American Future Fuel Corporation announced that it has commenced Phase 1 of its three-phase confirmation drill program at its 100% owned Cebolleta Uranium Project ("Cebolleta" or the "Project") located in the Grants Uranium Mineral Belt, 35 miles (56km) west of Albuquerque, New Mexico. Cebolleta is an advanced uranium exploration project with a historical uranium Inferred Mineral Resource of 5.6M tons (5.1M tonnes) at an average grade of 0.17% eU3O8 containing 18.98M lbs (8,600 tonnes) U3O8 according to a 2014 NI 43-101 Technical Report commissioned by previous owner, Uranium Resources Inc.1 The reliability of the historical estimate is considered reasonable, but a qualified person has not done sufficient work to classify the historical estimate as a current Mineral Resource and the Company is not treating the historical estimate as a current mineral Resource. The confirmation drill program will focus on Area I of the Project twinning several generations of historical drill holes that identified seven shallow mineralized horizons across the Company's Ceboletta Project.

The program will be the Company's first step towards preparing a current resource estimate, and upon conclusion of the initial phase of the drill program the Company will endeavour to complete two additional phases in Area III and selected infill drilling that will allow for an updated NI43-101 compliant resource to be issued. With the first phase of drilling underway, the Company anticipates releasing results from the first confirmation hole in the coming days. Concurrently, the Company has already commenced permitting plans for phases 2 and 3 of drilling.

Cebolleta are an advanced uranium exploration project located in Cibola County, New Mexico. The Project is approximately 35 miles (56 km) west of Albuquerque and lies within the prolific Grants Uranium Mineral Belt, one of the largest concentrations of sandstone-hosted uranium deposits in the world. The Grants Uranium Mineral Belt has historically produced 347M lbs U3O8, or ~37% of all Uranium produced in the United States.

American Future Fuel has a 100% lease-hold interest in Cebolleta (6,700 acres mineral rights, 5,700 acres surface rights), which is comprised of multiple known uranium deposits and several previously operating uranium mines. Past efforts revealed several significant sandstone-hosted uranium deposit ranging from 200 to 800 feet (60-240m) deep in the Jurassic Jackpile Sandstone. These deposits were amenable to both surface and underground mining, which culminated from 1975-1981 when over 3.8M lbs U3O8 was produced from the JJ#1 and St.

Anthony Mines3. The vast majority of known uranium mineralization still exists at Cebolleta - namely from the Sohio Area (mineralization in Areas I-V) and the St. Anthony Area (mineralization surrounding the St.

Anthony Pit North, St. Anthony Pit South and Willie P Mines). The Sohio Area of the Project is host to a historical uranium Inferred Mineral Resources of 5.6M tons ("5.1M tonnes") at an average grade of 0.,17% eU3O 8 containing 18.98M lbs ("8,600 tonnes) U 3O8 according to a 2014 Technical report commissioned by previous owner, Urania Resources Inc.4 The reliability of the historical estimate are considered reasonable, but a qualified people has not done sufficient work to classification the historical estimate as a current Resource and the Company is not treat the historical estimate as a currenteral Resource.

The St. Anthony deposits, in and surrounding the St. Anthony open pits, have not been modeled, as the large amount of historical data for St.

Anthony has not yet been synthesized into a useable database for resource estimation. American Future Fuel Corporation is a useable database for resource estimate. American Future Fuel Corporation is an advanced uranium exploration project.