CHICAGO, Aug. 8, 2005 (PRIMEZONE) -- American Stellar Energy (Pink Sheets:AMRS), through it's 97 percent owned Mexican subsidiary Amermin, has signed an option agreement to acquire a 100 percent interest in the San Miguel Groupings, located near Temoris, Chihuahua, Mexico. The San Miguel Groupings include several concessions and approximately 12 past producing mines, including the high-grade, former-producing San Luis mine.
The San Miguel Groupings concessions are known as Santa Clara, Las Tres S.S.S., San Luis, El Carmen, Swanick, Sangre De Cristo, Las Tres B.B.B., Guadalupe De Los Reyes, San Juan, El Rosario, San Miguel (Head of group) and Empalme. The property lies in the Temoris mining district, part of the prolific gold-silver belt of the Sierra Madre Occidental, just a few kilometers northwest of the town of Temoris. The project covers approximately 800 acres with an estimated six kilometers of strike in the historic gold/silver mining district.
Mr. Francis Biscan Jr., President of American Stellar Energy stated, "We have tied up an amazing set of concessions with not only high-grade, large-tonnage potential, but also with existing mines. These mines could allow for near term exploitation of moderate to high grade gold/silver ore for our La Currita Mill, which is only three kilometers away."
American Stellar Energy continues to review other significant opportunities in the energy sector, including Oil, Gas, Coal, and Uranium. It also continues to evaluate Gold and Silver properties that would compliment its existing properties outside of Temoris, Chihuahua, Mexico.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.