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NAEG Granted License to Build Affordable, Safe, Energy-Efficient Homes on All Federally Recognized U.S. Indian Reservations
Business Wire - October 10, 2006 10:14

FOREST HILLS, N.Y., Oct 10, 2006 (BUSINESS WIRE) -- Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink Sheets: NVMG), a company that specializes in locating and revitalizing shut-in production and/or abandoned oil fields on and off tribal lands, is pleased to announce that on October 4, 2006, the Company signed a Joint Venture Profit Share Agreement with homebuilder, Eurowest Panel Homes Ltd., a corporation organized and existing under the laws of the Province of Alberta ("Eurowest"), in which Native American Energy Group (NAEG), as Master Licensee, was granted an exclusive, non-transferable right to use the Patents, Trade-marks and the Systems Knowledge in connection with the Licensee's manufacture, sale and distribution of CSPS, and related products, as well as the use of the Patents, Trade-marks and Systems Knowledge, within the Territory (the "License"). Said Territory includes all 562 Native American Indian Tribes and all Native American reservations in the Unites States recognized by the United States Department of Interior - Bureau of Indian Affairs, as well as and including, the non-tribal lands in the following states in the Northwest Region of the United States of America: Montana, Wyoming, North Dakota, South Dakota, Idaho, Oregon, Washington.

NAEG's CEO, Joseph D'Arrigo, stated, "We've been helping the native Montana community of Fort Peck, where our Company is established, to use their energy resources as the foundation for building a stable economy... since oil is NAEG's main business, however, our study of this area has lead our Board to conclude that a multi-faceted approach was really in order. This joint initiative with Eurowest, at once, provides access to the affordable housing market on the reservations, and throughout the northwestern U.S. to our Canadian Partner, while at the same time it allows NAEG the chance to help expand homeownership opportunities within Native American communities here and elsewhere by creating safe, efficient, affordable housing. Therefore, Eurowest Panel Homes Ltd. and Native American Energy Group, Inc. (NAEG), the Licensee, will operate on a (50% / 50%) fifty / fifty profit share basis regarding all net profits after expenses on this particular project. The protocol also calls for a jointly owned manufacturing plant to be established on the reservation, and a complete technology transfer." "Upon our receiving the approvals," D'Arrigo added, "upon introducing this technology to Indian Country, Eurowest will supply a 'model home' to be placed at an agreed location for marketing the Eurowest Panel Home Technology."

About the Eurowest Technology

Eurowest has developed a unique, cost-effective method of manufacturing a Cellular Cement Filled Steel Panel System for residential homes, commercial buildings, warehouses, farm buildings and other structures that has been perfected during the past several years, and a patented process which also includes a Polymer Stucco Coating on the exterior and interior of the steel panels referred to as the "Eurowest Panel System." The Joint Venture will also market the value added on products such as the solar panels, water and sewage treatments and garbage handling technologies.

The "Eurowest Panel System" offers significant advantages over the conventional wood-framed, log, stone, concrete and brick buildings:

-- Reduced overall cost

-- Reduced manufacturing and erection time

-- Easy to mass produce in any part of the Globe

-- Requires only minimal skills to erect

-- Easy to assemble or disassemble and move

-- Superior strength

-- Will not shrink, warp, split, swell, rot, or rust

-- Withstands winds in excess of 200 km/hr

-- Earthquake resistance to seismic zone 4

-- Fire-resistant

-- Burglar resistant

-- Termite and rodent proof

-- Lower Insurance Cost

-- Preservation of trees

-- Steel is 100% Recyclable

Eurowest has been operating its research and design, prototype plant at a facility in Northeast Calgary, just North of NAEG's oil & gas operations, which are just 60 miles from the Canadian border. Eurowest also has an office in the Philippines whereby factory plant equipment required is manufactured. During 1999, Eurowest established a connection with Mexico when it contracted to build 100 homes there, and the company began to receive some favorable press. A newspaper article entitled, "Calgary firm ships prefab homes to Mexico" can be seen at the following link that also includes a current photograph of a one of their finished houses:

http://www.nativeamericanenergy.com/eurowest/calgaryherald.pdf

Housing Shortage Problem Defined

The National American Indian Housing Council (NAIHC) provides us with the following Indian Housing FACT SHEET: http://www.naihc.net/news/index.asp?bid=6316

An "Immediate Need" of 200,000 housing units is estimated in Indian country, * and approximately 90,000 Native families are homeless or under-housed. * (U.S. Commission on Civil Rights, "A Quiet Crisis: Federal Funding and Unmet Needs in Indian Country," 2003) The average cost of a new home on a reservation is $125,000. (U.S. Department of Housing and Urban Development (HUD), 2003), however, the Native American homeownership rate is estimated to be as low as 33%, lowest among all ethnic groups and less than half the rate for the general U.S. population. ("Homeownership in Indian Country," The Enterprise Institute, 2004)

Statement of Pattye Green, Senior Business Manager, Fannie Mae

Speaking before the Committee on House Financial Services Subcommittee on Housing and Community Opportunity on July 31, 2006, Pattye Green emphasized that, "Finding ways to create affordable housing opportunities for Native American families living on tribal lands is one of the toughest challenges we face. ...We all know too well the statistics regarding Native American housing. The homeownership rate on reservations is 41 percent, well below the national average of 68 percent. Native Americans have chronic housing problems -- overcrowding, substandard conditions, inadequate infrastructure and a lack of affordable financing. According to the National American Indian Housing Council, nearly 33 percent of homes on tribal lands-more than six times the national average-are overcrowded, less than half of the homes in Indian Country are connected to public sewer systems, and 16 percent of these homes lack complete indoor plumbing. Almost half of Indian households pay more than 30 percent of their income for housing expenses, compared to 23 percent of all households in the U.S." In addition, she stated however that, "Fannie Mae has worked closely with tribes and other housing partners to support both the construction of new units and rehabilitation of existing units through investments in low- income housing tax credit investments (LIHTC), collateralized revenue bonds, and HUD guaranteed Native American Housing Assistance and Self Determination Act (NAHASDA) Title VI loans. We have also begun to provide Tribal Housing Authorities with additional financing via our Community Lending business channel to help bridge funding gaps during the construction phase of their developments."

Conclusion

Back in May of this year, Joseph D'Arrigo, Chief Executive Officer, and Raj Nanvaan, Chief Financial Officer of Native American Energy Group attended the Council of Energy Resource Tribes conference (CERT) in Denver Colorado where they had the opportunity to meet with directors and administrators from various organizations such as the U.S. Department of Housing & Urban Development (HUD), U.S. Department of Energy (DOE), as well as, Joe Garcia, the President of the National Congress of American Indians (NCAI). These organizations work together in promoting self determination among Native American tribes in the United States by implementing programs and workshops to educate, guide and assist them in achieving their objectives, and to promote economic development in these various regions.

Since then, NAEG has been in contact with these organizations as well as housing authorities of many reservations in the country to implement a plan of action geared to assist Indian Country in meeting this demand of over 200,000 homes. This action would not only provide housing for those in need, but also stimulate the economies by providing employment opportunities, as well.

About Native American Energy Group, Inc. (OTC Pink Sheets:NVMG) http://www.nativeamericanenergy.com/aboutus.htm

NAEG's previous achievements can be accessed on the Investor Relations page: http://www.nativeamericanenergy.com/investorrelations.htm

Safe Harbor Statement: This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities & Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.

SOURCE: Native American Energy Group, Inc.