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 – GLOBAL NEWSWIRE – November 11, 2021 — Anfield
Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is
pleased to provide a corporate update. Anfield is also pleased to support the signing of the
recently-announced definitive agreement between Uranium One Americas and Uranium Energy
Corporation (UEC), and congratulates both parties in their pursuit of this transaction.
Corey Dias, Anfield CEO, states, "Anfield has worked with Uranium One since 2014 and remains
well-positioned to pursue uranium production in Wyoming - via its existing Resin Capture and
Processing Agreement - once the transaction closes. We look forward to working with UEC in
this regard.”
Resource updates
Through 2021, Anfield has positioned itself to take advantage of the increasing uranium price
through its work with BRS to update both uranium resource and exploration targets and also
determine economics of various projects within its portfolio. BRS is al so assessing the prospects
of drill programs for Anfield's ISR projects in Wyoming.
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
costs 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. Moreover, the commodity price has increased by 80% over the year could be set
for further increases due to production cutbacks in primary supply, the entry into the uranium
spot market by the Sprott Physical Uranium Trust and uranium producer Kazatomprom and the
recent news regarding the plan to build 150 nuclear reactors in China within 15 years.
Landholding management
Anfield completed the transfer of the Colorado -based West Slope uranium/vanadium
properties in 2020, and replaced the nine reclamation bonds associated with these projects
with a surety bond in 2021. The Company has also submitted Succession -Of-Operator
applications to the Department of Reclamation Mining Services (DRMS) in Colorado, and has
subsequently received mining permits for each of its West Slope properties. Finally, Anfield
increased its surety collateral at the Shootaring mill and remains in good standing with Utah
DEQ.
Equity funding
In 2021, Anfield has raised approximately $4.8 million via a private placement and received
approximately $5 million in warrant exercises, resulting in a current cash balance of close to $5
million.
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 – 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.
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.
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.
Arizona/Utah/Colorado – Shootaring Canyon Mill
Another 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 , 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
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS
RELEASE THAT ARE NOT 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 FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE
RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS.
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FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL
EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT
ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE
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REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND
DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S EXPLORATION
EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE
FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO
UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE
FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS,
EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE
NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE 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.