Anfield Energy Closes US$6.9 million Underwritten Public Offering

Head Office:

4390 Grange Street

Suite 2005,

Burnaby, BC V6H 1P6

www.anfieldenergy.com

Office: 604-669-5762

Fax: 604-608-4804

TSX.V : AEC

NASDAQ : AEC

Frankfurt : 0AD

Anfield Energy Closes US$6.9 million Underwritten Public Offering

VANCOUVER, BC, July 31, 2026 – Anfield Energy Inc. (“Anfield” or the “Company”) (TSX.V: AEC;

NASDAQ: AEC; FRANKFURT: 0AD) has closed its previously announced underwritten public

offering (the “Offering”) of 1,715,000 common shares (the “Common Shares”), which includes

the full exercise of the underwriters’ option to purchase an additional 233,695 Common Shares,

at a price of US$4.00 per Common Share for aggregate gross proceeds to the Company of

US$6.9 million.

The Offering was conducted through a syndicate of underwriters led by Northland Capital

Markets and Roth Capital Partners as joint bookrunners, pursuant to an underwriting

agreement dated July 30, 2026, by and among the Company and the underwriters (the

“Underwriting Agreement”). The Offering includes participation from existing strategic investor

Uranium Energy Corp. (NYSE: UEC) (“Uranium Energy”) through its wholly-owned subsidiary

UEC Energy Corp. (“UEC”).

The Company intends to use the net proceeds from the Offering to fund capital commitments

to the Paradox Complex, Velvet-Wood Project, the Slick Rock Complex and the Shootaring

Canyon Mill, for working capital and for general corporate purposes.

The underwriters received underwriter discounts and commissions totaling approximately

$261,600 in respect of the gross proceeds from the sale of the Common Shares in the Offering.

In connection with the Offering, the Company filed, with the securities commissions in all of the

provinces and territories of Canada, a final prospectus supplement (the “Prospectus

Supplement”) to the Company’s existing base shelf prospectus (the “Base Shelf Prospectus”)

filed with the securities commissions in each of the provinces and territories of Canada, and

filed a final prospectus supplement in the United States (the “U.S. Prospectus Supplement”,

together with the Prospectus Supplement, the “Prospectus Supplements”) to the Company’s

existing base shelf prospectus (the “U.S. Base Shelf Prospectus”, together with the Base Shelf

Prospectus, the “Base Shelf Prospectuses”) forming part of an effective registration statement

on Form F-10 (File No. 333-291078) (the “Registration Statement”) filed with the U.S. Securities

and Exchange Commission (“SEC”) under the U.S./Canada Multijurisdictional Disclosure System.

The Offering was made in the United States and in each of the provinces and territories of

Canada, except Quebec. The Prospectus Supplements, the Base Shelf Prospectuses and the

Registration Statement contain important information about the Company and the Offering.

Prospective investors should read the Prospectus Supplements, the Base Shelf Prospectuses

and the Registration Statement and the documents incorporated by reference therein before

making an investment decision. The Prospectus Supplement (together with the related Base

Shelf Prospectus) is available on SEDAR+ at www.sedarplus.ca. The U.S. Prospectus Supplement

(together with the U.S. Base Shelf Prospectus, forming part of the Registration Statement) is

available on the SEC’s website at www.sec.gov. Alternatively, an electronic or paper copy of the

Prospectus Supplement (together with the related Base Shelf Prospectus) may be obtained,

upon request and without charge by contacting Roth Canada, Inc, Attention: Capital Markets,

1921-130 King Street West, Toronto, ON M5X 2A2, or by email at [email protected], and the

U.S. Prospectus Supplement (together with the related U.S. Base Shelf Prospectus, forming part

of the Registration Statement) may be obtained, upon request by contacting Northland

Securities, Inc., 150 South Fifth Street, Suite 3300, Minneapolis, MN 55402, Attention: Valencia

Day by telephone at (612) 851-4917. Delivery of the Prospectus Supplement and the Base Shelf

Prospectus and any amendment thereto will be satisfied in accordance with the “access equals

delivery” provisions of applicable securities legislation.

