Allied Energy Corporation Signs MOU to Develop Option Agreement on Silver Reef Gold Property in California

DALLAS, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Allied Energy Corporation (OTC: AGYP) (the “Company”), a diversified energy and resource development company, today announced it has entered into a Memorandum of Understanding (MOU) with Puma Gold LLC regarding the potential acquisition of an interest in the Silver Reef Gold Property, located in San Bernardino County, California.

The MOU outlines the framework for a proposed Option Agreement, which the parties intend to finalize within the coming weeks. If completed, the definitive Option Agreement would grant Allied the right to earn a controlling interest in the Silver Reef Property through a three-phase earn-in program, including staged cash payments, share issuances, and multi-million-dollar work commitments.

“While this is not yet a definitive option agreement, the signing of this MOU is a significant step for Allied,” said George Monteith, President of Allied Energy Corporation. “It reflects our strategy to expand into high-potential gold exploration at a time when U.S. gold production is regaining momentum and prices remain historically strong.”

California Gold Mining Opportunity

California remains one of the most iconic gold jurisdictions in the United States, with a mining history dating back to the mid-1800s Gold Rush. Today, rising gold prices and supportive state and federal permitting environments are encouraging renewed exploration.

Recent exploration activity across California and neighboring Nevada shows a revival in the Western U.S. gold belt, where companies such as Rise Gold Corp., Kore Mining, and Northern Vertex Mining are developing historic and underexplored properties. These projects demonstrate how dormant assets can be transformed into high-value, NI 43-101 compliant reserves using modern geologic techniques.

U.S. Gold Industry Tailwinds

• The U.S. produced 170 metric tons of gold in 2023, with Nevada and California as key contributors (U.S. Geological Survey).
• The U.S. gold mining sector generated over $11 billion in value last year, with domestic production increasingly seen as vital for supply chain security.
• With gold trading consistently above $2,633.00 per ounce in 2025, the commodity continues to serve as a hedge against inflation and global economic uncertainty.
  

Against this backdrop, exploration-stage companies with strong assets in stable U.S. jurisdictions are capturing heightened investor interest.

The Silver Reef Property Path Forward

The MOU serves as a non-binding framework and will terminate unless replaced by a definitive Option Agreement. Allied and Puma Gold are working toward finalizing the binding agreement, which is expected to include:

• Validation of historical drilling results on the Silver Reef Property.
• Development of a NI 43-101 compliant resource estimate.
• A path toward feasibility studies and potential production permitting.
  

Why Allied, Why Now:

With many competitors focusing on Nevada’s Carlin and Cortez trends, California remains underexplored relative to its potential. Projects like Silver Reef, sitting on historic data yet largely overlooked in the modern era, represent low-cost entry points with scalable upside.

For Allied, this move provides:

• Portfolio diversification beyond oil & gas into precious metals.
• Exposure to the surging U.S. gold market, backed by strong macroeconomic fundamentals.
• A staged, de-risked earn-in structure that balances capital allocation with technical milestones.
  

About AGYP:

Allied Energy Corp. is an energy development and production company acquiring oil & gas reserves in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the business of reworking & re-completing 'existing' oil & gas wells located in the thousands of mature oil & gas producing fields across the United States. The Company applies its knowledge, experience, and effective well-remediation technologies to achieve higher production volumes, longer well life, and more efficient recovery of the proven and available oil and gas reserves in the fields/projects in which it has acquired an ownership interest. The Company will utilize updated technologies such as hydraulic fracturing ("fracking"), drilling of lateral ("horizontal") legs in productive zones, and utilizing new cased hole electric logging to locate bypassed pays, all to enhance daily rates and oil & gas recoveries. By acquiring interests in a growing number of selected projects in various regions, Allied Energy Corp. is diversifying its exposure and effectively minimizing risk as it pursues corporate growth, top line & bottom-line revenues to the benefit of all stakeholders. There are proven, recoverable reserves contained in the many aging oil & gas fields that have been bypassed by companies moving away from these fields in search of deeper, more plentiful, but more costly reserves. The Company plans to concentrate on bypassed oil and gas as there is less competition and, as mentioned above, the costs are considerably less. Additionally, the company will acquire interests in marginal wells that can be acquired at minimal cost, of which there are 420,000 wells in the U.S. Quoting Barry Russell, President of the Independent Petroleum Association of America ("IPAA") - "With approximately 20 percent of American oil production and 10 percent of American natural gas production coming from marginal wells, they are America's true strategic petroleum reserve.”

In addition to oil & gas, Allied is strategically diversifying into precious metals, providing shareholders exposure to multiple high-value resource sectors.

For more information about Allied Energy Corporation, visit: www.alliedengycorp.com.

Safe Harbor Statement:

This press release may contain certain forward-looking statements that are within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements.

Contact:

Allied Energy Corporation
Phone: 972-632-2393
Email: info@alliedengycorp.com 
X: https://x.com/AlliedEnergyCo1 

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