Anfield Energy Receives Colorado DRMS Completeness Determination and Staff Recommendation for Approval of JD-8 Mine Permit; Board Hearing Set for October 14-15, 2026
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Anfield Energy Receives Colorado DRMS Completeness Determination and Staff
Recommendation for Approval of JD-8 Mine Permit; Board Hearing Set for
October 14-15, 2026
VANCOUVER, BC, September 15, 2026 – Anfield Energy Inc. (“Anfield” or the “Company”)
(TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) today announced that its operating subsidiary,
Highbury Resources, Inc. (“Highbury”), has advanced Colorado state permitting for the JD-8
uranium and vanadium mine in Montrose County. By rationale dated August 24, 2026, the
Colorado Division of Reclamation, Mining and Safety (“DRMS”) determined that Highbury’s
Regular (112d) reclamation permit application (File No. M-2025-056) meets the requirements
of the Colorado Mined Land Reclamation Act and the Mineral Rules and Regulations of the
Colorado Mined Land Reclamation Board (the “Board” or “MLRB”) and recommended that the
Board approve the application. A staff finding of completeness, together with a
recommendation for approval, is a significant de-risking event. A formal public hearing is
scheduled for the Board’s October 14–15, 2026 meeting in Denver.
DRMS is Colorado’s principal state authority for hard-rock mine reclamation permitting. A
Division recommendation for approval moves JD-8 from staff-level review into a defined Board
decision window — a significant milestone in Anfield’s Colorado West Slope / Monogram Mesa
permitting program. The Board hearing is the final step in completing Anfield’s state permitting
for JD-8.
Corey Dias, Anfield CEO, commented: “DRMS’s recommendation that the Board approve the JD-
8 permit is a major permitting milestone. Colorado DRMS is the primary state authority for this
mine-plan decision, and the October Board hearing puts us in a defined decision window. JD-8 is
planned as Anfield’s second mine after Velvet-Wood, with a targeted restart by the end of Q2
2027, after which we intend to advance both JD-7 and Slick Rock. This is concrete progress
toward domestic conventional production feeding our Shootaring-centered hub-and-spoke
strategy.”
Permitting Path
This milestone follows a defined sequence of steps in the process:
• December 22, 2025 — DRMS issued an initial completeness determination on Highbury’s JD-
8 restart application package, allowing the matter to advance through substantive review.
• April 29, 2026 — The 112d application under File No. M-2025-056 was filed with DRMS (as
reflected in the Division’s September 10, 2026 hearing notice).
• August 24, 2026 — DRMS issued its rationale recommending that the Board approve the
application.
• September 10, 2026 — DRMS announced a Formal Board Hearing during the Board’s October
14–15, 2026 meeting in Denver.
Updated Timeline and Hub-and-Spoke Strategy
Subject to Board approval and remaining operational readiness work, Anfield is targeting a
restart of uranium and vanadium production at JD-8 by the end of the second quarter of 2027.
This updated timeline reflects the remaining Board process, mobilization, and underground
restart activities at a past-producing brownfield site. Velvet-Wood in Utah remains the
Company’s first mine advancing toward production; JD-8, along with Slick Rock, are intended to
be the next mines in Anfield’s hub-and-spoke model, with ore shipped to a permitted mill —
supporting the Shootaring Canyon Mill in Utah, one of only three licensed, permitted, and
constructed conventional uranium mills in the United States. No on-site processing or milling is
proposed in the JD-8 application.
Upon completion of JD-8 state reclamation permitting, Anfield intends to focus on advancing
additional Colorado mine permitting at both JD-7 (within the Monogram Mesa Mine Complex)
and at Slick Rock.
Market and U.S. Policy Backdrop
Since Anfield’s April 8, 2026 JD-8 amendment announcement, uranium market conditions and
U.S. nuclear-fuel policy have continued to strengthen. The uranium long-term contract price
closed August 2026 at US$96.50 per pound, above its 2007 peak, while spot U₃O₈ has recently
traded near US$90 per pound.
In the United States, policy support for domestic nuclear fuel has accelerated. The U.S.
Department of Energy has advanced large-scale nuclear supply-chain financing, including
US$17.5 billion in conditional American Nuclear Supply Chain loans to support new large
reactors, and has continued implementation of domestic enrichment and fuel-cycle programs
under the Defense Production Act. Additional recent developments include federal support for
reactor restarts, expansion plans at the only commercial-scale U.S. enrichment plant, and
continued administration emphasis on reducing reliance on foreign uranium as the ban on
Russian uranium imports phases toward full effect in 2028. EIA data have also shown a rebound
in U.S. uranium concentrate production.
Anfield believes this combination of stronger term and spot pricing and a more supportive U.S.
nuclear-fuel policy environment reinforces the strategic value of advancing permitted, past-
producing conventional mines that can feed a licensed U.S. mill.
About JD-8
The JD-8 Mine is located approximately 11 miles west of Naturita, Colorado, on approximately
28.3 acres within Department of Energy Uranium Leasing Program lease tracts. It is a past-
producing conventional underground uranium and vanadium mine and a key asset within
Anfield’s Monogram Mesa Mine Complex. Historic Cotter operations at JD-8 were suspended in
2006 due to market conditions.
Production Decision
The Company’s decision to advance development and permitting of the JD-8 uranium and
vanadium mine is based on historical production data and analysis of available technical
information, and not on a feasibility study of mineral reserves demonstrating economic and
technical viability. As a result, there is increased uncertainty and a higher risk of economic or
technical failure associated with that decision.
About Anfield
Anfield Energy is a uranium and vanadium development and near-term production company
committed to becoming a significant supplier of energy-related fuels through sustainable,
efficient growth of its U.S.-based assets. The Company’s flagship asset is the Shootaring Canyon
Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills
in the country. Anfield’s portfolio includes the advanced Velvet-Wood project (Utah) and other
conventional uranium-vanadium assets in Utah, Colorado, Arizona, and New Mexico. All of
Anfield’s assets are located in the United States, positioning the Company to help meet
America’s growing nuclear fuel needs. The U.S. consumes nearly 50 million pounds of uranium
annually yet produces only a small fraction domestically.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Contact:
Anfield Energy, Inc.
Corporate Communications
604-669-5762
contact@anfieldenergy.com
www.anfieldenergy.com
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