CHICAGO, October 13, 2005 (MARKETWIRE) – (Other OTC: AMRS.PK) American Stellar Energy, Inc. is pleased to report it has received proceeds from its first load of Gold / Silver concentrate delivered on August 1st, 2005, in the amount of U.S.$38,000.00 and expects payment for the second and third loads of concentrate, previously delivered, over the next few weeks. Furthermore, American Stellar Energy's Mexican subsidiary Amermin, has negotiated a new sales contract with the smelter in Torreon, which will result in a much shorter payment timeframe for all future sales of concentrate.
We are also pleased to have received the Technical NI43-101 Report completed on all three of our Gold / Silver projects, which include La Currita, San Miguel Groupings, and La Millionaria by Jon H. Lehmann an Independent Licensed Professional Geologist. Access to this report can be found at http://www.americanstellarenergy.com/projects.php
The projects contain over 1,200 hectares and are located in an area has numerous mines and recent substantial discoveries. About 20 miles to the SE is the 170,000 ounce/year El Sauzal mine, Glamis Gold's (NYSE:GLG) newest and largest gold mine. Gammon Lake Resource's (AMEX:GRS) Ocampo Gold-Silver Project is approx. 40 miles to the North projecting annual production of 270,000 ounces gold-equivalent ounces. Palmarejo (TSXV:PJO) is developing the nearby Palmarejo mine and has acquired ground surrounding San Miguel. Palmarejo has announced an inferred resource of 3.1 million ounce gold equivalent on their property.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.
CONTACT: American Stellar Energy, Inc. Website: http://www.americanstellarenergy.com IR / Clayton Smith: (503) 618-0370 / 888-601-9983 Francis R. Biscan Jr.: 630-462-2079 Email: Richard@americanstellarenergy.com
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