Uranium Energy’s participation in the Offering through its wholly-owned subsidiary, UEC for

625,000 Common Shares and gross proceeds of US$2,500,000, constitutes a “related party

transaction” within the meaning of TSXV Policy 5.9 – Protection of Minority Security Holders in

Special Transactions and Multilateral Instrument 61-101 – Protection of Minority Security

Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from

the formal valuation and minority shareholder approval requirements of MI 61-101 contained

in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Offering as neither the fair market

value (as determined under MI 61-101) of the subject matter of, nor the fair market value of

the consideration for, the transaction, insofar as it involves Uranium Energy, exceeds 25% of

the Company’s market capitalization. The Company did not file a material change report at least

21 days in advance of the closing of the Offering as the participation of Uranium Energy,

through its wholly-owned subsidiary UEC, in the Offering had not been confirmed at that time.

This news release does not constitute an offer to sell or the solicitation of an offer to buy

securities, nor will there be any sale of the securities in any province, territory, state or

jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or

qualification under the securities laws of any such province, territory, state or jurisdiction. The

securities being offered have not been approved or disapproved by any regulatory authority,

nor has any such authority passed upon the accuracy or adequacy of the Prospectus

Supplements, the Base Shelf Prospectuses or the Registration Statement.

About Anfield

Anfield Energy is a uranium and vanadium development and near-term production company

committed to becoming a significant supplier of energy-related fuels through sustainable,

efficient growth of its U.S.-based assets. The Company’s flagship asset is the Shootaring Canyon

Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills

in the country. Anfield’s portfolio includes the advanced Velvet-Wood project (Utah) and other

conventional uranium-vanadium assets in Utah, Colorado, Arizona, and New Mexico. All of

Anfield’s assets are located in the United States, positioning the Company to help meet

America’s growing nuclear fuel needs. The U.S. consumes nearly 50 million pounds of uranium

annually yet produces only a small fraction domestically.

On behalf of the Board of Directors

ANFIELD ENERGY INC.

Corey Dias, Chief Executive Officer

Contact:

Anfield Energy, Inc.

Corporate Communications

604-669-5762

contact@anfieldenergy.com

www.anfieldenergy.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and forward-looking information (together, “forward-

looking statements”) within the meaning of the United States Private Securities Litigation Reform Act of 1995 and

applicable Canadian securities laws. All statements, other than statements of historical facts, are forward- looking

statements. Generally, forward-looking statements can be identified by the use of terminology such as “seek”,

“expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”,

“potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative

variations) suggesting future outcomes or statements regarding an outlook or statements that certain actions,

events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” (including negative variations).

Forward-looking statements in this release include, but are not limited to, statements regarding the Offering; the

completion of the Offering on the anticipated terms, if at all; information concerning the expected filing of the final

prospectus supplement and final U.S. prospectus supplement; expected sale of the Common Shares under the

Offering; statements regarding the anticipated benefits and impacts of the Offering and statements regarding the

anticipated use of proceeds from the Offering. Forward-looking statements are based on the Company’s current

beliefs and assumptions as to the outcome and timing of future events, including, but not limited to, that the

Company completes the Offering, that the proceeds of the Offering will be deployed as anticipated, and the

anticipated benefits and impacts of the Offering being realized. Forward -looking statements involve risks,

uncertainties and other factors that could cause actual results, performance and opportunities to differ materially

from those implied by such forward-looking statements. Factors that could cause actual results to differ materially

from these forward-looking statements include, among other things: the ability of the Company to successfully

close a financing, including filing the final prospectus supplement and final U.S. prospectus supplement, and

completing the Offering; the anticipated use of proceeds from any offering made under the Company’s Base Shelf

Prospectuses and any offerings to be conducted thereunder including the Offering; the benefits and impacts of the

Offering not being as anticipated; the risks and uncertainties relating to exploration and development; the ability of

the Company to obtain additional financing; the need to comply with environmental and governmental regulations

in Canada and the United States; fluctuations in the prices of commodities; operating hazards and risks;

competition and other risks and uncertainties and other such factors as are set forth in the Base Shelf Prospectuses

and the Prospectus Supplements (including the documents incorporated by reference therein) , as well as the

management discussion and analysis and other disclosures of risk factors for the Company, filed on SEDAR+ at

www.sedarplus.ca. Although the Company believes that the information and assumptions used in preparing the

forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only

apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed

time frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation

to update or revise any forward-looking statement, whether as a result of new information, future events or

otherwise.