American Sands Energy Corp. Engages FLSmidth to Provide Preliminary
Engineering on Its Sunnyside Project
SALT LAKE CITY, June 26, 2014 (GLOBE NEWSWIRE) -- 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 FLSmidth
USA, Inc. has been engaged to provide a feasibility study, including a Class
IV estimate of capital and operating costs, on AMSE's proposed 5,000 barrel
per day ("bbl/d") facility to be located at its site near Sunnyside, Utah.
This feasibility study will update the Company's capital and operating cost
estimates from the previous feasibility study done by AMEC BDR in 2009.
"We are excited to be working with FLSmidth," stated Robin Gereluk, AMSE's
Chief Operating Officer. "FLSmidth has outstanding qualifications and in-house
expertise to help us develop our facilities plan in a timely, cost-effective
"Engaging FLSmidth is an important step as AMSE executes on its plans to
develop a 5,000 bbl/d operating oil extraction facility," said William C.
Gibbs, AMSE's Chairman and CEO. "While American Sands moves through the
permitting process, obtaining this update of engineering and cost estimates is
critical as we approach our anticipated post-permitting capital raise."
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
About FLSmidth USA Inc.
FLSmidth is a leading supplier of equipment and services to the global cement
and minerals industries. FLSmidth supplies everything from single machinery to
complete cement plants and minerals processing facilities including services
before, during and after the construction. For more information, visit
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
CONTACT: Daniel Carlson, CFO (801) 277-7888
American Sands Energy Corp. logo
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