American Power Corp. Begins Drilling at Pace Coal Project, Montana
August 18 2011 - 9:00AM
Marketwired
American Power Corp. (OTCBB: AMPW) ("American Power" or "the
Company") is pleased to announce that drilling operations have
begun on its Pace Coal Project, located in Judith Basin County,
Montana.
Drilling operations for Phase I of the Company's coal
exploration program began at 12:30 MDT on August 16, 2011 on drill
hole PH1-3. A second drilling rig started operations at 15:00 MDT
on August 17, 2011 on drill hole PH1-2.
"This is a very exciting time for the Company. We are delighted
to inform our shareholders that drilling operations have started
this week, amid excellent weather conditions in Central Montana,"
commented Mr. Al Valencia, President and CEO of American Power. "We
are working with an experienced technical team onsite capable of
successfully conducting the planned exploration program over the
following weeks. All steps to maximize our chances of success have
been taken and given the scope of this ambitious program, we have
decided to work with two drilling rigs onsite at all times," added
Mr. Valencia.
Photographs of the drilling operations at the Pace Coal Project
will be uploaded shortly to American Power's website:
www.americanpowerco.com.
Exploration Drilling Program American
Power's planned exploration drilling program consists of 61
drilling sites and will involve a total of 53,875 feet of drilling
in three different phases. The first phase of the program consists
of a total of 13 drilling locations, while the second and third
phases consist of a total of 9 and 39 drilling locations,
respectively. American Power's exploration program will provide
information relative to coal seam thickness, depth of cover,
expected top and bottom conditions and coal quality.
The program's aim is to place a significant portion of the coal
holdings of the Pace Coal Project in the proven and probable
reserve classification, with an ultimate goal of establishing
sufficient resources to support a greater than 20 year operational
mine life.
About American Power Corp. American Power
Corp. is a publicly traded, dynamic energy company based in Denver,
Colorado. The Company was established with the focus of acquiring
near-term, large-scale coal projects in close proximity to national
transportation links. In 2010, American Power agreed to acquire the
Pace Coal Project, which consists of on roughly 29,000 acres in
Judith Basin County, Montana. The estimated resources in place,
based on exploration work conducted by Mobil Oil Co. (now
ExxonMobil Corp.), in several independent studies, range from 172
million up to 410+ million tons of high volatility bituminous B
coal.
American Power is a member of the Montana Mining Association and
its stock trades on the NASD OTC BB under ticker symbol AMPW.
Shareholders are invited to contact investor relations toll free at
(800) 537-1110 for further information or visit the Company's
website at www.americanpowerco.com.
Forward-Looking Statements Statements in
this news release that are not historical facts are forward-looking
statements that are subject to risks and uncertainties.
Forward-looking statements in this news release include that
American Power Corp.'s 29,000-acre leases in Judith Basin County,
Montana, have high volatile bituminous B coal in the range of 172
and 410+ million tons. Readers should also refer to the risk
disclosures outlined in the Company's quarterly reports on Form
10-QSB, annual reports on Form 10-KSB, and the Company's other
disclosure documents filed from time-to-time with the Securities
and Exchange Commission available at www.sec.gov
Cautionary Note to U.S. Investors The
United States Securities and Exchange Commission ("SEC") permits
mining companies, in their filings with the SEC, to disclose only
proved reserves that a company has demonstrated by actual
production or conclusive formation tests to be economically and
legally producible under existing economic and operating
conditions. We use certain terms in this document that SEC's
guidelines may prohibit us from including in filings with the
SEC.
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Investor Relations Information: American Power Corp. Toll
Free: 1-800-537-1110 E-mail: Email Contact