American Energy Fields, Inc. Enters MOU With American Nuclear Resources LLC for Purchase of Colorado Plateau Mining Properties

American Energy Fields, Inc

American Energy Fields, Inc. Enters MOU With American Nuclear Resources LLC for Purchase of Colorado Plateau Mining Properties

Everett Resources Ltd. is pleased to announce the start of the initial 2011 diamond drilling program at its Menarik polymetallic property, located in the James Bay area of the province of Quebec. A minimum of 2,000 meters will be drilled in this program, to test multiple targets, as the property hosts stratiform chromite horizons and magmatic massive sulphides in Menarik ultramafic intrusion, nickel-copper concentrations in the altered zones, gold targets and mineralized felsic volcanic on the edges. All the core samples will be prepared and submitted to ALS-Chemex in Val-d'Or, Quebec for analysis.

American Energy Fields, Inc. is pleased to announce it has finalized a memorandum of understanding to acquire from American Nuclear Resources LLC a significant portfolio of properties Feldspar crusher on the Colorado Plateau in southern Utah and southwestern Colorado.

The portfolio includes past producing properties in the Uravan Mineral Belt, located within 50 miles of Dennison Mines Corp.'s operating White Mesa mill, and within 16 miles of Energy Fuels Inc.'s proposed and newly permitted Pinon Ridge Mill. The Uravan Mineral Belt has produced over 100 million pounds of U3O8 to date. In addition to past production, Yellowcake Mining conducted a drilling program on the Uravan properties in 2008.

The portfolio also includes properties in the past producing Marysvale District, the Henry Mountains District, White Canyon, and the Cottonwood Wash area.

The total portfolio consists of Copper crusher more than 8,000 acres of unpatented lode mining claims on Bureau of Land Management ("BLM") land and a Utah State Minerals Lease consisting of over 1,500 acres. As some of the properties have produced uranium in the past, the infrastructure is in place to commence near-term production, contingent on fulfilling permitting requirements.

Company President and CEO, Joshua Bleak, stated, "We are excited to acquire this portfolio of past-producing uranium properties. The Excavator crusher entire Colorado Plateau region has a significant history of uranium production. As past producers, we hope to bring these properties into near-term production, capitalizing on the vicinity to operating and proposed uranium mills."

Quality Assurance/Quality Control

The exploration program and the technical information presented in this press release have been reviewed and approved by Yvan Bussieres, P. Eng. Mr. Bussieres is a qualified person as defined by National Instrument 43-101. The Menarik exploration program is conducted under the supervision of Mr. Bussieres. Everett has implemented and adheres to a strict Quality Assurance/Quality Control program. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses will be performed by accredited laboratory ALS-Chemex in Val-d'Or, Quebec.

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