Anfield Energy Provides Corporate Update
Head Office:
4390 Grange Street, Suite 2005
Burnaby, B.C. V5H 1P6
www.anfieldenergy.com
Office: 604.669.5762
Fax: 604.608.4804
TSX.V: AEC
OTCQB: ANLDF
FRANKFURT: 0AD
Anfield Energy Provides Corporate Update
VANCOUVER, BRITISH COLUMBIA -- STOCKWATCH – January 26, 2022 — Anfield Energy Inc. (TSX.V:
AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to provide a corporate
update with regard to its operations.
Despite the continuing challenges created by COVID-19, Anfield remains committed to achieving its goal
of uranium production with its solid asset portfolio providing a clear and compelling path forward.
During 2021, Anfield has advanced its plans to improve its market position, as outlined below:
• Raised approximately $4.8 million in equity and received $7.5 million through warrant exercises
Anfield raised approximately $4.8 million in equity in 2021 and received approximately $ 7.5 million
through warrant exercises. Not only has this allowed Anfield to co mplete additional work associated
with its Charlie project, it has also allowed the Company to replace the US$2.4 million of surety bonds
for its West Slope properties and fund the required increase to its US$11.3 million reclamation bond for
the Shootaring mill. Anfield closed the year with $4.9 million on its balance sheet.
• Engaged BRS Engineering to assess Anfield’s Taylor Ranch ISR project in Wyoming
Anfield engaged BRS Engineering to assess the potential of the Company’s Taylor Ranch project. Under
consideration by BRS are plans to delineate a resource and determine economics from historical work
done on the property by previous owners, along with th e potential of resource confirmation and
expansion through a drill program.
Corey Dias, Anfield’s CEO commented: " 2021 began as a challenging year in the uranium sector;
however, as the year progressed there was positive movement in the commodity price and overall
sentiment. Further, n uclear energy is being increasingly seen as essential to providing baseload
electricity and providing a critical part of the clean energy mix in both North America and Europe . New
generation small modular reactors (SMRs) with shorter lead times and lower capital requirements are
reducing investment constraints. Moreover, the entry into the market by the Sprott Physical Uranium
Trust – following ongoing spot market purchases by both large uranium -producing incumbents, Cameco
and Kazatomprom - brought a new dimension to the strategic importance of the uranium spot market
and highlighted the potential vulnerability of spot market dependence by utilities. Finally, the recent
unrest in Kazakhstan and heightened tension between Russia and the West serve as a reminder of the
importance of stable mining jurisdictions and assured uranium supplies. Given favorable trends in both
the uranium market and the nuclear sector and given increasing focus on supply stability, w e are
confident of a continued upswing in uranium prices.
We believe that recent market events provide Anfield with an opportunity to further position itself as a
strategic player in the U .S. uranium market. Anfield’s asset portfolio, consisting of both near -term and
longer-term opportunities, underscores its significant unrealized value. This portfolio includes, among
other assets, the outstanding Charlie ISR project and the conventional uranium asset portfolio
underpinned by the Shootaring mill. We feel we are well positioned to thrive in the upcoming uranium
bull market.”
About Anfield
Anfield is a uranium and vanadium development and near -term production company that is committed
to becoming a top-tier U.S. 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
asset centers, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Capture and Processing Agreement)
Anfield has signed a Resin Capture and 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 24 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 three projects in
Wyoming for which NI 43-101 resource reports have been completed are Red Rim, Nine Mile Lake and
Clarkson Hill.
The Charlie Project, Anfield’s flagship ISR uranium project, 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. A NI 43-101 Preliminary Economic Assessment has
been completed for the Charlie Project.
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 t hree licensed, permitted and constructed conventional 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 Preliminary Economic Assessment
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.
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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NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE.
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TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL
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