AE Fuels Corporation Announces Director Resignation

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AE Fuels (OTCQB: NRGFF; TSXV: AEF) announced that director Brandon Bonifacio has resigned from the board effective immediately.

The company thanked Mr. Bonifacio for supporting strategic corporate development, including introducing the TSXV vehicle used for AE Fuels' listing structure. The resignation is attributed to his increased commitments as CEO of NevGold. AE Fuels said board governance and management remain unchanged and the company continues to execute its strategic objectives.

Announcement dated May 1, 2026. Signed by Gary Lewis, President and CEO.

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Vancouver, British Columbia--(Newsfile Corp. - May 1, 2026) - AE Fuels Corporation (TSXV: AEF) (OTCQB: NRGFF) ("AEF" or the "Company") announces that Brandon Bonifacio has resigned from the board of directors of the Company, effective immediately.

The Board of Directors wishes to thank Mr. Bonifacio for his contributions to AE Fuels during his tenure. In particular, the Company acknowledges his role in supporting strategic corporate development initiatives, including his introduction of the TSX Venture Exchange ("TSXV") vehicle utilized in connection with the listing structure for AE Fuels. The Board extends its appreciation for his efforts in assisting the Company during a formative stage of its capital markets development.

Mr. Bonifacio's resignation is the result of increased professional commitments in his capacity as Chief Executive Officer of NevGold Corp. The Board and management of AE Fuels wish him continued success in his current and future endeavors.

Following this transition, the Company confirms that its board governance and management structure remain unchanged, and AE Fuels continues to execute on its strategic objectives.

On behalf of the board of directors of the Company:

Gary Lewis,
President and CEO

About AE Fuels Corporation

AE Fuels Corporation (TSXV: AEF) (OTCQB: NRGFF) is a US-aligned, critical minerals company focused on battery-grade manganese and fluorspar-hydrofluoric acid (HF) supply chains. The Company's strategy connects allied-country manganese supply (Pilbara, Western Australia) and domestic US fluorspar supply (New Mexico, USA) with US midstream processing and downstream supply chains. Manganese and fluorspar are designated critical minerals in the US, Australia and EU, and essential to multiple high-growth industries including battery materials, semiconductor fabrication and advanced electronics, nuclear fuel processing and clean energy technologies. AEF is advancing development activities aimed at delivering reliable, allied-sourced supply of these materials to reduce foreign dependency and strengthen US industrial base resilience across these key industries.

For further information please contact:
Gary Lewis, CEO and Director
Phone: (+61 422 880 055) Email: gl@aefuels.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295543

FAQ

Why did Brandon Bonifacio resign from AE Fuels (NRGFF) on May 1, 2026?

He resigned due to increased professional commitments as CEO of NevGold, effective immediately. According to the company, the resignation reflects his expanded role at NevGold and not any change to AE Fuels' governance or strategic plans.

Does Brandon Bonifacio's resignation change AE Fuels' board governance or management for NRGFF?

No, the company confirmed board governance and management structure remain unchanged after his resignation. According to the company, leadership continuity is intact while the board acknowledges his past contributions to listing and development efforts.

What contributions did Brandon Bonifacio make to AE Fuels (NRGFF)?

He supported strategic corporate development, including introducing the TSXV vehicle used in AE Fuels' listing structure. According to the company, his work assisted the firm during a formative stage of its capital markets development.

Who signed AE Fuels' May 1, 2026 director resignation announcement for NRGFF?

The announcement was signed by Gary Lewis, President and CEO of AE Fuels. According to the company, the statement thanks Mr. Bonifacio and confirms that company execution of strategic objectives continues unchanged.