Anfield Energy Inc. Provides Update on Precision Systems Engineering Reactivation Plan, Including Potential Shootaring Mill Uranium Production Capacity Increase
Head Office:
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TSX.V: AEC
OTCQB: ANLDF
FRANKFURT: 0AD
Anfield Energy Inc. Provides Update on
Precision Systems Engineering Reactivation Plan, Including Potential Shootaring
Mill Uranium Production Capacity Increase
VANCOUVER, BRITISH COLUMBIA – GLOBE NEWSWIRE – April 5 , 2023 — Anfield Energy Inc. (TSX.V:
AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or the “Company”) is pleased to provide an update
with regard to Precision System Engineering’s (“PSE”) progress on its reactivation report. PSE’s team has
been onsite at the Shootaring Mill multiple times to visually assess the current state of this asset. Initial
reactions from PSE are very positive, with much of the infrastructure of the facility in pristine condition,
requiring little to no refurbishment Where necessary, certain systems and components of the mill have
been identified for larger equipment overhauls or upgrades and will be key area of focus in the
reactivation plan.
PSE has also secured original schematics of the entire uranium mill which has resulted in a more
comprehensive and accelerated technical review. The schematics include detailed renderings of
Shootaring, which has allowed for quicker identification of equipmen t age and model. Also included are
outlines of the product flow within the facility, highlighting potential areas for increase in production
efficiencies. The availability of these schematics have alleviated near-term engineering and design
efforts, improving both schedule and cost projections.
PSE has undertaken its review via a section-by-section analysis of Shootaring in order to determine:
1) the current condition of each piece of equipment within each section;
2) which pieces of equipment meet the current health and safety standards in place at the state
level;
3) which pieces of equipment that meet these standards actually remain functional;
4) the rehabilitation cost and timeline to bring the se functional pieces of equipment to prime
operational condition; and
5) the cost and timeline required to replace both those non-functional and below-standard pieces
of equipment.
Given the detailed schematics and detailed analysis, and the current condition of the mill, PSE is now
working with both its process experts and process engineers to understand the current production
throughput capacity of the facility – which currently stands at 750 tons per day – based on the original
equipment. Additionally, PSE is conducting a cost-benefit analysis related to utilizing modern efficiencies
and technologies within identified existing mill space to potentially increase the current throughput limit
to either 1,000 tons per day or 1,250 tons per day, with the aim of increasing uranium production
capacity from the current 1 million pounds per year to 2 million pounds per year . This is expected to be
accomplished using modern equipment and technologies in key areas to eliminate current limitations.
PSE has also secured original engineering designs relative to the construction of a proposed vanadium
circuit at Shootaring. This has allowed PSE to accelerate its process of design and advanced engineering
related to this new facility. In addition, PSE has identified a section of the mill site on which to build the
new facility, and has begun the scoping process.
Anfield CEO, Corey Dias, stated, “We are extremely pleased with the progress being made by PSE
regarding the reactivation program to facilitate the ultimate restart of Shootaring. The potential
increase of mill capacity to increased uranium production is another critical component of the mill’s
production profile as it will allow Anfield to add near -term uranium mine production to serve as spokes
to its proposed hub-and-spoke production model. The advanced state of the vanadium circuit designs is
even more positive news , as an accelerated timeline to complete advanced engineering design moves
the Company closer to construction. This update, when considered in conjunction with our recent PEA
news, underscores Anfield’s extremely positive market position with regard to uran ium and vanadium
production potential and justifies the Company’s hub-and-spoke production strategy”.
About Anfield
Anfield is a uranium and vanadium development and near -term production company that is committed
to becoming a top -tier energy -related fue ls 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 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 and vanadium assets include the Slick Rock Project, the Velvet-Wood Project, the
Frank M Uranium Project, the West Slope Project, the Long Park Project as well as the Findlay Tank
breccia pipe. All conventional uranium assets are situated within a 200 -mile radius of the Shootaring
Mill.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Neither the 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
This news release may contain certain “Forward-Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or
if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”,
“forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or
information. These forward-looking statements or information may relate to the reactivation of the
Shootaring Canyon Mill, the potential addition of a vanadium production circuit, and other factors or
information. Such statements represent the Company’s current views with respect to future events and
are necessarily based upon a number of assumptions and estimates that, while considered reasonable
by the Company, are inherently subject to significant business, economic, competitive, political and
social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause
results, performance, or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to update these forward-looking
statements or information to reflect changes in assumptions or changes in circumstances or any other
events affecting such statements and information other than as required by applicable laws, rules and
regulations.