Anfield Energy Announces Resource Report for Third of 25 Uranium Projects in Wyoming
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Anfield Energy Announces Resource Report for Third of 25 Uranium
Projects in Wyoming
VANCOUVER, BRITISH COLUMBIA -- GLOBAL NEWSWIRE – April 5, 2018 — Anfield Energy Inc. (TSX.V:
AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce the
receipt of an NI 43-101 compliant mineral resource technical report for the Nine Mile Lake uranium
project, entitled “Nine Mile Lake Uranium Project, Mineral Resource NI 43-101 Technical Report,
Natrona County, Wyoming, USA” with effective date March 29, 2017 (the “Nine Mile Report”). Further
to Anfield’s news release of March 21, 2017, the Nine Mile Report is the third in a series of NI 43-101
technical reports related to Anfield’s 25 Wyoming uranium projects. The report was completed by BRS,
Inc., a consulting and engineering firm with more than 40 years of experience assessing Wyoming
uranium projects.
The resource estimate includes:
• an Indicated Resource of 2,108,000 tons of mineralized material with an average grade of
0.059% (equivalent to an Indicated Resource of 2,504,000 pounds of U3O8); and
• an Inferred Resource of 1,297,000 tons of mineralized material with an average grade of
0.070% (equivalent to an Inferred Resource of 1,804,000 pounds of U3O8).
Corey Dias, Anfield’s CEO stated, “We are very pleased to announce the receipt of this resource report.
Since acquiring 24 Wyoming uranium projects from Uranium One in 2016, we have committed to
updating and confirming resources held on those properties. This report is the third to have been
completed, and there remains a significant opportunity to delineate further uranium resources on the
remaining 21 projects. Moreover, with the Charlie project resource report expected to be completed
within the next 60 days, we expect to see continued significant growth in our uranium resource base.
Finally, Anfield remains on course to deliver on its strategy of creating a viable uranium production
complex in Wyoming as it looks to pair its resource base with the Resin Processing Agreement it has in
place with Uranium One whereby it can process up to 500,000 pounds of uranium per year at Uranium
One’s Irigaray Central Processing Plant.”
A summary of the Indicated Mineral Resource included in the Nine Mile Report is presented in Table 1.1.
A summary of the Indicated Mineral Resource included in the Nine Mile Report is presented in Table 1.2.
Table 1.1 Indicated Mineral Resources
GT minimum Pounds % eU3O8 Tons Average Grade
%eU3O8
0.25 2,504,000 2,108,000 0.059
Table 1.2 Inferred Mineral Resources
GT minimum Pounds % eU3O8 Tons Average Grade
%eU3O8
0.25 1,804,000 1,297,000 0.070
Mineral resources are not mineral reserves and do not have demonstrated economic viability in
accordance with CIM standards. Inferred Mineral Resources are too speculative geologically to have the
economic considerations applied to them which would enable them to be categorized as mineral
reserves.
About Nine Mile Lake Project
The Nine Mile Lake project comprises approximately 6,619 acres of Anfield’s mineral rights including
mining claims and mineral leases. and includes 190 unpatented mining lode claims, 1,280 acres of State
mineral leases and 1,538.6 acres of private mineral leases. The data used in the report consists of
radiometric-equivalent data (eU3O8) for 1,100 drill holes; drill intercept data from 26 core holes and 238
rotary drill holes were utilized, along with drill intercepts, chemical assay certificates and both
lithological and geophysical logs.
To the best of our knowledge there are no legal or environmental matters that could materially affect
the potential development of these resources.
Radiometric equilibrium was assumed, and is considered reasonable with respect to mineral resources
as the mineralization is well below the ground water table and not subject to surficial oxidation.
A unit weight of 125 pounds per cubic foot or 16 cubic feet per ton was assumed, based on the report
Author’s experience working in operating mines within similar sandstone uranium deposits where
reserve estimates were routinely compared to actual production.
Indicated mineral resources were estimated using the GT contour method which is considered
appropriate for this type of deposit. The GT was determined for each drill hole, by major stratigraphic
horizon, and the GT was summed for all intercepts meeting the cut-off criteria by horizon for each hole.
Inferred mineral resources were estimated for those areas where location of the REDOX front was
known based on past drilling but the available data was not sufficient to estimate Indicated Mineral
Resources.
NI 43-101 Disclosure
The NI 43-101 Resource Technical Report completed for Nine Mile Lake has been authored by Douglas L.
Beahm, P.E., P.G. Principal Engineer, of BRS Inc. The author has reviewed and approved the technical
content of this news release.
A technical report on the Resource Technical Report will be published on the System for Electronic
Analysis and Retrieval (“SEDAR”) and the Company’s website within the 45 days permitted under NI 43-
101.
About BRS
BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral
exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine
design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects
including technical reports and feasibility studies for underground, open pit, ISR, and conventional
uranium mills. Representative projects include technical reports and due diligence for project financing
for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming,
the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous
ISR uranium projects in Wyoming and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, is a Qualified Person as defined in NI 43-101
with more than 40 years of professional and managerial experience. Mr. Beahm has a proven track
record in a variety of mining and mine reclamation projects including surface and underground mining,
heap leach recovery, ISR, and uranium mill tailings projects. Mr. Beahm’s experience includes coal,
precious metals, and industrial minerals, but his emphasis throughout his career has been on uranium.
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 corporation listed on the TSX-Venture Exchange (AEC-V),
the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two
production centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has signed a Resin Processing Agreement with Uranium One whereby Anfield would process up
to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in
Wyoming. In addition, the Company can both buy and borrow uranium from Uranium One in order to
fulfill some or all of its sales contracts.
Anfield’s 25 ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin,
Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming. Anfield’s two projects in Wyoming
for which NI 43-101 resource reports have been completed are Red Rim and Clarkson Hill.
The Charlie Project, acquired from Cotter Corporation, is located in the Pumpkin Buttes Uranium District
in Johnson County, Wyoming. The Charlie Project consists of a 720-acre Wyoming State uranium lease
which has been in development since 1969.
Arizona/Utah – 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
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, as well as the Findlay
Tank breccia pipe. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-
Wood Project. All conventional uranium assets are situated within a 125-mile radius of the Shootaring
Mill.
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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