ANFIELD ENERGY INC. ANNOUNCES NOVEMBER 9 GROUND-BREAKING CEREMONY FOR VELVET-WOOD URANIUM-VANADIUM MINE, ADVANCING U.S. ENERGY INDEPENDENCE Event to Mark Official Start of Construction Following Expedited Federal and State Approvals;
ANFIELD ENERGY INC. ANNOUNCES NOVEMBER 9 GROUND-BREAKING CEREMONY FOR
VELVET-WOOD URANIUM-VANADIUM MINE, ADVANCING U.S. ENERGY INDEPENDENCE
Event to Mark Official Start of Construction Following Expedited Federal and State Approvals;
Ceremony to Feature Key Stakeholders, Highlighting Anfield's Role in Domestic Nuclear Fuel
Supply
Key Highlights:
• Milestone Momentum: Just weeks after Utah's final construction permit, groundbreaking
initiates mine reopening, dewatering, and development—paving the way for potential first
production in 2026.
• Critical Minerals Boost: Velvet-Wood poised to yield up to 4.6 million pounds of uranium
(Measured & Indicated) plus vanadium, processed at Anfield's Shootaring Canyon Mill to
support U.S. nuclear security.
• Community and Economic Impact: Ceremony to celebrate job creation in San Juan
County, Utah, with minimal environmental footprint (three acres of new surface
disturbance).
• National Alignment: Echoes President Trump's 2025 Executive Orders on nuclear growth,
addressing U.S. uranium import reliance (99% in 2023) and vanadium supply vulnerabilities.
VANCOUVER, British Columbia, Oct. 23, 2025 – Anfield Energy Inc. (NASDAQ: AEC; TSX.V: AEC;
FRANKFURT: 0AD) (“Anfield” or the “Company”) today announced plans for a ceremonial
groundbreaking on November 6, 2025, at its Velvet-Wood uranium-vanadium mine in San Juan
County, Utah. This pivotal event will signal the official launch of construction activities, following
the U.S. Department of the Interior's expedited federal approval in May and the Utah Department of
Oil, Gas and Mining's greenlight in October.
The ceremony, set for 11:00 a.m. local time at the mine site, will bring together Anfield executives,
local community leaders, and representatives from federal and state agencies to commemorate
this step forward in America's critical minerals resurgence. Attendees will witness the symbolic first
dig, underscoring Anfield's commitment to rapid mobilization: reopening the historic mine portal,
dewatering underground workings, building surface facilities, conducting inspections, and
advancing a new incline for ore extraction. All phases are designed for efficiency, integrating with
Anfield's Shootaring Canyon Mill—one of only three licensed conventional uranium mills in the
U.S.—to deliver processed concentrate swiftly.
“November 6 will be more than a groundbreaking—it's a bold declaration of Anfield's readiness to
help fuel the American nuclear renaissance, " said Corey Dias, CEO of Anfield Energy. "Building on
the Trump Administration's visionary Executive Orders—from reinvigorating the nuclear fuel cycle to
expanding the workforce—Velvet-Wood positions us to supply uranium for clean energy, medical
isotopes, and naval propulsion, while vanadium strengthens infrastructure and aerospace. With
uranium consumption at 50 million pounds annually and domestic output under 1%, projects like
ENERGY INC.
ANFIELD
www.anfieldenergy.com
Office: 604-669-5762
Fax: 604-608-4804
TSX.V : AEC
NASDAQ : AEC
Frankfurt : 0AD
Head Office:
4390 Grange Street,
Suite 2005,
Burnaby, B.C. V5H 1P6
ours are essential to energy dominance. We invite our stakeholders, partners, and the San Juan
County community to join us in this historic moment. "
Reviving a site that produced 4 million pounds of U3O8 and 5 million pounds of V2O5 from 1979 to
1984, Velvet-Wood's current resources (per the 2023 Preliminary Economic Assessment) stand at
4.6 million pounds eU3O8 at 0.29% grade (Measured & Indicated) and 552,000 pounds eU3O8 at
0.32% (Inferred), with a 1.4:1 vanadium-to-uranium ratio. The PEA forecasts a pre-tax NPV8% of
US$238M and IRR of 40% at US$70/lb U3O8 and US$12/lb V2O5, affirming strong potential amid
rising commodity prices.
This announcement follows the Department of the Interior's trailblazing 14-day environmental
review under President Trump's energy emergency declaration, as praised by Secretary Doug
Burgum: "This is mineral security in action. " Anfield's fully U.S.-based assets—including Slick Rock,
Frank M, and the Paradox Mine Complex—all within 200 miles of Shootaring Canyon, further solidify
the Company's hub-and-spoke model. Ongoing mill license upgrades aim for 3 million pounds
annual capacity, aligning with surging demand from utilities and advanced reactors.
Media and interested parties are encouraged to RSVP for the November 6 event via the Company
website. For more on Velvet-Wood, visit www.anfieldenergy.com.
About the Velvet-Wood Mine
Acquired from Uranium One in 2015, the project emphasizes underground mining with robust
reclamation plans. See the 2023 PEA for comprehensive details.
About Anfield
Anfield is a uranium and vanadium development and near-term production company dedicated to
sustainable energy fuels supply. Listed on NASDAQ (AEC), TSX Venture (AEC), and Frankfurt (0AD),
its assets target prolific U.S. districts to meet nuclear needs.
Qualified Person
Douglas L. Beahm, P .E., P .G., principal engineer at BRS Inc. and Anfield's COO, is a Qualified Person
as defined in NI 43-101 and has reviewed the technical content of this news release.
Preliminary Economic Assessment (Shootaring Canyon Mill, Velvet-Wood, and Slick Rock
Projects)
PEA results are preliminary forward-looking information, including inferred resources too
speculative for reserve classification. No certainty of realization; resources are not reserves. See
www.anfieldenergy.com or SEDAR+ for full PEA.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Contact:
Anfield Energy Inc.
Corey Dias, Chief Executive Officer
Corporate Communications
604-699-5762
contact@anfieldenergy.com (mailto:contact@anfieldenergy.com)
www.anfieldenergy.com
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Safe Harbor Statement
This news release contains forward-looking statements within applicable securities laws, including plans, expectations,
and intentions regarding the Velvet-Wood project and production. Such statements are based on assumptions and
subject to risks like regulatory changes, commodity prices, and funding. Actual results may differ materially. Anfield
disclaims updates except as required. Investors should review risk factors in periodic filings.