Anfield Divests Uranium Royalty Portfolio To Focus On Its Wholly-Owned Near-Term Uranium and Vanadium Production Opportunities
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4390 Grange Street, Suite 2005
Burnaby, B.C. V5H 1P6
www.anfieldenergy.com
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TSX.V: AEC
OTCQB: ANLDF
FRANKFURT: 0AD
Anfield Divests Uranium Royalty Portfolio To Focus On Its Wholly-Owned Near-Term Uranium
and Vanadium Production Opportunities
VANCOUVER, BRITISH COLUMBIA -- STOCKWATCH – November 17, 2022 — Anfield Energy Inc. (TSX.V:
AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that i t
has entered into a royalty purchase agreement , dated November 17, 2022, with Uranium Royalty (USA)
Corp. (“URC”), a wholly-owned subsidiary of Uranium Royalty Corp ., in which Anfield has agreed to sell
its uranium royalty portfolio to URC in consideration of a one -time cash payment of US$1,500,000. The
portfolio consists of four royalties relate d to the Energy Queen and Whirlwind projects held by Energy
Fuels, Inc., the Dewey Burdock project held by enCore Energy and the San Rafael project held by
Western Uranium and Vanadium. The divestiture fits Anfield’s strategy with regard to the primary
pursuit of uranium and vanadium production through its wholly -owned conventional mine -and-mill
complex.
Corey Dias, Anfield CEO, stated, “We are pleased to have reached an agreement with URC regarding the
sale of our royalty portfolio as our focus remain s on leveraging our wholly -owned assets to meet our
goal of uranium and vanadium production. Anfield continues t o advance its assets to near -term
production while it seeks further opportunities to increase its longer -term uranium and vanadium asset
production pipeline in order to extend the life of its conventional mine -and-mill complex. This non-
dilutive cash inflow provides the Company with additional funds to be used to facilitate both parts of our
strategy.”
Completion of the transaction with URC remains subject to the approval of the TSX Venture Exchange,
and the satisfaction of customary closing conditions. No finders’ fee or commission is payable by the
Company in connection with the transaction. Uranium Energy Corp. is an insider of both the Company,
and URC, as a holder of more than 10% of the outstanding share capital of both companies. As a result,
the Company and URC are considered to be “non -arms’ length parties” under the policies of the TSX
Venture Exchange. The transaction is not considered a related party transaction within the meaning of
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
About Anfield
Anfield is a uranium and vanadium development and near-term production company that is committed
to becoming a top -tier energy -related fuels supplier by creating value through sustainable, efficient
growth in its assets. Anfield is a publicly traded corp oration listed on the TSX- Venture Exchange (AEC-
V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on its
conventional asset centre, as summarized below:
Arizona/Utah/Colorado – Shootaring Canyon Mill
A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring
Canyon Mill is strategically located within one of the historically most prolific uranium production areas
in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah ,
Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s
conventional uranium assets include the Velvet -Wood Project, the Frank M Uranium Project, the West
Slope Project, as well as the Findlay Tank breccia pipe. A NI 43 -101 PEA has been completed for the
Velvet-Wood Project. The PEA is preliminary in nature and includes inferred mineral resources that are
considered too speculative geologically to have economic considerations applied to them that would
enable them to be categorized as mineral reserves, and there is no certainty that the preliminary
economic assessment would be realized. All conventional uranium assets are situated within a 200 -mile
radius of the Shootaring Mill.
Technical Disclosure
Table 1. Anfield’s existing conventional uranium-vanadium project portfolio resources.
Project Location Classification Tons (kt)
Uranium
Grade
(% U3O8)
Contained
Uranium
(Mlbs U3O8)
Vanadium
Grade
(% V2O5)
Contained
Vanadium
(Mlbs V2O5)
Velvet-Wood Utah M & I 811 0.29% 4.6 - -
Inferred 87 0.32% 0.6 - -
West Slope Colorado Indicated 2,452 0.142% 6.9 - -
Inferred 2,452 - - 0.708% 34.7
Historic* 656 0.26% 3.5 1.49% 19.5
Frank M Utah Historic* 1,137 0.101% 2.3 - -
Findlay Tank Arizona Historic* 211 0.226% 1.0 - -
* The Company’s Qualified Person has not done sufficient work to classify these historic estimates as current mineral resources and Anfield is
not treating such historical resources as current mineral resources.
Velvet-Wood: The PEA for Velvet -Wood was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS Inc., Terence P. (Terry)
McNulty, P.E., D. Sc., of T.P. McNulty and Associates Inc. (May 31, 2016). Mineral resources are not mineral reserves and do not have
demonstrated economic viability in accordance with CIM standards. GT cut-off varies by locality from 0.25%-0.50%.
West Slope: NI 43 -101 resource estimate for the JD -6, JD-7, JD-8 and JD- 9 properties, completed by BRS Inc. (effective March 2022); Historic
resource estimate for the SR -11, SR-13A, SM-18 N, SM-18 S, LP-21 and CM-25 properties, completed by Behre Dolbear for Cotter Corporation
(August 2007). Indicated and Inferred resources using GT cut-off of 0.1 ft% eU3O8; historic resources using cut-off of 0.05% U3O8.
Frank M: Historic Technical Report for Frank M, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G. Principal
Engineer of BRS Inc., and Andrew C. Anderson, P.E., P.G. Senior Engineer/Geologist of BRS Inc., dated June 10, 2008. Frank M historic r esource
used a GT cut-off of 0.25%.
Findlay Tank: Historic Technical Report for Findlay Tank, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G.
Principal Engineer of BRS Inc., dated October 2, 2008. Findlay Tank historic resource used a grade cut-off of 0.05% eU3O8.
Table 2. Slick Rock historical project resources.
Project Location Classification Tons (kt)
Uranium
Grade
(% U3O8)
Contained
Uranium
(Mlbs U3O8)
Vanadium
Grade
(% V2O5)
Contained
Vanadium
(Mlbs V2O5)
Slick Rock Colorado Inferred 2,549 0.228% 11.6 1.37% 69.6
Slick Rock: Historical resource estimate prepared by BRS Engineering, Inc. (effective April 2014). GT cut-offs range from 0.25%-0.50%
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Anfield Energy, Inc.
Clive Mostert
Corporate Communications
780-920-5044
www.anfieldenergy.com
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