American Future Fuel : Applauds Japan’s Renewed Energy Policy

Vancouver, BC, Canada - October 17, 2022 - American Future Fuel Corporation (CSE: AMPS, Frankfurt: K14, WKN: A3DQFB, OTCQB: AFFCF) (the "Company", or "American Future Fuel") applauds Japan's renewed energy policy, and its initiative that would see the restart of seven nuclear reactors across the country by the summer of 2023.

In a major reversal in the country's energy policy last month, the Japanese government is set to restart nuclear power plants that have remained idle since the 2011 Fukushima disaster and is also interested in expanding investments in next-generation plants.

Following the government's announcement, Japanese broadcaster NHK commissioned a survey that suggests that half of Japan's population supports the initiative to expand nuclear power, with 48% of the respondents supporting Japanese Prime Minister Fumio Kishida's plan of developing next-generation nuclear reactors as a reliable, clean energy power source in the country.

The survey came two weeks after Prime Minister Kishida announced plans to examine the construction of new plants that would reverse more than a decade's energy policy following the Fukushima disaster, and efforts to eliminate nuclear in the country.

The restart of seven nuclear reactors across the country by the summer of 2023 would bring the total number of operating power units in Japan to 17.

The impetus for the new initiative is driven by the great possibility that Japan could face electricity supply problems due to soaring prices of natural gas and other energy products.

The Company also wishes to announce that it has engaged Promethean Marketing, Inc. ("Promethean"), and its President, William Kaitz, both arm's length parties to the Company, to perform certain corporate marketing and investor awareness services for the Company commencing on October 20, 2022.

Pursuant to an agreement entered into with Promethean (the "Agreement"), Promethean intends to work with the Company to provide advertising, corporate marketing and investor awareness services, including, but not limited to, content creation management, author sourcing, project management and media distribution (collectively, the "Services"). In consideration for providing the Services, the Company has agreed to pay to Promethean USD$200,000 (the "Initial Media Deposit") towards a digital marketing budget for a period of three months (the "Term") or the exhaustion of the Initial Media Deposit. Payments to Promethean will occur at the end of each month after the applicable Services are rendered, and the amount paid each month will be based on the Services that are rendered in such month. After the expiry of the Term, the Agreement will continue on a month-to-month basis thereafter unless terminated by either party. The Agreement may be terminated at the discretion of either party at any time upon thirty (30) days' written notice.

Consideration offered to Promethean does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with Promethean and William Kaitz. Promethean's business address is located at 138 Main Street, Annapolis, MD 21401, USA, email is @hereisyourfire.com, telephone number is 410-263-1500 and website is https://www.hereisyourfire.com/.

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 Ceboletta 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. American Future Fuel's Ceboletta Uranium project is an advanced exploration project.

On behalf of the Board of Directors,

AMERICAN FUTURE FUEL CORPORATION

Luke Montaine, Chief Executive Officer

For further information, contact:

Luke Montaine at [e-mail]

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 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.