SALT LAKE CITY, Oct. 1, 2014 /PRNewswire via COMTEX/ — American Sands Energy Corp. (OTCBB: AMSE, “AMSE” or the “Company”), an oil sands exploration and development company operating in Utah, is pleased to announce that it has extended all its leases through December, 2019.
“By extending our leases, AMSE will retain control of our Sunnyside project for the foreseeable future,” commented William Gibbs, Company CEO. “This extension allows us to work through the permitting process without threat to our resources. While the primary term of our leases is extended for five years, it is also important to note that once we are in production the leases are “held by production” and will last for the life of the project.”
American Sands is currently in the permitting process for its Sunnyside project. The Company hopes to have approval from the Department of Oil, Gas & Mining in the near future and expects to be in production approximately 18 months from approval.
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 private 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.