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 – October 15, 2020 — 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 challenges created by COVID -19, Anfield continues on its path toward low cost uranium
production. To this end, its primary focus remains on the Charlie project in Wyoming.
During 2020, Anfield has advanced its plans to improve its market position, as stated below:
• Completed transfer of DOE leases from Cotter Corporation
Earlier this year, the Department of Energy reviewed and granted Anfield's application to transfer the
nine DOE leases held by Cotter Corporation in Colorado and designated as the West Slope properties.
The Company is currently working with the Colorado Department of Reclamation Mining Services on the
process of transferring the mining permits held by Cotter for the same properties, to Anfield.
• Engaged U1 in settlement discussions regarding outstanding debt
Anfield has continued to negotiate with Uranium On e over the last year with regard to Anfield's
outstanding obligations to Uranium One pertaining primarily to Anfield's conventional hard rock assets,
including the Shootaring Mill. Given the current state of the uranium market, Anfield's near -term focus
is on its ISR -amenable projects, which will continue to drive plans to create the greatest value for the
Company.
• Raised approximately $3 million in equity
Anfield has raised approximately $3 million in equity in 2020 for further work related to the Charlie
project and general corporate purposes. The Company will continue to be opportunistic with regard to
further fundraising.
Corey Dias, Anfield’s CEO commented: "It has been a challenging year in the uranium sector for mining
companies, including Anfield. However, we have moved forward on several fronts and this period has
presented us with an opportunity to critically review and assess our entire portfolio in relation to
uranium market conditions and prospects. We have identified and ranked our assets in terms of both
acquisition and carrying cost, along with near -term and medium -term prospects and value to the
Company. This strategic review has shown us where we currently have some asset value inefficiencies
and where we have some opportunities to improve our asset mix, including embracing potential near -
term cash flow opportunities elsewhere. Going forward, we will look to realign and right -size our
portfolio and create a sustainable and attractive asset mix.
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
The Company's focus remains on its Charlie Project in Wyoming as its primary production target, and
believes that its estimated pre-production cost of $6.7 million and its low operating c osts and favorable
economics, as shown in BRS Engineering’s Preliminary Economic Assessment of Charlie, provide an
attractive near-term opportunity for the Company and its Shareholders. This is propitious timing. The
commodity price has increased by 20% over the year and we believe it is set for further increases due to
production cutbacks in primary supply, the unsustainability of higher cost uranium production, and the
support for the uranium sector by the U.S. government."
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
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 borr ow 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 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. An 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 proli fic uranium production areas
in the United States, and is one of only three 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. An NI 43 -101 Preliminary Economic Assessment
has been completed for the Velvet -Wood Project. The PEA is preliminary in nature, and includes
inferred minera l 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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PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS,
EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN
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COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE
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ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER 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 RESPONSIBILITY FOR ITS
CONTENTS.