PHOENIX, April 20, 2010 (GLOBE NEWSWIRE) -- American Energy Fields, Inc. (OTCBB:AEFI) the "Company", is pleased to announce it has appointed Randall Reneau as "Chairman of the Board."
With a rich history in mining, mineral exploration, and managing public companies, Randall Reneau brings to American Energy Fields the leadership and blended experiences needed for a young resource company to grow. Mr. 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 currently resides as the Chairman of the Board of Strategic American Oil Corporation (SGCA), a publicly listed oil and gas exploration and production company based out of Corpus Christi, Texas. He served Strategic American Oil as President and CEO from 2007 to 2009. Mr. Reneau also served as Chief Exploration Officer and a director of Uranium Energy Corp., a uranium exploration company publicly traded on the American Stock Exchange, from January 2005 to July 2007. 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.
Mr. Reneau will provide leadership and guidance in all areas of company development including asset acquisition and development while strengthening the Company's profile in the resource and public sectors. His experience and understanding of the uranium sector and the public markets is unique and will be of incredible benefit to the development of AEFI.
President Joshua Bleak said of the appointment, "Having someone of Mr. Reneau's pedigree join the American Energy Fields team is a major development for our company. Being able to recruit him speaks highly of the team already in place and of our strategic vision moving forward. We are focused on building a world class alternative energy development company and Mr. Reneau brings us one step closer to that realm."
"This is a great opportunity for me to get back into the alternative energy field," said Mr. Reneau. "After being offered the position, I reviewed the framework of the Company and felt it was a perfect fit between my passion for resource development and the company's growth model of finding, acquiring, and developing projects located in the Southwest U.S. I look at the Coso project, the work completed by Rocky Mountain Energy, the potential for near term production, and the possibility of expanding the historical findings, and I know we have the building blocks to create a uranium producing mine. I look forward to being a part of that process. I am very pleased to be joining this skilled team and working towards building a significant company."
About American Energy Fields, Inc.
American Energy Fields (AEFI) is a resource company focused on exploring and developing the alternative 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.
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.