Anfield Energy’s Milestone Purchase: First Major Underground Haul Truck Acquisition

Anfield Energy’s Milestone Purchase: First Major Underground Haul Truck

Acquisition

VANCOUVER, British Columbia – GLOBE NEWSWIRE - November 13, 2025 — Anfield Energy Inc.

(TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) (“Anfield” or the “Company”) has completed its

first major procurement of specialized underground mining equipment. The Company placed an

order for eight custom-built underground haul trucks from Young’s Machine Company, a family-

owned manufacturer based in Monticello, Utah. This purchase marks a key milestone in Anfield’s

ramp-up toward near -term production at its Velvet -Wood uranium -vanadium mine in

southeastern Utah which aligns with recent regulatory approvals for construction.

Corey Dias, Anfield CEO, stated: “ Securing our first fleet of underground trucks from Young’s

Machine is a pivotal step in executing our near -term production strategy at Velvet -Wood.

Partnering with a proven, Utah- based manufacturer like Young’s ensures we deploy rugged, fit -

for-purpose equipment built for the unique demands of our high- grade uranium -vanadium

material. This order not only de-risks our restart timeline but also strengthens local economic ties

as we advance American energy independence through domestic nuclear fuel production.”

Details of the Purchase

• Equipment Specifications : The order includes multiple units from Young’s 960 Series

dump trucks, designed for underground mining operations. These American-manufactured

trucks are known for their durability, low overhead costs for buyers, and compatibility with

uranium-vanadium material handling in challenging subsurface environments.

• Standardized Fleet Efficiency: In Anfield Energy's hub-and-spoke uranium and vanadium

production model, deploying a uniform fleet of underground haul trucks reduces

maintenance complexity, optimizes spare parts logistics, lowers operational costs, and

enables rapid scalability as additional spokes come online.

• Timeline: Following the high -profile ground -breaking ceremony for the Velvet -Wood

Mine on November 6th, this purchase aligns with Anfield’s projected timeline and is slated

to begin delivery in the 2nd quarter of 2026.

Strategic Context

Anfield continues to position itself as a top -tier supplier of clean energy inputs amid a surging

demand for nuclear fuels. With assets in Utah, Colorado, Arizona and New Mexico, the Company

aims to restart the Shootaring Canyon Mill and scale production output up to 3 million pounds of

uranium annually. The Velvet-Wood Mine, located near Monticello, will feed material to Anfield’s

ENERGY INC.

ANFIELD

www.anfieldenergy.com

Office: 604-669-5762

Fax: 604-608-4804

TSX.V : AEC

NASDAQ : AEC

Frankfurt : 0AD

Head Office:

4390 Grange Street,

Suite 2005,

Burnaby, B.C. V5H 1P6

Shootaring Canyon Mill, supporting a “hub -and-spoke” model which will contribute to U.S.

Government’s aim of energy independence.

The mine targets historical materials from 1970s-1980s operations that produced ~4 million lbs

of U₃O₈ and 5 million lbs of V₂O₅. A 2023 Preliminary Economic Assessment (PEA) projected

positive production potential.

Recent U.S. Department of the Interior expedited permitting (May 2025) and Utah regulatory

greenlights (October 2025) have accelerated development, positioning Anfield to become the

next U.S. uranium producer.

This truck purchase underscores:

• Operational Readiness : Complements recent activities, including a completed

confirmation drill program at the JD-7 Mine (October 21, 2025) and upcoming underground

drilling at other Paradox Mine Complex sites.

• Local Economic Boost : Partnering with Young’s Machinery highlights Anfield’s

commitment to Utah -based supply chains and American manufacturing, potentially

creating jobs in San Juan County.

• Market Momentum: Anfield’s shares price reflects investor confidence in its expedited

permitting under federal energy initiatives.

Young’s Machine Company, with over 70 years in business since 1953, specializes in “mine -

tested” equipment tailored for Western U.S. operations. Their low-cost, high-quality builds (e.g.,

using premium components for reliability) make them an ideal local partner, reducing logist ics

costs for Anfield’s Utah- centric projects. This transaction also highlights Utah’s role as a mining

hub, with Velvet-Wood just miles from Young’s facility.

Steve Young, of Young’s Machine Company, stated: “We’re thrilled to partner with Anfield on

this landmark order—it’s a testament to the trust they’ve placed in our custom 960 Series trucks.

Working with a forward- thinking team like Anfield’s, right here in our backyard, reinforces our

commitment to powering Utah’s uranium revival with reliable, American -made equipment that

stands up to the toughest underground conditions. We look forward to seeing these trucks haul

the future of clean energy.”

Broader Implications

• For Anfield: This procurement signals operational readiness, following financings like the

C$26.5 million raise (January 2025) and U.S. loan extensions (March 2025).

• Industry Impact: Amid U.S. efforts to onshore uranium (e.g., executive orders for energy

dominance), such purchases boost local economies and reduce reliance on foreign

equipment. Production from Velvet-Wood could support nuclear renaissance goals.

Risks: Permitting delays, commodity price volatility (uranium ~US$80/lb), and water

management in arid Utah remain factors, though Anfield’s plans include treatment and

non-potable beneficial use of mine water at the operation.

Velvet-Wood Uranium-Vanadium Mine Production Decision

The Company notes that its decision to advance development of the Velvet-Wood Uranium -

Vanadium Mine is not based on a feasibility study of mineral reserves demonstrating economic

and technical viability. As a result, there is additional uncertainty and risk related to the

economics and viability of development.

About Anfield

Anfield is a uranium and vanadium development 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 NASD AQ (AEC-Q), the TSX-Venture

Exchange (AEC-V) and the Frankfurt Stock Exchange (0AD).

On behalf of the Board of Directors

ANFIELD ENERGY INC.

Corey Dias, Chief Executive Officer

Neither the 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.

Corporate Communications

604-669-5762

contact@anfieldenergy.com

www.anfieldenergy.com

Safe Harbor Statement

THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS” and “FORWARD-LOOKING INFORMATION” WITHIN THE

MEANING OF APPLICALE SECURITIES LEGISLATION (COLLECTIVELY, “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. FORWARD-LOOKING STATEMENTS IN THIS

PRESS RELEASE INCLUDE, WITHOUT LIMITATION, STATEMENTS RELATING TO THE DEVELOPMENT OF THE VELVET-WOOD

URANIUM-VANADIUM MINE.

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

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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 INFORMATION REGARDING THE

COMPAN Y. OTHER RISKS INCLUDE RISKS ASSOCIATED FUTURE CAPITAL 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-

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CONTENTS.