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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&#9;</FONT><FONT STYLE="font-size: 12pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">Date of report (Date of earliest event reported): <B>January 24,
2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>American Sands Energy Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;<FONT STYLE="font-size: 10pt">(Exact Name of Registrant as Specified
in Charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">Delaware</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">000-53167</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">87-0405708</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Commission File Number</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-left: 5.4pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline">4760 South Highland Drive, Suite 341, Salt Lake City, Utah</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">84117</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">Registrant&rsquo;s telephone number, including area code<B>: (801)
699-3966</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities
Act</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;Soliciting material pursuant to Rule 14a-12 under the
Exchange Act</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings 2">&#163;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><B>Item 1.01 &nbsp;&nbsp;&nbsp;&nbsp;Entry
into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective January 24, 2012, American Sands
Energy Corp. (the &ldquo;Company&rdquo;) entered into a License, Development and Engineering Agreement with Universal Oil Recovery
Corp. and SRS International (the &ldquo;License Agreement&rdquo;) whereby the Company was granted an exclusive non-transferable
license to use certain technology in its proposed business to extract bitumen from tar sands and oil sands. The territory covered
by the agreement includes the State of Utah and any other geographic location in which a future designated project is commenced
by or through the Company. In conjunction with the License Agreement, and as disclosed more fully below in response to Item 1.02,
the Company terminated its operating agreement with Bleeding Rock LLC (&ldquo;Bleeding Rock&rdquo;) under which Bleeding Rock had
licensed rights to use similar technology to the Company. The License Agreement also designates the Company as an &ldquo;authorized
agent&rdquo; in representing the owner of the technology in future projects. William C. Gibbs, the President, a director, and principal
shareholder of the Company, is an owner and manager of Bleeding Rock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The License Agreement requires the licensing
parties to provide demonstration equipment for the process by which their proprietary solvent extracts bitumen from oil sands and
to demonstrate the process on up to 150 tons of oil sands. The term of the License Agreement is for 20 years and so long thereafter
as production of products using the technology is commercially and economically feasible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon successful completion of the demonstration
project, the Company and the owners of the technology have agreed to enter into a project development agreement whereby the Company
and such owners will engineer, design and construct a facility capable of processing up to 3000 barrels per day of bitumen from
oil sand ore.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The owners of the technology may terminate
the License Agreement if the Company fails to use commercially reasonable efforts to develop its tar sands projects. The Company
may terminate the agreement if the technology owners breach any of their obligations under the agreement, including representations
that the solvent is suitable for the Company&rsquo;s Sunnyside project, or if the demonstration project is unsuccessful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contemporaneous with the execution of the License
Agreement described above and the Termination Agreement described in Item 1.02 below, the Company entered into a Gross Royalty
Agreement with Bleeding Rock whereby the Company is obligated to pay a royalty equal to 1.5% of the gross receipts from future
projects using the technology, excluding the current project in Sunnyside, Utah.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of the date of the Termination Agreement,
Green River Resources, Inc. (&ldquo;GRR&rdquo;), a wholly owned subsidiary of the Company, owed $1,446,551.00 to Bleeding Rock
payable under the terms of the Operating Agreement. In connection with the termination of the Operating Agreement, GRR issued a
5% convertible promissory note to Bleeding Rock for this amount. The note is due and payable in one year from the date of the note
and is convertible into shares of the Company&rsquo;s common stock any time before maturity at the rate of one share for each $0.50
of principal or interest converted. The Company is not responsible for the repayment of the note issued by GRR</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 1.02 &#9;Termination of a Material
Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective January 24, 2012, the Company entered
into a Termination Agreement with GRR (the &ldquo;Termination Agreement&rdquo;). The purpose of the agreement was to terminate
the Operating Agreement dated May 31, 2005, as amended, between Bleeding Rock and GRR (the &ldquo;Operating Agreement&rdquo;).
Pursuant to the Operating Agreement GRR had obtained the rights through Bleeding Rock to utilize a process for the development,
engineering and extraction of hydrocarbons from tar sands. In light of conversations with potential investors, the Company determined
that having the technology licensed directly to the Company rather than through Bleeding Rock and the Operating Agreement would
be beneficial to fund raising prospects. As a result, the Company entered into the License Agreement described in Item 1.01 above.
