Anfield Energy to Complete a Mineral Resource Report for Four of its West Slope Project Mines
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Anfield Energy to Complete a Mineral Resource Report for Four of its
West Slope Project Mines
VANCOUVER, BRITISH COLUMBIA – GLOBAL NEWSWIRE – February 2, 2022 — Anfield Energy
Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased
to announce that Anfield has engaged BRS Engineering (“BRS”) to complete a mineral resource
report for four of the nine West Slope uranium/vanadium properties held by the Company
(“West Slope”). The West Slope properties are located in the prolific Uravan region of Colorado.
The targeted West Slope properties are known as JD -6, JD -7, JD -8 and JD -9, and represent a
historical uranium and vanadium resource of approximately 7Mlbs and 33Mlbs, respectively, at
the grades described below.
Corey Dias, Anfield CEO, states “ Given the strengthening global sentiment related to the
uranium market, w e are pleased to update and determine the potential economics for four of
our West Slope properties in Colorado . We believe that these projects could serve as a critical
portion of Anfield’s long-term viable conventional uranium production – underpinned by the
Shootaring Canyon mill in Utah – as a part of its portfolio of U.S. uranium assets”.
About The West Slope Project
The West Slope Project, located in Montrose and San Miguel Counties of southwestern
Colorado, consist of nine Department of Energy (DOE) leases, associated with adjacent lode
mining claims and leases, covering 6,913 acres on which past uranium prod uction has taken
place. Between 1977 and 2006, approximately 1.3Mlbs of uranium and 6.6Mlbs of vanadium
were produced from these mines. In 2007, Behre Dolbear was commissioned by Cotter to
produce a Technical Report for the West Slope Project (Technical Re port on Nine Properties
Held by Cotter Corporation in Montrose and San Miguel Counties, Colorado, USA, August 16,
2007). Using available data and using a cut -off of 0.05% uranium, Behre Dolbear estimated an
in-place Measured Resource of 2.1Mt of uranium at an average grade of 0.25% for a total of
11Mlbs of uranium and an in -place Measured resource of 1.2Mt of vanadium at an average
grade of 1.2% for a total of 53Mlbs of vanadium.
Anfield considers these estimates to be historical in nature and cautions that a qualified person
has not done sufficient work to classify the historical estimate as current mineral resources or
mineral reserves and Anfield is not treating the historical estimate as a current mineral
resource or mineral reserves. A qualified person will need to conduct an analysis of data from
previous exploration activities to delineate an updated uranium/vanadium resource estimate.
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 s tudies 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 Virginia, 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, heap leach recovery, ISR, and uranium mill tailings projects. Mr. Be ahm’s
experience includes coal, precious metals, and industrial minerals, but his emphasis throughout
his career has been on uranium. Mr. Beahm has reviewed and approved the technical content
of this news release.
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 an d 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
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