Mr. David Suda reports

AMERICAN FUTURE FUEL ANNOUNCES BROKERED PRIVATE PLACEMENT FOR UP TO C$3.0 MILLION

American Future Fuel Corp. has entered into an agreement with Red Cloud Securities Inc. to act as sole agent and book runner in connection with a best efforts private placement for gross proceeds of up to $3-million from the sale of up to 11,111,111 units of the company at a price of 27 cents per unit. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share of the company at a price of 42 cents at any time on or before that date which is 36 months after the closing date of the offering.

The agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the offering, to sell up to an additional 1,666,666 units for additional gross proceeds of up to $450,000.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions (NI 45-106), the units will be offered for sale to purchasers resident in Canada pursuant to the listed issuer financing exemption (LIFE) under Part 5A of NI 45-106. The unit shares and warrant shares are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

The company intends to use the net proceeds from the offering for the advancement of the company's Cebolleta uranium project, as well as for working capital and general corporate purposes. The offering is scheduled to close on or around Dec. 28, 2023, and is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

There is an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website at. Prospective investors should read this offering document before making an investment decision.

About American Future Fuel Corp.

American Future Fuel is a Canadian-based resource company focused on the strategic acquisition, exploration and development of alternative energy projects. The company holds a 100-per-cent interest in the Cebolleta uranium project, located in Cibola county, New Mexico, United States, and situated within the Grants mineral belt, a prolific mineral belt responsible for approximately 37 per cent of all uranium produced in the United States.

We seek Safe Harbor.