SOURCE: American Energy Production Inc.

November 19, 2009 08:30 ET

American Energy Production Inc. Announces Wholly Owned Subsidiary Oil America Group Inc. Doubles Gold Claim Acreage

MINERAL WELLS, TX--(Marketwire - November 19, 2009) - American Energy Production Inc. ("AENP") (OTCBB: AENP) announced today that it's wholly owned subsidiary Oil America Group Inc. ("OAG") has signed a letter of intent to acquire an additional 200 acres of Placer Gold Claims in Trinity County, California. 140 acres is contiguous with the previously announced 200 acres currently operated by OAG in a joint venture with Dorado Gold LLC. The remaining 60 acres is located close to Helena, California where the Trinity River runs through the property. This is very prolific Gold mining country that shows tremendous commercial promise.

Joe Christopher, President of OAG and Gold Project manager, said, "We are very excited with the opportunity of acquiring more Placer Gold Claims in the same vicinity as the Dorado Gold processing operations. With access to water and our existing equipment we can transition into producing this adjoining Gold Claim faster and more efficiently and keep the entire area environmentally friendly."

Charles Bitters, President of AENP, stated, "We are adding more Gold Claim acreage in the Trinity area because of two fundamental reasons, number one is competition from other potential mining operations that might enter the area and two, there is significant potential for finding additional large deposits of Gold along the Canyon Creek proven area. Gold is currently making new record highs almost every day (currently over $1100/troy oz.). With the economy in such disarray, an expert economist projects that in two years there could be double digit inflation and the Gold price could rise to $1,500.00 to $2,000.00/oz. AENP will now have a very profitable hedge against the declining dollar and the increasing demand for Gold. The country of India purchased $6.5 billion dollars worth of IMF Gold this past week and we believe many countries will be purchasing Gold to reduce their dollar holdings over the next few months. Gold will become the 'new currency.' These purchases, coupled with increasing private demand, could make Gold and Gold related investments a very exciting investment over the next few years."

Gold has been mined in Trinity County, Calif. since the 1880s. A tremendous amount of Gold has been mined in the county, along with related noble metals such as silver and platinum. The largest platinum nugget ever found in the US was found in Trinity County in 1920. In 1917, 25,000 ounces of Gold was produced in Trinity County. This amount of Gold produced at today's prices would represent approximately $27,000,000.00.

Mr. Christopher's Gold team has almost completed a magnetic grid map on the Dorado 40 Gold claim. This map will show potential "hot spots" or areas where there are black sand deposits. Where you find black sand you often find commercial quantities of Placer Gold. This should allow much more efficient recovery of the Gold, reducing the amount of earth moving. This type of Gold recovery operation is one that does not require the use of any chemicals and is a totally green operation and thus is environmentally friendly.

Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" and are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations expressed or implied by such forward-looking statements.

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