American Future Fuel’s Role in U.S. Energy Security Heightened as Concerns Over Russian Uranium Supply Escalate

Vancouver, British Columbia, Canada – August 28, 2023 – American Future Fuel Corporation (CSE: AMPS; OTCQB: AFFCF; FWB: K14, WKN: A3DQFB) (the “Company” or “American Future Fuel”), reaffirms its resolute commitment in playing its part in bolstering the U.S. uranium supply chain, a commitment that takes on great significance amidst mounting concerns about the reliability of Russian uranium imports.

With Russia supplying roughly half of global enriched uranium, and close to 20% of US supply, concerns have deepened, especially given recent geopolitical events. The security implications of relying on foreign sources for nuclear fuel are evident, and American Future Fuel recognizes the vital role it, along with other domestic uranium companies, must play in advancing national energy security. Reducing dependence on Russian uranium has become a global priority for governments and industry leaders, and American Future Fuel believes it could align within this blueprint through the development of the Cebolleta Project.

American Future Fuel possesses a 100% lease-hold interest in the Cebolleta Uranium Project, an advanced uranium exploration initiative boasting an historical uranium Inferred Mineral Resource of 5.6 million tons (5.1 million tonnes) at an average grade of 0.17% eU3O8, containing 18.98 million lbs (8,600 tonnes) U3O8, as detailed in a 2014 NI 43-101 Technical Report commissioned by the Project’s former owner, Uranium Resources, Inc.

While the historical estimate’s reliability is considered reasonable, it has not been updated by a qualified person to classify it as a current Mineral Resource, and the Company does not treat it as such.

Covering 6,700 acres of mineral rights and 5,700 acres of surface rights, within the Grants Uranium Mineral Belt, an area renowned for producing approximately 347 million pounds of U3O8[1], Cebolleta encompasses several known uranium deposits as well as previously operational uranium mines. This project’s location could have the potential to position Cebolleta as a pivotal asset for the Company and a beacon of hope in the quick pursuit to secure domestic uranium sources for the US.

The nuclear power industry stands on the brink of its most significant expansion in decades, driven by unprecedented demand for uranium. Spot uranium prices have surged over 20% year-to-date, nearing levels last seen before the Fukushima disaster in 2011. This surge reflects escalating concerns about climate change, attracting investors to the uranium market. As an emerging uranium developer, American Future Fuel, with its Cebolleta Uranium Project, is poised to capitalize on the resurgence of nuclear power, aligning with the growing global interest in clean, dependable energy sources.

In the United States, the nuclear power sector is experiencing a renaissance, with new units coming into operation after a three-decade hiatus. Emerging technologies like small modular reactors are gaining traction, fostering global interest in nuclear power. The sector remains resilient and poised for expansion.

American Future Fuel remains steadfast in its commitment to be a vital player in this thriving industry. Leveraging its expertise and resources, the company aims to meet the surging demand for uranium and contribute to a cleaner, more sustainable energy future.

American Future Fuel – Marketing Disclosure.

The Company also announce that it has engaged Stride Report Inc. (“Stride”), an arm’s length party to the Company, to provide digital marketing & investor awareness services. The Company has a total budget of CAD $50,000, plus applicable taxes, for the next four months and has advanced the payment in full.  The services will include investor relations, creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns.  Consideration offered to Stride does not include any securities of the Company.  Aside from this engagement, the Company does not have any relationship with Stride and Mr. Raafat Nasser, CEO of Stride. Stride’s business address is located 1120 – 625 Howe Street, Vancouver, BC V6C 2T6, email is raafat@stride.report, telephone number is 604-710-7318 and website is https://stride.report/.

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 and other 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.

[1] Uranium resources in the Grants uranium district, New Mexico: An update Virginia T. McLemore, Brad Hill, Niranjan Khalsa, and Susan A. Lucas Kamat 2013

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