June 2003 when he accepted the position as CFO effective July 1, 2003 and resigned September 2006. John Goyak & Associates is a privately held company that provides consulting services to the aerospace industry. Mr. Lieberman graduated from University of Cincinnati with a BBA in 1967.
Director -- Randall Reneau is registered as a Certified Professional Geologist with over 35 years of experience in mineral exploration and project management in the United States, Mexico, Brazil, and West Africa. Mr. Reneau was the Co-Founder and is currently positioned as the Chairman of the Board of Strategic American Oil Corporation (SGCA), an oil and gas exploration and production company based out of Corpus Christi, Texas. Mr. Reneau was also recently the co-founder, Principle Geologist, Chief Exploration Officer and the initial driving force who developed the uranium property portfolio for Uranium Energy Corp. (UEC), an Amex listed company with a market cap in excess of $177 million. He has significant experience exploring for uranium in the United States, specifically in Texas, Arizona, New Mexico and Wyoming, the states known to hold the largest uranium reserves. He extensively explored these states while employed in a senior position for Conoco Uranium, a subsidiary of Conoco Ltd., and Wold Nuclear, a privately-held company. He obtained his M.S. in Environmental Engineering from Kennedy-Western University, Boise, Idaho, and a B.A. in Geology from Central Washington University.
TECHNICAL TEAM
Chief Geologist -- Joe Wilkins is a geologist with over 42 years of experience. Mr. Wilkins most recently worked with NPX Metals, identifying and delineating the North Star Copper project. During the 1990s, he worked with St. Joe Minerals and LAC Minerals where he is credited with discovering the Bull Frog Mine in Beatty Nevada which produced a total of 2.9 million ounces of gold. He conducted mineral exploration programs in the USA, Canada, Chile, Peru, and China. He is also credited with discovering the America Mine, which produced over 400,000 ounces of gold. Mr. Wilkins has a M.S. in Geosciences and a B.S. in Geophysics, Geochemistry, and Geology with Honors from the University of Arizona.
Geologist -- Richard Dorman has a vast array of experience in the mining industry. He has 33 years experience as a geologist, chief chemist, and metallurgist and refinery supervisor. Mr. Dorman worked with Getchell Gold Corporation, a division of Placer Dome Inc. and Universal Uranium, where he developed the Artillery Peak project. Mr. Dorman has a B.S. in Geology from the Mackay School of Mines, University of Nevada-Reno.
Geologist -- Shelby Cave has 9 years experience as a field geologist. Ms. Cave's recent work includes geologic mapping of copper porphyry, gold and uranium properties as well as, coordinating and overseeing drilling programs. Ms. Cave has a M.S. in Geology from Arizona State University and a B.S. in Geology with Honors from the University of North Carolina-Chapel Hill.
Exploration/Mining Database
American Energy Fields has one of the most prolific mining/exploration databases for projects located in the Southwest United States. With this database, the Company aims to acquire projects that have previously been developed. It is the Company's philosophy that the best place to locate minable resources is where natural resources have been previously identified. There are numerous reasons why projects are abandoned including mismanagement, economics, and or title issues. Projects are not always dropped or abandoned because the minerals aren't there. AEFI will seek to find these types of projects through the use of its database and work to acquire and develop them.
Vision
With the international economic crisis over the past two years ending, we have seen the fall and rebound of almost all commodities in the resource sector. Uranium is one of the few commodities which has not seen a rebound in its trading price. With new reactors being commissioned throughout the world, we believe it is just a matter of time until uranium prices rebound. In the mean time, AEFI sees this deflated price as an opportunity to acquire as many quality uranium projects as possible.
With the international markets getting stronger, demand for energy is now once again growing. We are optimistic about the growing demand for natural energy resource and see a bright future for uranium in particular and strongly believe that the United States has a strong future in the development of its own uranium resources to gain "energy independence". We see the Company playing an important part in that development.
Acquisition Targets
The Company has identified several high value targets for acquisition with significant potential for uranium production. We will move to acquire these prospects in the coming months.
Mr. Bleak continues, "These high value uranium targets are the initial focus of our plan of development and growth. We have an incredible opportunity to locate and acquire uranium projects at a deflated cost. The United States has significant natural resource reserves waiting to be brought to the market place, and with our focus and the execution of our business plan, we aim to be at the forefront of that endeavor."
About American Energy Fields, Inc.
American Energy Fields (AEFI) is a resource company focused on exploring and developing the natural energy resources of the United States. American Energy Fields' corporate strength lies in its management's experience in the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEF will target and acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
To learn more, visit: www.americanenergyfields.com
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 contained in this news release and in any document referred to in this news release.