SOURCE: AAA Energy Inc.

November 06, 2007 06:00 ET

AAA Energy Inc. Undertakes Due Diligence on China Moly Prospects

SOMEWHERE, USA--(Marketwire - November 6, 2007) - AAA Energy Inc. (OTCBB: AAAE) is pleased to announce that further to its news releases dated October 10, 2007 and October 16, 2007, the Company, led by its President Dr. Earl Abbott, will undertake a 2-week due diligence trip to field visit the various announced molybdenum prospects located in the Henan Province as well as additional prospects located in the Fujian and neighboring provinces in China.

The molybdenum prospects in Henan Province, described in the aforenoted news releases, are located in the East Qinling molybdenum belt, part of the Qinling-Dabie orogenic belt formed in the early part of the Mesozoic Era by the collision of the Yangtze craton and the North China craton. Climax-type molybdenum deposits are characteristic of the East Qinling molybdenum belt and are named for the giant Climax deposit in Colorado that contained 900 million tonnes grading 0.24% Mo. This type of deposit generally contains only molybdenum and in some cases tin and tungsten with peripheral lead, zinc, and silver. When compared to other molybdenum deposit types, Climax-type deposits contain high fluorine, giving rise to the minerals fluorite and/or topaz, high rubidium and niobium in contrast to low titanium and strontium. Climax-type molybdenum deposits produce about half of the world's molybdenum. Grades in Climax-type molybdenum deposits are usually 5 to 10 times that of molybdenum grades in other types of deposits that produce molybdenum as a primary product or as by-product with copper or other metals. This type of deposit is AAA Energy's target in China.

China is the third-largest producer of molybdenum in the world, a specialty metal used for hardening steel. The white metal is valued for its anti-corrosive and strengthening properties and makes up two percent to ten percent of stainless steel. In 2004, China produced approximately 31,000 tonnes of molybdenum as compared with 30,600 tonnes in 2003. The country's identified reserves of approximately 8.55 Mt ranks second worldwide reserves. Three of the six largest producing molybdenum mines in the world are located in China: Luanchuan in the Henan Province, Daheishan in the Jilin Province (1.1 Mt); and Jinduicheng in the Shaanxi Province (970,000 t).

Further Information

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About AAA Energy Inc.

AAA Energy Inc. is a publicly traded mineral and natural resource exploration company with its head office located in Reno, Nevada. AAA Energy Inc. aims to secure and develop a portfolio of high quality resource properties globally and in under-explored resource horizons. AAA Energy Inc. trades on the NASDAQ OTC BB under the ticker symbol: AAAE.

On behalf of the Board

Dr. Earl Abbott, President

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that AAA Energy Inc. can identify and successfully negotiate leases for natural and mineral resource properties in China and elsewhere, and that the Company can participate in the exploration of these resource properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

Contact Information

  • Contacts:
    AAA Energy Inc.
    Investor Relations:
    1-516-659-6677