Flex Fuels Energy, Inc. Announces Malibu Gold Property Study and Share Buy Back Completion

LONDON, June 16, 2009 (GLOBE NEWSWIRE) -- Flex Fuels Energy, Inc. ("Flex Fuels"
or the "Company") (OTCBB:FXFL) has conducted a further study of its Malibu Gold
Property ("MGP") located approximately 110 km northwest of Vancouver, British
Columbia.

The MGP consists of two waterside mineral claims containing 33 cell claim units
totalling approximately 683 hectares.

Previous surveys have indicated that the MGP hosts gold and base metal deposits
within quartz veins and quartz-filled shear zones. Two short tunnels ("adits")
dating back to the early part of last century have been driven on the
mineralized areas, exposing gold mineralization in the #1 adit and a 30 to 130
cm wide gold-bearing quartz vein in the #2 adit. The vein pinches and swells
along 50 metres of shoreline cliffs. The #2 adit previously gave a gold assay of
0.72 oz/t Au across 40 cm in a channel sample across the exposed quartz vein.

In line with the announcement of February 5, 2009 and the weather being
favourable the Company has recently resurveyed the site, taking several diamond
saw cut rock samples. These samples are in the care and control of an
Independent Geologist, as per the National Instrument 43-101 regulations
governing the Standards of Disclosure for Mineral Projects within Canada.

The Independent Geologist will report upon the samples and assays. The Company
has also ordered a thin-section interpretation of the mineralization to be
conducted by Vancouver Petrographics Ltd. This study is designed to assess the
microscopic nature of the mineralization.

The results of these studies are expected to be available by the third calendar
quarter, 2009 and will form the basis for the identification of drill and
trenching targets for Phase 3 exploration, if justified.

Share Buy Back

The Company has completed a share buy back as a result of stock purchase
agreements entered into on May 21, 2009 whereby it has purchased an aggregate of
16,989,136 shares of our common stock from three shareholders at a price of
$0.008 per share for an aggregate price of approximately $135,913. These shares
will be returned to treasury as authorised but unissued, reducing the Company's
issued share capital by approximately 24.5%.

Tom Barr, CEO, commented: "The Malibu Gold Prospect is the Company's original
asset. This latest exploration will enable the Company to plan the next steps
toward determining if the MGP hosts commercial gold reserves. I would also like
to extend my thanks to the selling founders of the unviable Flex Fuels Energy
Ltd business now abandoned by the Company for acting in assisting the Company to
reduce its issued share capital so that we may move forward."

About Flex Fuels Energy, Inc.

Flex Fuels is a diversified company with interests in the UK and mining
exploration activities in British Columbia, Canada.

To find out more about Flex Fuels Energy (OTCBB:FXFL), visit our website at
www.flexfuelsenergy.com.

The Flex Fuels Energy, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4085

Forward-Looking Statements

The statements in the press release that relate to the company's expectations
with regard to the future impact on the company's results from acquisitions or
actions in development are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The statements in this
document may also contain "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Although the Company believes that the expectations
reflected in the forward-looking statements are reasonable, such statements
should not be regarded as a representation by the Company, or any other person,
that such forward-looking statements will be achieved. Since the information may
contain statements that involve risk and uncertainties and are subject to change
at any time, the company's actual results may differ materially from expected
results. Flex Fuels Energy, Inc. disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise. In light of the foregoing, readers are
cautioned not to place undue reliance on such forward-looking statements.

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CONTACT: Flex Fuels Energy, Inc.
Tom Barr, CEO
+44 (0)7900 496 415