American Sands Energy Corp. Commences Drilling Program at Utah Oil Sands Site
SALT LAKE CITY, Nov. 22, 2013 (GLOBE NEWSWIRE) -- American Sands Energy Corp. (OTCBB:AMSE) ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, announced today that it has commenced its drilling program at its Sunnyside, Utah oil sands site to define parameters for its mine. This onsite drilling is expected to be completed by early next week, with core analysis finished in early December. This is the final site-specific step required in order for the Company to complete the preparation and filing of a state mining permit application for its Sunnyside project in Utah.
William Gibbs, Chairman and CEO, stated, "We are using the first proceeds from our private placement to take these key steps toward a fully-permitted 5,000-barrel-per-day plant utilizing an industry-first water-free extraction process. Once the application for the permit is filed, we will begin implementing the next phase of our corporate finance strategy, which may include a combination of new capital, project financing, and corporate strategic partnerships."
About American Sands Energy Corp.
American Sands Energy Corp. is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
Forward Looking Statements
This release contains forward-looking statements regarding AMSE's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, the ability to place the project into full production; the ability to secure all necessary mining permits in a timely manner, fluctuations in energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. American Sands Energy Corp. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact
Phil Allen 303.898.0625