MEMORANDUM OF UNDERSTANDINGMemorandum of Understanding • February 23rd, 2011 • American Energy Fields, Inc. • Metal mining • Colorado
AEFI is a publically traded corporation holding interests in several mineral properties in the US. ANR is engaged in the acquisition, exploration and development of uranium resource properties on the Colorado Plateau and currently holds ownership and leasehold interests in those unpatented mining claims and state mineral leases described on Exhibit A to this MOU (the “Mining Properties”). AEFI desires to acquire, and ANR desires to transfer to AEFI, all of ANR’s ownership and leasehold interests in and to the Mining Properties on the terms and conditions set forth herein.
