American Energy Fields, Inc. Acquires Coso & Blythe Uranium Projects

PHOENIX, April 12 /PRNewswire-FirstCall/ -- American Energy Fields, Inc. (OTC Bulletin Board: AEFI; the "Company") is pleased to announce that it has acquired the 4,180 acre Coso uranium project and the 1,320 acre Blythe uranium project in the mining districts of Inyo and Riverside Counties, California, respectively.

The Coso project, including 169 Federal mining claims and 800 state-owned acres, was previously developed by Western Nuclear, Pioneer Resources, Federal Resources, and Union Pacific Mining/Rocky Mountain Energy.  An estimated U.S. $20,000,000.00 was spent on exploration and development of the project, including an engineered pit design, where exploration records indicate 5.5 million lbs. of uranium was identified with an average grade of 0.07 U3O8.  American Energy Fields, Inc. is currently developing an exploration plan to confirm the historic data with the goal of moving the project towards production.  

The Blythe project consists of 66 Federal mining claims in Riverside County, California covering 3 historic mines, the Safranek, the McCoy Wash, and the Little Ore Hill operated by Humbug Mining and Bokum Corporation.  According to Bokum's records during the years of 1963 to 1964, the Safranek Mine produced and shipped 1,400 tons of uranium ore averaging 0.80% U308 to the VCA mill in Salt Lake City, Utah for processing.  These records also indicate the Safranek site currently contains 100 tons at 0.40% U3O8 and 4,000 tons at 0.30% U3O8 of stockpiled ore, while the McCoy Wash has 3,000 tons of stockpiled ore with a grade of 0.20% U3O8.  Bokum Corporation drilled the property in the early 1970s and the results indicated approximately 153,000 lbs of U3O8 while outlining a further potential for an additional 2,000,000 lbs of U3O8.  American Energy Fields, Inc. aims to identify, expand, and develop the ore body with the goal of putting the past producing mines back into production.  

Company President and CEO, Joshua Bleak, stated, "This acquisition is a major development in the Company's ongoing exploration and development program.  To be able to add two projects with such historic significance to our portfolio initiates vertical growth to our Company and shareholder value.  Our goal at American Energy Fields is to find, acquire, and develop natural energy resources in the United States.  We aim to take advantage of the work done by so many reputable mining companies like Rocky Mountain Energy and Federal Resources to find ore bodies that have been previously identified and developed, thus mitigating our exploration risk and expenses.  Our database of mining projects in the Southwest U.S. is unrivaled and allows us to find projects of this significance at a minimal cost to the Company.  It is rare to find projects of the Coso or Blythe's significance where resources were developed and mined and engineered pit designs were developed by world class engineers.  We look forward to updating you on the progress of these projects as it becomes available."

About American Energy Fields, Inc.

American Energy Fields, Inc. (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, AEFI 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.  

For further information please visit the Company's website at:

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.

SOURCE American Energy Fields, Inc.