In partial consideration for Bleeding Rock agreeing to terminate the Operating Agreement, the Company granted the royalty described
in Item 1.01 above. In addition, the Termination Agreement included mutual releases relating to the Operating Agreement.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B>American Sands Energy Corp.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%; border-bottom: Black 1pt solid">/s/ William C. Gibbs</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">William C. Gibbs, President<BR></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">Date:&nbsp;&nbsp;January 30, 2012</P>


</P>



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{"company-data": {"conformed-name": "American Sands Energy Corp.", "cik": "0001432001", "assigned-sic": "6770", "irs-number": "870405708", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-53167", "film-number": "12554995"}, "business-address": {"street1": "4760 S. HIGHLAND DRIVE", "street2": "SUITE 341", "city": "SALT LAKE CITY", "state": "UT", "zip": "84117", "phone": "801-277-7888"}, "mail-address": {"street1": "4760 S. HIGHLAND DRIVE", "street2": "SUITE 341", "city": "SALT LAKE CITY", "state": "UT", "zip": "84117"}, "former-company": {"former-conformed-name": "Millstream Ventures, Inc.", "date-changed": "20080409"}}
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
January 24,
2012
American Sands Energy Corp.
(Exact Name of Registrant as Specified
in Charter)
Delaware
000-53167
87-0405708
(State or Other Jurisdiction of Incorporation)
Commission File Number
(IRS Employer Identification No.)
4760 South Highland Drive, Suite 341, Salt Lake City, Utah
84117
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
: (801)
699-3966
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£
Written communications pursuant to Rule 425 under the Securities
Act
£
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
£
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act
1
Item 1.01     Entry
into a Material Definitive Agreement.
Effective January 24, 2012, American Sands
Energy Corp. (the "Company") entered into a License, Development and Engineering Agreement with Universal Oil Recovery
Corp. and SRS International (the "License Agreement") whereby the Company was granted an exclusive non-transferable
license to use certain technology in its proposed business to extract bitumen from tar sands and oil sands. The territory covered
by the agreement includes the State of Utah and any other geographic location in which a future designated project is commenced
by or through the Company. In conjunction with the License Agreement, and as disclosed more fully below in response to Item 1.02,
the Company terminated its operating agreement with Bleeding Rock LLC ("Bleeding Rock") under which Bleeding Rock had
licensed rights to use similar technology to the Company. The License Agreement also designates the Company as an "authorized
agent" in representing the owner of the technology in future projects. William C. Gibbs, the President, a director, and principal
shareholder of the Company, is an owner and manager of Bleeding Rock.
The License Agreement requires the licensing
parties to provide demonstration equipment for the process by which their proprietary solvent extracts bitumen from oil sands and
to demonstrate the process on up to 150 tons of oil sands. The term of the License Agreement is for 20 years and so long thereafter
as production of products using the technology is commercially and economically feasible.
Upon successful completion of the demonstration
project, the Company and the owners of the technology have agreed to enter into a project development agreement whereby the Company
and such owners will engineer, design and construct a facility capable of processing up to 3000 barrels per day of bitumen from
oil sand ore.
The owners of the technology may terminate
the License Agreement if the Company fails to use commercially reasonable efforts to develop its tar sands projects. The Company
may terminate the agreement if the technology owners breach any of their obligations under the agreement, including representations
that the solvent is suitable for the Company's Sunnyside project, or if the demonstration project is unsuccessful.
Contemporaneous with the execution of the License
Agreement described above and the Termination Agreement described in Item 1.02 below, the Company entered into a Gross Royalty
Agreement with Bleeding Rock whereby the Company is obligated to pay a royalty equal to 1.5% of the gross receipts from future
projects using the technology, excluding the current project in Sunnyside, Utah.
As of the date of the Termination Agreement,
Green River Resources, Inc. ("GRR"), a wholly owned subsidiary of the Company, owed $1,446,551.00 to Bleeding Rock
payable under the terms of the Operating Agreement. In connection with the termination of the Operating Agreement, GRR issued a
5% convertible promissory note to Bleeding Rock for this amount. The note is due and payable in one year from the date of the note
and is convertible into shares of the Company's common stock any time before maturity at the rate of one share for each $0.50
of principal or interest converted. The Company is not responsible for the repayment of the note issued by GRR
Item 1.02 	Termination of a Material
Definitive Agreement.
Effective January 24, 2012, the Company entered
into a Termination Agreement with GRR (the "Termination Agreement"). The purpose of the agreement was to terminate
the Operating Agreement dated May 31, 2005, as amended, between Bleeding Rock and GRR (the "Operating Agreement").
Pursuant to the Operating Agreement GRR had obtained the rights through Bleeding Rock to utilize a process for the development,
engineering and extraction of hydrocarbons from tar sands. In light of conversations with potential investors, the Company determined
that having the technology licensed directly to the Company rather than through Bleeding Rock and the Operating Agreement would
be beneficial to fund raising prospects. As a result, the Company entered into the License Agreement described in Item 1.01 above.
In partial consideration for Bleeding Rock agreeing to terminate the Operating Agreement, the Company granted the royalty described
in Item 1.01 above. In addition, the Termination Agreement included mutual releases relating to the Operating Agreement.
2
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
American Sands Energy Corp.
By:
/s/ William C. Gibbs
William C. Gibbs, President
Date:  January 30, 2012
3