Anfield Energy Steps Up Focus on its Conventional Uranium and Vanadium Assets
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 Steps Up Focus on its Conventional Uranium and Vanadium Assets
VANCOUVER, BRITISH COLUMBIA – Globe Newswire – March 23, 2022 — Anfield Energy Inc. (TSX.V:
AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it
has commenced a comprehensive review of its conventional uranium assets, including the Shootaring
Canyon Mill, the Velvet -Wood mine and the West Slope properties, in order to identify and advance a
optimal long-term conventional uranium and vanadium production plan through the utilization of these
assets. To meet this goal, the Company has, therefore, engaged BRS Engineering, McNulty & Associates
and Wright Environmental Services. The review will include the following criteria:
1. The cost of, and timeline to, partial and/or full refurbishment of the Shootaring Canyon Mill;
2. A confirmation of the underlying economics and potential production timeline related to the
Velvet-Wood Mine;
3. An economic assessment and potential production timeline related to Anfield’s West Slope
properties; and
4. The permitting and regulatory milestones tied to each of the identified assets and a n optimal
production path through their use.
Corey Dias, Anfield CEO, stated, “The past few weeks and months have served as a reminder of the
fragility of global supply chains; moreover, recent events in Eastern Europe have exacerbated the
inherent geopolitical risk of supply and demand in the uranium sector. Given current circumstances, we
believe that operating in a safe and stable jurisdiction such as the U.S. is a critical advantage and an
attractive prospect for those seeking uranium production from a reliable source . Moreover, the West
Slope project possesses a significant vanadium endowment which, like uranium, is a key transition metal
to the low -carbon economy. Anfield’s ownership of one of only three licensed, permitted and
constructed conventional uranium mills in the U.S. is a significant d ifferentiator in the competitive
uranium production landscape”.
About BRS
BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral
exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine
design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects
including technical reports and feasibility studies for underground, open pit, ISR, and conventional
uranium mills. Representative projects include technical reports and due diligence for project financing
for conventional uranium projects including the Sheep Mountain Project in Wyoming, the Marquez/Juan
Tafoya Project in New Mexico, the Coles Hill Project in Virgi nia, and numerous ISR uranium projects in
Wyoming , Texas and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, is a Qualified Person as defined in NI 43 -101
with more than 45 years of professional and managerial experience. Mr. Beahm has a proven track
record in a variety of mining and mine reclamation projects including surface and underground mining,
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
heap leach recovery, ISR, and uranium mill tailings projects. Mr. Beahm’s experience includes coal,
precious metals, and industrial minerals, but his emphasis throughout his career has been on uranium.
About T.P. McNulty and Associates
T.P. McNulty and Associates was incorporated in 1988 to provide metallurgical consulting services. Terry
McNulty and his team have worked on projects lo cated in 17 countries, and clients have included
exploration and mining companies, technology developers, financing entities, universities, and
government agencies with emphasis on developing or evaluating ways of reducing costs of improving
efficiencies o f existing mineral/metal extraction methods. Work has been done on projects involving
copper, lead, zinc, silver, gold, iron ore, uranium, potash, vanadium and a variety of other non -metallic
minerals.
About Wright Environmental Services
Toby Wright, President of Wright Environmental Services, is a hydrogeologist and a registered
professional geologist (Wyoming) with a masters degree in geotechnical engineering and over 30 years
experience in uranium mining and milling regulatory complianc e. He was the contract project manager
at the UMTRA Moab Site reclamation project for the US Department of Energy between 2002 and 2005,
and was the Environmental Manager for Uranium One Americas conventional mining and milling assets
from 2007 to 2010, d uring which he was responsible for permitting and compliance of the Shootaring
Canyon Mill and Uranium One’s Utah -based conventional uranium assets, which Anfield subsequently
acquired. Mr. Wright was a Director on Anfield’s Board between 2014 and 2019. Since 2010, Mr.
Wright has provided technical and regulatory support for the uranium industry as a private contractor.
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 also a precious metals development company. 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 centres, 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 and vanadium 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 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.
Wyoming – Resin Capture and Processing Agreement
Anfield 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 O ne’s Irigaray processing
plant in Wyoming.
The Charlie 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 Preliminary Economic Assessment has been completed for the Charlie Project.
Anfield’s 24 remaining 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.
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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